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The purpose of this paper is to analyze how “New Deal” regulatory initiatives, primarily the Securities Acts and the Securities and Exchange Commission (SEC), changed US auditors’ professional knowledge conception, culminating in the 1938 expansion of the Committee on Accounting Procedure (CAP), the first US body to set accounting principles.

The paper combines Halliday’s (1985) knowledge mandates with Hancher and Moran’s (1989) regulatory space to attain a theory-based understanding of auditors’ changing knowledge conceptions amid regulatory pressure. It draws on a range of primary and secondary sources to examine the period from 1929 to 1938.

Following the stock market crash, the newly created SEC aimed to engage auditors as a means to regulate companies’ accounting practices based on a set of codified principles. While entailing increased status, this new role conflicted with the auditors’ knowledge conception, which was based on professional judgment and personal integrity. Pressure from the SEC and academics eventually made auditors agree to a codification of their professional knowledge and create the CAP as a cooperative regulatory solution.

The paper explores the role of auditors’ knowledge conceptions in the emergence of today’s standard setting. It is suggested that auditors’ incomplete control of their professional knowledge made standard setting a form of co-regulation, located between the actors occupying the regulatory space of accounting.

This paper aims to identify purchasing-related costs through the prism of transaction costs and costs of purchasing management activity.

The authors conducted a survey among 150 medium and large manufacturing companies in the chemical, automotive and electromechanical industries operating in Central and Eastern European countries. The collected data were analyzed using confirmatory factor analysis.

The studied companies carry out an integrated purchasing-related cost system. The authors found a statistical significance of the covariances between the pretransaction, transaction and post-transaction costs. In addition, costs that are of particular importance in long-term purchasing transactions were identified. Moreover, the authors identified the costs of quality and support actions as the most significant.

This research details the discussion of costs with consideration for the insights of managers of medium-sized and large companies.

The paper contributes to the knowledge of purchasing-related costs through the lens of the total cost of ownership that influences the purchasing management and the decisions within the buyer-supplier relationship.