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Author: United States Accounting Office (GAO)
Publisher: Createspace Independent Publishing Platform
ISBN: 9781984302250
Category :
Languages : en
Pages : 142
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Book Description
AIMD-96-98 The Accounting Profession: Major Issues: Progress and Concerns
Author: United States Accounting Office (GAO)
Publisher: Createspace Independent Publishing Platform
ISBN: 9781984302250
Category :
Languages : en
Pages : 142
Get Book Here
Book Description
AIMD-96-98 The Accounting Profession: Major Issues: Progress and Concerns
Author: United States Accounting Office (GAO)
Publisher: Createspace Independent Publishing Platform
ISBN: 9781984213525
Category :
Languages : en
Pages : 178
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Book Description
AIMD-96-98A The Accounting Profession: Appendixes to Major Issues: Progress and Concerns
Author: United States. General Accounting Office
Publisher:
ISBN:
Category :
Languages : en
Pages : 139
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Book Description
Public confidence in the fairness of financial reporting is critical to the effective functioning of the securities markets. Federal securities laws require public companies to disclose information that accurately describes the financial condition of a company. These laws also require that financial statements filed with the Securities and Exchange Commission (SEC) by public companies be audited by independent public accountants. During the past 20 years, costly, well-publicized, and unexpected business failures--such as the savings and loan crisis and the resulting government bailouts--have raised questions about what the public expects from an independent audit of public companies and how well the audit function meets those expectations. More recently, the globalization of business, the increasing complexities of business transactions, and advances in information technology have challenged the relevance and usefulness of traditional financial reporting and the auditor's role in serving the public interest. These issues, along with major litigation involving independent auditors, prompted many studies of financial reporting and auditing during the past two decades, resulting in hundreds of recommendations to the accounting profession. This report (1) identifies recommendations made from 1972 through 1995, and actions taken, to strengthen accounting and auditing standards and the performance of independent audits of publicly owned companies required by federal securities laws and (2) identifies unresolved issues and determines their impact on the performance of independent auditors, the setting of effective accounting and auditing standards, and the scope of business reporting and audit services. GAO found that although the accounting profession has made changes to improve financial reporting and auditing of public companies, several major issues remain unresolved. These issues include auditor independence, auditor responsibility for detecting fraud and reporting on internal controls, public participation in standard setting, the timeliness and relevance of accounting standards, and maintaining the independence of the Financial Accounting Standards Board. The appendices to this report can be found in GAO/AIMD-96-98A.
Author: United States. General Accounting Office
Publisher:
ISBN:
Category : Accounting
Languages : en
Pages : 180
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Book Description
Author: John L. Carey
Publisher:
ISBN:
Category : Accounting
Languages : en
Pages :
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Book Description
Author: Donald H. Chapin
Publisher: DIANE Publishing
ISBN: 0788135988
Category :
Languages : en
Pages : 148
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Book Description
Concerns the status of recommendations made to the accounting profession over the past two decades by major study groups. Identifies (1) recommendations made from 1972-95 to improve accounting & auditing standards & the performance of independent audits under the federal securities laws & the actions taken on those recommendations, & (2) any unresolved issues to determine their impact on the performance of independent audits, effective accounting & auditing standards setting, & efforts to expand the scope of business reporting & audit services.
Author: United States. General Accounting Office
Publisher:
ISBN:
Category : Accounting
Languages : en
Pages : 144
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Book Description
Author: United States. General Accounting Office
Publisher:
ISBN:
Category : Administrative agencies
Languages : en
Pages : 220
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Book Description
Author:
Publisher: DIANE Publishing
ISBN: 1428943927
Category :
Languages : en
Pages : 92
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Book Description
The accounting profession maintains a voluntary, self-regulatory system through the American Institute of Certified Public Accountants (AICPA) that includes establishing professional standards, monitoring compliance with professional standards, disciplining members for improper acts and substandard performance, and conducting oversight of the system. You expressed concern about the effectiveness of the self-regulatory system and whether the Panel's recommendations would be implemented fully. Specifically, you requested that we (1) determine the status of the Panel's recommendations to address limitations of the self-regulatory system, and (2) identify any gaps in actions taken to implement the Panel's recommendations and their likely impact on overcoming the limitations of the self-regulatory system identified by the Panel.
Author:
Publisher:
ISBN:
Category : Finance, Public
Languages : en
Pages : 556
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Book Description
