The Value of Audit and the Economic History of Market PDF Download
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Author: Boon Seng Tan
Publisher:
ISBN:
Category :
Languages : en
Pages : 6
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Book Description
We argue that the value of audit consists of three components whose relative importance shifted over time due to the changing economics of business. The three components are: (1) detecting fraud, (2) as an element of corporate governance, and (3) facilitating the smooth functioning of capital market. Fraud detection is important in the early history of audit, but the rise of risk-based auditing and increased complexity of business diminish that role. The development of capital markets increases the importance of audit's role in enhancing corporate governance and its contribution to the efficiency of capital market. However, historical legacy give rise to expectation gap - between the public and the professional - of the value of audit. Professional accounting body and audit firms should educate the public of the value of audit. This paper contributes to this education.
Author: Boon Seng Tan
Publisher:
ISBN:
Category :
Languages : en
Pages : 6
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Book Description
We argue that the value of audit consists of three components whose relative importance shifted over time due to the changing economics of business. The three components are: (1) detecting fraud, (2) as an element of corporate governance, and (3) facilitating the smooth functioning of capital market. Fraud detection is important in the early history of audit, but the rise of risk-based auditing and increased complexity of business diminish that role. The development of capital markets increases the importance of audit's role in enhancing corporate governance and its contribution to the efficiency of capital market. However, historical legacy give rise to expectation gap - between the public and the professional - of the value of audit. Professional accounting body and audit firms should educate the public of the value of audit. This paper contributes to this education.
Author: Benito Arrunada
Publisher: Springer Science & Business Media
ISBN: 1475767285
Category : Business & Economics
Languages : en
Pages : 203
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Book Description
This book focuses on market mechanisms which protect quality in the provision of audit services. The role of public regulation is thus situated in the context defmed by the presence of these safeguard mechanisms. The book aims to contribute to a better understanding of these market mechanisms, which helps in defining the con tent of rules and the function of regulatory bodies in facilitating and strengthening the protective operation of the market. An analysis at a more general level is provided in the three chapters making up Part 1. In the four chapters of Part 2, on the other hand, this analysis is applied to a particular problem to determine how those non-audit services often provided by auditors to their audit clients should be regulated. Finally, Chapter 8 contains a summary of the analysis and conclusions of the work. The conclusion with regard to non-audit services is that their provision generates beneficial effects in terms of costs, technical competence, professional judgment and competition and, moreover, need not prejudice auditor independence or the quality of these services. This as sessment leads, in the normative sphere, to recommending a legislative policy aimed at facilitating the development and use of safeguards provided by the free action of market forces. Regulation should thus aim to enable the parties-audit firms, self-regulatory bodies and audit clients-to discover through competitive market interaction both the most efficient mix of services and the corresponding quality safeguards, adjusting for the costs and benefits of each possibility.
Author: Walter P. Schuetze
Publisher: Routledge
ISBN: 1134423810
Category : Business & Economics
Languages : en
Pages : 391
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Book Description
This Volume, edited by Peter W. Wolnizer, Professor of Accounting at the University of Sydney, makes available the collected writings of Walter P. Scheutze, a senior accounting practitioner. The articles, speeches and letters collected here probe the most fundamental problems of corporate financial reporting, cogently arguing the case for accounting reform and proposing well-informed solutions to these problems.
Author: Donald Rutherford
Publisher: Routledge
ISBN: 1136240241
Category : Business & Economics
Languages : en
Pages : 737
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Book Description
The Routledge Dictionary of Economics, now in its third edition, provides the clearest, most authoritative definition of economic and financial terms available. The book is perfect for students and professionals interested in a broad range of disciplines including Business, Economics, Finance, and Accountancy and all additional subjects where a knowledge of these fields of essential. The dictionary has been updated to reflect the economic changes of the new Millennium including the emergence of experimental and behavioural economics, new political economy, the importance of institutions, globalization, environmental economics, financial crises and the economic emergence of China and India. It’s an international dictionary that includes succinctly explained A to Z entries and definitive explanations of the key terms, accompanied by a short bibliography and comprising supplementary online definitions. In a world where the reader is met with a barrage of conflicting and competing information, this book continues to provide a definitive guide to economics.
Author: Mehmet Odekon
Publisher: Routledge
ISBN: 1317475763
Category : Business & Economics
Languages : en
Pages : 1020
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Book Description
This timely and authoritative set explores three centuries of good times and hard times in major economies throughout the world. More than 400 signed articles cover events from Tulipmania during the 1630s to the U.S. federal stimulus package of 2009, and introduce readers to underlying concepts, recurring themes, major institutions, and notable figures. Written in a clear, accessible style, "Booms and Busts" provides vital insight and perspective for students, teachers, librarians, and the general public - anyone interested in understanding the historical precedents, causes, and effects of the global economic crisis. Special features include a chronology of major booms and busts through history, a glossary of economic terms, a guide to further research, an appendix of primary documents, a topic finder, and a comprehensive index. It features 1,050 pages; three volumes; 8-1/2" X 11"; topic finder; photos; chronology; glossary; primary documents; bibliography; and, index.
Author: Jun Zhan
Publisher:
ISBN:
Category :
Languages : en
Pages :
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Book Description
Author: Amir Sasson
Publisher:
ISBN: 9788215031408
Category :
Languages : en
Pages : 274
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Book Description
Author: United States Government Accountability Office
Publisher: Lulu.com
ISBN: 0359536395
Category : Reference
Languages : en
Pages : 234
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Book Description
Audits provide essential accountability and transparency over government programs. Given the current challenges facing governments and their programs, the oversight provided through auditing is more critical than ever. Government auditing provides the objective analysis and information needed to make the decisions necessary to help create a better future. The professional standards presented in this 2018 revision of Government Auditing Standards (known as the Yellow Book) provide a framework for performing high-quality audit work with competence, integrity, objectivity, and independence to provide accountability and to help improve government operations and services. These standards, commonly referred to as generally accepted government auditing standards (GAGAS), provide the foundation for government auditors to lead by example in the areas of independence, transparency, accountability, and quality through the audit process. This revision contains major changes from, and supersedes, the 2011 revision.
Author: Joel Mokyr
Publisher: Oxford University Press
ISBN: 0190282991
Category : Business & Economics
Languages : en
Pages : 2812
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Book Description
What were the economic roots of modern industrialism? Were labor unions ever effective in raising workers' living standards? Did high levels of taxation in the past normally lead to economic decline? These and similar questions profoundly inform a wide range of intertwined social issues whose complexity, scope, and depth become fully evident in the Encyclopedia. Due to the interdisciplinary nature of the field, the Encyclopedia is divided not only by chronological and geographic boundaries, but also by related subfields such as agricultural history, demographic history, business history, and the histories of technology, migration, and transportation. The articles, all written and signed by international contributors, include scholars from Europe, Latin America, Africa, and Asia. Covering economic history in all areas of the world and segments of ecnomies from prehistoric times to the present, The Oxford Encyclopedia of Economic History is the ideal resource for students, economists, and general readers, offering a unique glimpse into this integral part of world history.
Author: United States. Economic Development Administration
Publisher:
ISBN:
Category : Finance, Public
Languages : en
Pages : 132
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Book Description
