The ASEAN economies in the 1990s and Singapore's regional role

Article Abstract:

Four recently emerged trends have accounted for the rapid economic expansion in the ASEAN region - accelerating investment flows from Japan and the Asian NIEs, rising intra-Asia trade, increasing diversification from commodity-based to manufacturing-based economies, and gathering pace of deregulation and privatisation of these Southeast Asian economies. Over the years, Singapore has acquired strong expertise in several essential services and it is in the provision of such services to countries in Southeast Asia that further growth can be generated for the Singaporean economy in the future. These are, specifically: transport services, financial services, and regional headquarters services to multinationals operating in the ASEAN region. As a small city-state connected to a vast hinterland, Singapore cannot expect to thrive if the regional economies perform sluggishly. Singapore's economic plans for the future must be predicated on helping its Southeast Asian neighbours to maintain their high growth momentum. (Reprinted by permission of the publisher.)

Analysis, Economic aspects, Singapore, Economic development, International economic integration, Economic integration, Association of Southeast Asian Nations, Asia, Southeastern

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Accounting will survive the coming century, won't it?

Article Abstract:

The accounting practice will have been significantly transformed by the year 2005 as a result of rapid innovations in technology. By the year 2000, the financial function will have been reduced by 70% because most financial processes, including budgeting and profit planning, will be automated. Five years after the year 2000, the treasury will have been outsourced, resulting in a simpler department. In addition, fixed assets accounting will still be a challenging task but will be made much simpler, thanks to barcoded inventory tags. The year 2005 will also be marked by the application of agent software by internal and external auditors. This software will identify intelligence data by evaluating large files of intercepted messages, satellite images and scientific journals. This likely scenario should compel accountants to hone their computer skills before the year 2005 rolls around.

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Auditing in the 1990s: implications for education and research

Article Abstract:

The auditing profession will change dramatically in the 1990s. Economic forces will both create demands for auditing many new types of information and will also interest auditors in meeting those demands. Not only will the subject matter of auditing change, but so will audit technology - the means of doing audits - by adopting many of the methods being developed in the disciplines of human information processing and artificial intelligence. These changes in subject matter and technology will require substantial investments in research and will demand dramatic changes in the accounting curriculum. (Reprinted by permission of the publisher.)

Auditing

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