An active ingredient

Article Abstract:

Accounting should be neutral in its incidence and application, yet changes in the way that economic activity is reported in the early 21st century suggest that this principle of accounting neutrality, which is the very basis of financial reporting, is being overlooked. The danger in such a scenario is that decision-makers and stakeholders would find it difficult to make sense of the proliferation of soft and unverifiable numbers generated, and accounting would enter as an active ingredient.

Legal issues & crime, Government regulation (cont), Government regulation, Regulation, Licensing, and Inspection of Miscellaneous Commercial Sectors, Legal/Government Regulation, Reporting & Disclosure, Financial Regulation & Reporting, Evaluation, Laws, regulations and rules, Financial statements, Financial disclosure

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The ASC at the crossroads

Article Abstract:

Great Britain's Accounting Standards Committee (ASC) has been accused both of being too permissive and too rigid. UK legislation nonetheless relies heavily on ASC standard statements of accounting practice, many of which have been transplanted directly into the Companies Act. It is suggested that a link must be strengthened between accountability and accounting, and that the ASC's work in this regard is incomplete.

Standards, Management, Corporation reports, Company reports, United Kingdom. Accounting Standards Committee, Great Britain

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Europe: Time to call the Commission to account

Article Abstract:

The European Union (EU) seems to be indifferent and politically unwilling to tackle the corruption and fraud prevalent in the European Commission (EC), its executive and regulator. The various corrupt practices of the EC are discussed, also suggesting steps to make it accountable to taxpayers.

Capital funds & cash flow, Accounting and auditing, European Union, European Union. European Commission, Powers and duties

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