Auditing - last bastion of the closed shop

Article Abstract:

The next UK government probably will make reform of the auditing profession a high priority. The auditing system relies too heavily on self-regulation which has the effect of serving vested interests rather than the public interest. The present accounting structure lacks independence and has no consumer representation. The Auditing Practices Committee does not have any consumer representation and is dominated by the major accounting firms. The disciplinary procedures of the profession are lax and the Institute of Chartered Accountants in England and Wales is not interested in making accountants accountable. The accounting profession and auditing system require an independent regulatory structure based on statute.

Analysis

---

Special purpose auditor's reports

Article Abstract:

Auditors are provided with a framework to report on a business's financial status from sources other than regular financial statements. These are called 'special purpose auditor's reports'. The auditor is shown how to prepare reports on financial statements based on standards other than national or international ones. Other reports concern specific elements or components of financial statements, contract compliance, and summarized financial statements.

Accounting and auditing

---

Charting the course for accounting research

Article Abstract:

The Institute of Chartered Accountants in England and Wales Research Board has two primary goals: to promote and publish accounting-related research; and to initiate closer connections between academic research and practical expertise. The Board's research plan is described, covering the areas of finance, auditing, management, and financial reporting.

Research

Similar abstracts:

• Abstracts: Education and training requirements for accounting technicians. Tax and ED 33: Should we discount discounting?
• Abstracts: CT is going up - not going down. The basic theory behind consolidated accounts. Group relief: planning to better advantage
• Abstracts: Seller financing made easier as a result of the new rules simplifying imputed interest. Key to interest deductions is proper tracing of borrowed funds, according to new Regs
• Abstracts: Amortization of intangible assets in a business acquisition. Establishing a useful life is the key to an amortization deduction for intangibles
• Abstracts: The filling in the training sandwich. Guideline on education and training requirements for accounting technicians

This website is not affiliated with document authors or copyright owners. This page is provided for informational purposes only. Unintentional errors are possible.