Regulating financial reporting: the debate continues

Article Abstract:

The proposed Financial Fraud Detection and Disclosure Act of 1986 imposes more responsibility on business enterprises and independent auditors for controlling fraudulent accounting. Under the Act, management will be responsible for designing a set of administrative compliance controls, evaluating the administrative controls regularly, and evaluating control structures in an annual Securities and exchange Commission filing. Auditors will be responsible for detecting material illegalities and irregularities, evaluating clients' internal control systems, and reporting irregularities that clients have not corrected. The Act will increase the complexity of audit procedures for public companies and their auditors, and could potentially create an adversarial relationship between the two.

Analysis, Fraud, Disclosure statements (Accounting)

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Performance audit scope and the independence of the Australian Commonwealth Auditor-General

Article Abstract:

The provisions of the 1979 Australian Audit Act have been found to affect the independence of the Australian Commonwealth's Auditor-General and the Australian National Audit Office. This conflict may be attributed to differences between the international concept and the Australian concept of performance auditing. Empirical evidence reveal that the independent status of both agencies are more apparent than real.

Australia, Inspectors general

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Factors associated with auditor changes: a Singapore study

Article Abstract:

Research identifying areas of change in auditing is presented, on the basis of samples of fifty four auditor-change and fifty four non-auditor-change companies part of the Stock Exchange of Singapore taken between 1986 and 1995. Statistical and logit information is examined.

Accounting and auditing, Stock-exchange, Stock exchanges, Singapore

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