A Gradual Degeneration of Professional Values By 1980, a deterioration in professional values appears to have set in. At the Institute's annual meeting in October, outgoing Board Chairman Wm. R. Gregory, a practitioner from Tacoma, Washington, vividly warned members of the increasingly fractious climate in the profession: ...
Byline: Patrick Blum in Brussels and William Wright The European Commission is considering retaliation against the US after the refusal of US authorities to compromise on the regulation of accountancy firms and to grant European stock exchanges direct access to US investors.The threat comes...
South Africa had the Health & Racquet and Saambou liquidations while America had Enron and WorldCom. Some people feel that America overreacted by enacting the, what they call, draconian Sarbanes-Oxley Act of 2002 the Act and accompanying US Securities and Exchange Commission SEC rules. In motivating this Act it was...
Shortly before this issue went to press, the SEC commissioners announced William J. McDonough ,president and chief executive of the Federal Reserve Bank of New York, as their unanimous choice to be chair of the Public Company Accounting Oversight Board PCAOB. Former POB Chairman Charles G. Bowsher discusses the importance...
CPAs entered a covenant when they accepted the statutes that created their professional license. There is also the very special franchise, granted to the accounting profession by a threeto-two vote of the SEC at its inception, which requires all registrants to submit financial statements audited by accountants in the private...
THE WORLDCOM scandal has thrown the spotlight on America's Securities and Exchange Commission as never before. The main US financial regulator was once seen as the most powerful and feared watchdog in the world. Now it stands accused of failing to push through regulatory changes that would have helped prevent...
ACCOUNTANTS AND their close cousins in management consulting know more than most about the current pace of change in business and the need to be adaptable. It is just as well, since their industries are currently seeing unprecedented levels of turbulence. No sooner have they breathed a...
New rules for reforming the accountancy industry, which make significant concessions to the Big Five firms, have been announced bythe Securities and Exchange Commission SEC.The rules mean that, while firms will be required to ensure that their audit and consultancy arms"appear"to be separate,theywill not be forced to split their accountancy...
New rules for reforming the accountancy industry, which make significant concessions to the Big Five firms, have been announced by the Securities and Exchange Commission SEC. The rules mean that, while firms will be required to ensure that their audit and consultancy arms "appear" to be separate, they will not...
Well-publicised scandals have brought the issue of audit integrity to the fore but, warns Katherine Bagshaw, UK accountants will lose variety, money and status if the profession has to conform to US or European norms There are many reasons why the accountancy profession in the UK must ensure that...
Well-publicised scandals have brought the issue of audit integrity to the fore but, warns Katherine Bagshaw, UK accountants will lose variety, money and status if the profession has to conform to US or European norms There are many reasons why the accountancy profession in the UK must...
Well-publicised scandals have brought the issue of audit integrity to the fore but, warns Katherine Bagshaw, UK accountants will lose variety, money and status if the profession has to conform to US or European norms There are many reasons why the accountancy profession...
Implementation Is Under Way The International Accounting Standards Committee's role on the world scene took on greater prominence in 1997 when the International Organization of Securities Commissions agreed to sanction a core set of standards for use in global securities markets if they passed technical muster. In...
Abstract: This study reexamines the accounting profession's response to opportunities and incentives given it during three unique periods in its history to foster reliable accounting, reporting and auditing practices. By profession, we mean the auditors of publicly held companies as represented by the American Institute of Accountants and its predecessor,...
Victory in Colorado Court Upholds Rights of Unlicensed Accountants One of the major duties of the state accountancy board is to propose and issue regulations which have a major impact upon the practice of licensed accountants and which frequently impose restrictions upon the scope of...
Recent rulings in America have highlighted the conflicts of interest inherent in modern accountancy Recent rulings in America have highlighted the conflicts of interest inherent in modern accountancy
Investor Digest Malaysia 11-16-2002 THE drive towards cleaning up corporate America has extracted its toll on Harvey Pitt, the embattled head of the United States' Securities and Exchange Commission SEC. He resigned early in November follow Investor Digest Malaysia ...
Byline: Sara Hansard WASHINGTON - State boards of accountancy are the latest group of state regulators to pile into securities enforcement cases. That was pointed out to securities lawyers by Samuel Winer, a partner in the...
INVESTORS may think the future of America's stockmarkets rests on the growth prospects of its companies. But a bigger issue may be getting credible accounting information about them. Thus it makes perfect sense that, even as the Nasdaq stockmarket wa INVESTORS may think the future of...
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