Summary
Contents
Subject index
`This is a book which should be read by all students, whether undergraduate and postgraduate. It also provides a succinct guide for the manager who wishes to come to grips with this topic, or the accountant nostalgic to recollect the non too praiseworthy and indecisive history of this topic' - Managerial Auditing Journal Corporate Financial Reporting critically examines contemporary corporate financial reporting. The complexity of the reporting process and the myriad of issues facing the directors, accountants and auditors can only be successfully understood from a firm conceptual base. Recent financial scandals clearly highlight the interrelationships between all the themes explored in this book, from financial reporting to auditing, from management's motivations to fraud. Special features of this book include: - A critical examination of accounting 'theory' - Senior practitioners' insights on 'a true and fair view' - An exploration of 'the financial reporting expectations gap' - A discussion of the nature of 'corporate performance' - An examination of corporate fraud - An examination of the implications of 'real-time' reporting by companies - Discussion questions at the end of each chapter The book will be relevant to advanced undergraduate as well as postgraduate and MBA students.
Developments in Auditing and Assurance
Developments in Auditing and Assurance
Facts as facts do not always create a spirit of reality, because reality is a spirit.
In view of the diversity of theories about accounting and the problematic nature of the conceptual frameworks, this chapter aims to examine the development of the external audit to see if it can help clarify the scope and nature of financial accounting.
The external audit has evolved in line with changes in the auditor's role, the auditing environment, and auditing technology. Today, ‘[t]he annual audit is one of the cornerstones of corporate governance’ (Cadbury Report, 1992: 36). However, in the nineteenth century, the primary objective of the corporate audit was the detection of fraud. As the complexity of business developed ...
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