Contemporary Issues in accointing and finance

Contemporary Issues in accointing and finance Coursework example
High school
Coursework
Finance & Accounting
Pages 6 (1506 words)
Download 0
7BSP0380 - Contemporary Issues In Accounting And Finance (Semester B 2010/11) Academic research has no real life relevance and makes no contribution to the development of accounting and/or finance regulation. Student's Name: Alduraywish, Ali ID Number: 10242974 Word count: 1456 This paper will answer the question whether academic research has no real life relevance and makes no contribution to the development of accounting or finance regulations…

Introduction

Public interest is the collective well-being of people and the institutions they serve. Failure to fulfil this mandate can have very serious adverse consequences such as what happened to the Arthur Andersen auditing firm for being complicit in the Enron scandal. This paper examines the role of accounting in serving public interest versus self-interest when accountants and auditors are engaged for their services. I will state the answer to the above question is in the negative in relation to the financial crisis brought about by the bursting of the real estate asset price bubble and the issue of stock buybacks within the context of academic research. Real life as used in this paper refers to actual business and economic conditions; regulations pertain to all the government orders issued to control conduct of business to protect public interest. The accounting profession adopted a code of ethics and professional conduct for its members to guide them in serving public interest. ...
Download paper
Not exactly what you need?

Related papers

Finance essay on contemporary auditing issues
This letter is also prepared on the basis of which we (Loughran and Shrives), acting as an auditor of Hammerson plc would be responsible for ensuring that utmost transparency and efficiency is maintained in the audit process. Additionally, engagement letter for Hammerson plc is mentioned below: To the Directors of Audit Committee, As an auditor of Hammerson plc, we are taking the opportunity to…
Finance and accounting: contemporary auditing
To The Audit Committee, The purpose of this letter is to invite the company i.e. KAZAKHMYS to involve in a relationship with our audit firm. It has been observed that the company KAZAKHMYS acts according to the rules and the regulations mentioned in Companies Act 1985. The company is one of the renowned natural resources group. The company wants our audit firm to do statutory audit and stock audit…
Contemporary Issues in Finance
This paper is a brief article about the financial crisis which was being identified by the end of 2007 till the beginning of 2008. It was due to the ill-effects of the crisis that regulatory reforms were taken by US, UK and EU regions. This paper will thereby focus on the regulatory reforms adopted by these nations in the milieu of the 2008 financial crisis. Regulatory Framework of US Financial…
Current Issues In Finance
According to the theory of capital structure, the major features of the conception constitute with maximum return with minimum risk, flexibility in resource allocation, adequate liquidity, conservation of reserves, balanced capital flow and leverage, which accumulatively helps in assisting the smooth flow of finances stimulating the overall business operations. It is in this context that according…
Contemporary Issues in Financial Services
This paper will, therefore, identify and discuss some of the key and contemporary issues that have emerged in the financial services sector. The main aim will be to bring into focus some of the key issues in the nature and functionality of financial systems that continue to influence the economy and other financial service operations. To begin, it has been noted that the financial systems in the…
Contemporary Issues in Accounting and Finance.
They consider all this to create an enabling environment that favors their objectives (Jaiswal, 2013). The Standards of the Auditors Ready Ratios (2013) asserts that in the 21st century the European Union came up with an outline of how the auditors should conduct themselves. The outline consisted of the law that stated and guaranteed matters concerning the freedom of the assessors of the law…
Contemporary issues in accounting and finance
A recent FEE (Federation of European Accountants) publication states that “an individual’s objectivity must be beyond question when conducting and reporting on a statutory audit” (FEE). This paper will critically evaluate this statement with particular reference given to some fundamental financial/accounting/auditing concepts and external studies. Objectivity of statutory auditors There are…