Regulatory, Cultural and Ethical Dimensions to the Introduction of International Accounting Standards

Regulatory, Cultural and Ethical Dimensions to the Introduction of International Accounting Standards Essay example
Masters
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Finance & Accounting
Pages 10 (2510 words)
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Running head: Regulatory, Cultural and Ethical Dimensions to the Introduction of International Accounting Standards Regulatory, Cultural and Ethical Dimensions to the Introduction of International Accounting Standards Insert Name Insert Grade Course Insert Tutor’s Name 9 March 2012 Regulatory, Cultural, and Ethical Dimensions to the Introduction of International Accounting Standards Introduction Accounting practices have from time to time been compiled by the desire and directive from corporate influences to harmonize rules and regulations of financial reporting to international standards…

Introduction

However, corporations and business entities at large comply with International Accounting Standards directive and regulation as a basic legislation that not only streamlines financial reporting, but also as a specific entity’s need for auditing. Compliance with International Accounting Standards extends beyond the financial aspects of company’s regulatory dimension in reporting, and encompasses both cultural and ethical dimensions of the accounting profession. Regulatory Dimensions Companies are often placed under regulations with respect to international accounting standards to enable the accounting professionals to provide an honest and accurate financial image to company’s stakeholders. Through compliance with international accounting standards regulations, companies are bound to benefit from their investors’ confidence with regards to truthful and accurate reporting of the financial situation and performance of the company. ...
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