...Open Journal of Accounting, 2013, 2, 8-15 http://dx.doi.org/10.4236/ojacct.2013.21003 Published Online January 2013 (http://www.scirp.org/journal/ojacct) Sarbanes-Oxley and the Accounting Profession: Public Interest Implications Sara Ann Reiter1, Paul F. Williams2 2 1 Binghamton University, Binghamton, USA North Carolina State University, Raleigh, USA Email: sreiter@binghamton.edu Received October 31, 2012; revised December 1, 2012; accepted December 12, 2012 ABSTRACT The US accounting profession was caught up in, and some say responsible for, the whirlwind of accounting and business scandals that rocked the US markets in 2002. To restore investor confidence in financial information, the Sarbanes-Oxley Act created a new Public Company Accounting Oversight Board with the authority to set standards for auditors of publicly traded companies, thus ending a century of professional regulation of auditing. In this analysis we employ sociological theories of professionalism [1-4] to help understand the implications of the Sarbanes-Oxley legislation for the accounting profession and for the public interest. We explain why professional self-regulation is important for retaining valuable economic franchises. We also explain why the public interest orientation of the profession is important and how government take-over of auditing standards potentially erodes the public accounting profession’s commitment to the public interest. Self-control over professional work, a key characteristic...
Words: 6097 - Pages: 25
...a Tasnima Bhuiyan Ancient History HSC notes Core study; Cities of Vesuvius- Pompeii & Herculaneum 1. Geographical context Physical environment: geographical setting, natural features and resources of Pompeii and Herculaneum Geographical setting Pompeii and Herculaneum were located in Campania, southwest Italy near Bay of Naples. Herculaneum was a waterfront town situated on the coast of Bay of Naples 7km west of Mt Vesuvius, while Pompeii was slightly inland on the Sarno river, 9km southeast of Mt Vesuvius. Both towns were linked to Rome through sea and land routes. Natural features Campania was a fertile plain with two main rivers. Nearby there was a 15km wide series of craters, where pools were filled with boiling mud and vents, from which sulphur and steam could escape. The towns were popular because of their rich volcanic soil, coastal area for fishing and trading area. Resources of Campania The production of olive oil was used for cooking, and as the basic ingredient for perfume. Wine, wool and textile productions took place, along with the fishing industries including the production of fish sauce. There were fruits such as peaches, apricots, lemons & vegetables like cabbages and onions, and volcanic material was used for building and paving roads. Plans and streetscapes of Pompeii and Herculaneum ▪ streets of Pompeii vary greatly in width from 2.4m to roughly 7m ▪ streets & roads divide towns into neat rectangular...
Words: 8796 - Pages: 36
...policy issues and has championed initiatives to increase industrywide productivity and growth. GMA member companies employ more than 2.5 million workers in all 50 states and account for more than $680 billion in global annual sales. The association is led by a board of member company chief executives. For more information, visit the GMA website at www.gmabrands.com The Food Products Association (FPA) is the largest trade association serving the food and beverage industry in the United States and worldwide. FPA’s laboratory centers, scientists, and professional staff provide technical and regulatory assistance to member companies and represent the food industry on scientific and public policy issues involving food safety, food security, nutrition, consumer affairs, and international trade. For more information, visit FPA’s website at www.fpa-food.org The member firms of the PricewaterhouseCoopers network (www.pwc.com) provide industry-focused assurance, tax, and advisory services to build public trust and enhance value for its clients and their stakeholders. More than 130,000 people in 148 countries across our network work collaboratively using connected thinking to develop fresh perspectives and practical advice. © 2006 PricewaterhouseCoopers LLP. All rights reserved. “PricewaterhouseCoopers” refers to PricewaterhouseCoopers LLP (a Delaware limited liability partnership) or, as the context requires, the PricewaterhouseCoopers global network or other member...
Words: 24438 - Pages: 98
...Guía Práctica de Gobierno Corporativo Experiencias del Círculo de Empresas de la Mesa Redonda Latinoamericana Motivación Motivación Índice Índice de Términos Índice Índice de Términos Copyright © 2010 Corporación Financiera Internacional 2121 Pennsylvania Ave. NW, Washington, DC 20433 Estados Unidos de América Miembro del Grupo del Banco Mundial Todos los derechos reservados. Las observaciones, interpretaciones y conclusiones expresadas en esta publicación no deben atribuirse en modo alguno a la Corporación Financiera Internacional (IFC), la Organización para la Cooperación y el Desa rrollo Económicos (OCDE) ni a sus instituciones afiliadas, los miembros de sus directorios / juntas / consejos o los países que representan. La IFC y la OCDE no garantizan la exactitud de los datos contenidos en esta publicación, ni aceptan responsabilidad alguna por las consecuencias de su uso. La información corporativa proporcionada por los miembros del Círculo de Empresas de la Mesa Redonda Latinoamericana sobre Gobierno Corporativo, refleja las opiniones de la gerencia y el directorio / junta / consejo de las empresas sobre sus motivaciones, desafíos, soluciones y ventajas para el diseño y la aplicación de mejores normas y prácticas de gobierno corporativo. El contenido de esta publicación está registrado como propiedad intelectual. Su reproducción y/o transmi sión, total o parcial, sin la debida autorización, puede constituir una violación de la legislación...
Words: 95305 - Pages: 382