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
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2009, according to entrylevel job site CollegeGrad.com. One reason for this interest is found in the statement by former Secretary of the Treasury and Economic Advisor to the President, Lawrence Summers. He noted that the single-most important innovation shaping our capital markets was the idea of generally accepted accounting principles (GAAP). We agree with Mr. Summers. Relevant and reliable financial information is a necessity for viable capital markets. Without it, our markets would be chaotic, and
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society, and even the planet. Integrated reporting, which encompasses elements of traditional financial reporting, sustainability reporting, and governance reporting within a single presentation, represents a growing trend that reflects these new expectations. The core concept underlying the term “integrated reporting” is providing one report that fully integrates a company’s financial and non-financial (including environmental, social, governance and intangibles) information. Integrated reporting
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College Complex East Lansing, MI 48824-1122 e-mail: farberd@msu.edu (517) 432-0615 First Draft: January 2003 Current Draft: January 7, 2004 This paper is adapted from my dissertation completed at Cornell University. I would like to thank my committee chairperson, Julia D’Souza, for her unwavering support and guidance in the development of this paper. I also thank my other committee members - Charles Lee, Tim Mount, and Bhaskaran Swaminathanas well as Daniel Beneish, Walt Blacconiere, Tom Dyckman
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Running Head: GLOBAL FINANCIAL REPORTING: Global Financial Reporting: Why Move Toward Global Financial Reporting Connie Cerruto Student ID 3247960261 Accounting Capstone: Senior Seminar in Accounting ACC 499 005016 Winter Semester 2008 Submitted to Professor Tee Thein March 16, 2008 Dedication and Acknowledgement I would like to take this time to thank my husband, George, for all his support over this last ten weeks. For graciously doing
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company’s financial statements is provided as background material. Case 3 (adapted from a case prepared by Peter Secord, Saint Mary’s University) A Canadian company prepares two sets of financial statement: one based on Canadian GAAP, and the other on U.S. GAAP. The reasons for some of the differences in numbers are investigated. Case 4 This case is based on Homburg Invest Inc.’s 2006 financial statements. A reconciliation of differences between two sets of financial statements is required
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I. JURISDICTIONAL STATEMENT APPELLANT LISA KAY BRUMFIEL (“Brumfiel”), appeals all Orders of Judge Pratt’s beginning with the Order applying the CAPP program through the Order Granting CLG Attorney’s fees. All orders are final (Rule 54(b)). The Appeal, subject to C.A.R. 31(c) and C. A. R. 28(a), RT=Reporters Transcript; AA: =Appendix; Ad: =Addendum (Orders attached to brief). II. STATEMENT OF ISSUES A. Whether the court erred in concluding that Brumfiel failed to state a claim under 12(b) (5);
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Glossary Notes: Note 1: CICA Part I applies to publicly accountable enterprises, CICA Part II ASPE applies to private enterprises; CICA Part III ASNFPO applies to not-for-profit organizations. CICA Part IV ASPP applies to pension plans. For governments and government organizations, see under Public Sector Accounting (PSA) Handbook for details of what applies. Note 2: Part II and V Definitions may not be identical — check the CICA Handbook — Accounting. A B C D E F G H I J K L M N O P Q
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Glossary Notes: Note 1: CPA Canada Handbook Part I applies to publicly accountable enterprises, CPA Canada Handbook Part II ASPE applies to private enterprises; CPA Canada Handbook Part III ASNFPO applies to not-for-profit organizations. CPA Canada Handbook Part IV ASPP applies to pension plans. For governments and government organizations, see under Public Sector Accounting (PSA) Handbook for details of what applies. Note 2: Part II and V Definitions may not be identical — check the CPA
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establish policies relating to auditor independence. Also, it may assist policy makers and other relevant international accounting agencies in their attempt towards the international harmonization of auditing standards. The major contribution of this paper is that it supplies recent evidence on factors influencing auditor
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