Details on Accounting Reform
- Topics:
- Audits,
- Sarbanes Oxley Compliance
- Tags:
- Accounting,
- Regulatory Compliance,
- Regulations,
- Profession,
- Policies And Procedures,
- Pennsylvania Institute Of Certified Public Accountants,
- Operational Accounting,
- Human Resources,
- Government,
- Financial Services,
- ...
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Overview: For over a century, our profession has enjoyed a reputation as America's most trusted financial advisors and guardians of the public trust. Yet, following Enron, WorldCom and other high profile business failures, our greatest asset-public confidence-as well as our long history of self-regulation, has been called into question. In the wake of this turbulent environment, President Bush signed into law sweeping changes to the accounting profession and the business community-the Sarbanes-Oxley Act of 2002. The Act brings a new era for the profession, particularly in standard setting and peer review. This article asserts that it includes a number of AICPA-recommended reforms and the final legislation also incorporates elements that we questioned.
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Format: HTML | Date: Sep 2002 | Pages: 1
