Fearnley / Beattie / Hines Reaching Key Financial Reporting Decisions

How Directors and Auditors Interact
1. Auflage 2011
ISBN: 978-1-119-97375-1
Verlag: John Wiley & Sons
Format: EPUB
Kopierschutz: Adobe DRM (»Systemvoraussetzungen)

E-Book, Englisch, 384 Seiten, E-Book

The regulatory framework for financial reporting, auditing andgovernance has changed radically in recent years, as a result ofproblems identified from the Enron scandal and more recently fromthe drive to implement global standards. In a key regulatorychange, a company audit committee is now expected to play asignificant role in agreeing the contents of the financialstatements and overseeing the activities of the auditors. FinanceDirectors, Audit Committee Chairs and Audit Engagement Partners arerequired to discuss and negotiate financial reporting and auditingissues, a significant process leading to the agreement of thepublished numbers and disclosures, and to the issuing of theauditor's report which accompanies them, but which is entirelyunobservable by third parties.
Reaching Key Financial Reporting Decisions: How Directors andAuditors Interact is a fascinating, behind-the-scenesexamination of this closed process. The authors draw on the resultsof face to face interviews, and an extensive survey of financedirectors, audit committee chairs and audit partners, and presentnine company case studies highlighting the process of discussionand negotiation and the methods by which the agreed financialreporting outcome was reached. Detailed analysis of the casestudies:
* Allows those involved in the process to benchmark theirbehaviours against those of others
* Enables a comparison between the previous and currentregulatory environments to see what has changed, and sheds light onthe sorts of behaviours the current regulatory frameworkencourages
* Evaluates the effectiveness of the changed regulatory regime,providing evidence relevant to current policy debates concerningthe value of audit, IFRS and the relative merit of rules-basedversus principles-based accounting standards in relation toprofessional judgement and compliance
The unprecedented access and unique insights offered by thisbook make it invaluable for audit firm staff and partners, auditcommittee chairs and company directors involved in agreeing thepublished financial statements, as well as those who have aninterest in the financial statements, but do not have access to thenegotiation process.

Autoren/Hrsg.

Fearnley, Stella

Beattie, Vivien

Hines, Tony

Über Autor(innen)

Vivien Beattie is Professor of Accounting and Director ofResearch at the Business School, University of Glasgow. She is amember of the Accounting Standards Board's Academic Panel, a memberof the Accounting Standards Committee at The Institute of CharteredAccountants of Scotland and was a panel member for Accounting andFinance in the 2008 Research Assessment Exercise conducted in theUK. She has published over 100 academic journal articles, researchreports, books and professional articles. Her co-authored researchbook Behind Closed Doors: What Company Audit is Really Aboutwas awarded the prestigious Deloitte/American AccountingAssociation Wildman Medal in 2007.
Stella Fearnley BA FCA is Professor in Accounting at theUniversity of Bournemouth Business School. Stella spent 16 yearswith Price Waterhouse and Grant Thornton before becoming anacademic. Her research interests cover audit and financialreporting and she has received over £700,000 funding. She haspublished over 100 articles in professional and academic journalsand national newspapers and is co-author with Vivien Beattie ofBehind Closed Doors. Stella was a member of the UK FinancialReporting Council's Professional Oversight Board from 2004 to 2009and was an elected member of the ICAEW Council from 1992 to2004.
Tony Hines MSc FCA is Head of the Department ofAccounting and Finance at Portsmouth Business School. He trainedwith Coopers and Lybrand and became an academic shortly afterqualifying as a chartered accountant. Tony's main researchinterests are the Financial Reporting Review Panel and theregulation of financial reporting and audit and he has publishedwidely on these issues.