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COVER
STORY
Sustainability
Reporting Simplified - - Koot Naude
Sustainability
reporting is being highlighted due to the move from exclusive
reporting of annual economic performance to integrated reporting.
Integrated reporting is a new form, where performance with
respect to the natural environment and society is added to
the general annual reports. Now, the Japanese lead in implementing
sustainability reporting whereas the USA is way behind.
© 2005 Accountancy SA (www.accountancy.org.za). Reprinted
with permission.
COST
ACCOUNTING
A
Fairwell to History - - Justin Wood
As
historical cost accounting gives way to fair value, Europe's
CFOs are bracing for turbulent times.
© 2005 CFO Publishing Corporation. Reprinted with permission.
AUDITING
Audit
Firm Rotation and Audit Quality - - Barbara Arel, Richard , G Brody and Kurt Pany
Financial
reporting failures at major companies led to reforming of
reports contained in Sarbanes-Oxley Act 2002 (SOA). These
reforms related to auditors include increased audit committee
responsibilities and mandatory rotation of lead auditors after
five consecutive years. The question is whether this audit
firm rotation will enhance audit quality and the cost of this
enhancement.
© 2005 The CPA Journal (www.nysscpa.org). Reprinted with permission.
CORPORATE
GOVERNANCE
Accommodating
Would-Be Whistleblowers - - Paul Sweeney
Sarbanes-Oxley's
Section 301 requires companies to establish effective procedures
for handling whistleblower complaints. Attorneys, consultants
and others talk about just how companies can best do that.
© 2005 Financial Executive Magazine (www.financialexecutivemag.com).
Reprinted with permission.
ACCOUNTING
STANDARDS
A
Year of Change - - Stephen Spector
This
article presents a quick review of key changes made to Canadian
accounting and assurance standards over the past year.
© 2005 CGA-Canada. This article first appeared in the November-December
2004 issue of CGA Magazine. Reprinted with permission from
CGA-Canada.
ACCOUNTING
STANDARDS
Quality
Control - - Jacqui M Bridel and Donald E Jeffreys
The
commitment to enhance the quality of assurance engagements
is evident in the new standards.
© November 2004 CA Magazine (www.camagazine.com). Published
by The Canadian Institute of Chartered Accountants, Toronto,
Canada. Reprinted with permission.
EARNINGS
MANAGEMENT
Cookie
Jar Reserves - - Jyothi G Rao
The
artificial making of reports by twisting the numbers as per
requirements and making them what they are actually has not
proven accounting as a deterministic science. To avoid these
malfunctions, accounting standards are created to lend uniformity
to the reports of different companies. Earnings management
is defined as implementing intentional window dressing to
the numbers to meet the desired objectives set by the management.
© 2005 IUP. All Rights Reserved.
EARNINGS
MANAGEMENT
Linking
Contingent Capital, Operational Risk Management and Pension
Fund Holes - - Stefan M Wasilewski
The
generally considered performance measure is the earning of
the business, but the market never identified that every business
will have a life cycle. Risk management is nowadays on safe
grounds as businesses lack knowledge in true venture capital.
Identifying the life cycle will help in high start-up capital
and balance the risk across a portfolio of life cycles.
© 2005 Stefan M Wasilewski. Originally published in www.gtnews.com
on Janaury 24, 2005. Reprinted with permission.
BUSINESS
ENVIRONMENT
Price
Equals Value Plus Terms - - Joel Sinkin
When
a firm changes hands, a satisfying deal for both buyer and
seller is in the trade-off details.
© 2004 AICPA (www.aicpa.org). Reprinted with permission.
TECHNOLOGY
Taking
the Leap: Using Audit Software in Gaming Audit Shops - - Jody Whitley
Three
gaming audit leaders reveal their strategies for adopting
current audit technology.
© 2005 The Institute of Internal Auditors, Inc. Originally
published in ITAudit, February 15, 2005, published by The
Institute of Internal Auditors, Inc. (www.theiia.org). Reprinted
with permission.
SPEECH
Remarks
Before the Public Hearing on the IASC Constitution Review - - Donald T Nicolaisen
This
speech was presented by Donald T Nicolaisen, Chief Accountant,
US Securities and Exchange Commission, on setting accounting
standards and their importance. Accounting standards will
provide the basic requirements for reporting transparent,
high-quality financial information to investors in the capital
markets. This speech is all about the important of standards
for the investors and their implications.
© 2004 US Securities and Exchange Commission (www.sec.gov).
Speech by David T Nicholaisen, Chief Accountant, US Securities
and Exchange Commission delivered on June 3, 2004 in Baruch
College, New York. Reprinted with permission. |
