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Articles 1 - 3 of 3
Full-Text Articles in Law
United States Accounting Standards - Rules Or Principles? The Devil Is Not In The Details, Matthew A. Melone
United States Accounting Standards - Rules Or Principles? The Devil Is Not In The Details, Matthew A. Melone
University of Miami Law Review
No abstract provided.
The Toothless Watchdog: Corporate Fraud And The Independent Audit - How Can The Public's Confidence Be Restored?, David F. Birke
The Toothless Watchdog: Corporate Fraud And The Independent Audit - How Can The Public's Confidence Be Restored?, David F. Birke
University of Miami Law Review
No abstract provided.
Rules, Principles, And The Accounting Crisis In The United States, William Wilson Bratton
Rules, Principles, And The Accounting Crisis In The United States, William Wilson Bratton
Articles
The Sarbanes-Oxley Act and the Securities Exchange Commission move too quickly when they prod the Financial Accounting Standards Board, the standard setter for US GAAP, to move immediately to a principles-based system. Priorities respecting reform of corporate reporting in the US need to be ordered more carefully. Incentive problems impairing audit performance should be solved first through institutional reform insulating the audit from the negative impact of rent-seeking and solving adverse selection problems otherwise affecting audit practice. So long as auditor independence and management incentives respecting accounting treatments remain suspect, the US reporting system holds out no actor plausibly positioned …