Open Access. Powered by Scholars. Published by Universities.®
- Keyword
Articles 1 - 7 of 7
Full-Text Articles in Accounting Law
A Democratic Perspective On Tax Law, Clint Wallace
A Democratic Perspective On Tax Law, Clint Wallace
Washington Law Review
As democracies around the world have faltered, legal scholars in fields as diverse as election law, labor law, and administrative law have turned to tax law to repair and support democratic governments. Taxation offers a toolset well-equipped to address concerns raised by democratic theorists focused on the conditions that shape a democratic community and help it to flourish. Tax laws can rectify social dynamics characterized by economic inequality and can help establish and strengthen civic institutions, among many possible interventions. But legal scholars evaluating and designing tax policies generally focus on the standard normative criteria of efficiency, equity, and administrability, …
Liability Of Accountants For Proxy Violations—The Appropriate Standard Of Culpability—Adams V. Standard Knitting Mills, Inc., 623 F.2d 422 (6th Cir.), Cert. Denied, 449 U.S. 1067 (1980), Bruce E. Dick
Washington Law Review
This note will first examine whether in fact accountants can be held primarily liable for proxy violations. Concluding that they can, the note will scrutinize the court's opinion to determine whether it requires scienter for all primary violators or only for accountants. The court's rationale suggests that the court intended to apply a uniform standard of culpability. This note will then compare the court's reasoning with the reasoning that led courts in two other circuits to choose, at least in some cases, negligence as the standard for primary violators. The comparison will show negligence to be the more appropriate minimum …
Liability Of Accountants For Proxy Violations—The Appropriate Standard Of Culpability—Adams V. Standard Knitting Mills, Inc., 623 F.2d 422 (6th Cir.), Cert. Denied, 449 U.S. 1067 (1980), Bruce E. Dick
Washington Law Review
This note will first examine whether in fact accountants can be held primarily liable for proxy violations. Concluding that they can, the note will scrutinize the court's opinion to determine whether it requires scienter for all primary violators or only for accountants. The court's rationale suggests that the court intended to apply a uniform standard of culpability. This note will then compare the court's reasoning with the reasoning that led courts in two other circuits to choose, at least in some cases, negligence as the standard for primary violators. The comparison will show negligence to be the more appropriate minimum …
Auditors' Third Party Liability: An Ill-Considered Extension Of The Law, Joseph P. Dawson
Auditors' Third Party Liability: An Ill-Considered Extension Of The Law, Joseph P. Dawson
Washington Law Review
Numerous legal commentators have recently advocated an extension of auditors' professional liability to third-party users of financial statements, with the dual purposes of inducing improved disclosure in financial statements and obtaining restitution for investors injured by misleading statements, and some judicial decisions have adopted such an expanded liability. This comment evaluates the probable effectiveness and effects of such expanded liability, concluding that the expansion is unlikely to obtain either of its stated objectives and that such an expansion is likely to create pressures upon the cost and availability of audits which will be injurious to both investors and users of …
Income Tax Allocations And Dividends Under The Model Business Corporation Act, Michael D. O'Keefe
Income Tax Allocations And Dividends Under The Model Business Corporation Act, Michael D. O'Keefe
Washington Law Review
Modern dividend statutes, as exemplified by the Model Business Corporation Act, have incorporated many accounting terms. For aid in the complex process of construing such statutes, the courts and commentators have turned to generally accepted accounting principles. Although accounting principles may be helpful in statutory interpretation, they are not determinative. The accounting attitude toward a transaction must still be correlated with the dividend policies inherent in the statute.
Income Tax Allocations And Dividends Under The Model Business Corporation Act, Michael D. O'Keefe
Income Tax Allocations And Dividends Under The Model Business Corporation Act, Michael D. O'Keefe
Washington Law Review
Modern dividend statutes, as exemplified by the Model Business Corporation Act, have incorporated many accounting terms. For aid in the complex process of construing such statutes, the courts and commentators have turned to generally accepted accounting principles. Although accounting principles may be helpful in statutory interpretation, they are not determinative. The accounting attitude toward a transaction must still be correlated with the dividend policies inherent in the statute.
Suggested Changes In State Of Washington Laws Regulating Municipal Accounting, Arthur N. Lorig
Suggested Changes In State Of Washington Laws Regulating Municipal Accounting, Arthur N. Lorig
Washington Law Review
In connection with a recent interest in improving the accounting for municipalities of the state of Washington, chiefly sponsored by the Association of Washington Cities, there appears to be a growing conviction that some of the state laws regulating such accounting need revision. The interest is directed principally toward the laws dealing with municipal budgeting and it is felt by some that a complete revision of the budget laws is warranted. On the supposition that, until a thorough revision is made possible, some improvements of a lesser scope might be made, this article suggests desirable changes in the laws. The …