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The problems of international auditing harmonisation

The problems of international auditing harmonisation PDF Author: Stefan Bode
Publisher: GRIN Verlag
ISBN: 3638623947
Category : Business & Economics
Languages : en
Pages : 30

Book Description
Seminar paper from the year 2007 in the subject Business economics - Revision, Auditing, grade: 1,0, University of Glamorgan, course: International Accounting & Auditing, language: English, abstract: This essay provides an analysis of the many hurdles in the process of truly harmonised international auditing standards. The method of analysis for this essay included a review of the current literature available in libraries and on the internet. The cultural barriers are regarded as the most difficult to overcome since they comprise of people’s behaviours as well as languages. Further, it is stated that the translation process is one of the major hurdles since words in different languages are not equivalent to the English ones. Moreover, cultural diversity may also cause a general resistance as the standards are dictated by big audit firms. Additionally, the IFAC is mainly influenced by the USA and the EU which might continue to cast a damning light on the ISA. Alternatively, the level of education and the lack of professional auditing bodies in some developing countries embody the social problems. The political hurdles contain the pride of sovereignty and the political system of countries. Additionally, governments are reluctant to abandon their right to prescribe the standards for professions. Furthermore, it will also be difficult to find a majority in the national parliaments because current national standard-setters or representatives from businesses might exert pressure on the members of parliament to reject ISA. On the other hand, differences in national legislation as well as in the legal system are the main part of legal obstacles. Nowadays, a marked distinction can be drawn between the common law which is predominant in Anglo-Saxon countries and the codified law which is applied in many European continental countries. Beyond this, differences in the effectiveness of countries legal structure and national regulations like auditors’ liability, accounting rules also adversely impair the harmonisation process. Lastly, the economic hurdles are characterised by different user orientation of financial statements and the stages of technological developments. Further, auditors in developed countries need other standards as their counterparts in developing countries due to the growth of e-commerce and e-business. Finally, it is concluded that truly harmonised standards may not be feasible because of the many differences between countries. It seems more important to achieve a minimum set of international auditing standards as unitary standards generate many benefits.

The problems of international auditing harmonisation

The problems of international auditing harmonisation PDF Author: Stefan Bode
Publisher: GRIN Verlag
ISBN: 3638623947
Category : Business & Economics
Languages : en
Pages : 30

Book Description
Seminar paper from the year 2007 in the subject Business economics - Revision, Auditing, grade: 1,0, University of Glamorgan, course: International Accounting & Auditing, language: English, abstract: This essay provides an analysis of the many hurdles in the process of truly harmonised international auditing standards. The method of analysis for this essay included a review of the current literature available in libraries and on the internet. The cultural barriers are regarded as the most difficult to overcome since they comprise of people’s behaviours as well as languages. Further, it is stated that the translation process is one of the major hurdles since words in different languages are not equivalent to the English ones. Moreover, cultural diversity may also cause a general resistance as the standards are dictated by big audit firms. Additionally, the IFAC is mainly influenced by the USA and the EU which might continue to cast a damning light on the ISA. Alternatively, the level of education and the lack of professional auditing bodies in some developing countries embody the social problems. The political hurdles contain the pride of sovereignty and the political system of countries. Additionally, governments are reluctant to abandon their right to prescribe the standards for professions. Furthermore, it will also be difficult to find a majority in the national parliaments because current national standard-setters or representatives from businesses might exert pressure on the members of parliament to reject ISA. On the other hand, differences in national legislation as well as in the legal system are the main part of legal obstacles. Nowadays, a marked distinction can be drawn between the common law which is predominant in Anglo-Saxon countries and the codified law which is applied in many European continental countries. Beyond this, differences in the effectiveness of countries legal structure and national regulations like auditors’ liability, accounting rules also adversely impair the harmonisation process. Lastly, the economic hurdles are characterised by different user orientation of financial statements and the stages of technological developments. Further, auditors in developed countries need other standards as their counterparts in developing countries due to the growth of e-commerce and e-business. Finally, it is concluded that truly harmonised standards may not be feasible because of the many differences between countries. It seems more important to achieve a minimum set of international auditing standards as unitary standards generate many benefits.

International Auditing

International Auditing PDF Author: Leslie G. Campbell
Publisher: Springer
ISBN: 1349071447
Category : Business & Economics
Languages : en
Pages : 256

Book Description


International Accounting Harmonization

International Accounting Harmonization PDF Author: J. Beke
Publisher: Springer
ISBN: 1137374349
Category : Political Science
Languages : en
Pages : 224

Book Description
International Accounting Harmonization analyzes the differences between national accounting rules and international accounting methods, showing that when firms adopt international accounting standards they achieve significantly higher positive coefficients compared with firms that only take on local accounting strategies.

International Finance and Accounting Handbook

International Finance and Accounting Handbook PDF Author: Frederick D. S. Choi
Publisher: John Wiley & Sons
ISBN: 0471647942
Category : Business & Economics
Languages : en
Pages : 889

Book Description
"International Accounting + Finance Handbook" - Jetzt neu in der 3. aktualisierten Auflage. Ein ausgezeichnetes Nachschlagewerk für alle, die mit Rechnungslegung, Finanzberichterstattung, Controlling und Finanzen im internationalen Umfeld zu tun haben. Es vermittelt Managern die notwendigen Tools, um die Unterschiede bei Bilanzierungsgrundsätzen, Finanzberichterstattung und Buchprüfungsverfahren in der internationalen Finanzarena in den Griff zu bekommen. Der Band gibt einen Überblick über internationale Rechnungslegungs- und Finanzfragen und weist auf wichtige Trends in der internationalen Rechnungslegung und Finanzwirtschaft hin. Mit Beiträgen von Vertretern der "Großen 5" amerikanischen Anwalts- und Finanzfirmen sowie von bekannten Akademikern. Mit ausführlichem Beispielmaterial aus der Praxis sowie zahlreichen Fallstudien. Autor Frederick Choi ist ein führender Experte auf dem Gebiet der internationalen Rechnungslegung und Finanzwirtschaft und verfügt über umfangreiche praktische Consulting-Erfahrung.

Harmonization of Accounting Standards

Harmonization of Accounting Standards PDF Author: Organisation for Economic Co-operation and Development
Publisher: Organisation for Economic Co-operation and Development ; Washington, D.C. : OECD Publications and Information Centre
ISBN:
Category : Business & Economics
Languages : en
Pages : 160

Book Description
The main features of standard-setting; Promoting international harmonization of accounting standards the role of intergovernmental organisations; Institution and substantive problems for harmonization ...

International Auditing

International Auditing PDF Author: David O'Regan
Publisher: John Wiley & Sons
ISBN: 0471476951
Category : Business & Economics
Languages : en
Pages : 314

Book Description
Stay abreast of the latest information on international auditing with this indispensable resource. Obtain practical guidance in such areas as risk assessment, logistics, and cultural/business environment in an international context. Examine the risks international companies face as a cost of doing business and learn proven methods of addressing these risks. This guide gives you advice on how to plan safe and efficient auditing assignments and provides information on regions and countries throughout the world to allow you to place your assignment in a wide context. Order your copy today!

International Accounting and Multinational Enterprises

International Accounting and Multinational Enterprises PDF Author: Lee H. Radebaugh
Publisher: John Wiley & Sons
ISBN: 0471652695
Category : Business & Economics
Languages : en
Pages : 520

Book Description
This text presents international accounting within the context of managing multinational enterprises, focusing on business strategies and how accounting applies to these strategies. This unique approach gives students the opportunity to learn about international accounting from a perspective similar to what they will experience in the business world. The book explains the key factors that influence accounting standards and practices in different countires, and how those factors impact the convergence of standards worldwide. Particular emphasis is given to culture and its unique contribution to accounting standards and practices worldwide. The book focuses on the needs of users of financial and accounting information across borders with the aim of enhancing their understanding of how to use information and make more informed decisions in an increasingly complex and dynamic international business environment.

International Corporate Reporting

International Corporate Reporting PDF Author: Pauline Weetman
Publisher: Routledge
ISBN: 0429774605
Category : Business & Economics
Languages : en
Pages : 425

Book Description
This textbook provides a comprehensive overview of international corporate reporting which enhances students’ understanding of diversity and convergence in the field. The authors discuss the institutional and cultural context in which international corporate reporting has developed over the years as well as the global reach of IFRS Standards from the IASB throughout and beyond the European Union, into interest groups and emerging economies. Other key elements explored throughout the book include assurance through auditing and corporate governance, narrative reporting, strategic and corporate social responsibility, group accounting, current accounting issues and taxation in corporate reports. Indicative research examples show how the methods used in research papers may be understood and applied. Case studies outline short projects based on corporate cases, with related links to material on corporate websites. Helpful and reliable sources of information and data are identified through hyperlinks to accessible websites. End-of-chapter questions encourage discussion of the main issues. Throughout there is a focus on accountability and the information needs of stakeholders. This new edition of a classic text is fully revised and updated in order to remain essential reading for students of international accounting and corporate reporting globally. The book will be an invaluable resource for postgraduate taught programmes and final-year undergraduate courses in accounting, finance and business studies.

IFRS for Small and Medium-Sized Enterprises

IFRS for Small and Medium-Sized Enterprises PDF Author: Richard Wittsiepe
Publisher: Springer Science & Business Media
ISBN: 3834997544
Category : Business & Economics
Languages : en
Pages : 220

Book Description
Richard Wittsiepe analyses the relevant IFRS statements with a view to possibly integrating them into existing workflows in an annual audit. He weighs the key issues of conversion by comparing them with the 4th EU Directive for accounting within the EU. The aim is to visualise the workflows as the basis for creating support software which can make a key contribution to cost-effective conversion.

Public Sector Accounting and Auditing in Europe

Public Sector Accounting and Auditing in Europe PDF Author: I. Brusca
Publisher: Springer
ISBN: 1137461349
Category : Political Science
Languages : en
Pages : 443

Book Description
The book provides an overview of the governmental accounting status quo in Europe by analysing the public sector accounting, budgeting and auditing systems in fourteen European countries. IT sheds light on the challenges faced by European countries as they move towards adoption of the European Public Sector Accounting Standards (EPSAS).