Accounting and the Global Economy After Sarbanes-Oxley

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M.E. Sharpe, 2008 - Business & Economics - 258 pages
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This book is essential for students and practitioners in accounting, international business, finance, and economics. In a straightforward and readable style, it focuses on the changing accounting and auditing standards in national and global economies in the post-Enron/Arthur Andersen era. The authors clarify the reasons behind and consequences of the accounting profession's failure in auditing and self-regulation, as most firms placed consulting profits ahead of public audit duties. They show how Sarbanes-Oxley solutions, while not perfect, are major contributors to the profession's redemption, and have enabled it to rise to new heights of service and revenue. The book offers a detailed examination of accounting practitioners' past challenges and future prospects. It provides a realistic analysis of specific issues facing accounting and auditing firms today, including the growing problem of independence; the need for one set of international accounting standards and one set of auditing standards; adjustments facing the global financial system; and the impact of the Internet and communication systems on accounting firms.

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Contents

Accounting and Auditing Standards as Operating
3
Overview of Accounting Standards in the Global Economy
24
The Role of Auditing Standards
39
Copyright

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About the author (2008)

DON E. GARNER is Professor and former Chair of the Department of Accounting at California State University, Stanislaus. He is a certified public accountant and a certified internal auditor as well as a specialist in auditing and accounting.

DAVID L. MCKEE is Professor of Economics in the Graduate School of Management of Kent State University, where he specializes in development economics and economic change.

YOSRA ABUAMARA MCKEE, Ph.D., is a member of a statewide research team funded by the Ohio Urban Universities Program.

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