International Accounting
5th Edition
ISBN: 9781259747984
Author: Doupnik, Timothy S., Finn, Mark T., Gotti, Giorgio
Publisher: Mcgraw-hill Education,
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Chapter 11, Problem 3Q
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Explain the provisions that are aimed at improving corporate governance.
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International Accounting
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- should corporate governance practices be included as part of legislation or is it preferable to allow organisations to self-regulate and hence, choose their own suitable corporate governance practices and structures?arrow_forwardWhat is the role of auditing in the accounting profession and how does it help to ensure accuracy and transparency?arrow_forwardWhat rules must auditors follow for governmental audits?arrow_forward
- How does the Single Audit Act work?What effect has this legislation had on governmental organization auditing?What formats do auditors' reports and opinions take?arrow_forwardExplain how the purposes and principles of internal controls are different between accounting systems reporting under IFRS versus U.S. GAAP.arrow_forwardWhat is the role of an internal auditor in enhancing good corporate governancearrow_forward
- Should U.S. public accounting firms try to audit internationally in cultures they may not understand? If so, how can they maintain quality audits?arrow_forwardWhat is the role of commission on audit in fiscal administration?arrow_forwardwhat are some examples of internal controls? How are internal controls related to the Sarbanes-Oxley legislation? Separately, what is the role of the internal audit function in an organization, and how does this function relate to internal control?arrow_forward
- Which financial-service firms are regulated primarily at the federal level and which at the state level? Can you see problems in this type of regulatory structure?arrow_forwardWhich of the following groups is responsible for developing auditing standards for public firms in the U.S.? A. American Institution of Certified Public Accountant (AICPA)B. Public Company Accounting Oversight Board (PCAOB)C. Organizations for Economic Cooperation and Development (OECD)D. Center for Audit Quality (CAQ)arrow_forwardWhat is the role of the Sarbanes-Oxley Act and the Public Company Accounting Oversight Board?arrow_forward
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