A time to face the music - or cover up?

Article Abstract:

There is a June 30, 1998, balance date that will require Australian companies to report foreign exchange losses. Some companies' treasurers have used the 'historical-rate rollover' product to disguise serious losses from the CEO, audit committee and board of directors. Australian banks should agree to curtail the use of this product which is used sparingly in the UK and the US.

Accounting and auditing, Corporations

---

Ernst & Young partners enjoy profit surge of 35% despite stable fees

Article Abstract:

Ernst and Young Australia officials plan to double fee growth in 1998, even though profits increased by 35% in 1997 with little fee growth. Targets range from 20% to as high as 70%. Although clients tend to dislike hourly, open-ended fees and want a single job price, Ernst plans to add value such as faster client response times and improved customer service.

Financial Services, Finance and Insurance, Financial services industry, Finance, Ernst and Young Australia

---

Reality cheques in e-land

Article Abstract:

Issues are presented concerning the share options given to senior executives of accounting firms in electronic commerce companies which they helped to set up. The 1% stake give to Barry Melancon is discussed.

Management, Officials and employees, Behavior, Stock options, American Institute of Certified Public Accountants, Melancon, Barry

Similar abstracts:

• Abstracts: As women start to use the Internet more for shopping, the prospects sharply improve for on-line retailers. Ticketmaster and Microsoft settle suit on Internet linking
• Abstracts: A conspiracy theory worth worrying about. The troubled language of accounting gets tongue-tied over intangibles
• Abstracts: Assessing the competitive impact of type, timing, frequency, and magnitude of retail promotions. The effect of retail store environment on retailer performance
• Abstracts: How the investment pirates attack the $A. Miami shows how to throw off a vice. Shamrock pinpoints value in PacDun investment
• Abstracts: Crockery manoeuvres spark dirty little war. Out of Africa. WMC acts to expand its Aboriginal workforce

This website is not affiliated with document authors or copyright owners. This page is provided for informational purposes only. Unintentional errors are possible.