The prophet of profit

Article Abstract:

The book 'Accounting for Growth' by financial analyst Terry Smith reveals that British companies use misleading accounting to increase their reported profits. This is legal, and critics argue that stockmarket prices are not affected and investors are not misled.

Beliefs, opinions and attitudes, Smith, William (American legislator)

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Crunch time: British accounting standards

Article Abstract:

The Accounting Standards Board of Britain is proposing accounting reform measures that are being opposed by some stockbrokers. The measures will make profit manipulation harder, but the complex new rules will allow a better understanding of company performance.

Laws, regulations and rules, United Kingdom. Accounting Standards Committee

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Auditing the auditors

Article Abstract:

People are dissatisfied with the auditing profession because of incidents where companies have failed soon after receiving a clean bill of health from auditors. Maybe the role of auditors needs to be expanded to reflect their position of public trust.

Auditing, Practice

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