As safe as greenbacks?

Article Abstract:

The introduction of the euro, the single European currency, continues to present both an opportunity and a threat to US business concerns. The euro, which has lost about 10% of its original value since its initial introduction, is capable of making it easier for US exporters to sell their products to the European market by virtue of a unified monetary system. The euro, which was conceived as the European answer to the dominance of the US dollar in global business transactions, has also resulted in reduced transaction costs between the 11 participating nations in Europe. This development is seen as a competitive advantage for European firms within the unified market that could have a wide-ranging impact on US firms that intends to do business in Europe.

Other General Government Support, Coinage & Currency, Europe, Economic aspects, Economic policy, Money, Euro (Currency), Monetary policy

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Auditing standard: the audit report

Article Abstract:

An exposure draft is offered of a revised auditing standard for the audit report. Two optional forms of guidance are offered on auditor acceptance of management representations, and detailed discussion is presented on the use of small company qualifications. An Appendix, included, covers statements of auditing standards, provides explanatory notes, discusses the audit opinion, and provides other information associated with statutory and other specific requirements. Circumstances that lead to qualifications are enumerated and the manner in which they may be disclosed are described. Seven types of audit report examples are offered.

Reports, Auditors

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New words for old

Article Abstract:

The new standard wording for the audit report is examined and the main reasons for the changes are reported.

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