Regulating the auditing profession: a comparison of the United Kingdom and Germany

Article Abstract:

The regulatory structures for the auditing professions in the United Kingdom and Germany are different, although both countries face similar issues, and the two structures should be studied to see how best to harmonize regulatory structures for the European Union. The United Kingdom has a self-regulating structure, and few government requirements are imposed on auditors. Auditing in Germany is performed by members of a public law body established in 1961, and according to standards set by the public body. Differing economic and legal systems account for differences between the two countries.

United Kingdom, Germany, Laws, regulations and rules, Auditing

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The negative effect of an accounting standard on employee welfare: The case of McDonnell Douglas Corporation and FASB 106

Article Abstract:

Company managers may claim to make economic decisions based on the use of an accounting standard when they are actually using the standard to conceal actions they have already undertaken. Under FASB 106 (Financial Accounting Standards Board), future life insurance and retiree medical costs must be accrued by American firms for their employees throughout their working life. A case study is presented examining the adverse impact on employee welfare of the adoption of the FASB 106 accounting standard.

Standards, Evaluation, Accounting and auditing, Employee benefits, Financial Accounting Standards Board, Managerial accounting

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Disciplinary practices in the public accounting profession: an alternative comparison

Article Abstract:

Ethical conflicts in the international accounting profession continue to grow despite different standards of conduct that address the same problems in different countries. The US, England and Germany have different structures for the accounting profession. Accountants serve clients and third parties during audits and the unusual arrangement creates conflicts of interest. Global business increases the problem.

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