Whither accounting? - the CPA's changing world

Article Abstract:

Concerns facing today's certified public accountants include: increased competition, increased legal liability, uncertainty about the future of the accounting profession, and a tendency to equate audit failures with business failures. Decreasing growth rates in certain key industries and a growing number of corporate mergers have caused accountants' client base to shrink, producing a profit squeeze for accounting firms and increasing the emphasis on marketing over superior technical accounting skills. The legal climate in the accounting profession is marked by (1) the increasing size of settlements, (2) the high cost of obtaining professional liability coverage, and (3) the expense of reducing legal exposure and defending cases that do occur. The accounting profession needs to increase its emphasis on providing high-quality services and performing audits that protect the public.

Social aspects, Management, Competition (Economics), Accounting and auditing, Accounting, Disclosure statements (Accounting), Fraud investigation

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Are CPA's issuing more qualified opinions?

Article Abstract:

Some sources indicate that qualified opinions are being used more often by auditors against their client companies, while others contend that qualified opinions have remained the same. A qualified opinion suggests, but does not state, that the auditor cannot give unreserved, unconditional approval to a company's financial condition. Data suggests that companies receiving qualified opinions are in industries which are themselves in financial and economic trouble. Other data indicates that unqualified opinions are generally increasing and qualified opinions generally decreasing. The general public perception that the use of qualified opinions is on the rise is characterized as incorrect.

Ethical aspects, Malpractice, Auditors

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How CEOs view hostile takeovers

Article Abstract:

Chief executive officers (CEOs) are generally opposed to hostile takeovers and they feel that they are not in the best interest of stockholders or long-term business interests, according to a survey of 443 CEOs. Results from the survey show that CEOs feel: corporate raiders have a negative influence on the economy; hostile takeovers have a negative effective on long- and short-term planning; and companies do not function more effectively after takeovers. The results show, however, that CEOs are opposed to legislation outlawing hostile takeovers.

Research, Acquisitions and mergers, Beliefs, opinions and attitudes, Chief executive officers

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