Accounting regulatory architecture in Asia
Accounting regulatory regimes play a critical role in ensuring the reliability of financial data and the credibility of a company, and ultimately in supporting the stability of an economy. For the United States, the collapse of the Enron Corporation and the eruption of other financial statement related scandals a decade ago stand as clear reminders of the importance of reliable audit reviews and adequate regulatory oversight. These scandals led to the passage of the Sarbanes-Oxley Act of 2002 (Sarbanes- Oxley Act). This legislation created an independent accounting oversight board to supervise the U.S. accounting industry and instituted a number of new audit-related requirements. Prompted in part by these U.S. actions, many Asian economies have established similar regulatory bodies and standards for their domestic accounting industry.
Volume (Year): (2012)
Issue (Month): Apr ()
|Contact details of provider:|| Postal: P.O. Box 7702, San Francisco, CA 94120-7702|
Phone: (415) 974-2000
Fax: (415) 974-3333
Web page: http://www.frbsf.org/
More information through EDIRC
|Order Information:|| Email: |
When requesting a correction, please mention this item's handle: RePEc:fip:fedfaf:y:2012:i:apr. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Noah Pollaczek)
If references are entirely missing, you can add them using this form.