IDEAS home Printed from https://ideas.repec.org/a/iaf/journl/y2013i4p60-70.html
   My bibliography  Save this article

Accounting Support Fee: Scheme of Independent Funding for U.S. Accounting and Audit Regulators

Author

Listed:
  • Oleh Pasko

    () (Sumy National Agrarian University)

Abstract

The issue of funding as an integral part of the problem of ensuring regulatory accounting and auditing bodies independence, have appeared in scientific research relatively recently. The previous funding model, mainly based on voluntary contributions, became obsolete, and modern circumstances required up-to-date solutions that would ensure greater independence of regulators. It were the USA that leaded this process where upon entry into force of the Sarbanes-Oxley Act in 2002 a scheme was introduced of independent financing of accounting regulators. The article, mainly by way of historical and monographic methods, has studied legislative and regulatory framework as well as the methodology of calculation and collection of accounting support fee in the United States. The brief characteristic of the U.S. accounting and auditing regulators has been done. The fee administration mechanism and the dynamics of its volumes for the whole period of its existence have been disclosed. The average load on the accounting support fee payers has been determined. It has been emphasized that versatility, simplicity and efficiency of such accounting and audit regulators financing scheme proves the possibility of this scheme application in other jurisdictions.

Suggested Citation

  • Oleh Pasko, 2013. "Accounting Support Fee: Scheme of Independent Funding for U.S. Accounting and Audit Regulators," Accounting and Finance, Institute of Accounting and Finance, issue 4, pages 60-70, December.
  • Handle: RePEc:iaf:journl:y:2013:i:4:p:60-70
    as

    Download full text from publisher

    File URL: http://www.afj.org.ua/pdf/119-zbir-na-pidtrimku-obliku-shema-nezalezhnogo-finansuvannya-regulyatoriv-obliku-ta-auditu-v-ssha.pdf
    Download Restriction: no

    File URL: http://www.afj.org.ua/ua/article/119/
    Download Restriction: no

    More about this item

    Keywords

    Accounting Support Fee; Sarbanes-Oxley Act; Dodd-Frank Act; U.S. Securities and Exchange Commission (CEC); Financial Accounting Foundation (FAF); U.S. Financial Accounting Standards Board FASB); U.S. Public Company Accounting Oversight Board (PCAOB); Governmental Accounting Standards Board (GASB);

    JEL classification:

    • M42 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - Auditing
    • M48 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - Government Policy and Regulation

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:iaf:journl:y:2013:i:4:p:60-70. 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: (Serhiy Ostapchuk). General contact details of provider: http://edirc.repec.org/data/iafkvua.html .

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.