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Accounting and Audit Versus Global Economic Crisis

  • Elefterie Liana

    ()

    (“Spiru Haret” University of Constanta)

  • Ruse Elena

    ()

    (“Spiru Haret” University of Constanta)

Registered author(s):

    The spillover of the credit crisis into a broader global economic downturn brings with it a number of accounting and financial reporting related issues and risks in financial audit area. In their run to show a big profit, in order to attract investors, the assets were over valuated by the companies and validated by the financial auditors. The key problem is the true and fair value shown in financial statements. Thus, financial auditors are the ones to legitimate the accounting information output, by means of their signature, which certifies the fact that the financial statements are authentic and reflect accurately, and fair the result of the transactions of the entity for the audited fiscal year, compliant to IFRS.

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    File URL: http://stec.univ-ovidius.ro/html/anale/RO/cuprins%20rezumate/rezumate2010p2.pdf
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    Article provided by Ovidius University of Constantza, Faculty of Economic Sciences in its journal Ovidius University Annals, Economic Sciences Series.

    Volume (Year): X (2010)
    Issue (Month): 2 (October)
    Pages: 215-217

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    Handle: RePEc:ovi:oviste:v:10:y:2010:i:2:p:215-217
    Contact details of provider: Web page: http://www.univ-ovidius.ro/facultatea-de-stiinte-economice

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