摘要:本论文的阐述主题是会计中的道德标准,由于近年来道德标准的不断变化引起了大家的思考,于是以迈克尔·约瑟夫的“十条普世价值观”为例,讲述会计中应当遵守的道德标准。
ates. The SEC consists of four Divisions and 18 Offices. The Securities and Exchange Commission has the authority to establish financial accounting and reporting standards for publicly held companies that the FASB and the, later discussed, PCOBA enforce. Their main mission is to 'protect investors and maintain the integrity of the securities markets (SEC [SEC], 1)' The SEC was developed as a result of the Securities Exchange Act of 1934. They rely on the fact that the private sector demonstrates the ability to understand and execute public interest in regard to financial accounting practices.
Each year the SEC brings between 400-500 civil enforcement actions against individuals and companies that break the securities laws. This is crucial to the SEC's enforcement effectiveness. Typical security law breaches include; accounting fraud, insider trade practices and providing erroneous or misleading information about securities (SEC, 1). The PCAOB's adopts its rulemaking process as a result of the adoption of rules that are then submitted to the SEC for approval. PCAOB rules do not take effect unless approved by the SEC. PCAOB rules include auditing and related professional practice standards, forms, and the board's bylaws and code of ethics.
The Securities and Exchange Commission appoints the chairman and members of the Public Company Accounting Oversight Board (PCAOB). The boards aim the same as SEC and FASB, is to protect investors and other stakeholders of a public company by ensuring that the auditor of a company's financial statements has followed strict guidelines. But what authority enforcement do they possess?
The PCAOB was established as a result of the creation of the Sarbanes-Oxley Act of 2002 (Public Law 107-204, July 30, 2002) (PCOBA [PCOBA],1). Section 105 of the Sarbanes-Oxley Act of 2002 grants the PCAOB broad investigative and disciplinary authority over registered public accounting firms and persons associated with such firms (PCOBA, 7). When violations are detected, the board will provide an opportunity for a hearing and then possibly imposing sanctions. These are designed to deter the company from participating in such unethical standards. Sanctions include revoking a firm's registration, barring a person from participating in audits of public companies, and fines.
The SEC, PCAOB and the FASB all utilize basic accounting theories, assumptions and principles. The assumptions of financial accounting are: Separate entity assumption, going concern assumption, stable monetary unit assumption and fixed time period assumption. The separate entity assumption states that a 'business is an entity that is separate and distinct from its owners' it has a life of its own. With this assumption we realize that the finances of the firm are not co-mingles with the finances of the owners (Fees & Niswonger, 1981, 15). The remaining assumptions state that the business is going to be operating for the foreseeable future, financial statements are figured in U.S. dollars, and that information is prepared and reported in financial statements based on a specific time frame.
When determining principles each agency uses the historical cost principle, matching principle, revenue recognition principle, and the full disclosure principle (CPA Class, 2004, 1). The historical cost principle states that 'assets are reported and presented at their o
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