1. The Future of the Accounting Profession
- Publication Date:
- 02-2004
- Content Type:
- Working Paper
- Institution:
- American Assembly at Columbia University
- Abstract:
- Never, in its lengthy history, has the accounting profession been required to deal with the kinds of challenges that it must confront today. A seemingly unending series of sensational accounting scandals has grabbed newspaper headlines over the last three years, eroding public confidence in the accounting profession and leading to the most sweeping amendments to United States securities law since the Securities Act was passed by Congress in 1934. The Sarbanes-Oxley Act of 2002, as well as the Public Company Accounting Oversight Board (PCAOB) established as a result of the Act, now force the profession – and all of those who rely on its services – to rethink its most fundamental principles and practices.
- Topic:
- Security, Economics, and Government
- Political Geography:
- United States