Krish Bhaskar, John Flower
April 26, 2019 Forthcoming
Reference - 120 Pages
ISBN 9780367220730 - CAT# K421277
Series: Disruptions in Financial Reporting and Auditing
SAVE ~$9.00 on each
This concise volume evaluates the cause and significance of recent corporate failures and financial scandals, and how they reflect on the fitness for purpose of the external auditors, financial reports, financial watchdogs, boards, directors, and senior management. Failures like the disastrous collapse of Carillion, examined at length, have ultimately led to a crisis of confidence not only in the audit process but in the entire process of financial reporting.
Revealing the shortcomings in audit quality, independence, choice, and the growing expectation gap, Financial Failures and Scandals questions if the profession, its regulators, or government watchdogs, are adequately prepared for the challenges of increasing regulation, public outcry, and political scrutiny in the face of inevitable future financial failures. The fundamental structures of financial reporting, annual reports, boards of directors, and senior management are often found to have failed. Tighter regulation and new requirements for reporting will inevitably result.
Drawing on extensive research and interviews with insiders, users, and experts, this unique book provides a compelling account of the profoundly disruptive impact of financial failures on corporate and financial accountability. Topical and readable, this book will be of great interest to students, researchers and professionals in accounting and auditing, as well as to policy makers and regulators.
1. About this Book. 2. Regulation, Regulators and Reporting. 3. Manipulating Reports and Creative Accounting. 4. Landmark Scandals – The Impact of Earlier Cases. 5. Tesco, HBOS and Autonomy. 6. Carillion: The Collapse. 7. Carillion: The Blame Game. 8. Recent Cases: Steinhoff and Conviviality. 9. Conclusions: The Aftermath. GLOSSARY.