O'connell, Brendan, Webb, Laurie, and Schwarzbach, Henry R. (2005) Batten down the hatches! U.S. accounting scandals and lessons for Australia. Australian Accounting Review, 15 (2). pp. 52-67.

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Abstract

This paper warns the Australian accounting profession about the threat of fallout similar to that experienced in the US following major accounting scandals. This US fallout has included a significant loss of public faith in the accounting profession, reduced autonomy for auditors with the formation of the Public Companies Accounting Oversight Board, and the stringent Sarbanes-Oxley Act. The Australian accounting profession must maintain high-quality auditing and corporate financial reporting or risk greater regulatory intrusions and additional threats to its relatively high levels of autonomy.

Item ID:	13969
Item Type:	Article (Research - C1)
ISSN:	1835-2561
Keywords:	corporate collapse; corporate governance
Date Deposited:	23 Nov 2010 03:54
FoR Codes:	15 COMMERCE, MANAGEMENT, TOURISM AND SERVICES > 1501 Accounting, Auditing and Accountability > 150102 Auditing and Accountability @ 100%
SEO Codes:	90 COMMERCIAL SERVICES AND TOURISM > 9001 Financial Services > 900199 Financial Services not elsewhere classified @ 100%
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