|
COVER
STORY
The
Role of Audit Committees in the Public Sector
- - Nashwa George
This
article is on the role of governance in the public sector
because it deserves the same attention as governance in the
corporate sector. It also presents that unethical behavior
in the public sector impacts the taxpayers and citizens. Finally,
it discusses the audit committee qualities and its composition
and responsibilities.
© 2005 The CPA Journal (www.cpajournal.com), August 2005 Issue.
Reprinted with permission.
ACCOUNTING
STANDARDS
AICPA
Makes "All In" Bid for Dual GAAP
- - Eric P Wallace
This
article is all about a report released by AICPA Private Company
Financial Reporting Task Force calling for change in Generally
Accepted Accounting Principles (GAAP) for private companies'
financial reporting needs.
© 2005 Pennsylvania CPA Journal. A publication of the Pennsylvania
Institute of Certified Public Accountants. Reprinted with
permission.
ACCOUNTING
STANDARDS
AS
9: Revenue Recognition
- - KSVL Narasimha Murthy and K Gowri
The
timing of recognition of revenue in the book of accounts has
become a contentious issue as companies differ in interpreting
the Accounting Standard and recognize revenue accordingly.
In certain practical situations, this normally results in
conflict of views between the companies and auditors. An attempt
is made in this article to clear any doubts with regard to
the above by explaining the provisions of Sale of Goods Act,
1930, and the Accounting Standard (AS 9) issued by The Institute
of Chartered Accountants of India.
© 2005 IUP. All Rights Reserved
ACCOUNTING
STANDARDS
Expensing
Stock Options: The Rule is Final ... Or, is It?
- - Glenn Cheney
Most
companies following new accounting rules since June 15 have
begun to expense stock options. But others including private
and smaller public companies insist the struggle to reject
or modify accounting is not over.
© 2005 Financial Executive Magazine (www.fei.org/mag). Reprinted
with permission.
FINANCIAL
REPORTING
Financial
Reporting for Valuing Companies
- - J Dennis Rajakumar
This
article views a company as a black box. It then goes on to
examine whether the present form of corporate financial reporting
enables shareholders to take a peek into the black box.
© 2005 IUP. All Rights Reserved
SOX
SOX
Impact on UK Companies
- - Adrian Giles
The
SOX compliance deadline for foreign companies has been extended
to July 2006 to allow additional time for UK businesses to
prepare. This article discusses concerns among the 113 UK
companies about the increasing cost of SOX and the possible
breach of the Data Protection Act 1998 in complying with SOX.
© 2005 Adrian Giles. Originally published in GTNews (www.gtnews.com).
Reprinted with permission.
CORPORATE
GOVERNANCE
Wisdom
of Corporate Governance Disclosures
- - PT Giridharan
This
article highlights the material disclosures in Indian Corporate
Governance and the Whistle-Blowing Exercise in India under
Clause 49 and Whistle-Blowing Exercise in US under SOX Act,
2002.
© 2005 IUP. All Rights Reserved.
TAXATION
Broad-ranging
Changes
- - John Lowden and Kathy Fu
How
the American Jobs Creation Act Affects Tax Planning and Compliance
Requirements for those on Expatriate Assignments.
© June 2005 CA Magazine (www.camagazine.com). Published by
The Canadian Institute of Chartered Accountants, Toronto,
Canada. Reprinted with permission.
TAXATION
Employees'
Tax Issues for Auditors
- - Zwi Y Sacho
This
article is about revised accounting standards with regard
to requirement of the new South African Auditing Standards
(SAAS), where auditors are required to assess and document
the risk of material misstatement.
© 2005 Accountancy SA (www.accountancysa.org.za). Reprinted
with permission.
TAXATION
Moving
Abroad
- - David Nolke
Canadians
who spend extended periods away from Canada may be considered
non-residents for tax purposes and subject to emigration rules.
© 2005 David Nolke. Originally published in CGA Magazine May-June
2005 Issue. Reprinted with permission.
BUSINESS
ENVIRONMENT
Managing
Frauds in Financial Institutions
- - PSV Suryanarayana, Ishan Bakshi and Vikram Sharma
This
article focuses on the fraud management in various financial
institutions. It also presents the existing models to identify
the fraud along with the new software model Fraud Management
System (FMS).
© 2005 IUP. All Rights Reserved
TECHNOLOGY
Computer
Assisted Audit Techniques: Concepts and Practice
- - A Rafeq
The
article is about Computer Assisted Audit Techniques (CAATs)
which provide direct access to digital information and facilitate
an effective and efficient audit practice. It focus on the
implementation and functional capabilities in this highly
digitized world.
© 2005 IUP. All Rights Reserved
TECHNOLOGY
Remote
Computer Security Enhances Virtual Private Network Safety
- - Stephen Dispensa
As
more organizations take advantage of virtual private networks
that facilitate remote access to corporate resources, internal
auditors need to ensure that organizations are taking the
necessary steps to protect against external attacks.
© 2005 The Institute of Internal Auditors Inc. Originally
Published in IT Audit, Vol.8, July 15, 2005, published by
The Institute of Internal Auditors., www.theiia.org/itaudit.
Reprinted with permission.
SPEECH
Speech
by SEC Commissioner: Remarks before the American Academy in
Berlin
- - Roel C Campos
This
speech presented by Roel C Campos, Commissioner, US Securities
and Exchange commission, is on the American Academy's mission
to nourish intellectual and professional ties between Germans
and Americans in sectors like humanities and public affairs.
© 2005 US Securities and Exchange Commission (www.sec.gov).
Speech by Roel C Campos, Commissioner, US Securities and Exchange
Commission delivered on June 13, 2005 in Berlin, Germany.
Reprinted with permission. |
