Describe the legislation that altered the self-regulation

Assignment Help Accounting Basics
Reference no: EM131816477

Assignment: Self-Regulation in the Accounting Industry

In this Assignment, you will research recent important accounting industry events that have shaped the profession as we know it today.
Due to several events, the public and legislators began to doubt the ability of the accounting profession to self-regulate. As a result, Congress reformed the accounting profession's system used for regulating itself.

Checklist:

1. Visit the Kaplan Library (access in the course home area) to research the accounting system of self-regulation. Describe at least one major historical event that occurred in the business world in the past 20 years and discuss how this affected today's accounting system of self-regulation.

2. Describe the legislation that altered the self-regulation process of the accounting profession.

3. Describe the regulation process for accounting firms that audit (A) public companies and (B) non-public companies.

4. Describe how this new self-regulation process would affect you as an auditor working for a large public accounting firm today. Discuss the strengths and weaknesses of self-regulation in the accounting profession as a result of the historical events you described.

Reference no: EM131816477

Questions Cloud

Experimenter effect be more of a problem : In which study could the experimenter effect be more of a problem: a study in which the response of interest is cholesterol levels
Compute materials price and efficiency variances : Huron Group had the following direct materials data for its product: Material Twinkle 5 units of input at $ 50. Compute materials price and efficiency variance
Create a memo about collaboration tools using the word : Create a memo about collaboration tools using the Word Web App. Save your memo. Share your document with the email in your second Office Live account.
How will you go about conducting readiness assessments : Explain the concepts and theories surrounding large-scale change processes. How will you go about conducting readiness assessments for the entire organization?
Describe the legislation that altered the self-regulation : Describe the legislation that altered the self-regulation process of the accounting profession
Experimenter effect be more of a problem : A study in which the response of interest is people's feelings of self-esteem, or a study in which the response of interest is the size of a wound, in square
Skeptical of experiments with a lack of realism : Adam: It shows you should be skeptical of experiments with a lack of realism. When you're in your forties, getting into the teenage mindset is too unrealistic.
Explain the relationship between portfolio matrix strategies : Explain the relationship between Portfolio Matrix Strategies. Also, Explain Ansoff's Strategic Opportunity Matrix.
Explain the nature of the communication collaboration driver : Using Microsoft Word, write a memo to yourself. In the memo, explain the nature of the communication collaboration driver

Reviews

Write a Review

Accounting Basics Questions & Answers

  The sweetwater candy company would like to buy a new

the sweetwater candy company would like to buy a new machine that would automatically dip chocolates. the dipping

  Identify and briefly explain the main challenges

Identify and briefly explain the main challenges faced by BHSL's top and middle managers in the innovation and reorganization (i.e. the move to a service line structure) process

  How many units must be sold to achieve a target profit of

how many units must be sold to achieve a target profit of 5000?using the degree of operating leverage what is the

  Evaluating a direct communication

Auditing standards define a confirmation as the "process of obtaining and evaluating a direct communication from a third party in response to a request for information about a particular item affecting financial statement assertions."

  Prepare an income statement and a classified balance sheet

Transfer these accounts and balances to a spreadsheet worksheet and prepare an income statement, a classified balance sheet, and a statement of retained earnings, all in good form using proper headings for each statement.

  Components of deferred tax assets and liabilities

Components of Deferred Tax Assets and LiabilitiesThe components of deferred tax assets and liabilities at December 31 were as follows (in millions):

  When historical cost is used in the accounting records

How would outstanding cheeks be handled when reconciling the ending cash balance per the bank statement to the correct adjusted cash balance? When historical cost is used in the accounting records, the book value of the asset is.

  Determine the total dividends paid to each class

Determine the total dividends paid to each class for the four years combined. (Omit the $ sign in your response.)

  Replacement of direct labor workers with highly automated

replacement of direct labor workers with highly automated machines has the following effect on variable and fixed

  Renovation of a few of chain locations

Upon contacting the towel supplier, Marriott was told that they could not possible produce that many towels in 2 days and would instead deliver them in a week.

  Identification of the major accounting issue

Authoritative Literature to Support Your Position, Organization and Clarity of Your Response

  General environment of organizations

Q.1.Identify at least four forces in the general environment of organizations and provide an example of each for an industry or business. How do these forces differ from the external stakeholders in the task environment?

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd