Explain research on financial statement disclosure debate

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The subject of financial statement disclosure is heavily debated. As the instances of accounting scandals have increased so have FASB's full disclosure requirements. Some argue that FASB has not done enough. Others argue that the current requirements are too technical and burdensome. I would have to agree with both opinions. On one hand there are significant events that are not required to be disclosed. On the other hand a typical set of financial statements is so complicated that the average person is overwhelmed.

What do you think? Please support your opinion with additional research on the financial statement disclosure debate.

Reference no: EM13160348

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