REACTION PAPER- ASIAN AND GLOBAL CRISIS 1) 1997, 2) 2008, AND ASIAN Accountants Accounting Adequate As Asian Audit Bushman, CRISIS Crisis Disclosure During GLOBAL Global However, I If In It I’ll I’m I
REACTION PAPER- ASIAN AND GLOBAL CRISIS 1) 1997, 2) 2008, AND ASIAN Accountants Accounting Adequate As Asian Audit Bushman, CRISIS Crisis Disclosure During GLOBAL Global However, I If In It I’ll I’m I
1) 1997, 2) 2008, AND ASIAN Accountants Accounting Adequate As Asian Audit Bushman, CRISIS Crisis Disclosure During GLOBAL Global However, I If In It I’ll I’m I’ve M. More Moreover, Off-balance-sheet PAPER- Prudence REACTION Regarding Regulatory Robert Strict The While a about accepted accordance account accountability accountancy accountant accountant, accountants accountants. accounted accounting accounts addition, adequate adopt. affected after against all already also always among an and applicable appropriate appropriately, are article as assets auditing auditor auditor, authorities. awareness basis be because been being believe better bodies both bottom-line breadth business but by can carry cause caused cautious chaos cheat clarified clarity classified clearly closing committees, communicated. communicating company company. company’s compliance comply conduct conduct, consideration corporate could counter countries crises, crises. crisis, criticisms dealing deceitfully decision-making decision-making. defined depth development disclose disclosures disclosures, disclosures. do doing done. don’t doubts during each economic economies eliminate emphasize enforcement enough ensure entity. estimates ethical even events examining expenses facts financial financials financing firm firms five following for for. four further future generally get giving good governance governance. groups had hands has have he/she help hitch if important in inadequate inappropriately, including income incorrectly independent individuals information informed. instead instilled insufficient into investments, is it it. its judgment key keys knowledgeable lack large levels liabilities like loopholes main make makes making management management. management’s managers many matter matters maximize may me measure, measure. measured measured, measurement measuring mentioned method minority misleading misled. more most motivate motivations my nature necessary need needs not objective objectives. observed of on one opinion opinion, or order other others, out out. overly overstated perhaps personal perspective, played policies poor position practices principle principles profession, profession. profession? properly provided prudent. pursuing read readings, reality really reasonableness receive recorded, refocus regarding regulatory relevant reliable reported require requiring risk risk, risks role rules-based serve: setbacks severe shareholders short, should significant six so some sometimes stagnated, standard, standards standards, standards. start state statements structure structures structuring substance suffered sufficient summarized, sure take technique that the their them there these they thing things think three time time. to transactions transactions. transparency true two unbiased. uncertain uncertainty. understated. understood use used used, user users valid value was ways, what when where which who will with worsened would wrong
REACTION PAPER- ASIAN AND GLOBAL CRISIS
During the Asian and Global Crisis many of the criticisms are against accounting and accountants. In my further readings, I’ve read that during the Asian Crisis in 1997, where affected countries suffered severe setbacks in their economies and where development stagnated, the accountancy profession, including its standards, policies and levels of information disclosures, had played a role in the start of the crisis, and perhaps had even worsened it. Moreover, I’ve also read that during both crises, the Asian Crisis and Global Crisis in 2008, insufficient clarity in what was being measured, the wrong things being measured or things being measured inappropriately, lack of standards, inadequate transparency and poor ethical conduct, in short, poor corporate governance is the main breadth and depth of the crises.
As a future accountant, what will I do after all the doubts and criticisms against the profession