Auditing and Accounting Standards: Their Roles and Usefulness to Independent Public Accountants and Investors
Auditing and Accounting Standards: Their Roles and Usefulness to Independent Public Accountants and Investors
Following a description of the ways that standards benefit users and producers of financial statements, this chapter considers alternative organizational procedures for setting those standards. The benefits and costs of having standards determined by the Financial Accounting Standards Board (FASB) and International Accounting Standards Board (IASB) rather than by professional accountancy organizations are analyzed. Principles-based versus rules-based accounting standards are also examined.
Keywords: GAAP, generally accepted accounting principles, GAAS, generally accepted auditing standards, FASB, Financial Accounting Standards Board, IASB, International Accounting Standards Board, accounting standards
Oxford Scholarship Online requires a subscription or purchase to access the full text of books within the service. Public users can however freely search the site and view the abstracts and keywords for each book and chapter.
Please, subscribe or login to access full text content.
If you think you should have access to this title, please contact your librarian.
To troubleshoot, please check our FAQs , and if you can't find the answer there, please contact us .