Review, Reform And Regulation: Planned Accounting Standards And Disclosure Requirements Post Enron And Worldcom And The Impact On Information Professionals  

Oleh:

Slater, Rachel

Jenis: Article from Journal - ilmiah internasional
Dalam koleksi: Business Information Review vol. 19 no. 4 (Dec. 2002), page 5-9.
Fulltext: 5.pdf (90.15KB)

Isi artikel

The overhauling of business as accounting standards and disclosure requirements in the light of the collapse of Enron and Worldcom is likely to cause significant changes in the way information professionals do their work. In addition to the general reforms suggested to tackle accounting abuses, there are a number of proposals that could significantly change the amount and type of UK company data available to information professionals. This will impact in several ways upon those using business information, both in positive terms and negative. The most pertinent recommendations appearing in the Company Law Review include: simplification of the format and content requirement for small company accounts and abolition of abbreviated accounts; extension of the small company accounting regime so that companies meeting any two of three criteria are classed as small; replacement of Memorandum and Articles with a single document; shortening the time limit for private companies to deliver accounts to Companies House from ten months to seven months after their financial year-end; an up-to-date, clear statement of the duties of directors; new restrictions on access to director’s address details; and an Operating and Financial Review for large companies. To some extent, these developments will be seen as

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