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| Author: | Bayou, M.E. Reinstein, A. Williams, P.F. |
| Title: | To tell the truth: a discussion of issues concerning truth and ethics in accounting |
| Journal: | Accounting, Organizations and Society
2011 : FEB, VOL. 36:2, p. 109-124 |
| Index terms: | accounting auditing financial reporting |
| Language: | eng |
| Abstract: | Many major scandals have been linked more or less directly to false, misleading, or untruthful accounting. The assertion of a misleading financial report means that there must exists a not-misleading report, but those who set the accounting-standarts have decided that decision usefulness is a financial report's ultimate objective. A conflict between the content of financial accounting and the auditing of the content has emerged, and this article analyzes the conflict and its consequences. Suggestions on how to correctly assess the truthfulness of a corporate reporting are presented, as accounting-standards have been set too narrowly. |
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