World Financial Scandals and the Impact on the Accounting Profession
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Pages: | 53 : 61 |
Abstract: |
The financial scandals that have shaken the international economic environment of the last decades have had negative consequences on a profession that must protect the public interest, the accounting profession. The identification of creative accounting as the main cause for declaring major bankruptcies has affected the image and reputation of the professional accountant, known as rigid and impartial, and the confidence in the accounting profession has been considerably diminished. In this context, the profession of financial auditor has often been accused of failing to comply with the status of guarantor of the quality of the information provided by the financial statements prepared by the audited company. |
JEL classification: | M41 |