scholarly journals A Current Evaluation of Independence as a Foundational Element of the Auditing Profession in the United States

2019 ◽  
Vol 13 (1) ◽  
pp. P17-P27
Author(s):  
J. Gregory Jenkins ◽  
Jonathan D. Stanley
Keyword(s):  
United States ◽  
Financial Reporting ◽  
The United States ◽  
Auditor Independence ◽  
Audit Committees ◽  
Client Relationships ◽  
Reporting Process ◽  
Regulatory Approach ◽  
A Current ◽  
The U.S

SUMMARY This paper summarizes '“Auditor Independence in the United States: Cornerstone of the Profession or Thorn in Our Side?”' (Church, Jenkins, and Stanley 2018). Their paper maintains that while the concept of independence is theoretically appealing, it is fraught with practical problems. Church et al. (2018) analyze the current oversight of auditor independence in the U.S. and the need for auditor independence from the perspective of various parties involved in the financial reporting process. In doing so, the paper discusses implications and challenges affecting one or more of these parties. Finally, Church et al. (2018) evaluate alternatives to the current regulatory approach of prohibiting various auditor client relationships to manage auditor independence. The paper concludes that increasing audit committees' responsibilities for monitoring auditor independence, along with additional disclosure about threats and safeguards to auditor independence, is worthy of further discussion and debate as a path toward addressing the auditor independence conundrum.

Auditor Independence in the United States: Cornerstone of the Profession or Thorn in Our Side?

2018 ◽  
Vol 32 (3) ◽  
pp. 145-168 ◽  
Author(s):  
Bryan K. Church ◽  
J. Gregory Jenkins ◽  
Jonathan D. Stanley
Keyword(s):  
United States ◽  
Financial Reporting ◽  
The United States ◽  
Auditor Independence ◽  
Audit Committees ◽  
Systematic Evaluation ◽  
Client Relationships ◽  
Reporting Process ◽  
Regulatory Approach

SYNOPSIS The objective of this paper is to provide a systematic evaluation of independence as a foundational element of the auditing profession. We maintain that while independence is a theoretically appealing construct, it is fraught with practical problems surrounding its implementation, monitoring, and regulation. We analyze the current oversight of auditor independence and evaluate the need for auditor independence from the perspective of information users and information producers. In the process, we discuss important implications and intractable challenges that affect one or more parties involved in the financial-reporting process. Finally, we carefully evaluate alternatives to the current regulatory approach for managing auditor independence (i.e., proscribing various auditor-client relationships). We conclude that increasing audit committees' responsibilities for monitoring the auditor's independence—along with additional disclosure about threats and safeguards to auditor independence—is worthy of further consideration and debate as a path toward addressing the auditor independence conundrum.

An Advancement in Paper Receipts the Electronic Receipt Administration Framework

2017 ◽  
Vol 8 (3) ◽  
pp. 631
Author(s):  
Vimal Kumar Stephen. K ◽  
V. Mathivanan
Keyword(s):  
United States ◽  
The United States ◽  
Ease Of Use ◽  
National Scale ◽  
Current Review ◽  
A Current ◽  
The U.S

<p>The issue our group locations is best conveyed in the accompanying inquiry: Given the quantity of dealers, shoppers, and money related organizations in the U.S., how might we assemble a recordkeeping framework that enhances the ease of use, availability, and supportability of customer exchange records. A current review demonstrates that 80% of the U.S. populace gets one to three receipts a day, 11% of which promptly escape With America's retailers creating roughly 228.7 million pounds of receipt paper every year, this means 22.87 million pounds of paper that in a flash move toward becoming refuse . Promote, the present framework does not make receipts promptly open to traders and shoppers when they require them. In this venture, our group means to enhance the administration of shopper exchange records while diminishing the quantity of receipts imprinted in the United States. An answer for this issue will likewise furnish buyers with a more advantageous approach to screen their ways of managing money.</p><p>The framework is made out of four sections: an electronic UI, a deride money enroll, a receipt administration database, and a XML convention that conveys between the money enlist and the receipt database. On the off chance that executed on a national scale, this electronic receipt administration framework would permit clients (dealers, shoppers, and monetary organizations) access to all receipt information in one area and in one steady configuration, in this way wiping out the requirement for paper receipts.</p>

Immigrant Neurologists in the United States: The Path of Most Resistance

Neurology ◽  
2020 ◽  
pp. 10.1212/WNL.0000000000011196
Author(s):  
Abhimanyu Mahajan ◽  
Zachary London ◽  
Andrew M. Southerland ◽  
Jaffar Khan ◽  
Erica Schuyler
Keyword(s):  
United States ◽  
Private Practice ◽  
The United States ◽  
Vital Role ◽  
International Medical Graduates ◽  
Medical Graduates ◽  
The Face ◽  
Healthcare Crisis ◽  
A Current ◽  
The U.S

International Medical Graduates (IMGs), individuals who graduated from medical school outside of the United States or Canada, constitute 31.3% of active neurologists and one-third of current neurology trainees. While three-fourths of IMG neurology trainees are not U.S. citizens, they are an integral part of our trainee and practice workforce. IMGs play a vital role in providing greater access to healthcare for millions of patients, particularly in traditionally underserved regions and in the face of a current global healthcare crisis.With this article, we outline some of the unique challenges faced by immigrant, U.S.-trained neurologists as they seek to provide neurological care across the country, including preparing and applying for residency, securing authorization to remain in the U.S. to practice, and positioning themselves for successful careers in academic and private practice. We also call for advocacy and legislation to help reduce these barriers as a means to address the increasing physician workforce gap.

scholarly journals The PCAOB Audit Quality Indicator Framework Project: Feedback From Stakeholders

2019 ◽  
Vol 16 (1) ◽  
pp. 1-8 ◽  
Author(s):  
Arianna S. Pinello ◽  
Ara G. Volkan ◽  
Justin Franklin ◽  
Michael Levatino ◽  
Kimberlee Tiernan
Keyword(s):  
Quality Indicators ◽  
Financial Reporting ◽  
Audit Quality ◽  
The United States ◽  
Audit Committees ◽  
Tone At The Top ◽  
Reporting Framework ◽  
Public Company ◽  
Auditor Reporting ◽  
The U.S

Audit Quality Indicators (AQIs), as defined by the Center for Audit Quality, include four different elements:firm leadership and tone at the top; engagement team knowledge, experience, and workload; monitoring; and auditor reporting. AQIs are quantitative and qualitative measures designed to improve audit quality and help audit committees select the best audit firm for their current needs. They are intended to increase the reliability and accuracy of financial reporting. The Public Company Accounting Oversight Board (PCAOB) has issued a concept release proposing twenty-eight potential AQIs for use in the United States. The PCAOB release describes the AQI reporting framework and asks for public opinion on whether or not it should be implemented. This study reviews the comment letters in response to PCAOB Docket 041,Concept Release on Audit Quality Indicators, and the AQI reporting frameworks currently in place in the United Kingdom, Singapore, and other countries. After reviewing the PCAOB’s proposed AQI framework, response letters to Docket 041, and the AQI frameworks used in other countries, this paper provides an opinion on how the PCAOB should proceed with the AQI framework initiative in the U.S. The analysis suggests that AQI reporting should not be mandated in the U.S., but should become a flexible and voluntary framework that provides valuable information, enhances transparency in the audit profession, and establishes a commitment to the improvement of audit quality.

scholarly journals The Role and Impact of International Financial Reporting Standards on Cross-Border Financing for a Systemically Important Bank from Macroeconomic Perspectives—Technical Review Research Study

2020 ◽  
Vol 2 (3) ◽  
pp. p74
Author(s):  
Karina Kasztelnik Ph.D. MBA, CPA, CTP
Keyword(s):  
United States ◽  
Financial Reporting ◽  
Stock Exchange ◽  
The United States ◽  
Research Review ◽  
Accounting Disclosure ◽  
Financial Reporting Standards ◽  
Foreign Companies ◽  
The World ◽  
The U.S

The author of the study note that the extensiveness of a country’s international accounting disclosure requirements is a good for the overall disclosure extensiveness of the exchange in that foreign country, which, in turn, is bigly correlated with the cost of listing such as United States, Canada, United Kingdom, The Netherlands, France, Japan, and Germany. The United States and the national over-the-counter market have enjoyed significant growth in foreign listing. In absolute terms, the U.S. numbers are even more impressive. As of December 2019, the 1,420 foreign companies whose shares are traded in the United States reparent the largest amount of foreign listings of any major stock exchange in the world., which reflects, at least in part, recognition by multinational entities that the U.S. securities market represents the most efficient market in the world, thus translating into a lower cost of capital for issuer of securities. This technical research review article may support both the public trade companies and policymakers around the World.

scholarly journals Non-Financial Reporting & Corporate Governance: Explaining American Divergence & Its Implications for Disclosure Reform

2020 ◽  
Vol 10 (2) ◽  
Author(s):  
Virginia Harper Ho
Keyword(s):  
United States ◽  
Sustainable Development ◽  
Financial Reporting ◽  
Institutional Context ◽  
The United States ◽  
Financial Disclosure ◽  
The World ◽  
Sustainable Finance ◽  
Market Driven ◽  
The U.S

AbstractNon-financial reporting reforms have moved ahead around the world as governments work to advance sustainable development and improve environmental, social, and governance (“ESG”) risk management by firms and investors In the United States, however, non-financial reporting reforms face resistance and have lagged behind. This article offers an overview of the state of non-financial reporting in the U.S. and explains why the U.S. approach still diverges so visibly from the reform path adopted by other governments around the world. It then suggests potential directions for non-financial disclosure reform that take account of the U.S. institutional context. The article concludes by considering the implications of the United States’ market-driven approach for non-financial reporting reform and for the future of sustainable finance more broadly.

scholarly journals THE FUTURE OF THE INTERNATIONAL FINANCIAL REPORTING STANDARDS IN THE UNITED STATES: CONSIDERATIONS ON THE CRITICAL QUESTION

2019 ◽  
Vol 34 (1) ◽  
pp. 37-48
Author(s):  
Hristina Oreshkova
Keyword(s):  
United States ◽  
Financial Reporting ◽  
Accounting Standards ◽  
The United States ◽  
International Financial Reporting Standards ◽  
Reporting Standards ◽  
Critical Question ◽  
Financial Reporting Standards ◽  
The U.S ◽  
Strategic Goal

In the present article a subject matter that has attracted great interest over the recent decades is discussed. The critical question of the likelihood of adopting the International Financial Reporting Standards in the United States has raised a lot of debates around the world. The problem has been the focus of long-lasting and profound deliberations among both scientific and professional community.Our research found out that the strategic goal of reaching one single set of global accounting standards through the project of convergence developed by the most influential Boards in the world – the International Accounting Standards Board located in London with second headquarters in Tokyo, and the U.S. Financial Accounting Standards Board has not been achieved. It is appropriate to emphasize that the realisation of the convergence project began in 2002 as a result of the Norwalk agreement achieved in September 2002, Norwalk, Connecticut, USA. However, it is increasingly recognized that the era of convergence is coming to an end.Prominent scholars argue that the strategic goal turned out to be neither practical nor achievable in the foreseeable future. For the time being the authorized American institutions do not intend to fully adopt the International Financial Reporting Standards as issued by the IASB into the U.S. financial reporting system. Moreover the authoritative organizations in the United States attempt to continue keeping in line with specifics of the U.S. business environment. It is assumed that the Securities and Exchange Commission will never perhaps risk causing a political storm by yielding the control on its accounting to an institution outside the USA.An essential reason that causes inconveniences in the implementation of the IASB’s accounting standards and the principles is that the accounting standards interact in different ways with national laws, social and ethic codes, domestic fiscal rules and guidelines, and that is unavoidable. However, in each state and jurisdiction the interaction has its essentials and specifics. Complications may arise out of the local tradition, culture and historical continuity in performing accounting as a practice as well as by the legal doctrine and the degree of their interrelation. No less important are the essence and peculiarities of the national legal and accounting system, the extent of cultural impacts on the contemporary development of accounting as well as the principles on the basis of which the systems of state authority are established, interact and function.

An American Language

2018 ◽  
Author(s):  
Rosina Lozano
Keyword(s):  
United States ◽  
National Policy ◽  
The United States ◽  
Spanish Language ◽  
Spanish Speakers ◽  
Language Recognition ◽  
Political Language ◽  
Political Issue ◽  
History Of ◽  
The U.S

An American Language is a political history of the Spanish language in the United States. The nation has always been multilingual and the Spanish language in particular has remained as an important political issue into the present. After the U.S.-Mexican War, the Spanish language became a language of politics as Spanish speakers in the U.S. Southwest used it to build territorial and state governments. In the twentieth century, Spanish became a political language where speakers and those opposed to its use clashed over what Spanish's presence in the United States meant. This book recovers this story by using evidence that includes Spanish language newspapers, letters, state and territorial session laws, and federal archives to profile the struggle and resilience of Spanish speakers who advocated for their language rights as U.S. citizens. Comparing Spanish as a language of politics and as a political language across the Southwest and noncontiguous territories provides an opportunity to measure shifts in allegiance to the nation and exposes differing forms of nationalism. Language concessions and continued use of Spanish is a measure of power. Official language recognition by federal or state officials validates Spanish speakers' claims to US citizenship. The long history of policies relating to language in the United States provides a way to measure how U.S. visions of itself have shifted due to continuous migration from Latin America. Spanish-speaking U.S. citizens are crucial arbiters of Spanish language politics and their successes have broader implications on national policy and our understanding of Americans.

Palestine Unbound

2018 ◽  
Vol 47 (3) ◽  
pp. 130-134
Keyword(s):  
United States ◽  
Human Rights ◽  
Task Force ◽  
The United States ◽  
Donald Trump ◽  
Tel Aviv ◽  
The Us ◽  
Intention To Move ◽  
Arab Israeli Conflict ◽  
The U.S

This section, updated regularly on the blog Palestine Square, covers popular conversations related to the Palestinians and the Arab-Israeli conflict during the quarter 16 November 2017 to 15 February 2018: #JerusalemIstheCapitalofPalestine went viral after U.S. president Donald Trump recognized Jerusalem as the capital of Israel and announced his intention to move the U.S. embassy there from Tel Aviv. The arrest of Palestinian teenager Ahed Tamimi for slapping an Israeli soldier also prompted a viral campaign under the hashtag #FreeAhed. A smaller campaign protested the exclusion of Palestinian human rights from the agenda of the annual Creating Change conference organized by the US-based National LGBTQ Task Force in Washington. And, UNRWA publicized its emergency funding appeal, following the decision of the United States to slash funding to the organization, with the hashtag #DignityIsPriceless.

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