... 2004 Financial reporting Risk management Regulation Internal auditing External auditing I recently decided that there was no longer space to store 20 years worth of Accountancy and Accountancy Age. Prior to disposal I reviewed all the back issues for articles...

... Publishing Limited 2004 Financial reporting Decision making Regulation A report published by the Institute of Chartered Accountants in England & Wales, in its “Information for Better Markets” series, makes a distinction between at least two levels of digital reporting. Level 1...

... the finalization of the much‐debated revised Combined Code and the DTI paving the way for the introduction of international financial reporting standards with the necessary legal reform. There are now less than 300 working days before conversion to the new IFRS standards across Europe – around 400 if we...

...Robert Bittlestone The author provides a seven point plan for what 2004 holds. The predictions range from a tougher environment for company directors as investors fight back and a greater focus from financial reporting on the future and cash. Shareholders want value for money. The Higgs review...

...Karel Van Hulle The author, the European Commission’s chief of financial reporting in financial markets, argues that 2004 could be a year of crisis or a year of progress. Which it will be depends on whether financial reporting rises to the challenges which the European Commission has created. He...

...Richard Raeburn The author, chief executive of the Association of Corporate Treasurers, looks ahead at two challenges of 2004 in the continuing arguments over international financial reporting rules on financial instruments, which he believes will create inconsistencies in banking accounts...

...Robert Hodgkinson The author, technical director of the UK’s biggest accounting body, assesses how businesses will cope with new financial reporting rules in 2004 and predicts that an emphasis on reporting on prospective financial information will come to the fore. You may have seen 2005...

...David Tweedie 2004 is the year when companies around the world need to move their financial reporting to the rules laid down by the International Accounting Standards Board. In this article the chairman of that board, Sir David Tweedie outlines what this change will mean. He also points out...

...Robert G. Eccles The author, one of the leading business thinkers in the USA and a former Harvard Business School professor, puts forward his hopes and fears for the year 2004. He hopes that the worlds of financial reporting and corporate governance will become clearer and more effective but he...

.... Financial reporting Cash flow Hommen envisages a future of near real‐time reporting of quarterly figures and expects direct cash flow accounting to grow in response to a lack of globally agreed accounting principles. But recent accounting scandals in Europe and North America have added more grist...

.... If one enterprise will absorb a majority of the expected losses and another company will receive a majority of expected residual returns, then the company absorbing a majority of the losses should consolidate the VIE. Corporate governance Financial reporting Earnings Debts Investors Risk...

... of the integrity of financial reporting being damaged. The author looks at the whole difficult, tangled and sometime opaque system of shareholder voting and assesses whether proposed reforms to the system will work. © Emerald Group Publishing Limited 2004 Corporate governance Financial reporting...

...Richard Barker Problems in financial reporting are often blamed on the rules. In trying to outlaw the system of “smoothing” which covered up many sins the rule‐makers have been accused of simply making figures more volatile and less understandable. The author looks at the idea of performance...

...David Damant David Damant, one of the leading thinkers in the investment analysis world, shows how the proposed new income statement will change the world of financial reporting, leading to clarification, fair values and a much simpler system by emphasizing cash flow. © MCB UP Limited 2003...

...Alison Jones; Mike Willis The Internet financial reporting language known as XBRL continues to develop and has now reached the point where much of its promised benefits are available. The authors look at the history of this project, provide a case study of how Morgan Stanley has made use...

...David Damant The author analyses the recent history of financial reporting and shows that its complexities are inevitable. He sets out the basis for a fair value model stemming from a conceptual framework and argues that if financial reporting rules are to be correctly drawn from such a framework...

... and then provides some overall conclusions. Financial reporting Balance Sheets Assets Liabilities Andrew Lennard Once incurred, a liability continues as a liability of the entity until the entity settles it, or another event or circumstance discharges it or removes the entity’s responsibility...

...Financial Committee of the Institute of Chartered Accountants in England and Wales This position paper from the Financial Reporting Committee of The Institute of Chartered Accountants in England and Wales provides an update on the latest thinking on risk management within the corporate environment...

... by the AIMR provide the chance for a searchlight into corporate affairs which will create greater stability and guard against the worrying signs that greater instability is likely. © Authors 2002 Financial reporting Hedging International standards Capital markets Financial analysts...

... in the UK and the Republic of Ireland, where the financial reporting framework does not currently require derivatives to be recorded at fair value in the financial statements. Significant use of derivatives, particularly complex derivatives, without relevant expertise within the entity increases audit...