Ethics in Business Accounting Standards
The objective of this work is to address the relationship among the FASB, SEC, and PCAOB and to provide explanations of basic accounting theories, assumptions and principles; and finally to evaluate the role of ethics in accounting. Victor, G. & Levitin, M. (2004) Current SEC and PCAOB Developments - September 2004. The national conference of the AICPA in relation to recent SEC developments convened in Washington D.C. and boasted more than 2,000 attendees from "accounting firms, private industry, and government" while representatives from the SEC, Public Company Accounting Oversight Board (PCAOB), FASB International Accounting Standards Board (IASB) and AICPA shared their knowledge on various issues. Key was ethical standards among items on the agenda of the professional attending the meeting." (Victor and Levitin, 2004) AICPA SEC Practice Section (SECPS) effectively changed its name and is now known as the Center for Public Company Audit Firms effective January 1, 2004. The focus of the AICPA is the development of technical and educational information for SEC- and PCAOB- related development for members of the firm; Provision of a forum for discussion of issues impacting public company audi
Identifying significant deficiencies. Obtaining an understanding of internal control over financial reporting, including performing walkthroughs. The new and differentiated types of technological applications that may be utilized in the accounting process leaves multiple methods open for use in accounting standards and practices. It is held by many experts reviewed in the process of reviewing the literature related to this work in writing that the many applications available have led to an entire new world in accounting. It appears that it is time to lay aside the hard-line regulations and rules and utilize that which is most effect, most expedient, most efficient and most ethically correct in choosing accounting standards in the contemporary and technologically advanced world. Testing controls intended to prevent or detect fraud.
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Approximate Word count = 809
Approximate Pages = 3 (250 words per page double spaced)
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