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 Ethical
Lessons for Accountants
According
to the Dictionary of
Criminal Justice Data Terminology,
white-collar crime is “nonviolent
crime for financial gain committed
by means of deception by persons whose occupational status
is entrepreneurial, professional, or semi-professional and
utilizing
their special occupational skills and
opportunities.” For decades, the legal system has
been relatively easy on whitecollar criminals.
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Underfunding Public Protectionlk…
Last year, I had the privilege of being one of 24 people
asked to testify before the U.S. Treasury Department’s
Advisory Committee on the Auditing Profession. The committee,
led by cochairs Arthur Levitt, Jr., and Donald T. Nicolaisen,
recently issued its final report containing more than 30
recommendations to improve the sustainability of the public
company auditing profession.
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 The
Proposed Conceptual Framework.
This
spring, the Financial Accounting Standards Board (FASB)
issued
for public comment an exposure draft (ED), “Conceptual
Framework for Financial Reporting: The Objective of Financial
Reporting and Qualitative Characteristics and Constraints
of Decision-Useful Financial Reporting Information.”
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