Accounting regulatory architecture in Asia

Linda True and Walter Yao

Asia Focus, 2012, issue Apr

Abstract: Accounting regulatory regimes play a critical role in ensuring the reliability of financial data and the credibility of a company, and ultimately in supporting the stability of an economy. For the United States, the collapse of the Enron Corporation and the eruption of other financial statement related scandals a decade ago stand as clear reminders of the importance of reliable audit reviews and adequate regulatory oversight. These scandals led to the passage of the Sarbanes-Oxley Act of 2002 (Sarbanes- Oxley Act). This legislation created an independent accounting oversight board to supervise the U.S. accounting industry and instituted a number of new audit-related requirements. Prompted in part by these U.S. actions, many Asian economies have established similar regulatory bodies and standards for their domestic accounting industry.

Keywords: Regulation (search for similar items in EconPapers)
Date: 2012
References: Add references at CitEc
Citations:

Downloads: (external link)
https://www.frbsf.org/banking/wp-content/uploads/sites/5/april.pdf Full Text (text/html)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:fip:fedfaf:y:2012:i:apr

Ordering information: This journal article can be ordered from

Access Statistics for this article

More articles in Asia Focus from Federal Reserve Bank of San Francisco Contact information at EDIRC.
Bibliographic data for series maintained by Federal Reserve Bank of San Francisco Research Library ().