| Publisher | Institute of Management Accountants | ||
|---|---|---|---|
| Format | 225.8KB PDF | Date added | 01 Mar 2005 |
| Topics | Cost Control - Risk Mgmt., Finance, Sarbanes-Oxley | ||
| Downloads | 4 | ||
Accounting cover-ups, fraud, and downright illegal practices keep grabbing the headlines. Much of the negative attention focused on the accounting profession has centered on evidence that some auditors and accountants have been willing to compromise ethical and professional standards to accomplish personal or corporate goals. Perhaps less discussed in the popular press has been management accountants' role in permitting or facilitating some frauds as well as the critical role that management accountants will play in undertaking the necessary reforms to calm the financial markets regarding the reliability of financial statements. As a response to the scandals, the Sarbanes-Oxley Act holds all parties involved in producing and approving financial statements more accountable.
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