Topic: The reliability of financial statements in the UK

Description

Aims

To find the problems companies have when comparing financial statements prepared in the UK.

To understand how the manipulation of financial statements in the UK is prevented.

To identify the role of auditors in the preparation of financial statements

To compare the role of IFRS in the preparation of financial statements to GAAP used in the United States.

To understand the repercussions UK companies have faced with the improper preparation of financial statements in the past.

Research Questions

It is difficult to compare financial statements from different countries without a universal set of accounting standards


External auditors are useful to monitor the reliability of the information in financial statements

Internal auditors should not be used to ensure financial statements are kept accurate

The option for UK companies to use either IFRS or UK
GAAP creates problems when comparing financial statements

The Generally Accepted Accounting Principles (GAAP) used in the United States is a more effective than IFRS or UK GAAP to monitor fraud

The prohibition of LIFO (most recent inventory sold) by IFRS means it is difficult to compare financial statements which are prepared under other standards from different countries

There are still various problems faced when comparing financial statements between companies within the UK

Type of service-Dissertation services
Type of assignment-Dissertation
Subject-Accounting
Pages / words-37 / 10000
Number of sources-60
Academic level-Bachelor’s
Paper format-Harvard
Line spacing-Double
Language style-UK English

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