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Indecent Disclosure
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Details

  • Page extent: 296 pages
  • Size: 228 x 152 mm
  • Weight: 0.43 kg

Library of Congress

  • Dewey number: 658.1/6
  • Dewey version: 22
  • LC Classification: HG3761 .C63 2007
  • LC Subject headings:
    • Business failures
    • Corporations--Accounting
    • Corporate debt
    • Business ethics

Library of Congress Record

Paperback

 (ISBN-13: 9780521701839)

Indecent Disclosure captures the anguish the commercial public experiences when the misleading financial disclosures of some public corporations lead to an unexpected collapse. Here, the authors pursue four main themes as underpinning the crisis in companies' financial disclosures. First, companies' compliance with the accounting standards does not produce financial statements that disclose their wealth and financial progress; second, misleading financial statements are more the result of compliance with the accounting rules with the best of intentions, than from the deviation from them with the intent to mislead; third, the raft of knee-jerk corporate governance mechanisms imposed following the recent corporate shenanigans are more directed at appearances than rectifying malpractice; and fourth, there is increasing evidence that the current group structures in which corporate activities are arranged are incapable of effective regulation. Here those themes are explained, explored, and illustrated, within the framework of an agenda for true, effective reform.

• Leading on from the first two editions of Corporate Collapse, this book addresses those issues currently discussed in the corporate world • It presents alternative solutions to the problem of 'unexpected' failures - and posits that indecent disclosures are the omitted factor in why they persist • It reduces complex financial affairs to a form readily understandable to the lay person whilst retaining technical integrity for the professional

Contents

Prologue: Gilding the corporate lily; 1. Indecent disclosure: omitted factor in unexpected failure?; 2. Independence: a misplaced quest for honesty; 3. Governance overload: a contestable strategy; 4. A most peculiar practice: accounting under scrutiny; 5. A most peculiar practice: auditing under the microscope; 6. The sound of one hand clapping; 7. Commerce without conscience: group enterprise or separate legal entity?; 8. Groupthink: fact or fiction?; 9. An alternate group therapy to consolidation accounting; 10. Patching: past, present, prospect; Notes; Bibliography; Index.

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