Work detail

World After Enron

Author: Mgr. Antonín Bušta
Year: 2004 - winter
Leaders: Ing. Irena Kemény
Work type: Finance and Banking
Language: English
Pages: 93
Awards and prizes: M.A. with distinction from the Dean of the Faculty of Social Sciences for an extraordinarily good masters diploma thesis
Abstract: Recent developments in the world business environment have clearly shown the necessity to critically review the worldwide system of corporate information disclosure in the name of increased transparency, credibility, objectivity and reliability. This paper addresses this topic in five basic chapters, which are dealing with the main areas, crucial in author’s opinion to be considered for complex success of the reform of corporate reporting. These crucial areas are internal control of companies, their external auditing, the problem of the world’s generally accepted accounting standards, the role of company executives, and the issue of the reporting format. Across the particular chapters, arguments are provided supporting the hypothesis that transparency and objectivity of the firms’ (mainly financial) information disclosure cannot be secured through excessive, instantly growing regulatory instruments from above. Instead, success of the mission is seen in an open, rational and flexible attitude of regulators, companies, investors and other market participants in the name of apparent broader ethical principles, truly controllable and enforceable
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