critical review and evaluation of a report
Write approximately 1200 – 1,300 words (excluding references) on the following:
Carefully read the 2007 report “A Comprehensive Business Reporting Model: Financial Reporting for Investors“ published by the CFA Institute, Centre for Financial Market Integrity
Write a critical review and evaluation of the above report. In preparing you review a number of issues could be considered and as you progress through this module these issues will come up over and over. But with a limited world count (1200-1300) you have to be selective in what you write so it is imperative that you hone in on issues of real relevance.
Ask yourself, does this report matter, and has it resulted in any new regulation or new approaches to published accounting information?
OR is this simply a report aimed at how analysis carry out their role in translating published information into a more user friendly set of financial data (ratios etc.)
Has it had an impact on views on risk?
The report was published at approximately the same time that the current financial crisis is deemed to have begun. What has this done to the proposals here?
What about intangibles, are we accounting for these differently?
When talking about financial statements of the “highest quality” does this report use or link to any of the accounting research in the “quality” debate as measured and discussed on this module and in the work of Penman, Barth etc. (Penman, S. 2007, Barth, M.), (W. Landsman, and M. Lang. 2008)
Has this report been used, or influenced, the IFAC or the FASB or even their joint projects. Has it had an impact? THAT IS THE QUESTION