Is Fair Value Fair?
The failure of current mechanisms to either predict the collapse of various companies or curb corrupt practises has kept the subject of external reporting to the fore. Is Fair Value Fair? Financial Reporting in an International Perspective contains contributions from many highly-respected individuals involved in external reporting, regulation and standard setting. Their contributions discuss the future of\ \ regulation\ application of standards\ supervision\ audit\ \ Current trends are...
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The failure of current mechanisms to either predict the collapse of various companies or curb corrupt practises has kept the subject of external reporting to the fore. Is Fair Value Fair? Financial Reporting in an International Perspective contains contributions from many highly-respected individuals involved in external reporting, regulation and standard setting. Their contributions discuss the future of regulation application of standards supervision audit Current trends are discussed, as are ways in which the current regulatory environment could be improved. With the new IFRS regulations coming into force in 2005, financial reporting is set toface radical changes. Is Fair Value Fair? fully prepares readers for these changes and is an invaluable tool for corporate financiers and institutional investors with an interest in the regulatory environment.
About the editorsList of abbreviationsIntroduction11Is fair value fair? Expert opinions on financial reporting from an international perspective: brief impressions52The model of Black and Scholes is like Newtonian physics before Einstein was born353Current US accounting issues494We have to produce one set of unified high-quality global standards575EFRAG: a new force to be reckoned with in the reporting field656Not partial, but full application of IAS777IAS and the European Union858IAS and legislation939Shifting towards an Anglo-Saxon perspective on rules10310Uniform rules are important, but they must not block the view11311Towards a new supervisory landscape12312The Enterprise and Companies Court as supervisory body13313Globalisation is OK, as long as it takes account of Dutch culture14514Enforcement of IAS is crucial for the realisation of a global standard for financial reporting15915Unambiguous rules, timely reports and close supervision17116The supervisory director: striking the right balance17917Insurers are lagging behind19118Double Dutch in financial reporting: highly flexible = extremely judgmental?20319The auditor is gratefully back on his pedestal21520The irrepressible advance of Fair Value Accounting22921From profit smoothing to a true and fair presentation of profits at insurance companies and pension funds23722Introduction of Fair Value Accounting: little if any haste24523Fair Value Accounting will result in less transparency and more volatility in banks' financial reporting25524Financial statements are a result of policy and not a factor informing policy26525Financial reporting and the search for truth27326Warning signals about the application of fair value for financial instruments28727IAS: right or wrong?29728The valuation of new-economy companies31329IPSAS and financial reporting by the Dutch government32530Interaction between internal and external reporting33531A creative approach to mergers and acquisitions345Epilogue: Toward a single global reporting system353Index357
\ From the Publisher"…this is a timely and useful book…" (Professional Investor, May 2003)\ \ \
