The key message of this book is that the world is changing and that accounting, financial reporting and auditing must change in order to avoid the prospect that all three fail to meet the demands of society and thus become irrelevant. The book identifies four forces that will cause the future to be different from what it is now.
Accountancy needs fundamental reform. Integrated reporting <IR>, whilst still keeping to some of its original ideals, seems to have failed in its current form. This book develops a novel but thoroughly practical form of financial reporting - hybrid accounting - which should enable accounting and financial reporting to meet the challenge of the future.
1 Introduction. Part I: The Current Status Quo and the Problem 1 The moral mess 2 Accountancy, Auditing and Financial Reporting – the current status quo 3 The failure of reform initiatives and a new beginning Part II: Theory 4 The moral responsibility of the accountant 5 Theories of the firm 6 The Hybrid theory of financial reporting 7 Examples Part III Specific Ethical issues 8 Tax avoidance and ultimate ownership issues 9 Management/shareholder remuneration and dividend policy 10 Wages, Salaries, Bonuses et al 11 Fair trade 12 Suppliers and Outsourcing 13 Social Reporting and Externalities 14 Other hot issues giving rise to additional reports.
This series explores the roles of Accounting and Accounting theory in the modern world. The series examines research in accounting thought, practice, auditing, principles and ethics as well as international standards and regulation setting. Examining private, public and non-profit sectors, Routledge Studies in Accounting, seeks to advance the scholarly debate by providing cutting edge and insightful research