Purpose – To provide accounting practitioners and educators some of the reasons for the decreasing trend of students majoring in accounting and describe some of the activities that can be undertaken by accounting educators and practitioners to reverse the trend. Design/methodology/approach –...

The failure of the Enron Corporation in late 2001, apart from signalling the largest corporate bankruptcy in the USA, has also thrown up a myriad of questions about the effectiveness of contemporary accounting, auditing and corporate governance practices. There are strong historical antecedents...

Purpose – Seeks to analyze the impact of recent accounting and auditing failures in the USA on US accounting and auditing in China, focusing on the practice of guanxi – the networks of informal relationships and exchanges of favors that dominate all business and social activities in Chinese...

Purpose – In recent years, China has been making progress in internationalizing its financial reporting system. However, it is believed that earnings management from legitimate accounting choices to fraud that violates generally accepted accounting principles, is common in the mainland. The...

The National Audit Office of the People’s Republic of China issued 38 auditing standards and guidelines on 1 January 1997. This was the culmination of a variable historical development during which audit activity was either emphasised or downplayed altogether. With the open door policy and the...

Management accountants and auditors have much to learn from each other in how to minimise their respective problems. Any accounting system needs to pay due regard to individuals; groups; organisational structures and control; and the environment. Without this concern the accounting system will...

Purpose – In recent years, China has been making progress in internationalizing its financial reporting system. However, it is believed that earnings management from legitimate accounting choices to fraud that violates generally accepted accounting principles, is common in the mainland. The...