This paper analyzes the accounting reasoning of two expert accounting witnesses at the 2006 trial of Enron executives … who testified that the financial reporting of Enron conformed fully with US generally accepted accounting principles [GAAP … ‘verifiably acceptable levels of accounting risk' in order to incorporate the notion of truthfulness of forecasts in accounting …

In this archival study we report three main findings related to auditability of pension accounting estimates. 1. The … related to estimated returns in pension accounting are not auditable …

accounting estimates of rates of return on pension assets over ten consecutive years (2001-2010). We find that the point … accounting that arises from relying on unauditable estimation processes. These findings do not support recent changes to the … the usefulness of financial reporting by adding to estimation uncertainty in the accounting for pension costs. However …

International Accounting Standards Board [IASB] issued an exposure draft [ED] for a new conceptual framework [CF] of financial … stated objectives of the CF. This arises from failures to create a CF that is the overarching authority for accounting …