Date of Defense
Increasing public awareness of corporate financial reporting has generated substantial interest regarding the roles and responsibilities of accountants and independent auditors. Investors must rely on auditors to protect their financial interests. This protection arises from the auditors' assurance that the reports on which investors base their decisions give a fair representation of the true financial situation of a prospective investment. To enable auditors to fulfill this role, accountants must develop and practice uniform accounting principles based on a sound theoretical framework. The profession's standard-setting bodies have come under increasingly intensive scrutiny. "Creative Accounting" is used to describe accepted accounting techniques which permit corporations to report financial results that may not accurately portray the substance of their business activities. Progress has been made in eliminating these fraudulent techniques, but those remaining in use may contribute to public doubt regarding the reliability of financial statements, and should also be eradicated.
Young, Jaclyn Brown, "Grey Areas in Accounting" (1981). Honors Theses. 1.
Honors Thesis-Campus Only