Accounting Judiciary

Since the setting of accounting standards is a legislative act, is there any formalized judicial element in accounting? Somewhere that one can turn to, in order to find precedents as to appropriate accounting treatment? It would seem that this comes primarily from public company regulation. Quite apart from what any accounting standard might say or what any accounting practice might influence, a securities regulator can require that a certain accounting treatment be adhered to, as a condition of being listed or remaining listed. Now, if such hearings could be public, as a matter of course, and involve the possibility of intervenor status and published precedents, with reasons…

Advertisements

About brucelarochelle

Practising Lawyer and Part-Time University Instructor (Accounting, Commercial Law, Organizational Behaviour); Part-Time Federal Tribunal Member. Non-practising Chartered Professional Accountant (Chartered Accountant and Certified Management Accountant).
This entry was posted in Accounting Issues. Bookmark the permalink.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s