|
The Need for Principles-Based Standards and an Enhanced Conceptual Framework for Financial Statement Audits
James E. Rebele,
Robert Morris University
Elise A. Boyas, Robert Morris University
ABSTRACT. This paper presents arguments for why existing theory is not adequate for today’s financial statement auditing environment and for why a new and enhanced conceptual framework is needed. Arguments for principles-based accounting standards are used to support studying the feasibility of a principles-based system for setting auditing standards. A model for a conceptual framework for financial statement audits that includes major auditing concepts and relationships among the concepts is presented.
Full-Text is no longer available online. Please contact the author(s) for more information about this manuscript.
Back to Session Listing
|