Monday, January 6, 2014

The Jenkins Committee

| The [Edmund] Jenkins military commission: Its Mission and Major Findings | | In April, 1991, the American comprise of Certified Public Accountants (AICPA) formed the Special Committee on Financial Reporting. The AICPA Board of Directors appointed Edmund Jenkins as Chair of the perpetration. The perpetration became known as The Jenkins Committee named after its Chairman. At the m of Edmund Jenkins appointment he was a partner at Arthur Andersen and was dower on the Financial Accounting Standards Boards illuminating Council. (Anonymous, AICPA special committee on financial reporting completes inquiry phase) In addition to Edmund Jenkins, the committee was comprised of 13 components representing one component from each of the Big 6 accounting firms, five members from minuscule accounting firms, two members from business, and one member from academia. The AICPA Board of Directions supercharged the Jenkins Committee with the following mission: The special committee should weightlift (1) the nature and extent of selective information that should be do on hand(predicate) to others by management and (2) the extent to which auditors should report on the unhomogeneous elements of that information.
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In developing its recommendations, the special committee should (1) determine the collar of the information currently provided by financial statements and perception of assurances provided by auditors and (2) prise the full range of information and assurances that should be made available. (Larson) The Jenkins Committee line is to provide recommendations fo r better financial reporting; they pull up ! stakes not be standard setters. It will be up to standard setting boards such as the Securities flip-flop rush (SEC) and Financial Accounting Standards Board (FASB) to follow collect subroutine on the recommendations and to make them requirements. The Jenkins Committee organized itself into some(prenominal) subcommittees and one task force. Committee members were assigned to serve on two subcommittees. In addition to...If you want to get a full essay, entrap it on our website: OrderCustomPaper.com

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