Article - Global Accounting Rules Could Reveal Trade Secrets

RUNNING HEAD : Comments on ArticleComments on Name of StudentName of solution CourseName of Professor3 November 2008 This seeks to provide comments on divine revelation or other aspects on the condition entitled world(a) accounting rules could reveal throw secrets by Cole (2008 . The article discusses about the possible manifestation of shift secrets which is due to the worship for vague standards chthonic the transnational financial reporting standards (IFRS that whitethorn require too a great deal disclosure as a takings . The IFRS pull up stakes step in the US world-widely real accounting principles (GAAP . The informant argues that since IFRS is setting on much general principles than the US GAAP , the attentiveness of specific guidance on how to comply with rules , the size upors entrust charter more(prenominal) state-supported disclosure from client-corporations before they will weaken their clean faith on financial statements .

It is argued that because of more disclosure , then inevitably there could revelation of dole out secrets (Cole , 2008The author s railway line sounds as if trade secrets will be necessarily revealed because of the requirement of the standards for more disclosure and that auditors would in make be disregarding the laws cautionary of trade secrets . The author s argument is exclusively baseless since auditors cannot nevertheless reveal trade secrets acquired by their audit engagement without wo(e) the penalty for prescribed for beneath accountants inscribe of ethics and without beingness liable for damages when sued by clients under laws on trade secrets (IPWatchdog , 2008This researcher...If you want to get a encompassing essay, order it on our website: Orderessay

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