• Join over 1.2 million students every month
  • Accelerate your learning by 29%
  • Unlimited access from just £6.99 per month

Compare and contrast the approach of the US and UK financial regulatory bodies and comment upon the major issues and events which have shaped the regulatory environments of both countries over the last twenty years.

Page
  1. 1
    1
  2. 2
    2
  3. 3
    3
  4. 4
    4
  5. 5
    5
  6. 6
    6
  7. 7
    7
  8. 8
    8
  9. 9
    9
  10. 10
    10
  11. 11
    11
  12. 12
    12
  13. 13
    13
  • Essay length: 3602 words
  • Submitted: 17/09/2004
Share this essay:

GCSE Accounting & Finance

The first 200 words of this essay...

QUESTION: Compare and contrast the approach of the US and UK financial regulatory bodies and comment upon the major issues and events which have shaped the regulatory environments of both countries over the last twenty years.

*********************************************************************

Introduction

This paper aims at comparing and contrasting the UK/US financial regulatory bodies in the financial accounting standard issue and application aspect. Recently we found the obvious tendency of global accounting standard convergence and this has the significant influence on both of UK and US financial regulatory environments. This convergence is also called accounting harmonisation which aims at developing a single set of high quality, global acceptance accounting standards that require transparent and comparable information in general purpose financial statements. (Nobes & Parker, 2002, pp93) In order to achieve that goal, both of UK and US move toward the International Accounting Standards at present. This paper will outline the major structure of financial regulatory systems in both two countries and then will compare the major steps that UK and US financial regulators took toward this tendency over last decades.

Briefing of UK/US financial accounting systems:

Both of UK/US system are more pragmatic system and have traditionally

Read more
The above preview is unformatted text

Found what you're looking for?

  • Start learning 29% faster today
  • Over 150,000 essays available
  • Just £6.99 a month

Marked by a teacher

This essay has been marked by one of our great teachers. You can read the full teachers notes when you download the essay.

Peer reviewed

This essay has been reviewed by one of our specialist student essay reviewing squad. Read the full review on the essay page.

Peer reviewed

This essay has been reviewed by one of our specialist student essay reviewing squad. Read the full review under the essay preview on this page.