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Assessing Conformity with Generally Accepted Accounting Principles Using Expert Accounting Witness Evidence and the Conceptual Framework: GAAP, Expert Evidence, and the Conceptual Framework

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Assessing Conformity with Generally Accepted Accounting Principles Using Expert Accounting Witness Evidence and the Conceptual Framework : GAAP, Expert Evidence, and the Conceptual Framework. / Craig, Russell; Smieliauskas, Wally; Amernic, Joel.

In: Australian Accounting Review, Vol. 24, No. 3, 09.2014, p. 200-206.

Research output: Contribution to journalArticle

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Craig, Russell ; Smieliauskas, Wally ; Amernic, Joel. / Assessing Conformity with Generally Accepted Accounting Principles Using Expert Accounting Witness Evidence and the Conceptual Framework : GAAP, Expert Evidence, and the Conceptual Framework. In: Australian Accounting Review. 2014 ; Vol. 24, No. 3. pp. 200-206.

Bibtex

@article{00132417a83646d09131e89b4e87ac41,
title = "Assessing Conformity with Generally Accepted Accounting Principles Using Expert Accounting Witness Evidence and the Conceptual Framework: GAAP, Expert Evidence, and the Conceptual Framework",
abstract = "To enhance understanding of the status of the Financial Accounting Standards Board’s Conceptual Framework for Financial Reporting, we analyse important rules of evidence in United States (US) courts regarding the presentation of expert accounting witness testimony. We draw on this analysis to recommend the relocation of the Conceptual Framework in the US Generally Accepted Accounting Principles (GAAP) hierarchy. For empirical support, we explore how rules of evidence in the criminal trial in 2006 of Enron’s two most senior executives affected assessment of whether Enron’s financial reports conformed with the FASB’s GAAP. We recommend that the FASB’s Conceptual Framework should be included in authoritative literature as the uppermost authority, and that it be grounded closely in user needs and the ethical principles associated with meeting those needs. Further, we recommend that accounting expert witnesses adopt an overriding concern for objectivity and impartiality in assisting courts to understand complex accounting matters within the Conceptual Framework.",
author = "Russell Craig and Wally Smieliauskas and Joel Amernic",
note = "This is the accepted version of the following article: {"}Assessing Conformity with Generally Accepted Accounting Principles Using Expert Accounting Witness Evidence and the Conceptual Framework{"}, (2014), Australian Accounting Review, 24(3), DOI: 10.1111/auar.12039, which has been published in final form at http://doi.wiley.com/10.1111/auar.12039",
year = "2014",
month = "9",
doi = "10.1111/auar.12039",
language = "English",
volume = "24",
pages = "200--206",
journal = "Australian Accounting Review",
issn = "1035-6908",
publisher = "Wiley",
number = "3",

}

RIS

TY - JOUR

T1 - Assessing Conformity with Generally Accepted Accounting Principles Using Expert Accounting Witness Evidence and the Conceptual Framework

T2 - GAAP, Expert Evidence, and the Conceptual Framework

AU - Craig, Russell

AU - Smieliauskas, Wally

AU - Amernic, Joel

N1 - This is the accepted version of the following article: "Assessing Conformity with Generally Accepted Accounting Principles Using Expert Accounting Witness Evidence and the Conceptual Framework", (2014), Australian Accounting Review, 24(3), DOI: 10.1111/auar.12039, which has been published in final form at http://doi.wiley.com/10.1111/auar.12039

PY - 2014/9

Y1 - 2014/9

N2 - To enhance understanding of the status of the Financial Accounting Standards Board’s Conceptual Framework for Financial Reporting, we analyse important rules of evidence in United States (US) courts regarding the presentation of expert accounting witness testimony. We draw on this analysis to recommend the relocation of the Conceptual Framework in the US Generally Accepted Accounting Principles (GAAP) hierarchy. For empirical support, we explore how rules of evidence in the criminal trial in 2006 of Enron’s two most senior executives affected assessment of whether Enron’s financial reports conformed with the FASB’s GAAP. We recommend that the FASB’s Conceptual Framework should be included in authoritative literature as the uppermost authority, and that it be grounded closely in user needs and the ethical principles associated with meeting those needs. Further, we recommend that accounting expert witnesses adopt an overriding concern for objectivity and impartiality in assisting courts to understand complex accounting matters within the Conceptual Framework.

AB - To enhance understanding of the status of the Financial Accounting Standards Board’s Conceptual Framework for Financial Reporting, we analyse important rules of evidence in United States (US) courts regarding the presentation of expert accounting witness testimony. We draw on this analysis to recommend the relocation of the Conceptual Framework in the US Generally Accepted Accounting Principles (GAAP) hierarchy. For empirical support, we explore how rules of evidence in the criminal trial in 2006 of Enron’s two most senior executives affected assessment of whether Enron’s financial reports conformed with the FASB’s GAAP. We recommend that the FASB’s Conceptual Framework should be included in authoritative literature as the uppermost authority, and that it be grounded closely in user needs and the ethical principles associated with meeting those needs. Further, we recommend that accounting expert witnesses adopt an overriding concern for objectivity and impartiality in assisting courts to understand complex accounting matters within the Conceptual Framework.

U2 - 10.1111/auar.12039

DO - 10.1111/auar.12039

M3 - Article

VL - 24

SP - 200

EP - 206

JO - Australian Accounting Review

JF - Australian Accounting Review

SN - 1035-6908

IS - 3

ER -

ID: 6107199