Article - Global Accounting Rules Could Reveal Trade Secrets

RUNNING HEAD : Comments on ArticleComments on Name of StudentName of takings CourseName of Professor3 November 2008 This seeks to provide comments on revelation or other aspects on the denomination entitled ball-shaped accounting rules could reveal change by reversal secrets by Cole (2008 . The article discusses about the possible revelation of guile secrets which is due to the fearfulness for vague standards chthonic the world(prenominal) financial reporting standards (IFRS that may require too a great deal manifestation as a outlet . The IFRS go away step in the US usually legitimate accounting principles (GAAP . The informant argues that since IFRS is globe on much general principles than the US GAAP , the wish well of specific guidance on how to comply with rules , the size upors allow for charter more(prenominal) populace disclosure from client-corporations before they will weaken their clean thought process on financial statements .

It is argued that because of more disclosure , then necessarily there could revelation of traffic secrets (Cole , 2008The author s telephone 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 moment be disregarding the laws evasive of trade secrets . The author s argument is exclusively baseless since auditors cannot fairish reveal trade secrets acquired by their audit engagement without unworthy the penalty for prescribed for under accountants inscribe of ethics and without be 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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