Quo vadis accounting and auditing in Turkey

The main purpose of the research was to illustrate the history of accounting and auditing in Turkey. It is found that auditing has evolved through a number of stages. Current status of accounting and auditing profession in Turkey has been examined in this study. Recent issues and applications with regard to the statutory audits in Turkey has examined in detail. Related problems and solutions will also be discussed from a broad perspective of the professional standards

Environmental and Social Accounting As An Alternative Approach To Conflict Resolutions In A Volatile and E-Business Environment

Profits and improvements in world social welfare are the main reasons for industrialization. However, while governments and business owners are striving to solve one social problem or the other, these same solution processes scoop up other problems along the line which inadvertently breed conflicts and confrontations between the host communities and the owners and operators of the organizations attempting the solution. This is the position which most oil producing companies in the Nigerian Niger Delta region as well as some manufacturing concerns have found themselves. In E-Business, market domination and monopolistic trade practices have pitched major world players in the information and communications technology industry against one another, engendering yet another type of social conflict. This paper believes that a lot could be done to douse the resulting conflagration and pacify those directly affected by applying palliative and preventive remedies using the process of environmental and social accounting aspects of corporate social responsibility (CSR) policies as a tool

Business and Human Rights as a Galaxy of Norms

In the last several years, there has been an increasing tendency to view the impacts of transnational business operations through the lens of human rights law. A major obstacle to holding companies accountable for the harms that they impose, however, has been the separate legal identity of corporate subsidiaries and of contractors in a company\u27s supply chain. France\u27s recently enacted duty of vigilance statute seeks to overcome this obstacle by imposing a duty on companies to identify potential serious human rights violations by their subsidiaries and by companies with which they have an “established commercial relationship.” Failure to engage in such vigilance can subject a company to liability for damages resulting from such failure. This Article situates the new French duty of vigilance within a broader set of norms that can be characterized as the Business and Human Rights Galaxy. This Galaxy consists of five rings that represent standards and expectations ranging from classic enforceable “hard law” to voluntary principles generated by private parties, multi-stakeholder initiatives, and international organizations. The provisions in these rings are related in fluid and dynamic ways and exert varying degrees of gravitational influence on one another. Thus, for instance, what are conventionally regarded as forms of hard law may draw on voluntary private standards in setting expectations for behavior, and soft law norms may be incorporated into legally enforceable contract provisions between companies and their suppliers. This Article suggests that appreciation of these dynamics can furnish guidance in interpreting the novel duty of vigilance that the new French statute establishes. In particular, the common law duty of care and the United Nations Guiding Principles on Business and Human Rights can illuminate the nature and scope of the duty of vigilance. At the same time, the introduction of the new French statute into the Business and Human Rights Galaxy means that it too has the potential to influence provisions in other rings of the Galaxy

The Emperor Has No Clothes: Confronting the DC Circuit’s Usurpation of SEC Rulemaking Authority

In The Emperor Has No Clothes: Confronting the D.C. Circuit’s Usurpation of SEC Rulemaking Authority, Professor James D. Cox of Duke University School of Law & Benjamin J.C. Baucom, recent law clerk to Justice Don R. Willett of the Supreme Court of Texas, argue “that the level of review invoked by the D.C. Circuit in Business Roundtable and its earlier decisions is dramatically inconsistent with the standard enacted by Congress.” They conclude “that the D.C. Circuit has assumed for itself a role opposed to the one Congress prescribed for courts reviewing SEC rules.

Development of company law in India : the case of the Companies Act 1956

The influence of culture and politics on the promulgation of accounting regulations in the Companies Act 1956 in India immediately post independence is analysed using an exploratory framework based on the work of McKinnon (1986) and Gray (1988). Within the framework, the process of change is analysed into three phases, a source phase, diffusion phase and reaction phase with all phases of change being influenced by intra-system activity, trans-system activity and the social and cultural context of India. In particular, the importance of the role of the Government within the process of accounting change is seen and the social context is seen to influence both the need for change and the process of change

The impact of events on annual reporting disclosures

Burchell, Club and Hopwood (1985) considered that “little is known of how...wider social forces can impinge upon and change accounting” (p.382). This study identifies six political forces that may have instigated changes in accounting practice and annual reporting of a New Zealand electricity entity. Based on the literature (Hopwood, 1983, 1990; Napier, 1989; Gray and Haslam, 1990; Thomson, 1993) it is expected that significant changes in the environment in which the entity operates will effect changes in reporting. The study compares the annual report disclosures of an Electricity Supply Authority on a yearly basis from 1970 to 2001 - a 18 year period with little significant environmental impact in the electricity industry with a period of intense activity in the following 14 years. The study found considerable evidence that the change from a local body accountable to electors/consumers to a public company accountable to shareholders, led to a greater emphasis on profits and earnings per share as a means of measuring performance. It identifies specific changes in accounting practice that support this view as well as a period of “big bath” accounting, decreasing disclosure of commercially sensitive information, and the increasing use of dramatic presentation in the annual report