3 research outputs found
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Beyond the Virus: Multidisciplinary and International Perspectives on Inequalities raised by COVID-19
This report summarises the Work-in-Progress Symposium âBeyond the Virus: Multidisciplinary and International Perspectives on Inequalities raised by COVID-19â. The event consisted of four panels over two days. It brought together the contributors for the forthcoming edited collection with Bristol University Press (BUP), due to be published in 2022 under the Bristol Studies in Law and Social Justice series, tentatively entitled âBeyond the Virus: Multidisciplinary and International Perspectives on Inequalities raised by COVID-19â edited by Dr Sabrina Germain and Dr Adrienne Yong at The City Law School. The presentations were based on the chapters to the edited collection by each contributor and were followed by discussions. This collection examines social inequalities brought to stark attention by the COVID-19 pandemic under three thematic strands: power and governance, gender and sexuality, and marginalised communities. This project brings together a range of international scholars from multiple disciplines (law, sociology and politics) to showcase a diversity of perspectives on these themes. The unknowns around this novel virus and the scale of the epidemic make COVID-19 and its inequalities a timely subject. Understanding each of these issues from the perspective of multiple disciplines, with law at its centre, is the first step towards tackling them concretely and achieving social justice. The thematic coherence on social inequalities from international and multidisciplinary lenses is the projectâs central feature
Examining the current legal environment facing the public accounting professions: Recommendations for a consistent U.S. policy.
We examine the recent history and trends of U.S. auditor liability to third parties to help regulators and legislators develop policies to protect and maintain audit quality while limiting auditor liability exposure. Although the United States has yet developed a formal policy to address auditor liability, some European Union member countries and Australia, in varying degrees, support such limitation. Thus, we also explore current EU and Australian policies as examples of potential recommendations to U.S. policy makers. In light of a litigious environment, U.S. Certified Public Accounting firms generally accept potential clients only after analyzing potential risks, dismiss many risky clients, raise their total or hourly fees, spend more time examining attestation evidence, and perform other procedures to reduce their litigation risk. This risk arises largely from the federal and state legal systems, assuming that auditors can better absorb and control losses from misleading financial statements than can financial statement users. While culpable, this litigious environment led to the demise of two large international Certified Public Accounting firmsâArthur Andersen and Laventhol & Horwath. Is the global economy better off having fewer accounting firms with the capacity to perform international audits? A Public Company Accounting Oversight Boardâs recent Exposure Draft would require auditors of issuers to expand significantly their audit reports beyond current Pass/Fail standards, which could increase audit firmsâ disclosures and resultant liabilities. After examining U.S. federal and state statutes plus court decisions regarding auditor liability, we suggest methods to protect the public while allowing audit firms to thrive in these environments