Regulatory Environment for Accounting and Finance
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Added on 2020-06-04
Regulatory Environment for Accounting and Finance
Added on 2020-06-04
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LITERATURE REVIEW ONREGULATORYENVIRONMENT FORACCOUNTING ANDFINANCIAL REPORTING
EXECUTIVE SUMMARY:Present assignment defines about the regulatory environment for accounting and financereporting in India and United Kingdom effectively. This assignment refers to the perceivedissues of each system in the country in an effective manner and describes about how theenvironment works in these nations effectively and there are some authorities who makesdecision for proper generation of several kinds of services in the company in sufficient form. Inaddition, this investigation also defines about how these countries are getting progress afteradoption of IFRS in sufficient manner. This study also reveals about Regulatory capture theoryand its usefulness towards finance and accounting reporting as well.
Table of ContentsEXECUTIVE SUMMARY:............................................................................................................1INTRODUCTION...........................................................................................................................2Part A ..............................................................................................................................................21. The perceived problems of each system and need for regulator.............................................22. How the environment works in these countries......................................................................33. What is the country’s progress towards the adoption of IFRS ...............................................4PART B............................................................................................................................................62. What characteristics might indicate that a regulatory might be captured? ............................7REFERENCES..............................................................................................................................101
INTRODUCTIONIn this documentation, the study defines about the regulatory environment for accountingand finance reporting of two countries which is India and United Kingdom effectively.Moreover, this assignment refers to the perceived issues of each system in the country in order tomake major decision in the country. Apart from it, this investigation also defines about thesecountry’s progress towards the adoption of IFRS within nations in sufficient form. Moreover, inpart B of this assignment, it describes about the regulatory capture theory is and why regulationsis useful for these countries in order to formation accounting and finance reporting in thesenations effectivelyPart A 1. The perceived problems of each system and need for regulatorA regulatory framework for the preparation of financial statements is necessary for anumber of reasons effectively in order to make major decision towards the organisationalenvironment in the country in more relevant form. This is most necessary for United Kingdomand India as well as in respect to identify the basic minimum information in the industry in morerelevant form. It is also necessary for economic environment of these countries in order toexamine the financial situation in the company in relevant manner(DRURY, 2013). Theregulator environment of accounting and financial reporting is essential for the growth inmultinational organisations and global investment in this area in increasing in international levelas well. It ensures that, the regulatory of the country make positive behaviour of organisationsand their directors towards their investors in the nation in relevant form. Financial reportingstandards is not enough for making regulate all its activities in the country in not sufficient forus, there should be legal and market-based regulations in the country in more appropriatemanner. There are numbers of factors presented for the regulator environment of accounting andfinance within these countries in a likeness ways. There are some typical regulatory structure ispresented in the UK which is as below: National financial reporting standardsNational lawMarket regulations Security exchange rules 2
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