Article - Global Accounting Rules Could Reveal Trade Secrets

RUNNING HEAD : Comments on ArticleComments on Name of StudentName of outgrowth CourseName of Professor3 November 2008 This seeks to provide comments on disclosure or other aspects on the article entitled Global accounting rules could reveal wreak secrets by Cole (2008 . The article discusses about the possible apocalypse of trade wind secrets which is due to the fear for vague standards chthonic the outside(a) financial reporting standards (IFRS that may require too a great deal disclosure as a event . The IFRS will step in the US universally certain accounting principles (GAAP . The informant argues that since IFRS is ground on to a greater extent general principles than the US GAAP , the wish of specific guidance on how to comply with rules , the size upors will charter more open disclosure from client-cor porations before they will weaken their clean discernment on financial statements .

It is argued that because of more disclosure , then ineluctably there could revelation of trade secrets (Cole , 2008The author s argument sounds as if trade secrets will be necessarily revealed because of the requirement of the standards for more disclosure and that auditors would in effect be disregarding the laws protective of trade secrets . The author s argument is exclusively baseless since auditors cannot tho reveal trade secrets acquired by their audit engagement without torture the penalty for prescribed for under accountants inscribe of ethics and without world liable for damages when su ed by clients under laws on trade secrets (I! PWatchdog , 2008This researcher...If you want to get a encompassing essay, order it on our website: OrderEssay.net

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