Consider the following statement:
‘The international accounting profession has lost its way and is no longer serving the needs of different users of accounting information in a manner which is appropriate and meaningful for the global business environment today.’
For your Initial Response, in approximately 750 – 1,000 words, address the following:
• Do you agree or disagree with this statement?
• Identify the different user groups who require accounting information and explain how this information is provided for them.
• Discuss how the status of the accounting profession, both in your country and internationally, has been impacted by financial scandals in the recent past.
• Describe what measures have been taken to counterbalance the impact of these scandals.
• Do you think that the measures have been successful?
Base your answer on research, your readings and your experiences. Please remember to correctly cite all references.
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