Kami berharap bahwa Anda menikmati presentasi ini . Untuk men-download , silahkan rekomendasi presentasi ini kepada teman-teman Anda dalam jaringan sosial . Tombol yang haris diklik terletak di bawah posting ini . Terima kasih .
Presentasi sedang didownload. Silahkan tunggu
Diterbitkan olehdimas kenn syahrir
Telah diubah 9 bulan yang lalu
©2003 Firm Name/Legal Entity Presentation Name (View / Header and Footer) 1 Accountant Profession in the Crossroad. What is going on? A Presentation for PPAk Trisakti students Theodorus Djoko Sutrisno
Deloitte. ©2004 2 Big Global Corporate Scandals (Enron and Others) The fall of Arthur Andersen Sarbanes Oxley Act. Free Trade Agreement (WTO, AFTA and APEC) Convergence with International Accounting and Auditing Standards (IFRS/IAS and ISA) The Big Events
©2003 Firm Name/Legal Entity Presentation Name (View / Header and Footer) 3 Big Corporate Scandals. What has gone wrong?
Deloitte. ©2004 4 Formed from the merger of Gas and Pipeline Companies in 1985 which barely survive. Use innovative techniques such as energy trading contracts and derivatives and aggressive accounting policies to achieve superior profit. In 1997 acquired electric utility business. In 1999 entered into e-business (on-line trading). Andrew Fastow, the CFO, used hundreds of unconsolidated Special Purpose Entities (SPE) to hedge risks and hide Enron’s debts and losses. Enron stocks hit all-time high US$ 90.56 per share. The Rise of Enron
Deloitte. ©2004 5 The energy prices began to fall in the first quarter of 2001. In February 2001, Kenneth Lay retired from his CEO post. In April 2001, lacking and confusing disclosure appeared in the 2000 Financial Statements. In August 2001, Jeffrey Skilling, the new CEO, resigned. The stock price fell from US$ 60 to US$ 40 then to US$ 30 per share. Sherron Watkins, one of the Executives, issued internal memo described reservations and fear of accounting scandals. Enron announced its first quarterly loss in October 2001. In November 2001 Enron restated its 1997-2000 financial statements, resulting to US$ 591 million cumulative losses. Stock Market reacted quickly and Enron stock fell to US$ 10 per share, at the end of November, it fell to US¢ 26. On December 2, 2001 Enron filed for bankruptcy protection. The Fall of Enron
Deloitte. ©2004 6 Enron was Arthur Andersen second largest client with total fee of US$ 58 million in 2000. Andersen took internal audit assignment and kept dozens of staff on permanent assignment at Enron’s offices. Enron employed many former Andersen employees as internal accountants, CFOs and controllers. Andersen admitted it destroyed thousands of documents and electronic files related to Enron before SEC issued a subpoena. Enron dismissed Andersen as auditor in January 2002. In June 2002, Andersen accepted guilty verdict relating of obstruction of justice in Enron Case. At the end of August 2002 Andersen ceased operation after 89 year of audit practice. What Happen to The Auditors ?
Deloitte. ©2004 7 Whether Enron is the Only One? Other Big Corporate Scandals : WorldCom Tyco Xerox Superior Bank Parmalat and the list continues ……. Inflating revenue Smoothing income Inflating revenue Over value assets Fake assets Auditors AA PWC KPMG E&Y DT & GT
©2003 Firm Name/Legal Entity Presentation Name (View / Header and Footer) 8 The Fall of Arthur Andersen. Whether Less is Better?
Deloitte. ©2004 9 Arthur Andersen Price Waterhouse Coopers & Lybrants Arthur Young Deloitte Haskin & Sells Touche & Ross Ernst & Whinney Klynveld Peat Marwick Goerdeler (1987) The Big Eight Era (Prior to 1989)
Deloitte. ©2004 10 Arthur Andersen Price Waterhouse Coopers & Lybrants Deloitte Haskin & Sells Touche & Ross Ernst & Young (1989) Klynveld Peat Marwick Goerdeler (1987) The Big Six Era (1989 – 1998)
Deloitte. ©2004 11 Arthur Andersen Price Waterhouse Coopers & Lybrants Deloitte & Touche (1990) Ernst & Young (1989) Klynveld Peat Marwick Goerdeler (1987) The Big Six Era (1989 – 1998)
Deloitte. ©2004 12 Arthur Andersen Pricewaterhouse Coopers (1998) Deloitte & Touche (1990) Ernst & Young (1989) Klynveld Peat Marwick Goerdeler (1987) The Big Five Era (1998 – 2002)
Deloitte. ©2004 13 Pricewaterhouse Coopers (1998) Deloitte &Touche (1990) Ernst & Young (1989) Klynveld Peat Marwick Goerdeler (1987) The Big Four Era (2002 - Now)
©2003 Firm Name/Legal Entity Presentation Name (View / Header and Footer) 14 Sarbanes Oxley Act. What is the impact to our profession?
Deloitte. ©2004 15 Where did the Names Come From? Congressman Michael G. Oxley (OH) Senator Paul S. Sarbanes (MD)
Deloitte. ©2004 16 What is Sarbanes Oxley Act.? External Audit Independence S404 – Internal Controls over Financial Reporting SOX Enacted US corporate governance law in response to major corporate collapses Board Audit Committee Whistle-blowing Controls Certification & Attestation Use of non-GAAP Financial Measures
Deloitte. ©2004 17 Self-interest Self-review Advocacy Familiarity Intimidation Threat to Auditors Independence
Deloitte. ©2004 18 Restricted Non Audit Services 1.Bookkeeping or other services related to accounting records and financial statements 2.Financial information systems design and implementation 3.Appraisal or valuation services, fairness opinions 4.Actuarial services 5.Internal audit outsourcing service 6.Management functions or human resources 7.Broker-dealer, investment advisor or investment banking services 8.Legal services and expert services unrelated to the audit 9.Any other service that the PCAOB determines, by regulation, is impermissible.
Deloitte. ©2004 19 Partner Rotation Applies to lead, concurring, corporate-level, and significant subsidiary audit partners. The lead and concurring partners can serve 5 years, after which a 5 year “time-out” is required. Other partners subject to rotation can serve 7 years, after which a 2 year “time-out” is required. 7 yrs 2 yrs 7 yrs Other Partners 5 yrs Lead and Concurring Partners
©2003 Firm Name/Legal Entity Presentation Name (View / Header and Footer) 20 Convergence with International Accounting and Auditing Standards. Is the world Getting Smaller?
Deloitte. ©2004 21 IASB (International Accounting Standards Board) IASB, previously IASC, is the standard setting body of IASCF (International Accounting Standards Committee Foundation). Its objectives are among others : a.to develop, in the public interest, a single set of high quality, understandable and enforceable global accounting standards ………. ; b.to promote the use and rigorous application of those standards; and c.to bring about convergence of national accounting standards and International Accounting Standards ……. IASB Office, 30 Cannon Street, London
Deloitte. ©2004 22 IASB – FASB Accounting Standards Convergence On September 18, 2002, FASB and IASB signed MOU Agreement to develop high quality compatible accounting standards that could be used for both domestic and cross border financial reporting. To achieve compatibility FASB and IASB agree to : –Undertake short term projects to remove variety of individual differences –Remove other differences that will remain at January 1, 2005. IASB and FASB agreement on Convergence
Deloitte. ©2004 23 Adoption of IFRS as National Standards GAAP Convergence Survey 2002 Sponsored by: BDO DTT EY GT KPMG PWC
Deloitte. ©2004 24 IAASB (International Auditing and Assurance Standards Board) IAASB, previously IAPC, is the standard setting body of IFAC (International Federation of Accountants). Its objectives among others are : a.to serve public interest by setting ………. high-quality auditing, assurance, quality control and related services standards; b.facilitating the convergence of national and international standards; c.enhancing the quality and uniformity of practice throughout the world and strengthening public confidence ……… IAASB Annual Report 2003
Deloitte. ©2004 25 Adoption of ISA as National Standards IAASB Annual Report 2003
Standar Pelaporan Lap. Keu. Sesuai PABU
Dasar Akuntansi oleh Dr. Imam Subaweh, SE., Ak. MM.
Chapter 1: Financial Accounting and Accounting Standards
STANDAR PEKERJAAN LAPANGAN: Perencanaan dan Supervisi
The Demand for Audit and Other Assurance Services
ANALISIS STRATEGIS: MENENTUKAN POTENSI MASA MENDATANG MODUL 6 PERT. 19 S/D 21.
LEARNING MEDIUM School:SMP N 3 Pati Subject:English Grade/semester:VII/1 Time Allocation:2 x 45.
BAGIAN II STANDAR AUDIT
OUTSOURCING I. Joko Dewanto FAKULTAS ILMU KOMPUTER
BEST PRACTICES MANAJEMEN RISIKO 5/31/2013Resista Vikaliana,S.Si. MM 1.
1 Pertemuan 09 Kebutuhan Sistem Matakuliah: T0234 / Sistem Informasi Geografis Tahun: 2005 Versi: 01/revisi 1.
Company Owners and Lenders
RATNA CANDRA SARI KONVERGENSI IFRS DEWAN PENYUSUN STANDAR Dewan Penyusun Standar IASB (International Acc Standard Board) IFRS (International Financial.
PENGUNGKAPAN DAN TRANSPARANSI
CONCEPTUAL FRAMEWORK FOR FINANCIAL REPORTING
PENDIDIKAN AKUNTANSI DALAM ERA GOOD CORPORATE GOVERNANCE Education would be much more effective if its purpose was to ensure that by the time they leave.
1 INTRODUCTION Pertemuan 1 s.d 2 Matakuliah: A0554/Analisa dan Perancangan Sistem Informasi Akuntansi Tahun: 2006.
Introduction TE #1.
© 2017 SlidePlayer.info Inc. All rights reserved.