The Role of the Accounting Profession in Preventing Another Financial Crises - from Senate Finance Committee April 2011 Meeting

During April 2011 The Senate Finance Committee met to consider the Role of the Accounting Profession in preventing another Financial Crises. Accountants play an important role in Financial Decision making and the sharing of Company Information particularly for Public Companies and Regulated Entities, but also of course through Tax basis and Regulatory Compliance reporting driven by Financials and Accounting,

For purposes of this meeting it appears that the Focus was in overview dedicated to the Public Reporting elements of Accounting Duties. While in the modern data Landscape April 2011 may seem a very long time ago for all that has since occurred, the report here is still relevant because it provides a recent look to what our Key Decision makers in the Senate Finance Committee are considering when considering the role of the Public Accountant. We are sharing this insight and the thoughtful input of major Industry Groups in Accounting that were present for the discussions for the better overall awareness of important matters from the Public Accounting Industry as considered by Our US Congress in the Senate Finance Committee. Awareness of what matters to Our Congressional Leadership is important for all CPAs and Financial Executives in considering the important task of Financial Reporting and Accounting accross the board, even if the focus here is Public Companies. We believe in supporting standards and accountability to protect the Public Trust and the understanding in the Balance of the needs of Our Government, The Public, Industry and Business all matter in Financial Reporting and Accounting for Today and the Future.

In following the below linked report you can be more currently updated to the view points of Congress on needs in the Accounting Profession. As always if the report appears with symbols or content fails to load - please refresh inside of doc. to restore text.

CHRG-112shrg67978 April 11 Senate on Accounting

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