Building Public Trust: The Future of Corporate Reporting

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Building Public Trust, by Samuel A. DiPiazza Jr. and Robert G. Eccles, couldn't be more timely or necessary. Arriving in the wake of a seemingly endless stream of corporate accounting scandals--which in a matter of months have bankrupted Enron and brought WorldCom and Global Crossing down to earth--this book offers a bona fide framework for a new, open form of transparent financial reporting that should prove more palatable to businesses and their stakeholders, and more effective than any of those in misuse today. DiPiazza, CEO of PricewaterhouseCoopers, and Eccles, president of Advisory Capital Partners, certainly know of which they speak, and they lay out a highly informed and quite feasible system that actively involves every member of the so-called corporate reporting supply chain: executives, boards of directors, independent auditors, information distributors, third-party analysts, investors, and various other stakeholders. They propose specific ways to develop three key elements (a spirit of transparency, a culture of accountability, and people of integrity) that work together to "create public trust in markets." Based on their extensive firsthand experiences, they further show how using these principles can lead to a scenario where "capital is being allocated more efficiently all over the world." The timeliness of this book is one thing, the content within its pages another, and on both counts Building Public Trust definitely delivers. --Howard Rothman

Book Description

Business reporting in a post-apocalypse global marketplace
Clearly, now is the time for creating an effective business-reporting model appropriate for the markets of the twenty-first century. Rather than start from scratch after the Enron-Andersen fiasco, two leading consultants from PricewaterhouseCoopers present a plan that supplements the current model, one in which executives, accountants, analysts, investors, regulators, and other stakeholders can truly embrace the spirit of transparency. The Future of Corporate Reporting highlights the best practices for global financial reporting, explaining the concept of "performance auditing," which focuses on the real performance of the business as opposed to technical adherence to GAAS. Eccles and Masterson also discuss the pros and cons of GAAP v. IAS, present new approaches to reforming financial reporting, and outline a twenty-first-century model of accounting that will improve markets and benefit shareholders.

Customer Reviews:

Hollow advice from a company that betrays its own employees.......2002-09-29

There is a bitter irony to the heads of PriceWaterhouseCoopers issuing a publication about inspiring trust in the public in large corporations in the wake of Enron and Worldcom scandals when PwC constantly undermines the trust of its own employees. With an infrastructure that makes it nearly impossible for employees to find their own project work and employment practices that left thousands of employees without a job and insufficient experience to get another one (while still continuing to hire new employees), PwC does a horrible job of taking care of those who work for them. In addition, they are just another example of a company that engages in the same shady, conflict-of-interest business practices as Arthur Andersen, yet they just have not been caught yet. Yet, here they are, trying to issue some sort of definitive work about restoring public trust. If a company like this shows no understanding of how to take care of their own employees, how can one even remotely think that they have any business providing a framework of how to take care of the public.

Hollow advice from a company that betrays its own employees.......2002-09-29

There is a bitter irony to the heads of PriceWaterhouseCoopers issuing a publication about inspiring trust in the public in large corporations in the wake of Enron and Worldcom scandals when PwC constantly undermines the trust of its own employees. With an infrastructure that makes it nearly impossible for employees to find their own project work and employment practices that left thousands of employees without a job and insufficient experience to get another one (while still continuing to hire new employees), PwC does a horrible job on taking care of those who work for them. In addition, they are just another example of a company that engages in the same shady, conflict-of-interest business practices as Arthur Andersen, yet they just have not been caught yet. Yet, here they are, trying to issue some sort of definitive work about restoring public trust. If a company like this shows no understanding of how to take care of their own employees, how can one even remotely think that they have any business providing a framework of how to take care of the public.

What Exquisite Timing.......2002-08-22

Kudos to the authors and their editorial team for managing to publish this quickly enough to become part of the debate. With luck, some of what the authors have to say may even become part of the solution.

Accounting 101.......2002-08-06

In the current marketplace, its refreshing to see men of stature like Sam DiPiazza and Robert Eccles taking a step in the right direction. If you are an investor, if you have money in public companies, this is a book you must read!

Timely and Thoughtful.......2002-08-03

A very timely and thoughtful work. It's quite easy to criticize our current system of financial reporting both in terms of stakeholder value and human consequences. The nightly business journals do their part by documenting the day's dismal financial calamities. Mr. Eccles takes the next step by offering concrete proposals for building an infrastructure to improve corporate transparency and investor confidence. We hope that all members of the Corporate Reporting Supply Chain will accept this work as a starting point for on-going discussions of this important topic.

Building Public Trust: new model accounting and governance for greater transparency. (Book Review).(Building Public Trust: The Future of Corporate Reporting)(Book ... Review): An article from: CMA Management

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Building Public Trust: new model accounting and governance for greater transparency. (Book Review).(Building Public Trust: The Future of Corporate Reporting)(Book ... Review): An article from: CMA Management
Robert Colman
Manufacturer: Society of Management Accountants of Canada
ProductGroup: Book
Binding: Digital

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Book Description

This digital document is an article from CMA Management, published by Society of Management Accountants of Canada on November 1, 2002. The length of the article is 846 words. The page length shown above is based on a typical 300-word page. The article is delivered in HTML format and is available in your Amazon.com Digital Locker immediately after purchase. You can view it with any web browser.

Citation Details
Title: Building Public Trust: new model accounting and governance for greater transparency. (Book Review).(Building Public Trust: The Future of Corporate Reporting)(Book Review)
Author: Robert Colman
Publication: CMA Management (Magazine/Journal)
Date: November 1, 2002
Publisher: Society of Management Accountants of Canada
Volume: 76 Issue: 8 Page: 44(1)

Article Type: Book Review

Distributed by Thomson Gale

Creating trust in Corporate Reporting. (Books).(Book Review) (book review): An article from: Strategic Finance

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Creating trust in Corporate Reporting. (Books).(Book Review) (book review): An article from: Strategic Finance
Drew Miller
Manufacturer: Institute of Management Accountants
ProductGroup: Book
Binding: Digital

General | Business & Investing | Subjects | Books

Book Description

This digital document is an article from Strategic Finance, published by Institute of Management Accountants on May 1, 2003. The length of the article is 495 words. The page length shown above is based on a typical 300-word page. The article is delivered in HTML format and is available in your Amazon.com Digital Locker immediately after purchase. You can view it with any web browser.

Citation Details
Title: Creating trust in Corporate Reporting. (Books).(Book Review) (book review)
Author: Drew Miller
Publication: Strategic Finance (Refereed)
Date: May 1, 2003
Publisher: Institute of Management Accountants
Volume: 84 Issue: 11 Page: 21(2)

Article Type: Book Review

Distributed by Thomson Gale

Book Description

WIDER The World Institute for Development Economics Research, established in 1984, started work in Helsinki in 1985, with the financial support of the Government of Finland. Its principal purpose is to help identify and meet the need for policy-oriented socio-economic research on pressing global and developmental problems and their inter-relationships. WIDER's research projects are grouped into three main themes: hunger and poverty; money, finance, and trade; and development and technological transformation. The 1980s ushered in a `globalization' of finance, and governments began rejecting the task of engaging in international financial management. A new doctrine - global neoclassicism - arose, based on the idea that government regulation of financial markets was futile and foolish. The authors of this book tackle the question of whether national policy autonomy is still possible, in the process challenging the new orthodoxy, and the dangers attendant upon deregulation. They explore the `political economy' of financial openness, and the political nature of recent developments such as the ascendency of private financial interests and a reduced role for government regulation. The book includes both general historical and theoretical approaches, as well as case studies of various countries, such as Australia, Mexico, and Pakistan. It represents a major contribution in the political economy of international finance.

Financial Openness and National Autonomy: Opportunities and Constraints (WIDER Studies in Development Economics)

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Financial Openness and National Autonomy: Opportunities and Constraints (WIDER Studies in Development Economics)
Tariq (Editor) Banuri
Manufacturer: Oxford University Press, USA
ProductGroup: Book
Binding: Paperback
ASIN: B000OLA4CE

Book Description

A penetrating book on the very roots of our relationship with nature.

Bringing Back the Dodo is about how the forces of evolution and extinction have shaped the living world, and the part that humans play therein. This strikingly thought-provoking book, in the tradition of John McPhee and David Quammen, explores the very roots of our relationship with nature and challenges us to look at ourselves and the natural world around us in new light.

Wayne Grady searches our history and prehistory to explain why humans love nature and fear it at the same time. He explores the repercussions of our manipulations of nature through science, as exemplified by the Harvard Mouse, and suggests which extinct species we could clone (sadly, probably not the dodo), and whether we ought to try. He looks into the ramifications of getting up on our hind legs to walk, and what it meant to humankind when we lost our nocturnal vision. A visit to the supermarket leads him to uncover our vestigial longing for subtropical foods, and elsewhere he ponders how our instinct for “home” compares to that of other animals.

These elegant and penetrating essays, based on pieces originally published in Explore magazine, linger long in the imagination. They speak to some of our most fundamental questions about the human and animal worlds, and confirm Wayne Grady’s standing as one of our foremost literary science writers.

Customer Reviews:

Grady's great goal.......2006-08-28

We must give Wayne Grady full marks for ambition. When his editor wished to elevate him to "the Canadian David Quammen", Grady upped the ante. He wants to be the "John McPhee" of The Great White North. That's about as lofty as you can get. Does he succeed? Does this book herald a replacement for The New Yorker magazine's eclectic journalist? The topics are varied and interesting. Grady explains them clearly and earnestly, with flashes of dry wit.

In his "First Words" introduction, Grady demonstrates his desire to set new patterns. He notes that this collection relies on his columns in "explore" magazine without simply reprinting old material. He has expanded and updated the original material, sometimes overly restricted in lengths and deadline limitations. These, he says, are essays, not merely retread columns. Further, he wishes to have these essays seen as a "single voice" addressing a "unified theme." The voice is his and the theme is that humanity considers itself detached from the remainder of the world. That, he stresses, is an attitude that must be overcome. The theme, thus, is a reconsideration of where evolution has left our species in the natural order of things.

Technology, in its various forms, has allowed this one species to inhabit nearly all the planet, Grady says. Instead of adapting to the local environment, Homo sapiens has learned how to change its surroundings to suit itself. Agriculture remade land use. Various animals were brought into our communities and put to work or on the table. Darwin's natural selection has been replaced by artificial selection of both plants and animals. More, these technologies now have a global reach and impact. Technology now brings to our table products from Mexico and Africa. Is this innovative practice the result of our sub-tropical origins? Do we need these "exotic" foods to survive?, he asks.

We are going beyond the changing of some species to our design, however. We are eliminating species we deem "harmful" in some way. Killing wolves and coyotes was almost a daily ritual for herdsmen a few years ago. It still is for some. Grady's account of the Harters, a retired couple who chase coyotes with a pick-up and a dog team is stomach-wrenching. Their motive, "It keeps us young" beggars comment. The modern capacity to assign guilt by proximity led to the killing of a cougar suspected of attacking a jogger. It was the wrong cougar. Our desire to limit the world we must cope with goes beyond a few geriatrics chasing coyotes or slaughtering predators until we find the one that may have attacked a human. We are expanding our denial of life's diversity into government policy. Grady quotes his hero: "Nature has become an enemy of the state". Grady wants at least an armistace, if not a peace.

Grady isn't contending we give up the benefits our evolved intellect has granted us. His articles on health and dealing with natural threats show his broad approach. It's not a return to our primitive roots he seeks, but the application of some common sense. He also knows that won't be forthcoming unless we are informed about the world around us. He's like his idol in that sense. Has Grady achieved his goal of using nature writing to become the northern equal to McPhee? His thinking certainly places him close, even if his stylistic abilities fall slightly short. And it's Grady's knowledge of and depiction of the issues that make this book valuable. If he's fallen short, it's not for want of trying or talent. [stephen a. haines - Ottawa, Canada]

Product Description

A main theme of the book outlines the role of the quantum potential in quantum mechanics and general relativity and one of its origins via fluctuations formulated in terms of Fisher information. Another theme is the description of various approaches to Bohmian mechanics and their role in quantum mechanics and general relativity. Along the way various approaches to, for instance, the Dirac equation, the Einstein equations, the Klein-Gordon equation, the Maxwell equations and the Schrödinger equations are described. Statistics and geometry are intertwined in various ways and, among other matters, the aether, cosmology, entropy, fractals, quantum Kaehler geometry, the vacuum and the zero point field are discussed. There is also some speculative material and some original work along with material extracted from over 1000 references and the work is current up to April 2005.

Customer Reviews:

Bohm's extraordinary potential and modern statistical physics.......2007-06-05

by B. Roy Frieden

This book is an excellent summary - often in depth -- of modern themes in statistical mathematical physics. Its overall theme is the intimate connection between concepts of quantum fluctuations, expressed via Fisher information, diffusion processes, etc., on one hand, to the so-called "quantum potential" of Bohm on the other. A tremendous range of modern physical theory is presented, of which but a tiny subset can be mentioned in this review. The concept of the quantum potential was championed by D. Bohm as a link between classical and quantum theory, and is a trajectory-based version of elementary quantum mechanics (the trajectories existing at least as a handy "illusion," according to the author.). The Bohm potential has lately been used for similar purposes by Reginatto and Hall, and also to derive an "exact" version of the Heisenberg uncertainty principle. Concepts of information (Shannon- and Fisher- varieties) and entropy are widely used throughout. The Bohm potential is also used in the duality theory of Faraggi and Matone and in many other concepts of modern quantum theory. The view of physics afforded by the Extreme physical information (EPI) approach of Frieden is objectively and factually summarized. Quantum fluctuation theory is widely used, in application to diffusion theory and stochastic electrodynamics. So also is quantum field theory, in particular work by Nikolic.

This is predominantly a book of mathematical theory, which therefore contains many equations. These are both set out and located within the text. However, the notation is straightforward for any graduate-level theoretical physicist or mathematician, and the writing style is informal and (as a result) informative. There is a wealth of expository material on the aims and accomplishments of the theories. I heartily recommend the book to any physicist or mathematician who wants an in-depth view of today's statistical physics, particularly its tie-ins to the Bohm potential.

Book Description

Recent discoveries of new materials and improvements in calorimetric techniques have given new impetus to the subject of specific heat. Nevertheless, there is a serious lack of literature on the subject. This invaluable book, which goes some way towards remedying that, is concerned mainly with the specific heat of matter at ordinary temperatures. It discusses the principles that underlie the theory of specific heat and considers a number of theoretical models in some detail. The subject matter ranges from traditional materials to those recently discovered - heavy fermion compounds, high temperature superconductors, spin glasses and so on - and includes a large number of figures, tables and references. The book will be particularly useful for advanced undergraduate and postgraduate students as well as academics and researchers.

Book Description

Kathryn Tucker Windham begins this montage of stories with the sounds of summer and ends with a joyful Christmas memory. The mixture of tales from the mouth-watering description of good Southern food to the story of a governor more familiar with Tom Sawyer than Tom Jefferson comes together to evoke the image of a happy childhood. The title selection shows us how saying things just a little differently can make life more interesting, even when what's different is a little behind the times. Ms. Windham's ....

SEX AND THE SINGLE CHILD (" Sex is a three-letter word which sometimes needs some old-fashioned four-letter words to convey it's full meaning: words like give, care, help, kiss, feel, love, words which even a child can understand. ")

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SEX AND THE SINGLE CHILD (" Sex is a three-letter word which sometimes needs some old-fashioned four-letter words to convey it's full meaning: words like give, care, help, kiss, feel, love, words which even a child can understand. ")

Manufacturer: SIMON AND SCHUSTER, NEW YORK
ProductGroup: Book
Binding: Hardcover
ASIN: B000GV7S8U

Truth On Canvas (The old fashioned word in a new fashioned way)

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Truth On Canvas (The old fashioned word in a new fashioned way)
Roy L Brown
Manufacturer: Zondervan Publishing
ProductGroup: Book
Binding: Paperback

General | Spirituality | Religion & Spirituality | Subjects | Books

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ASIN: B000M4IO3Y

Product Description

Zondervan Publishing, Paperback, 240 pages. The messages contained in this book are those which Roy l. Brown brought in person over The Family Altar Broadcast radio services from Feb. 1, 1939 to March 12, 1939.

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Truth on canvas: The old fashioned word in a new fashioned way
Roy L Brown
Manufacturer: Roy L. Brown
ProductGroup: Book
Binding: Unknown Binding

General | Christianity | Religion & Spirituality | Subjects | Books
ASIN: B0007I5CGC

Old-Fashioned Words: What Makes Us Southerners, Volume IV

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Old-Fashioned Words: What Makes Us Southerners, Volume IV
Kathryn Tucker Windham
Manufacturer: audible.com
ProductGroup: Book
Binding: Audio Download
ASIN: B000JFQ2NU

Heritage: An old-fashioned sampler stitched with words / [by Edith Shannon]

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Heritage: An old-fashioned sampler stitched with words / [by Edith Shannon]
Edith Shannon
Manufacturer: Kitchen Table Book Bindery
ProductGroup: Book
Binding: Unknown Binding

Contemporary | General | Literature & Fiction | Subjects | Books
ASIN: B00072A0BU

Is geology antagonistic to scripture?: Or, A word for the old-fashioned book ; with a map of the Eastern Vallies of Norfolk, &c. To which is added an appendix, ... of the Hunstanton Cliff, in Norfolk

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Is geology antagonistic to scripture?: Or, A word for the old-fashioned book ; with a map of the Eastern Vallies of Norfolk, &c. To which is added an appendix, ... of the Hunstanton Cliff, in Norfolk
M. A. of Cambridge
Manufacturer: J. Hall
ProductGroup: Book
Binding: Unknown Binding

General | Christianity | Religion & Spirituality | Subjects | Books
ASIN: B00088JT4C

An old fashioned word;: An address delivered before the Portland Chamber of Commerce, May 9, 1938

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An old fashioned word;: An address delivered before the Portland Chamber of Commerce, May 9, 1938
Ernest Boyd MacNaughton
ProductGroup: Book
Binding: Unknown Binding

The old-fashioned spelling-bee book: Contains approximately 1500 words commonly misspelled or commonly mispronounced

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The old-fashioned spelling-bee book: Contains approximately 1500 words commonly misspelled or commonly mispronounced
Herbert Carlyle Libby
Manufacturer: [s.n.]
ProductGroup: Book
Binding: Unknown Binding

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ASIN: B0008AHEZQ

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