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- Climbing Out of the Credit Crunch
 - The principal source of the credit crunch is a failure in corporate governance at banks, which encouraged excessive short-term thinking and a blindness to risk, says ACCA in its policy paper about the year-long financial crisis.
Climbing Out of the Credit Crunch examines five key areas - corporate governance, remuneration and incentives, risk identification and management, accounting and financial reporting and regulation - and recommends that accepted practices in all these areas need to change to avoid future failures.
- RR92 - Impairment of assets - measurement without disclosure?
- This report assesses the extent of asset impairment losses disclosed by companies listed on the FTSE 350 index, within the context of Financial Reporting Standard 11, Impairment of Fixed Assets and Goodwill (ASB 1998), using published financial reports available in 2004.
- RR91 - Conservative accounting - the book-to-market ratio and stock returns
- This report examines how reliable a typical UK plc's balance sheet is for valuation purposes, how they might be manipulated and why they might differ from market value.
- IFAC: Reporting supply chain
- In recent years, there have been significant efforts to change and improve financial reporting. What is the result of these changes? Has the financial reporting process become better or worse? Have the financial reports become more or less relevant reliable and understandable? What should be done next?
IFAC commissioned an independent global survey of the participants in the financial reporting supply chain to get feedback on these questions.
Participants in the survey and interviews were asked about their opinions on four areas of the financial reporting supply chain: corporate governance, the financial reporting process, the audit of financial reports and the usefulness of financial reports.
- RR96 - SMEs, regulation and the role of the accountant
- This report explores perceptions held by SMEs and accountants in the UK and Canada about the extent and quality of the advice provided on a range of common regulation themes such as employment, health and safety, environment, and taxation.
- RR94 - The cost of capital in Europe: an empirical analysis and the preliminary impact of international accounting harmonis
- The report examines the properties of a cost of capital measure that is based on analysts' expectations: the 'implied costs of capital'. It reports on a study which calculated the implied costs of capital for large samples of European quoted companies, and examined the evolution of the cost of capital in Europe from 1995 to 2005. It also compares UK companies' cost of capital with that for their counterparts in the rest of Europe. Finally, it incorporates some findings from current research on the association between implied costs of capital and actual stock returns.
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