Building Public Trust

Business reporting in a post-apocalypse global marketplace Clearly, now is the time for creating an effectivebusiness-reporting model appropriate for the markets of thetwenty-first century. Rather than start from scratch after theEnron-Andersen fiasco, two leading consultants fromPricewaterhouseCoopers present a plan that supplements the currentmodel, one in which executives, accountants, analysts, investors, regulators, and other stakeholders can truly embrace the spirit oftransparency. The Future of Corporate Reporting highlights the bestpractices for global financial reporting, explaining the concept of„performance auditing,“ which focuses on the real performance ofthe business as opposed to technical adherence to GAAS. Eccles andMasterson also discuss the pros and cons of GAAP v. IAS, presentnew approaches to reforming financial reporting, and outline atwenty-first-century model of accounting that will improve marketsand benefit shareholders.