Opinion

Tradition-bound accountancy profession is under threat. The threat, in an IT environment, comes from non-accountants, whether business graduates with IT skills or IT experts. These competitors are now the preferred employees of the accountancy firms worldwide. In the SAFA region too as business, finance, trade and even governments move forward to adopt IT as a mode of conducting their business, the professional accountant is only able to hold his/her own provided he/she exhibits necessary knowledge and skill in IT.

As the battle commences, Glenn Cheney reports on the concerns of US businesses about the IASB’s project on stock options.

Never let it be said that accountants lack guts. The nascent International Accounting Standards Board, still wet behind the ears, barely toddling on its own, has taken up the hottest accounting controversy in the world, one which could well make or break the Board.

Place investor's needs above corporate interests. Enron’s reported exploitation of financial-reporting rules is a deplorable but all too natural consequence of the erosion of the U.S. financial-reporting system.

As e-commerce evolves, businesses must maintain internal controls that ensure the integrity of information and the security of assets. The basic rules still apply: The cost of controls should be evaluated against the benefits that accrue to the business.

Is Auditor Independence really the answer that will make it all work? This is an age-old question of the accounting world, and there are no easy answers.