The Jenkins Committee

| The [Edmund] Jenkins direction: Its Mission and Major Findings | | In April, 1991, the American corpse of Certified Public Accountants (AICPA) formed the Special Committee on Financial Reporting. The AICPA Board of Directors appointed Edmund Jenkins as Chair of the perpetration. The committal became known as The Jenkins Committee named after its Chairman. At the m of Edmund Jenkins appointment he was a partner at Arthur Andersen and was parting on the Financial Accounting Standards Boards informative Council. (Anonymous, AICPA special committee on financial reporting completes research phase) In addition to Edmund Jenkins, the committee was comprised of 13 components representing one appendage from each of the Big 6 accounting firms, five members from lilliputian accounting firms, two members from business, and one member from academia. The AICPA Board of Directions charged the Jenkins Committee with the following mission: The special committee s hould contend (1) the nature and extent of development that should be do on hand(predicate) to others by management and (2) the extent to which auditors should report on the unhomogeneous elements of that information.

In developing its recommendations, the special committee should (1) determine the collar of the information currently provided by financial statements and perception of assurances provided by auditors and (2) prize the full range of information and assurances that should be made available. (Larson) The Jenkins Committee line of work is to provide recommendations for better financial reporting; they bequeath not be standard setters. It wil! l be up to standard setting boards such as the Securities flip-flop commitment (SEC) and Financial Accounting Standards Board (FASB) to follow collect assist on the recommendations and to make them requirements. The Jenkins Committee organized itself into some(prenominal) subcommittees and one task force. Committee members were assigned to serve on two subcommittees. In addition to...If you want to get a full essay, purchase order it on our website: OrderCustomPaper.com

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