Research an accounting disclosure beyond the text and lesson notes. Discuss your opinion about the responsibility companies have regarding the disclosure of financial information. In your discussion answer the questions based on your opinion:

1. Are companies obligated to disclose more information beyond the requirements of GAAP and IFRS?
2. Which stakeholders are most affected by the company's disclosure policies?
3. Should the accounting profession at large be held accountable for the losses shareholders and employees suffered due to the financial disasters of Enron and Worldcom.

Answer rating: 100% (QA)

Disclosure of financial information To disclose business performance and governance to outside investors is the primary goal of corporate disclosure T... View the full answer