道德标准对有效公允价值的重要性外文翻译.docVIP

本科毕业论文（设计） 外 文 翻 译 题 目 新环境下公允价值在我国应用的若干问题 外文题目 Ethics is Imperative to Effective Fair Value Reporting: Weaving Ethics into Fair Value 外文出处 St. Johns University 外文作者 Teresa M.Cortese-Danile、The Peter J、 R.David Mautz Jr.、Irene M. McCarthy 原文： Ethics is Imperative to Effective Fair Value Reporting: Weaving Ethics into Fair Value Executive Summary The use of fair value measurement in accounting has been a source of concern for accountants and auditors, legislators, regulators and market participants. The role of fair value measurement (also known as “mark to market” accounting) in precipitating the near-collapse of financial markets in 2008 has been debated by Congress, the Securities and Exchange Commission (SEC) and the Public Company Accounting Oversight Board (PCAOB), among others. Congress explicitly considered the impact of fair value accounting in the Emergency Economic Stabilization Act of 2008. Although the SEC concluded, in its report to Congress, that fair value accounting did not contribute to the failures of major financial institutions, the PCAOB has been actively issuing Staff Audit Practice Alerts to assist auditors in identifying matters that could affect audit risk. The ethical application of fair value measurement remains a critical concern. Background The Conceptual Framework of Accounting identifies relevance and reliability as the primary qualitative characteristics of useful financial information. While both are theoretical ingredients of ideal information, a tension exists between relevance and reliability in practice. The accounting profession’s perennial devotion to historical cost measurement reflects an overriding concern with the reliability of financial reports. Moreover, the historical cost of an asset in an arm’s length transaction is arguably the most reliable measure of fair value at the transaction date. With the passage of time, h