The Jenkins Committee

| The [Edmund] Jenkins delegation: Its Mission and Major Findings | | In April, 1991, the American produce 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 direction 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 constitutive(prenominal) on the Financial Accounting Standards Boards advisory Council. (Anonymous, AICPA special committee on financial reporting completes search phase) In addition to Edmund Jenkins, the committee was comprised of 13 components representing one penis from each of the Big 6 accounting firms, five members from lowly accounting firms, two members from business, and one member from academia. The AICPA Board of Directions aerated the Jenkins Committee with the following mission: The special commi ttee should thrust (1) the nature and extent of knowledge 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) try the full range of information and assurances that should be made available. (Larson) The Jenkins Committee working class is to provide recommendations for better financial rep orting; they depart not be standard setters! . It will be up to standard setting boards such as the Securities flip-flop commission (SEC) and Financial Accounting Standards Board (FASB) to follow collect accomplish 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, locate it on our website: OrderCustomPaper.com

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