This book explores how chief financial officers (CFOs), audit committee chairs, and audit engagement partners resolve issues that have given rise to interactions, discussions, or negotiations, between two of these three participants. It is a follow-up of Behind Closed Doors (Beattie et al. 2001), which received the Deloitte/American Accounting Association's Wildman Medal in 2007. The book provides an update of the 1999 results in the 2007/2008 U.K. regulatory environment that, as the U.S. one, has undergone significant change since 1999. The book consists of two parts.
The authors present these changes in Chapter 2. After reading the book, I understand why they do it so early in the book. As shown in their updated model of financial reporting interaction, the national regulatory regime now has a significant influence on the interaction outcomes. As in many other jurisdictions, the enforcement regime is now characterized by an increased review of...
