The Jenkins Committee

| The [Edmund] Jenkins delegacy: Its Mission and Major Findings | | In April, 1991, the American convention 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 perpetration 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 helping on the Financial Accounting Standards Boards newsy Council. (Anonymous, AICPA special committee on financial reporting completes query phase) In addition to Edmund Jenkins, the committee was comprised of 13 components representing one element from each of the Big 6 accounting firms, five members from teeny-weeny 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 shou ld shrink (1) the nature and extent of reading 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) pronounce the full range of information and assurances that should be made available. (Larson) The Jenkins Committee occupation is to provide recommendations for better financial reporting; they will not be standard setters. It will! be up to standard setting boards such as the Securities flip-flop steering (SEC) and Financial Accounting Standards Board (FASB) to follow collect play 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, smart set it on our website: OrderCustomPaper.com

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