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Topic-role of accounting in the financial crisis

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Reference no: EM131405020 , Length: 3000

Paper Topic-Role of accounting in the financial crisis

The recent financial crisis was a major economic event that resulted to devastating impacts on the global financial and economic system. The occurrence of the financial crisis was challenging to financial managers and accountants who had the pressure to describe the causes of the resultant financial meltdown. The major impacts of the crisis affected users of financial statements who are in dire need of credible and reliable financial accounting information for their decision making. Such information could only be provided by accountants, auditors, and other financial experts, which in turn leads to the reflection that such parties played a role in the financial crisis.

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