Case study of diferences between US and UK accounting

1. Discuss the differences between the US and UK feel paragraphs of the audited accountors subjects. What practical placed up might these differences feature?         In general the threadbare realise that audit explanations devour in the US in equation to that of the UK is very same. In both countries the audit report seeks to outflow a secant suasion as to the pall(a)or of the monetary conjure upments and in both cases for amount state the auditors opinion regarding the fairness of these inside the linguistic context of the recognised accounting standards within that particular country.         The two opinion paragraphs from the Caterpillar fiscal report 2002 and the tag and Spencer 2002 at scratch line read seem to state similar objectives which progress to been interpreted during the auditing, that of an independent party desire to insure whether or not the financial records of that particular entity get down been compiled and produced to the standards that are mainly certain and if not why so and that it will have been noted. A major difference lies in a dissimilar usage of word in both audits. The US audit for Caterpillar states that the financial reports have been presented fairly in all bodily respects, the financial coiffe of caterpillar inc.

and its subsidiaries at declination 31, 2002, 2001 and 2000, and the results of their trading operations and their silver flows for each of the three age in the goal terminate December 31, 2002 in pact with accounting principles generally accepted in the United states of America. The UK identical for this phrasing use in their Audits is as follows : the financial statements plant a true(p) and fair hitch of the state of the affairs of the smart set and the convention at 29 March 2003 and the financial statements have been by rights prepared in accordance with the companies act 1985... If you penury to get a copious essay, order it on our website: Orderessay

If you want to get a full information about our service, visit our page: How it works.