Transparency

Available online at www.sciencedirect.com Accounting Forum 33 (2009) 3853 Transparency and ?nancial reporting in mid-20th century British banking delay Billings a,? , Forrest Capie b b a Nottingham University headache School, Jubilee Campus, Wollaton Road, Nottingham NG8 1BB, linked Kingdom Cass Business School, London, Currently Seconded to the Bank of England, Threadneedle Street, London EC2R 8AH, get together Kingdom Abstract Until 1970, British banks were ?rm believers in the merits of non-disclosure, which obscured their true pro?ts and capital through pro?ts smoothing and the use of hidden reserves. umpteen different companies adopted the like view for as tenacious as legislation permitted, to a greater extentover there were special reasons why non-disclosure endured for longer in banking. This penning examines the persistence and demise of non-disclosure in banking, placing it in the context of the wider emergegrowth of ?nancial reporting in Britain, an d highlights similarities and differences in ?nancial reporting between banks and other types of company. © 2008 Elsevier Ltd. All rights reserved. Keywords: Banks; Hidden reserves; Disclosure; Transparency; Stability 1.

demonstration Transparency in modern ?nancial reporting is considered crucial in helping users to understand, and shit their own conclusions about, businesses. The volume of information open has reached levels not previously seen and continues to grow as reporting requirements cash in ones chips more extensive and voluntary disclosures are made for a innovation of reasons. There is wide ac ceptance that this long-term make out is ap! propriate in todays business soldiery with greater emphasis on corporeal governance issues, pertinacious by more demanding shareholders and other interested parties. Major corporeal scandals or crises, such as Enron in the USA and devoid Life in the UK, prompt calls for increased transparency in ?nancial reporting, although it is not obvious that reforms reduce the incidence of such events (Hooper &...If you need to get a full essay, order it on our website: OrderCustomPaper.com

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