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IFRS for Small and Medium-Sized Enterprises

Structuring the Transition Process

  • Book
  • © 2008

Overview

Authors:
  1. Richard Wittsiepe
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Table of contents (23 chapters)

  1. Front Matter

    Pages I-XIV
    Download chapter PDF

  2. Introduction

    1. Introduction

      Pages 1-2

  4. Small and Medium-Sized Companies — Analysing the Transition Process

    1. The Project of the IASB for Small and Medium-Sized Entities

      Pages 61-63

    2. Hierarchy of IFRS Statements

      Pages 63-69

  5. The Audit Process — Theory and Practice Developments

    1. The Auditing Profession and Structure of the Audit Process

      Pages 69-73

    2. Standard Audit Process — Theory and Concepts

      Pages 73-81
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Keywords

About this book

The idea behind this paper has a rather long history. During the internet boom, the opportunity arose in 1997 of working together with ORACLE experts on major internet projects. In 1998, this turned into a company and there followed many projects and turbulent trade fairs. At the same time, the dissertation on the topic of the web trust audit was finished at the Vienna University of Economics and Business Administration in 2001. The introduction of quality assurance as a consequence of the Sarbanes Oxley Act, with the concomitant proliferation of checklists and procedures, provided the stimulus for the development of software of our own and as an extension it very soon also became clear that the implementation of the international financial reporting standards (IFRS) for small and medium-sized businesses could be largely automated. The solutions on offer were of little help, for two primary reasons: 1. The business model of the audit is based on a calculation of hours and for exactly this reason auditing teams have been growing and procedures becoming more complex since the mid-eighties, quite in contrast to the opportunities presented by the rapid development of technology during this period. 2. The software on offer is either very rudimentary and limited to a collection of checklists, or it attempts to solve every conceivable problem, which leads to a Leviathan.

About the author

Dr. Richard Wittsiepe ist seit 1990 als Wirtschaftsprüfer und seit 1999 als CPA in eigener Praxis in Duisburg tätig.

Bibliographic Information

  • Book Title: IFRS for Small and Medium-Sized Enterprises

  • Book Subtitle: Structuring the Transition Process

  • Authors: Richard Wittsiepe

  • DOI: https://doi.org/10.1007/978-3-8349-9754-8

  • Publisher: Gabler Verlag Wiesbaden

  • eBook Packages: Business and Economics, Business and Management (R0)

  • Copyright Information: Gabler Verlag | Springer Fachmedien Wiesbaden GmbH, Wiesbaden 2008

  • eBook ISBN: 978-3-8349-9754-8Published: 07 August 2008

  • Edition Number: 1

  • Number of Pages: XIV, 207

  • Topics: Accounting/Auditing

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