The paper conveys selected Islamic perspectives on business ethics to encourage debate on the subject in the USA. The objective is to better prepare American businessmen for the ongoing shifts to global management. The regulatory climate that is currently arising is linked to the ascendancy of...

The General Accounting Office (GAO) has been Congress’ long‐serving auditor, issuing reports designed to improve the operations of government agencies and to enhance their cost effectiveness. In order to do this effectively, it must have unrestricted access to records. The GAO, in response...

The auditor′s responsibility for detecting management fraud of a material nature is affirmed. Auditors are vulnerable to failure when they perform substantive procedures concerned with matters such as asset valuation. Some auditors have tended to “audit to” management representations, a...

The current wave of privatization, abroad more aptly referred to as denationalization, has achieved decidedly mixed results. Performance shortfalls have been fostered by operational weaknesses in the nature of the denationalization process, and by structural deficiencies which impede the...

Auditors are urged to promote communication with audit committees as well as with the entire board. Contacts with the entire board are most appropriate, given the rise of issues of corporate governance. It is not yet understood how effective audit committees have actually been, although the...

Changes of focus and of time‐frame are taking audit in a new direction, towards a prospective, preventative service. Examples, drawn especially from the construction sector, illustrate the planning approach this entails, particular techniques which can be applied and the different emphasis...