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|Title:||London or New York? Implications of the Enrol Debacle for Law and Accounting Reform in Hong Kong||Contributor(s):||Carver, A (author); Whitman, J (author)||Publication Date:||2002||Handle Link:||https://hdl.handle.net/1959.11/633||Abstract:||The collapse of the American corporation Enron has profound and hard lessons for Hong Kong. Enron has provided new examples of ways in which it is possible for unethical business behaviour to be lawful, in the positivist sense of law. This article argues that the complex relationship between the Companies Ordinance and the protection of investors can never be stated as more than a set of principles. The superstructure of the "public interest" rests, somewhat uneasily, on the professional shoulders of accountants. Accounting standards fill the gap between law and ethics in the system. The meaning of what is understood by a "true and fair view" remains the same, whilst the "contents" (ie specific accounting regulations) can be expected to change. A question for Hong Kong is who decides, and who should have the final say on those "contents": the accounting profession, the stock exchange, an accounting standard setter, the Securities and Futures Commission, or the Government?||Publication Type:||Journal Article||Source of Publication:||Hong Kong Law Journal, 32(1), p. 149-172||Publisher:||Faculty of Law, University of Hong Kong||Place of Publication:||Hong Kong||ISSN:||0378-0600||Field of Research (FOR):||150104 International Accounting||Peer Reviewed:||Yes||HERDC Category Description:||C1 Refereed Article in a Scholarly Journal||Other Links:||http://www.hklj.com/||Statistics to Oct 2018:||Visitors: 200
|Appears in Collections:||Journal Article|
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