The Building Public Trust

Business reporting in a postapocalypse global marketplace Clearly, now is the time for creating an effective businessreporting model appropriate for the markets of the twentyfirst century. Rather than start from scratch after the EnronAndersen fiasco, two leading consultants from PricewaterhouseCoopers present a plan that supplements the current model, one in which executives, accountants, analysts, investors, regulators, and other stakeholders can truly embrace the spirit of transparency. The Future of Corporate Reporting highlights the best practices for global financial reporting, explaining the concept of "performance auditing," which focuses on the real performance of the business as opposed to technical adherence to GAAS. Eccles and Masterson also discuss the pros and cons of GAAP v. IAS, present new approaches to reforming financial reporting, and outline a twentyfirstcentury model of accounting that will improve markets and benefit shareholders.