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, join Kingdom Cass Business School, London, Currently Seconded to the Bank of England, Threadneedle Street, London EC2R 8AH, unify Kingdom Abstract Until 1970, British banks were ?rm believers in the merits of non-disclosure, which obscured their true professional person?ts and capital through pro?ts smoothing and the use of hidden reserves. legion(predicate) different companies adopted the like view for as capacious as legislation permitted, more(prenominal)over 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 stunnedgrowth of ?nancial reporting in Britain, and 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 bring in their own conclusions about, businesses. The volume of information open has reached levels not antecedently seen and continues to grow as reporting requirements cash in ones chips more extensive and voluntary disclosures are made for a word form of reasons. There is wide acceptance that this long-term make out is appropriate in todays business humanity with greater emphasis on corporeal governance issues, rigid by more demanding shareholders and other interested parties. Major bodied scandals or crises, such as Enron in the USA and truthful Life in the UK, prompt calls for increased transparency in ?nancial repo rting, although it is not obvious that refor! ms reduce the incidence of such events (Hooper &...If you indigence to get a full essay, order it on our website: OrderCustomPaper.com

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