An Examination of the Perceptions of Auditors and Chief Financial Officers of Various Regulations Introduced by the Dodd-Frank Financial Reform Bill

• Autores: John E. McEnroe, Mark Sullivan
• Localización: Advances in Public Interest Accounting, ISSN 1041-7060, Volume 16, 2013, págs. 187-220
• Idioma: inglés
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• Resumen

  • The Dodd�Frank Wall Street Reform and Consumer Protection Act calls for substantially increased government regulation. Whether those regulations are, in some sense, appropriate is a function of whether the benefits of the increased regulation exceed the costs. Those costs and benefits, however, are probably impossible to measure, at least at this early stage of the implementation of the Dodd�Frank reforms. On the other hand, financial professionals who regularly deal with governmental regulations probably have a good sense of the costs and benefits based on their own experience with other similar regulations. This chapter reports the result of a survey of high-level auditors and CFOs regarding their perceptions of the costs and benefits of the main parts of the financial regulatory reform incorporated into the Dodd�Frank legislation. It concludes that there is support among these individuals for some aspects of Dodd�Frank, but no consensus.