Reliable financial reporting and internal control : a global implementation guide /

In this extremely well researched and factually documented volume, Chorafas successfully relates financial reporting and capital finance issues to internal accounting controls in a global context. His work is organized in three main sections: "Internal Control and Global Accounting Standards," "COSO, Behavioral Analysis, Quality Control, and Statements of Financial Accounting Standards," and "The Counterparties of COSO: A New Capital Adequacy Framework and Capital at Risk." The book is timely for two reasons. First, an entire chapter is dedicated to comprehensive coverage of derivatives, e.g., SFAS 133--an extremely complex topic that baffles most students and practitioners. Second, Chorafas continually references the Treadway Commission Report reflecting recent legislation regarding internal accounting controls. Overall, a wonderful melding of related topics normally dealt with disparately. A great reference or supplementary text for students of auditing and contemporary or international accounting. In addition, finance majors specializing in banking would appreciate the third part of the book dedicated to this subject. J. F. Phillips; Southern Connecticut State University