|
The Reliable Relevance of Bank Financial Statement in Kazakhstan: The Fair Value Challenge for Auditors |
|---|---|
| รหัสดีโอไอ | |
| Creator | 1. John Dixon 2. Yuliya Frolova |
| Title | The Reliable Relevance of Bank Financial Statement in Kazakhstan: The Fair Value Challenge for Auditors |
| Publisher | Asian Forum on Business Education (AFBE) |
| Publication Year | 2556 |
| Journal Title | AFBE Journal |
| Journal Vol. | 6 |
| Journal No. | 2 |
| Page no. | 122 |
| Keyword | Fair value accounting,corporate governance,Fair Value accounting,accounting ethics |
| ISSN | 2071-7873 |
| Abstract | The reliable relevance of the financial statements filed by publicly listed banks in Kazakhstan in recent years is questionable. This is because ofinadequate disclosure on the fair value valuation of their financial assets, particularly those for which there is little, if any, market activity upon which to base the expected market valuation.The Accompanying Notes to filed Financial Statements do not providethe basis for end-users to judge either theirreliability(verifiability, neutrality, and representational faithfulness)or theirrelevance (predictive and feedback value).Conspicuously lacking is any robust assessment by auditors'ofany significant fair value estimation contingencies and risks.The crucial implication for end-users is their need to be ever alert to the ethicality of both management and auditors, as both grapple with the ethical dilemmas associated with estimating and auditing those financial estimates that are, and will always remainhypothetical and, thus, unknowable. |
