The life and times of the Financial Reporting Panel
Stephanie and UNSW academic Jeffrey Knapp have had their article The Life and Times of the Financial Reporting Panel published in the Company and Securities Law Journal, Vol 30/8 November 2012. We can't post the article here, but it is available through academic libraries.
The abstract reads: "On 1 January 2005, the Financial Reporting Panel was established at law amid high expectations that, as an alternative to the courts, it would prove to be a useful accounting dispute resolution body. On 23 August 2012, the Panel was effectively closed with the passage through both Houses of Parliament of the Corporations Legislation Amendment (Financial Reporting Panel) Bill 2012 (Cth). The reason proffered for the Panel's closure is that its ongoing existence could not be justified on the ground of cost-benefit, given a history of few referrals and rare use. This article is the first to consider how the Panel has operated and to narrate its history from origination to closure. The article also analyses why the Panel was underused and failed to meet its original expectations."
Chris and Stephanie act as consultants and experts (“clean” and “dirty” experts) in the context of dispute resolution on a variety of financial reporting and audit issues.
Westworth Kemp Consultants can provide support to businesses, professional practices and regulators seeking to implement systems designed to foster compliance
Independent advice on the interpretation of auditing (or assurance) and accounting (or financial reporting) standards can be hard to find.