The Future Direction of Accounting.
讨论国际资本市场中上市公司财务报告面临的挑战，指出当前财务报告滞后于市场全球化，需要改革以支持投资决策。
Abstract This article focuses on the future of international capital market. A number of changes are going to be needed to cope with public company financial reporting in what is increasingly an international capital market. In recognition of the demonstrated need to facilitate foreign offerings in Canada, analysts have recently published a proposal for world-class issuers entering the Canadian market that represents a more relaxed approach to foreign company disclosure, including financial statements. Capital markets have advanced rapidly beyond traditional geographic boundaries and those of us involved in the financial reporting process for public companies are clearly lagging behind in ensuring that meaningful financial reporting is available for investment decision-making purposes. Significant investments are being made on the basis of financial information that is unfamiliar to the investor and probably not well understood.