Accountants' reports on profit forecasts : regulation and practice

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dc.contributor.author Brennan, Niamh
dc.contributor.author Gray, S. J.
dc.date.accessioned 2011-05-04T13:54:19Z
dc.date.available 2011-05-04T13:54:19Z
dc.date.copyright 2000 MCB University Press en
dc.date.issued 2000
dc.identifier.citation Managerial Auditing Journal en
dc.identifier.issn 0268-6902
dc.identifier.uri http://hdl.handle.net/10197/2917
dc.description.abstract Profit forecasts are rarely disclosed in the UK except in prospectuses, circulars and during takeover bids. There are few regulations governing the content of profit forecasts. Under stock exchange rules these forecasts must be reported on by both reporting accountants and the merchant bankers advising on the deal. The format of the forecasts is at the discretion of individual companies. This paper summarises the regulations, including professional pronouncements, governing accountants’ reports on profit forecasts. Practical examples of such accountants’ reports extracted from 250 profit forecasts published during 701 UK takeover bids in the period 1988 to 1992 are reproduced and discussed. These examples provide useful precedent material for practitioners involved in reporting on a profit forecast. The paper concludes with a discussion of policy issues and suggestions for policy makers. en
dc.description.sponsorship Not applicable en
dc.format.extent 145331 bytes
dc.format.mimetype application/pdf
dc.language.iso en en
dc.publisher MCB University Press en
dc.subject Accountants’ reports en
dc.subject Profit forecasts en
dc.subject Takeovers en
dc.subject.lcsh Profit--Accounting en
dc.subject.lcsh Profit--Forecasting en
dc.subject.lcsh Financial statements en
dc.subject.lcsh Consolidation and merger of corporations en
dc.title Accountants' reports on profit forecasts : regulation and practice en
dc.type Journal Article en
dc.internal.availability Full text available en
dc.internal.webversions Publisher's version en
dc.internal.webversions http://dx.doi.org/10.1108/02686900010356923 en
dc.status Peer reviewed en
dc.identifier.volume 15 en
dc.identifier.issue 9 en
dc.identifier.startpage 447 en
dc.identifier.endpage 458 en
dc.identifier.doi 10.1108/02686900010356923
dc.neeo.contributor Brennan|Niamh|aut|
dc.neeo.contributor Gray|S. J.|aut|
dc.internal.rmsid 1274853


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