$700B rescue plan: relevance to accounting industry?

Grant Thornton
#1

Hi,

I’m a newbie here, howdy everyone!

I have an interview coming up with Grant Thornton and I know that I have to research all news that I could use in the commercial awareness side of things. I know all about SARBOX and the credit crunch (well, I know everything that is on this site), what I was wondering was whether the failed rescue plan in the US will have an effect on the accounting industry, in particular audit (as this is what I have applied for).

As SARBOX and the credit crunch are probably the two most obvious choices to talk about I would like to know about this as its very much the talk of the moment!

I’ve tried reading many articles on it but not really sure where it connects back to accounting!

Thanks in advance,

Darren

Also, great site, thanks to the creators and users!

#2

yeah i would like to know this also!

#3

it might balence the books a bit? apart from that im not too sure.

#4

Hi,

The rescue bid is no longer failed…it passed into law on Friday.

With the credit crunch, Sarbox, FSA etc I do not think they will require a great deal of detail. Its probably most important to recognise that there is a need for better regulation of the markets, internal business procedures etc rather than more regulation. It is important in your interview to keep in mind the needs of the client i.e improved regulation and transparency in a business may actually improve the long term prospects of that business because they will be more attractive to investors, customers.

Just think logically even if you dont know the exact facts and figures