The way investors, banks and constituents rely on rating agencies will drastically change with the implementation of the Dodd-Frank Act. The historical background of rating agencies including potential changes in the ...The way investors, banks and constituents rely on rating agencies will drastically change with the implementation of the Dodd-Frank Act. The historical background of rating agencies including potential changes in the process of issuing their reports after the Dodd-Frank act is explored by the authors. CPAs （Certified Public Accountant） audit the financial statements of Securities and Exchange Commission [SEC] regulated issuers and are subject to the provisions of the Dodd-Frank act. Accountants may have new potential liabilities with clients that rely on credit agencies representations in financial statements. Analysis is made and conclusions are drawn on the effects of new credit rating agency responsibilities and that of auditors.展开更多
文摘The way investors, banks and constituents rely on rating agencies will drastically change with the implementation of the Dodd-Frank Act. The historical background of rating agencies including potential changes in the process of issuing their reports after the Dodd-Frank act is explored by the authors. CPAs （Certified Public Accountant） audit the financial statements of Securities and Exchange Commission [SEC] regulated issuers and are subject to the provisions of the Dodd-Frank act. Accountants may have new potential liabilities with clients that rely on credit agencies representations in financial statements. Analysis is made and conclusions are drawn on the effects of new credit rating agency responsibilities and that of auditors.
