Agency Assurance - Universität St.Gallen

vii
11.2.4 Information Assymetry Through Market Smoothing -
Manipulation
255
11.2.5 Information Assymetry Through Blockholding 256
11.2.6 The Impacts and Influences of Information Assymetry 257
11.3 Re-Defining the Right Activities 258
11.3.1 Communications for Collaboration and Control 258
11.3.2 Strategic Planning Advisory and Approval 259
11.3.3 Decision Implementation Oversight 261
11.3.4 Assurance of Legal, Regulatory and Ethics Policy Compliance 263
11.3.5 Finding the Right Balance Between Collaboration and Control 265
11.4 Signaling for Shareholder Value 266
12 Communications Failure - The Widening Information Gap 269
12.1 Communications Conflicts and Message Mix-Ups 269
12.2 Audited Financial Statements 270
12.2.1 Many Overlapping Certifications and Attestations 270
12.2.2 Rules-Based Standards Degrade the Principles-Based System 273
12.2.3 International Politics Raises the Transparency Barrier 278
12.2.4 Differing National Accounting Philosophies and Histories 279
12.3 Prospectuses, Pro Forma, and Other Non-GAAP Measures 280
12.4 Value-Based Reporting 283
12.5 Analyst Forecast Guidance 288
12.6 Plans and Budgets 289
12.7 Compensation Measures 292