Cox on Universal Standards (International Financial Reporting Standards (IFRS)) Article Review by Nicky

A review of Christopher Cox's 2007 article entitled "Mutual Fund Prospectus Simplification."
# 151257 | 840 words | 2 sources | APA | 2012 | US
Published on May 31, 2012 in Economics (International) , Economics (Globalization)

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This paper reviews and analyzes Christopher Cox's article "Mutual Fund Prospectus Simplification" which encourages the US to adapt the principles of International Financial Reporting Standards (IFRS). According to Cox, doing this would enable the US to be more of a partner in world financial matters. The review further explores Cox's outlook in light of globalization. It also discusses standards as they relate to financial reporting and investors. The paper also describes the goals of International Financial Reporting Standards, which are designed to produce a unifying set of standards and procedures for accountancy professionals throughout the global community. The paper concludes by endorsing making improvements in the openness and clarity of financial reporting.

From the Paper:

"In a sense, the international standards which Cox endorses proceed from a perspective shared amongst those engaged in the extension of globalization that under such conditions as those imposed in the United States by the Securities and Exchange Commission (SEC), "mutual fund investors don't get a clear and concise description of the fund's investment objectives and strategies, or the fees, risks, and performance of the fund. There's no summary document written in plain English so that investors don't have to dig through pages of legalese for the key information they're after. What's needed is a summary that will quickly give a retail investor a basic understanding of the fund, and that will permit ready comparison of this one fund to others the investor might be considering." (Cox, 1) Therefore, as we consider such parameters as those heavily implicated in the International Financial Reporting Standards (IFRS), where it will be acknowledged that to the perspective of some these global standards actually reflect a trend of deregulation, the value of brevity described here above will factor as a significant defense of the approach."

Sample of Sources Used:

  • Barrett, M.E. (1971). Accounting for Intercorporate Investments: A Behaviors Field Experiment. Journal of Accounting Research, 9, 50-65.
  • Cox, C. (2007). Mutual Fund Prospectus Simplification. U.S. Securities and Exchange Commission. Online at

Cite this Article Review:

APA Format

Cox on Universal Standards (International Financial Reporting Standards (IFRS)) (2012, May 31) Retrieved February 06, 2023, from

MLA Format

"Cox on Universal Standards (International Financial Reporting Standards (IFRS))" 31 May 2012. Web. 06 February. 2023. <>