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  American Business Law Journal
  Volume 37, Issue 2, 2000
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  • Articles
  • At the Interface of Law and Accounting: An Examination of a Trend toward a Reduction in the Scope of Auditor Liability to Third Parties in the Common Law Countries
        Carl Pacini, Mary Jill Martin, and Lynda Hamilton
        p.171                                                                                      +cite        
        From the 1960s through the mid-1980s, the expansion of accountant liability to third parties for negligent misstatements was evident in the court decisions of the United States, United Kingdom, Canada, Australia, and New Zealand. During the last ten years, however, a trend has emerged in these five countries toward a more narrow scope of auditor liability to third parties for negligent misstatements. This article identifies and analyzes the court decisions and the statutes that have slowed or reversed the expansion of auditor liability to nonclients for negligence. The trend is examined in light of the different legal standards and policy considerations used by these five nations in deciding which third parties have a legal right to sue auditors for negligence. The article also discusses the underlying factors associated with the trend toward more limited liability for accountants.
  • Can the ISO 14000 Series Environmental Management Standards Provide a Viable Alternative to Government Regulation?
        Paulette L. Stenzel
        p.237                                                                                      +cite        
        This article explores the interface between ISO 14000 and environmental regulation. First, this article provides extensive background on ISO 14000. It describes how environmentalists and others encouraged businesses to develop environmental management standards, and it explores the reasons why businesses chose to develop them. In addition, the provisions of the 14000 series standards are summarized and progress in its implementation is discussed. Next, perspectives of business organizations, governmental bodies, and environmentalists are explored with respect to ISO 14000 and its ramifications for environmental law. ISO 14000's overall strengths and limitations are also analyzed. The author concludes that, although the standards do not provide an alternative to regulation, they provide a useful supplement to environmental regulation. They can facilitate the work of the U.S. Environmental Protection Agency and promote worldwide pursuit of sustainable development.
  • Federal Wetlands Regulation: Restrictions on the Nationwide Permit Program and the Implications for Residential Property Owners
        Randall S. Guttery, Stephen L. Poe, and C. F. Sirmans
        p.299                                                                                      +cite        
        This article examines the controversial federal wetlands permitting program and presents an empirical study regarding the effects of program compliance on residential property owners. Compliance costs imposed on the regulated community can be significant, due primarily to the lengthy time-delays involved, the expenses of preparing development impact studies and satisfying other paperwork requirements, and the burdens associated with satisfying regulatory mitigation requirements. The results of the study suggest that housing prices in subdivisions where compliance with the wetlands permit process is highly probable may be significantly different from prices for comparable houses in similar subdivisions where such compliance is not probable. The article concludes that the federal government should take into consideration the costs imposed on developers and residential home buyers, and reconsider its recent actions regarding the nationwide permit program.
  • Recognizing and Remedying Individual and Institutional Gender-Based Wage Discrimination in Sport
        Andrea M. Giampetro-Meyer
        p.343                                                                                      +cite        
        Coaches of women's college teams are raising questions about how the job of college coach should be evaluated and paid. Some coaches have asked courts to consider gender-based wage discrimination claims under three federal statutes, the Equal Pay Act of 1963, Title VII of the Civil Rights Act of 1964, and Title IX of the Education Amendments of 1972. After explaining federal statutes and cases in which courts have interpreted these statutes, this article urges the reader to see cases brought by coaches as examples of individual acts of discrimination layered over a fundamentally discriminatory institution. The article concludes that those who are interested in remedying gender-based wage discrimination in sport should reconsider the fundamental purpose of intercollegiate athletics and reaffirm a commitment to a model that reflects a preference for equality over efficiency.