Download or read book Statutory Auditors Independence in the Context of Corporate Accounting Scandal written by Mitrendu Roy and published by . This book was released on 2015 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: Professional accountants external to the organization are appointed by statute of law to verify the authenticity of financial statements of an organization. They are commonly known as statutory auditors. Since financial decision of a large part of the society related to the business depends upon their opinion, statutory auditors play a significant role in the economy. CAs in India, CPAs in USA execute the task of statutory audit of financial statements. Integrity, independence and unbiased functioning of statutory auditors are extremely essential for protection of stakeholders' interest. Therefore, professional institutes (e.g., ICAI in India; AICPA in US) governing statutory auditors enforce certain regulatory pronouncements for them to attain this goal. In present-day economic environment, greed and tremendous urge to survive in the cutthroat competitions tempt some company managements to breach accounting laws and manipulate financial statements. Accounting misdeeds in the financial statement eventually come under regulatory radar leading to the company's demise, impacting most of its stakeholders. Every time a scandal is revealed, automatically questions on auditors' honesty and independence are raised. In all those frauds, it was found that threats to statutory auditors' independence were acute and safeguards to reduce those threats were ineffective. Among many scandals in different parts of the globe, two notable scandals were Enron scandal in USA and Satyam scandal in India. In the context of current regulatory framework governing statutory audit in both the countries, this study attempts to analyze statutory auditors' independence in these two scandals and draws a comparison between them based on certain parameters.
Download or read book Statutory Auditors Independence in Protecting Stakeholders Interest written by Mitrendu Narayan Roy and published by Springer. This book was released on 2018-07-20 with total page 517 pages. Available in PDF, EPUB and Kindle. Book excerpt: Corporate failures and accounting scandals have shaken the foundations of investors’ confidence in the transparency, integrity and accountability of corporations and financial markets. There have also been public disquiet about the role of professional auditors and audit firms, who had been associated with these corporate scandals. Written from a global perspective, the book assists in understanding the gravity of independent attitude of statutory auditors in protecting stakeholders’ interest and examines the effectiveness of the existing standards and other legal and regulatory requirements in enforcing statutory auditors’ independent engagement. It then suggests modifications in those regulations. The study has been made through seven chapters in order to address empirically statutory auditors’ independence in protecting stakeholders’ interest. Primary audiences of the book are researchers in finance and control, students, and professionals in the field of accounting and auditing.
Download or read book Statutory Auditors Independence in the Protection of Stakeholders Interest written by Mitrendu Roy and published by . This book was released on 2015 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: An audited financial statement is considered to be authentic and reliable by the stakeholders. Therefore, statutory auditors play an important role in protecting stakeholders' interest in a company. Thus, statutory auditors should be independent from their audit client. However, in recent corporate accounting scandals, a company's demise resulted in disastrous consequences for its stakeholders and audit failure was diagnosed to be one of the reasons behind those scandals. In this backdrop, based on existing literature, this paper attempts to identify a few issues that positively or negatively affect statutory auditors' independence in their professional engagement. Opinion of statutory auditors and select groups of respondents from other related occupations on these variables have been collected and duly analyzed. Homogeneity in the opinion of select respondent groups has also been tested using Chi-Square Test of Homogeneity. Finally, the important findings of the study are summarized and a suitable conclusion on statutory auditors' independence is drawn.
Download or read book Auditor and Audit Independence in an Age of Financial Scandals written by David J. Cooper and published by . This book was released on 2013 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: It is in the context of the huge (but largely unaccountable) impact of accounting and accountants that the demise of Arthur Andersen and the financial scandals of the past few years need to be seen. These scandals raise questions of independence and the role of the audit industry in alerting investors, employees, suppliers, customers and the general public to the realities of corporate wrongdoing and weakness. This paper introduces a Special Issue that offers a counter-hegemonic story, pointing out that things can be different and better in substantive ways, that auditor independence and integrity require more substantive thinking and analysis than simple re-arrangements of regulatory institutions or calls for superheroes who can transcend pressures to abet crime. After reviewing the contents of the various contributions to this Special Issue, the paper makes some brief comments about possible solutions to the problem of independence of audits and suggests a focus on audit, not auditor, independence.
Download or read book Statutory Auditors Objectivity in Corporate Accounting Scandals written by Siddhartha Sankar Saha and published by . This book was released on 2015-03-21 with total page 240 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Basics of IT Audit written by Stephen D. Gantz and published by Elsevier. This book was released on 2013-10-31 with total page 271 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Basics of IT Audit: Purposes, Processes, and Practical Information provides you with a thorough, yet concise overview of IT auditing. Packed with specific examples, this book gives insight into the auditing process and explains regulations and standards such as the ISO-27000, series program, CoBIT, ITIL, Sarbanes-Oxley, and HIPPA. IT auditing occurs in some form in virtually every organization, private or public, large or small. The large number and wide variety of laws, regulations, policies, and industry standards that call for IT auditing make it hard for organizations to consistently and effectively prepare for, conduct, and respond to the results of audits, or to comply with audit requirements. This guide provides you with all the necessary information if you're preparing for an IT audit, participating in an IT audit or responding to an IT audit. Provides a concise treatment of IT auditing, allowing you to prepare for, participate in, and respond to the results Discusses the pros and cons of doing internal and external IT audits, including the benefits and potential drawbacks of each Covers the basics of complex regulations and standards, such as Sarbanes-Oxley, SEC (public companies), HIPAA, and FFIEC Includes most methods and frameworks, including GAAS, COSO, COBIT, ITIL, ISO (27000), and FISCAM
Download or read book Government Auditing Standards 2018 Revision written by United States Government Accountability Office and published by Lulu.com. This book was released on 2019-03-24 with total page 234 pages. Available in PDF, EPUB and Kindle. Book excerpt: Audits provide essential accountability and transparency over government programs. Given the current challenges facing governments and their programs, the oversight provided through auditing is more critical than ever. Government auditing provides the objective analysis and information needed to make the decisions necessary to help create a better future. The professional standards presented in this 2018 revision of Government Auditing Standards (known as the Yellow Book) provide a framework for performing high-quality audit work with competence, integrity, objectivity, and independence to provide accountability and to help improve government operations and services. These standards, commonly referred to as generally accepted government auditing standards (GAGAS), provide the foundation for government auditors to lead by example in the areas of independence, transparency, accountability, and quality through the audit process. This revision contains major changes from, and supersedes, the 2011 revision.
Download or read book Auditing and Accounting Cases Investigating Issues of Fraud and Professional Ethics written by Jay Thibodeau and published by McGraw-Hill/Irwin. This book was released on 2010-03-23 with total page 288 pages. Available in PDF, EPUB and Kindle. Book excerpt: The approach used by Thibodeau and Freier emphasizes the substantial benefits of using real-life case examples in helping to impart knowledge related to the practice of auditing. This type of approach has long been acknowledged as a superior manner in which to teach. Since the authors present the concepts of auditing using actual corporate contexts, they seek to provided students with a real-life appreciation of these issues and clearly demonstrate the value of the Sarbanes-Oxley Act of 2002 and the post-Sarbanes technical audit guidance. The Third Edition has been updated to reflect all of the major changes happening in today’s society with actual companies such as Enron, WorldCom, Qwest, Sunbeam, that have become synonymous with the capital markets’ crisis in confidence. With 45 different short cases, instructors can assign 8 to 9 different cases for each of four different semesters.
Download or read book Ethics for Accountants and Auditors written by Louise Kretzschmar and published by Oxford University Press, USA. This book was released on 2019 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: "Ethics for Accountants and Auditors offers an introduction to ethical value systems and ethical theories that are relevant to the accounting and auditing profession. The text combines theory and practical application to equip students and practitioners with the tools to deal with various ethical dilemmas. The book is suited for graduate and postgraduate teaching, managerial training and the ethical orientation of members of accounting and auditing professional associations."--Publisher's description.
Download or read book Government Auditing Standards written by Government Accounting Office and published by www.Militarybookshop.CompanyUK. This book was released on 2012 with total page 242 pages. Available in PDF, EPUB and Kindle. Book excerpt: Newly revised in 2011. Contains the auditing standards promulgated by the Comptroller General of the United States. Known as the Yellow Book. Includes the professional standards and guidance, commonly referred to as generally accepted government auditing standards (GAGAS), which provide a framework for conducting high quality government audits and attestation engagements with competence, integrity, objectivity, and independence. These standards are for use by auditors of government entities and entities that receive government awards and audit organizations performing GAGAS audits and attestation engagements.
Download or read book Auditing written by Wally Smieliauskas and published by Whitby, Ont. : McGraw-Hill Ryerson. This book was released on 2006 with total page 800 pages. Available in PDF, EPUB and Kindle. Book excerpt: In November of 2001, the Texas-based energy giant, Enron, filed for bankruptcy amidst the scandal of institutionalized, systematic, and creative accounting fraud. The impact of this scandal has been felt worldwide. There have been radical changes in audit standards and the regulatory environment, as well as significantly revised expectations of the auditor's role in corporate governance and capital markets. Now, more than ever before, auditor's and their clients are faced with considerable risks. Developed with students in mind, Auditing: An International Approach is recognized for its balanced presentation of auditing concepts and processes. The fourth edition has been updated to reflect ongoing changes in the post-Enron environment, including expanded coverage of ethics, fraud, corporate governance, independence risk, the role of audit committees. It now also introduces the importance of a critical-thinking framework to help structure professional audit decision making and analysis in financial reporting.Auditing: An International Approach focuses on explaining the substance and operational meaning of Canadian auditing standards in the context of making audit decisions. International standards on Auditing are discussed as appropriate and specific, U.S. auditing standards are also reviewed when considered important in the Canadian environment. With Canadian auditing standards in the process of harmonizing with International Standards, this unique international perspective is more important than ever and brings students to the leading edge of auditing.Balanced, current, accurate, authoritative, and comprehensive, Auditing: An International Approach is your guide to the evolving world of auditing.
Download or read book Advances in the Technology of Managing People written by Pamela Ann Gordon and published by Emerald Group Publishing. This book was released on 2019-06-10 with total page 224 pages. Available in PDF, EPUB and Kindle. Book excerpt: The book provides a comprehensive look at emerging technological trends in the workplace. Technological issues and trends are compiled from different venues and explored from management, HR, ethical, and organizational behavior viewpoints.
Download or read book Following the Money written by George Benston and published by Brookings Institution Press. This book was released on 2004-05-13 with total page 154 pages. Available in PDF, EPUB and Kindle. Book excerpt: A Brookings Institution Press and American Enterprise Institute publication A few years ago, Americans held out their systems of corporate governance and financial disclosure as models to be emulated by the rest of the world. But in late 2001 U.S. policymakers and corporate leaders found themselves facing the largest corporate accounting scandals in American history. The spectacular collapses of Enron and Worldcom—as well as the discovery of accounting irregularities at other large U.S. companies—seemed to call into question the efficacy of the entire system of corporate governance in the United States. In response, Congress quickly enacted a comprehensive package of reform measures in what has come to be known as the Sarbanes-Oxley Act. The New York Stock Exchange and the NASDAQ followed by making fundamental changes to their listing requirements. The private sector acted as well. Accounting firms—watching in horror as one of their largest, Arthur Andersen, collapsed after a criminal conviction for document shredding—tightened their auditing procedures. Stock analysts and ratings agencies, hit hard by a series of disclosures about their failings, changed their practices as well. Will these reforms be enough? Are some counterproductive? Are other shortcomings in the disclosure system still in need of correction? These are among the questions that George Benston, Michael Bromwich, Robert E. Litan, and Alfred Wagenhofer address in Following the Money. While the authors agree that the U.S. system of corporate disclosure and governance is in need of change, they are concerned that policymakers may be overreacting in some areas and taking actions in others that may prove to be ineffective or even counterproductive. Using the Enron case as a point of departure, the authors argue that the major problem lies not in the accounting and auditing standards themselves, but in the system of enforcing those standards.
Download or read book Auditor Independence written by Ismail Adelopo and published by Routledge. This book was released on 2016-04-08 with total page 368 pages. Available in PDF, EPUB and Kindle. Book excerpt: In Auditor Independence, Ismail Adelopo argues that the importance of auditors' independence cannot be over-emphasised. Not only do auditors provide certification of the truth and fairness of the information prepared by managers, they also have a duty to express opinions on the degree of compliance with laws and regulations guiding a firm's operations. Theirs is a socially important responsibility. In all that has been proposed to mitigate the governance crisis and restore confidence in the market system, relatively little attention has been paid to auditor independence. Examining the historical role of auditing in corporate governance and the regulatory context, this book sets the function within a theoretical framework and then provides empirical analysis of the problem issues such as the relationship between audit committees and external auditors and the probity of providing non-auditing services to audit clients. The focus on matters that are damaging to market confidence and threatening to the reputation of the auditing profession, means the conclusions and recommendations in this book are important for key stakeholders, including policy makers, regulators, those running companies, and their investors and customers. This is also a book for those responsible for training in the auditing profession and for others with a research or academic interest in the matters addressed.
Download or read book The Rise of the Accounting Profession written by John L. Carey and published by . This book was released on 1969 with total page 405 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Creative Accounting Fraud and International Accounting Scandals written by Michael J. Jones and published by John Wiley & Sons. This book was released on 2011-11-01 with total page 581 pages. Available in PDF, EPUB and Kindle. Book excerpt: Business scandals are always with us from the South Sea Bubble to Enron and Parmalat. As accounting forms a central element of any business success or failure, the role of accounting is crucial in understanding business scandals. This book aims to explore the role of accounting, particularly creative accounting and fraud, in business scandals. The book is divided into three parts. In Part A the background and context of creative accounting and fraud is explored. Part B looks at a series of international accounting scandals and Part C draws some themes and implications from the country studies.
Download or read book Handbook of Research on the Significance of Forensic Accounting Techniques in Corporate Governance written by Kamwani, Suleman Sherali and published by IGI Global. This book was released on 2022-02-25 with total page 417 pages. Available in PDF, EPUB and Kindle. Book excerpt: The financial community has undergone a realization of the failure of corporate communication required for forensic professionals to expose structural weaknesses within businesses. Many organizations and businesses within the financial community have flawed internal controls, poor corporate governance, and fraudulent financial statements. It is vital to develop forensic accounting techniques to reduce external auditor deficiencies in fraud detection and their implications and enhance corporate efficiency in fraud detection. The Handbook of Research on the Significance of Forensic Accounting Techniques in Corporate Governance discusses forensic accounting techniques and how forensic accountants add value while investigating claims and fraud. It further highlights the benefits of forensic accounting audits for corporate benefits and evidence acceptability. Covering topics such as credit card fraud, blockchain technology, and developing countries, this book is an excellent resource for accounting professionals, external auditors, students and faculty of higher education, auditors, researchers, and academicians.
