Download or read book The Audit Firm Rotation Rule written by Mara Cameran and published by . This book was released on 2011 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The European Union's response to recent financial reporting scandals on both sides of the Atlantic reached a crucial stage recently when the European Parliament voted to accept the new 8th Company Law Directive. It takes the minimum harmonisation route to set the basic standards that Member States need to enforce to protect audit quality whilst allowing them the freedom to add specific national requirements where they see fit. One practical example stems from the position reached on the topics of the mandatory rotation of audit firms. The 8th Directive suggests the rotation of individual audit partners, albeit one that leaves Member States the freedom to decide whether to enforce mandatory firm rotation at the national level (Amendment 101 - 26 Sep. 05). In this paper the evidence on mandatory audit firm rotation from around the world are examined in order to offer a global perspective on this regulatory hot topic. Our research supports the idea that benefits of mandatory audit firm rotation are largely unproven. First of all this study reviews the conclusions and findings of 26 reports by regulators or other representative bodies from around the world. Of the 26 reports, 22 conclude against the benefits of mandatory audit firm rotation and while 4 are in favour. The study also looked at 33 academic studies (9 opinion based and 24 based on empirical evidence). The majority did not support mandatory audit firm rotation.

Download or read book The Audit Mandatory Rotation Rule written by Mara Cameran and published by . This book was released on 2017 with total page 33 pages. Available in PDF, EPUB and Kindle. Book excerpt: Mandatory audit rotation imposes periodical breaks to audit engagements and is intended to avoid excessively long relationships between the auditor and the client. The E.U. has finally introduced mandatory rotation for the audit firm in addition to the already existing audit partner rotation rules. The U.S., however, has for now decided to retain the partner rotation rule without introducing mandatory audit firm rotations. After an overview of the experience of a number of countries, we summarize the pros and cons of a compulsory change in the audit firm. Moreover, we focus on the empirical evidence collected on the benefits and costs of the rule. So far, investigations into the impact of the rule at corporate and market level have not been able to prove that the benefits outweigh the costs.

Download or read book The Routledge Companion to Auditing written by David Hay and published by Routledge. This book was released on 2014-09-15 with total page 387 pages. Available in PDF, EPUB and Kindle. Book excerpt: Auditing has been a subject of some controversy, and there have been repeated attempts at reforming its practice globally. This comprehensive companion surveys the state of the discipline, including emerging and cutting-edge trends. It covers the most important and controversial issues, including auditing ethics, auditor independence, social and environmental accounting as well as the future of the field. This handbook is vital reading for legislators, regulators, professionals, commentators, students and researchers involved with auditing and accounting. The collection will also prove an ideal starting place for researchers from other fields looking to break into this vital subject.

Download or read book Mandatory Audit Firm Rotation Study written by United States. General Accounting Office and published by . This book was released on 2004 with total page 172 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Mandatory audit firm rotation study study questionaires responses and summary of respondents comments written by United States. General Accounting Office and published by DIANE Publishing. This book was released on 2004 with total page 167 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book External Audit Arrangements at Central Banks written by Mr.Atilla Arda and published by International Monetary Fund. This book was released on 2018-09-11 with total page 42 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper takes stock of external audit arrangements at central banks. Its focus is on the annual audit of central bank financial statements, as well as legal and institutional measures that support audit quality and independence. The paper outlines good practices in these areas and provides a summary of actual practices observed based on a review of audited financial statements and central bank legislation. While the audit frameworks for central banks differ depending on their legal and institutional circumstances, central banks’ external audits increasingly follow international standards. Most of them are audited by auditors with international affiliations and embrace modern governance structures that provide for audit oversight. However, the paper also notes that a sizeable number of central banks do not publish the audit results in a timely manner, which leaves room for improvement in transparency practices.

Download or read book Principles of Auditing written by Rick Hayes and published by Pearson Higher Ed. This book was released on 2014-06-26 with total page 737 pages. Available in PDF, EPUB and Kindle. Book excerpt: This text offers a structured approach to principles of auditing using International Standards on Auditing as its basis. Written by a team of influential professional auditors with a wealth of teaching experience this book provides a real world perspective on current auditing practices with coverage of cutting edge developments and techniques. The full text downloaded to your computer With eBooks you can: search for key concepts, words and phrases make highlights and notes as you study share your notes with friends eBooks are downloaded to your computer and accessible either offline through the Bookshelf (available as a free download), available online and also via the iPad and Android apps. Upon purchase, you'll gain instant access to this eBook. Time limit The eBooks products do not have an expiry date. You will continue to access your digital ebook products whilst you have your Bookshelf installed.

Download or read book Mandatory Audit Rotation written by Kathleen Harris and published by . This book was released on 2012 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: This study investigates whether mandatory auditor rotation rules are associated with changes in audit quality using available data from three countries that have adopted mandatory auditor rotation (MAR) rules. Consistent with prior literature, I assume that earnings management measures capture the various methods employed by corporate insiders to exercise their discretion to manage earnings that is not constrained by the audit firm. The more discretion, ceteris paribus, in earnings, the lower the audit quality. First, I investigate the debonding effect of an MAR policy. Debonding describes the effect that is often the primary motivation for adopting MAR rules. That is, end the possibility of long-term audit engagements and the economic bond of audit firms to their clients will be broken (by enhancing auditor independence and objectivity). In the sample after adoption of MAR rules, the data show evidence of less earnings management, less managing to earnings targets, and more timely loss recognition compared to the sample before adopting MAR rules. From these results, I conclude that audit markets appear to improve, on average, from enactment of MAR rules. I then investigate the allowed discretion in the year before and the year after auditor changes in which rotation rules have been adopted (termed the low client-specific knowledge effect). I find evidence of lower audit quality in both years. These results highlight the importance, particularly to regulators of audit markets, of considering ways to mitigate the erosion of audit quality when making the transition to new auditors under MAR rules (e.g., the use of detailed handover files between predecessor and successor audit firms or "four-eyes principle" in years of initial audits).

Download or read book Regulation and the Accounting Profession written by John W. Buckley and published by Belmont, Calif. : Lifetime Learning Publications. This book was released on 1980 with total page 266 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Sarbanes Oxley and the New Internal Auditing Rules written by Robert R. Moeller and published by John Wiley & Sons. This book was released on 2004-05-10 with total page 336 pages. Available in PDF, EPUB and Kindle. Book excerpt: Sarbanes-Oxley and the New Internal Auditing Rulesthoroughly and clearly explains the Sarbanes-Oxley Act, how itimpacts auditors, and how internal auditing can help with itsrequirements, such as launching an ethics and whistle-blowerprogram or performing effective internal controls reviews under theCOSO framework. With ample coverage of emerging rules that have yetto be issued and other matters subject to change, this bookoutlines fundamental blueprints of the new rules, technologicaldevelopments, and evolving trends that impact internal auditprofessionals. Order your copy today!

Download or read book Governmental Accounting Auditing and Financial Reporting written by Stephen J. Gauthier and published by Gfoa. This book was released on 2005 with total page 746 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book The National Public Accountant written by and published by . This book was released on 1967 with total page 540 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book The Anatomy of Corporate Law written by Reinier Kraakman and published by Oxford University Press. This book was released on 2017-01-19 with total page 305 pages. Available in PDF, EPUB and Kindle. Book excerpt: This is the long-awaited third edition of this highly regarded comparative overview of corporate law. This edition has been comprehensively revised and updated to reflect the profound changes in corporate law and governance practices that have taken place since the previous edition. These include numerous regulatory changes following the financial crisis of 2007-09 and the changing landscape of governance, especially in the US, with the ever more central role of institutional investors as (active) owners of corporations. The geographic scope of the coverage has been broadened to include an important emerging economy, Brazil. In addition, the book now incorporates analysis of the burgeoning use of corporate law to protect the interests of "external constituencies" without any contractual relationship to a company, in an attempt to tackle broader social and economic problems. The authors start from the premise that corporations (or companies) in all jurisdictions share the same key legal attributes: legal personality, limited liability, delegated management, transferable shares, and investor ownership. Businesses using the corporate form give rise to three basic types of agency problems: those between managers and shareholders as a class; controlling shareholders and minority shareholders; and shareholders as a class and other corporate constituencies, such as corporate creditors and employees. After identifying the common set of legal strategies used to address these agency problems and discussing their interaction with enforcement institutions, The Anatomy of Corporate Law illustrates how a number of core jurisdictions around the world deploy such strategies. In so doing, the book highlights the many commonalities across jurisdictions and reflects on the reasons why they may differ on specific issues. The analysis covers the basic governance structure of the corporation, including the powers of the board of directors and the shareholder meeting, both when management and when a dominant shareholder is in control. It then analyses the role of corporate law in shaping labor relationships, protection of external stakeholders, relationships with creditors, related-party transactions, fundamental corporate actions such as mergers and charter amendments, takeovers, and the regulation of capital markets. The Anatomy of Corporate Law has established itself as the leading book in the field of comparative corporate law. Across the world, students and scholars at various stages in their careers, from undergraduate law students to well-established authorities in the field, routinely consult this book as a starting point for their inquiries.

Download or read book The Death of Corporate Reputation written by Jonathan Macey and published by FT Press. This book was released on 2013-03-20 with total page 283 pages. Available in PDF, EPUB and Kindle. Book excerpt: Why did the financial scandals really happen? Why are they continuing to happen? In The Death of Corporate Reputation, Yale's Jonathan Macey reveals the real, non-intuitive reason, and offers a new path forward. For over a century law firms, investment banks, accounting firms, credit rating agencies and companies seeking regular access to U.S. capital markets made large investments in their reputations. They treated customers well and sometimes endured losses in transactions or business deals in order to sustain and nurture their reputations as faithful brokers and “gate-keepers.” This has changed completely . The existing business model among leading participants in today’s capital markets no longer treats customers as valued clients whose trust must be earned and nurtured, but as one-off “counter-parties” to whom no duties are owed and no loyalty is required . The rough and tumble norms of the market-place have replaced the long-standing reputational model in U.S. finance. This book describes the transformation in American finance from the old reputational model to the existing laissez faire model and argues that the change came as a result of three factors: (1) the growth of reliance on regulation rather than reputation as the primary mechanism for protecting customers and (2) the increasing complexity of regulation, which made technical expertise rather than reputation the primary criterion on which customers choose who to do business with in today’s markets; and (3) the rise of the “cult of personality” on Wall Street, which has led to a secular demise in the relevance of companies’ reputations and the concomitant rise of individual “rain-makers” reputation as the basis for premium pricing of financial services. This compelling book will drive the debate about the financial crisis and financial regulation for years to come -- both inside and outside the industry.

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 South Africa Pushed to the Limit written by Hein Marais and published by Bloomsbury Publishing. This book was released on 2011-01-13 with total page 578 pages. Available in PDF, EPUB and Kindle. Book excerpt: Since 1994, the democratic government in South Africa has worked hard at improving the lives of the black majority, yet close to half the population lives in poverty, jobs are scarce, and the country is more unequal than ever. For millions, the colour of people's skin still decides their destiny. In his wide-ranging, incisive and provocative analysis, Hein Marais shows that although the legacies of apartheid and colonialism weigh heavy, many of the strategic choices made since the early 1990s have compounded those handicaps. Marais explains why those choices were made, where they went awry, and why South Africa's vaunted formations of the left -- old and new -- have failed to prevent or alter them. From the real reasons behind President Jacob Zuma's rise and the purging of his predecessor, Thabo Mbeki, to a devastating critique of the country's continuing AIDS crisis, its economic path and its approach to the rights and entitlements of citizens, South Africa Pushed to the Limit presents a riveting benchmark analysis of the incomplete journey beyond apartheid.

Download or read book Ask a Manager written by Alison Green and published by Ballantine Books. This book was released on 2018-05-01 with total page 306 pages. Available in PDF, EPUB and Kindle. Book excerpt: From the creator of the popular website Ask a Manager and New York’s work-advice columnist comes a witty, practical guide to 200 difficult professional conversations—featuring all-new advice! There’s a reason Alison Green has been called “the Dear Abby of the work world.” Ten years as a workplace-advice columnist have taught her that people avoid awkward conversations in the office because they simply don’t know what to say. Thankfully, Green does—and in this incredibly helpful book, she tackles the tough discussions you may need to have during your career. You’ll learn what to say when • coworkers push their work on you—then take credit for it • you accidentally trash-talk someone in an email then hit “reply all” • you’re being micromanaged—or not being managed at all • you catch a colleague in a lie • your boss seems unhappy with your work • your cubemate’s loud speakerphone is making you homicidal • you got drunk at the holiday party Praise for Ask a Manager “A must-read for anyone who works . . . [Alison Green’s] advice boils down to the idea that you should be professional (even when others are not) and that communicating in a straightforward manner with candor and kindness will get you far, no matter where you work.”—Booklist (starred review) “The author’s friendly, warm, no-nonsense writing is a pleasure to read, and her advice can be widely applied to relationships in all areas of readers’ lives. Ideal for anyone new to the job market or new to management, or anyone hoping to improve their work experience.”—Library Journal (starred review) “I am a huge fan of Alison Green’s Ask a Manager column. This book is even better. It teaches us how to deal with many of the most vexing big and little problems in our workplaces—and to do so with grace, confidence, and a sense of humor.”—Robert Sutton, Stanford professor and author of The No Asshole Rule and The Asshole Survival Guide “Ask a Manager is the ultimate playbook for navigating the traditional workforce in a diplomatic but firm way.”—Erin Lowry, author of Broke Millennial: Stop Scraping By and Get Your Financial Life Together