Download or read book Evidence from the U S on the Effect of Auditor Involvement in Assessing Internal Control over Financial Reporting written by Jean C. Bedard and published by . This book was released on 2012 with total page 34 pages. Available in PDF, EPUB and Kindle. Book excerpt: Securities regulators around the world are considering the costs and benefits of alternative policies for providing information to financial markets on corporate internal control. These policy options differ on the level of auditor involvement, among other dimensions. We examine the association of relative auditor involvement and auditor characteristics with Section 302 internal control disclosures made by US non-accelerated filers from 2003-2005. We find more material weaknesses disclosed in the fourth quarter, when there is relatively more auditor involvement, relative to the first three quarters. Clients of larger audit firms have higher disclosure rates (although they are likely less risky due to more stringent client acceptance standards), but this difference is due to fourth quarter disclosures. Audit firms with Section 404 experience also have greater material weakness disclosure, implying process improvement associated with knowledge sharing across engagements. Collectively, our results shed light on ways to increase the effectiveness of internal control regulation.
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 Internal Accounting Control Evaluation and Auditor Judgement written by Theodore J. Mock and published by Routledge. This book was released on 2013-10-11 with total page 294 pages. Available in PDF, EPUB and Kindle. Book excerpt: This anthology presents the results of a comprehensive empirical study of internal control evaluation and auditor judgment initiated by Peat, Marwick, Mitchell & Co. in 1977 and originally published as an American Institute of CPAs research monograph in 1981, which was awarded the American Accounting Association Wildman Award in 1982. This book contains an updated review of the professional literature related to internal control, multivariate analyses of the original statistics and analyses of the decision criteria used by the auditors.
Download or read book The Effect of Auditors Assessment of Internal Control Over Financial Reporting on Audit Fees Cost of Debt and Net Compliance Benefit written by Hongmei Jia and published by . This book was released on 2013 with total page 94 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Impact of the Sarbanes Oxley Act written by United States. Congress. House. Committee on Financial Services and published by . This book was released on 2005 with total page 152 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Role of the Accounting Profession in Preventing Another Financial Crisis written by United States. Congress. Senate. Committee on Banking, Housing, and Urban Affairs. Subcommittee on Securities, Insurance, and Investment and published by . This book was released on 2011 with total page 268 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book U S Master Auditing Guide Third Edition written by D. Larry Crumbley and published by CCH. This book was released on 2004-08 with total page 980 pages. Available in PDF, EPUB and Kindle. Book excerpt: The field of taxation of employee and executive compensation is complex, dynamic and ever-changing. CCH's U.S. Master Compensation Tax Guide unravels the complexity and explains in clear and concise language this critical area, providing practical and comprehensive guidance. The Guide covers the complicated compensation tax topic in a comprehensive yet practical, straightforward fashion that readers value and appreciate.
Download or read book Beyond Internal Control over Financial Reporting written by Daoguang Yang and published by Taylor & Francis. This book was released on 2024-02-06 with total page 194 pages. Available in PDF, EPUB and Kindle. Book excerpt: By examining two different modes of internal control and the fundamentals of risk management, this book analyses the role of internal control in financing, investment, profit distribution, and corporate strategies through China's experience. In doing so, it confirms the effectiveness and superiority of internal control over operation and management. The book compares the various internal control methods used in China and the USA, namely, operation and management-oriented versus financial reporting-oriented approaches. It also discusses the differences in corporate risk attitudes and behaviours under the two approaches. The author then proposes the hyper-correction hypothesis and the trimming hypothesis. Empirical findings regarding corporate cash policy, mergers and acquisitions, tax avoidance, and diversification strategy reveal that internal control in China does not result in undue risk aversion but instead manages enterprise risk within a reasonable capacity. These results support the trimming hypothesis and demonstrate that internal control is a useful risk management tool. The title will appeal to students, academics, and accounting professionals interested in internal control (risk management), accounting, auditing and corporate finance, regulation and governance.
Download or read book Standards for Internal Control in the Federal Government written by United States Government Accountability Office and published by Lulu.com. This book was released on 2019-03-24 with total page 88 pages. Available in PDF, EPUB and Kindle. Book excerpt: Policymakers and program managers are continually seeking ways to improve accountability in achieving an entity's mission. A key factor in improving accountability in achieving an entity's mission is to implement an effective internal control system. An effective internal control system helps an entity adapt to shifting environments, evolving demands, changing risks, and new priorities. As programs change and entities strive to improve operational processes and implement new technology, management continually evaluates its internal control system so that it is effective and updated when necessary. Section 3512 (c) and (d) of Title 31 of the United States Code (commonly known as the Federal Managers' Financial Integrity Act (FMFIA)) requires the Comptroller General to issue standards for internal control in the federal government.
Download or read book Financial Reporting Practices written by United States. Congress. House. Committee on Energy and Commerce. Subcommittee on Oversight and Investigations and published by . This book was released on 1988 with total page 368 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Effect of Prior Consulting Work on Internal Auditors Evaluations of Internal Controls written by Audrey A. Gramling and published by . This book was released on 2015 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt: We analyze internal auditor objectivity by examining whether consulting work performed by internal auditors influences their subsequent judgments. We conduct an experiment with experienced internal auditors. We present them with an internal control scenario representing an at-margin internal control deficiency (i.e., borderline between a significant deficiency and a material weakness) and ask participants how likely they are to conclude that the deficiency is a material weakness. We manipulate the extent of prior involvement with the internal control (consulted on the design of the control or no prior involvement) and the type of the control deficiency (deficiency in design effectiveness or operating effectiveness). Consistent with our predictions, we find some evidence that internal auditors who had prior involvement in consulting on the design of the control are less likely than others to conclude that the deficiency is a material weakness, but only when the deficiency being evaluated relates to the design effectiveness of the control. The results have important practical and regulatory implications. According to professional standards, consulting on the design of internal controls is not presumed to impair internal auditors' objectivity, yet we find a systematic influence on subsequent evaluations for purposes of reporting on internal control over financial reporting.
Download or read book Research in Accounting Regulation written by Gary Previts and published by Elsevier. This book was released on 2004-09-17 with total page 347 pages. Available in PDF, EPUB and Kindle. Book excerpt: The scope of service provided by professional accountants is influenced by legislation and case law as well as the dictates of a variety of government and private sector agencies: including State Boards of Accountancy, Academic Accreditation Bodies, the United States Securities and Exchange Commission, the Public Company Accounting Oversight Board, independent standard setting bodies such as the Federal Accounting Standards Advisory Board (US), the Financial Accounting Standards Board (US), the International Accounting Standards Board and self-regulatory organizations such as State Societies of CPA and the American Institute of Certified Public Accountants. There are equivalent and emerging local international bodies that exist in most developed countries. It is important for academics, students, practitioners, regulators and researchers to consider, study and understand the role and relationship of such bodies with the practice and content of our discipline.Research in Accounting Regulation is a refereed annual serial that seeks to publish high quality manuscripts, which address regulatory issues and policy affecting the practice of accountancy, broadly defined. Topics of interest include research based on: 1) Self-regulatory activities. 2) Case law and litigation. 3) Governmental and quasi-governmental regulation. 4) The economics of regulation, including modelling.This research series aims to encourage the submission of original empirical, behavioural or applied research manuscripts that consider strategic and policy implications for regulation, regulatory models and markets. It is intended for individual researchers, practitioners, regulators and students of accountancy who desire to increase their understanding of the regulation of accountancy.
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 Fair Value Measurements written by International Accounting Standards Board and published by . This book was released on 2006 with total page 104 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Pivotal Change in US Public Policy written by Murphy Smith and published by . This book was released on 2011 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Accounting regulation is one aspect of the government's role in protecting the investing public's interest. The Sarbanes-Oxley Act of 2002 (SOX) was an effort by the U.S. Congress to remedy negative effects of earlier major accounting failures. Requirements of SOX highlight the critical role of internal control as a component of accurate and reliable financial reporting. This new emphasis on effective internal controls places internal auditors of public companies at center stage. Internal audit departments are asked to identify, evaluate, and test the effectiveness of internal controls over financial reporting. This study examines the perceived role of the internal audit function in the external audit and financial reporting process. Results indicate that internal audit participation in the external audit process is perceived to be important by both internal and external auditors. Internal auditors are performing more work for the external auditors after the passage of SOX. Thus, implicitly, external auditors are placing greater reliance on the work of internal auditors.
Download or read book Industry Perspectives on Achieving Audit Readiness written by United States. Congress. House. Committee on Armed Services. Panel on Defense Financial Management and Auditability Reform and published by . This book was released on 2012 with total page 92 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Wiley CPA Exam Review 2011 Update written by Roger Philipp and published by John Wiley & Sons. This book was released on 2010-12-14 with total page 290 pages. Available in PDF, EPUB and Kindle. Book excerpt: The 2011 CPA exam demystified Wiley CPA Exam Review 2011 Update covers the changes to all four sections of the the 2011 CBT-e exam in a comprehensive, detailed manner, to help CPA candidates deal with the new exam?and pass on the first try. Covers the changes to all four sections of the 2011 CBT-e exam Equips CPA candidates with a firm grasp of the new content and test format Written by one of the country's most dynamic and successful CPA Prep providers?whose students boast an impressive pass rate of 86% on their first try Candidates are desperate for a book to tell them exactly what has changed on the new CPA exam, and what didn't. The answers are all here in Wiley CPA Exam Review 2011 Update.
