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The Association Between Internal Control Material Weakness And Real Earnings Manipulation
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Book Synopsis The Association Between Internal Control Material Weakness and Real Earnings Manipulation by : Isaac Bonaparte
Download or read book The Association Between Internal Control Material Weakness and Real Earnings Manipulation written by Isaac Bonaparte and published by . This book was released on 2013 with total page 172 pages. Available in PDF, EPUB and Kindle. Book excerpt: This study examines the association between internal control material weakness under Section 404 of the Sarbanes-Oxley Act of 2002 and real earnings manipulation. The results indicate that manufacturing firms reporting material weaknesses in internal control grant excessive price discounts to temporarily increase sales. They also overproduce to reduce the cost of goods sold, and reduce their discretionary expenses to enhance reported earnings. Another result that emerges from this study is that manufacturing firms in litigious industries are less likely to engage in real earnings manipulation. Segregating the sample into remediating and non-remediating firms, the results suggest that real earnings manipulation significantly attenuates when firms remediate their internal control material weaknesses. Furthermore, there is no significant difference in real earnings manipulation between firms with contained internal control material weaknesses and those with pervasive internal control material weaknesses.-- Abstract.
Book Synopsis Earnings Management and Return-Earnings Association of Firms Reporting Material Internal Control Weaknesses Under Section 404 of the Sarbanes-Oxley Act by : Kam C. Chan
Download or read book Earnings Management and Return-Earnings Association of Firms Reporting Material Internal Control Weaknesses Under Section 404 of the Sarbanes-Oxley Act written by Kam C. Chan and published by . This book was released on 2008 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: The main objectives of the Sarbanes-Oxley Act of 2002 are to improve the accuracy and reliability of corporate disclosure. Under Section 404 of SOX, an auditor has to report an assessment of a firm's internal controls and attest to management's assessment of the firm's internal control. Material weaknesses of internal controls must be disclosed in auditor and management reports. The objectives of this study are to examine if firms reporting material internal control weaknesses under Section 404 have more earnings management and lower return-earnings associations compared to other firms. The results provide mild evidence that there are more positive and absolute discretionary accruals for firms reporting material internal control weaknesses than for other firms. The findings also provide mild evidence that firms reporting material internal control weaknesses have lower return-earnings associations than other firms.
Book Synopsis Parables, Myths and Risks by : Cheryl R. Lehman
Download or read book Parables, Myths and Risks written by Cheryl R. Lehman and published by Emerald Group Publishing. This book was released on 2017-07-27 with total page 232 pages. Available in PDF, EPUB and Kindle. Book excerpt: Continuing the search for greater reflectivity regarding accounting’s role in society, this volume identifies the many ways accounting contributes to knowledge creation and the consequences in socio-economic realms.
Download or read book Internal Control written by Olof Arwinge and published by Springer Science & Business Media. This book was released on 2012-11-07 with total page 205 pages. Available in PDF, EPUB and Kindle. Book excerpt: The concept of internal control has developed along with audit practice. As demands have been made for greater accountability in corporate governance, the significance of internal control systems in companies has increased. Traditionally internal control has had a fairly direct relationship to financial reporting quality but wider approaches to internal control have expanded those boundaries much further. Stakeholders are increasingly concerned with the effectiveness of internal controls, and disclosure requirements are making firms to go public with regard to their internal control systems. From a design perspective, current research suggests that internal control designs are contingent upon variables such as company strategies, risk appetite, regulatory characteristics, and organizational size. Also there is much to learn about internal control quality, and the way internal control quality is associated with overall corporate governance quality. This book fills that gap.
Book Synopsis Internal Control Strategies by : Julie Harrer
Download or read book Internal Control Strategies written by Julie Harrer and published by John Wiley & Sons. This book was released on 2008-09-02 with total page 323 pages. Available in PDF, EPUB and Kindle. Book excerpt: Praise for Internal Control Strategies A Mid to Small Business Guide "Internal Control Strategies is an excellent field guide for the implementation and maintenance of efficient and effective internal control systems. The book provides a practical approach to interpreting guidance from oversight agencies and integrating it with industry practice in a real-world environment. This handbook is an essential tool for managers and professionals going through the day-to-day struggle of managing auditor expectations and permitting business to proceed in the most efficient manner." -Michael Rodriguez, former senior manager of finance, Qualcomm Incorporated "Internal Control Strategies is the clearest path forward for middle-market SEC registrants and their independent registered public accounting firms as they streamline the SOX 404 compliance process in 2008 and beyond." -Stephen G. Austin, MBA, CPA, Managing Firm Partner,Swenson Advisors, LLP, Regional PCAOB Accounting Firm "Clearly written and practical, Internal Control Strategies is a must-read for every chief audit, finance, or compliance executive." -Jeff Miller, Partner-in-Charge, Business Risk Services,Squar, Milner, Peterson, Miranda & Williamson, LLP "As a CFO of small to mid-sized publicly traded and privately held companies, one is usually faced with the challenge of developing and implementing the right levels of internal controls and compliance within the restrictions of limited financial and human resources. Internal Control Strategies presents the relevant topics in a clear and concise manner, allowing the reader to understand the internal control framework and specific underlying requirements quickly. The author's vast experience with SOX compliance ensures a targeted and pragmatic approach for the successful implementation of internal controls. Her recommendations are 'to the point' and eliminate some of the guesswork we all have experienced while working towards SOX compliance." -Robert S. Stefanovich, Chief Financial Officer, Novalar Pharmaceuticals, Inc. The SEC requires all publicly traded companies to attest to theeffectiveness of their internal controls. Is your business ready? Internal Control Strategies: A Mid to Small Business Guide clearly explains the latest PCAOB, SEC, and COSO guidance, providing you with an effective tool and reference guide for successful implementation of sections 302 and 404 of the Sarbanes-Oxley Act. Extremely knowledgeable and insightful, author Julie Harrer brings practical clarity to this complex topic, leading you step by step in addressing the challenges associated in bringing your business in compliance with SOX.
Book Synopsis Disclosures of Material Internal Controls Weakness and Earnings Management by : 呂雅莉
Download or read book Disclosures of Material Internal Controls Weakness and Earnings Management written by 呂雅莉 and published by . This book was released on 2009 with total page 126 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Internal Control Weaknesses and Financial Reporting Fraud by : Dain C. Donelson
Download or read book Internal Control Weaknesses and Financial Reporting Fraud written by Dain C. Donelson and published by . This book was released on 2016 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: This study examines whether and how weak internal controls increase the risk of financial reporting fraud by top managers. There is a longstanding debate on whether control strength significantly affects fraud risk, yet little evidence on this issue. Further, there is no evidence on the mechanism linking control strength to fraud risk. We find a strong association between material weaknesses and future fraud revelation. We theorize this link could be attributable to weak controls a) giving managers greater opportunity to commit fraud or b) signaling a management characteristic that does not emphasize reporting quality and integrity. We find support for the opportunity explanation, but not through specific accounts linked to control weaknesses. Instead, consistent with the PCAOB's assertion, weaknesses in entity-wide controls, not process-level controls, are associated with a higher risk of reporting fraud.
Book Synopsis How to Comply with Sarbanes-Oxley Section 404 by : Michael J. Ramos
Download or read book How to Comply with Sarbanes-Oxley Section 404 written by Michael J. Ramos and published by Wiley. This book was released on 2004-03-12 with total page 304 pages. Available in PDF, EPUB and Kindle. Book excerpt: Designed specifically for Sarbanes-Oxley Section 404 compliance, How to Comply with Sarbanes-Oxley Section 404 features: A step-by-step approach to engagement performance Original material from a leading expert in auditing and accounting Practice aids, including forms, checklists, illustrations, diagrams, and tables In-depth explanations to help professionals understand how best to approach the internal control engagement Examples and action plans providing blueprints for implementing requirements of the Act Order your copy today!
Author :Charles R. Lundelius Publisher :American Institute of Certified Public Accountants (AICPA) ISBN 13 : Total Pages :324 pages Book Rating :4.4/5 (91 download)
Book Synopsis Financial Reporting Fraud by : Charles R. Lundelius
Download or read book Financial Reporting Fraud written by Charles R. Lundelius and published by American Institute of Certified Public Accountants (AICPA). This book was released on 2003 with total page 324 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Earnings Management by : Joshua Ronen
Download or read book Earnings Management written by Joshua Ronen and published by Springer Science & Business Media. This book was released on 2008-08-06 with total page 587 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book is a study of earnings management, aimed at scholars and professionals in accounting, finance, economics, and law. The authors address research questions including: Why are earnings so important that firms feel compelled to manipulate them? What set of circumstances will induce earnings management? How will the interaction among management, boards of directors, investors, employees, suppliers, customers and regulators affect earnings management? How to design empirical research addressing earnings management? What are the limitations and strengths of current empirical models?
Book Synopsis The Association Between Internal Control and Corporate Governance by : Xu Sun
Download or read book The Association Between Internal Control and Corporate Governance written by Xu Sun and published by . This book was released on 2014 with total page 192 pages. Available in PDF, EPUB and Kindle. Book excerpt: This thesis provides additional evidence on the association between internal control quality and corporate governance. The analyses are based on a sample of U.S. firms with internal control auditing reports from 2004 to 2012. My logistic regression analyses indicate that internal control quality is related to the characteristics of the audit committee, board of directors and CEO. First, I find that the independence of board directors is negatively related to internal control material weaknesses (ICMWs). Large firms tend to have large audit committees and boards of directors, and more female directors on the boards, and are negatively related to ICMWs. Second, I find that compared to Public Company Accounting Oversight Board Auditing Standard No. 2, Auditing Standard No. 5 has no impact on the relationship between internal control quality and the effectiveness of the audit committee and board of directors, except that the positive relationship between independence of audit committee members and ICMWs in the Auditing Standard No. 2 period disappears under Auditing Standard No. 5. Third, I find that companies where the CEO has high ownership or a large portion of cash and bonus compensation have a positive relationship with ICMWs, and that CEO duality and CEO age are negatively associated with ICMWs. However, I fail to find any evidence to support a relationship between corporate governance and the remediation of ICMWs.
Book Synopsis Internal Control and Warranty Reserves by : Yi-Chun Chen
Download or read book Internal Control and Warranty Reserves written by Yi-Chun Chen and published by . This book was released on 2013 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: Prior studies indicate that warranty reserves present two major aspects: a contingent liability and an information signal about growth prospects. In addition, managers use warranty accounting as a tool of earnings management to meet or beat earnings targets. In this paper, we hypothesize that Section 404 internal control weakness disclosures can help isolate information signal role of warranty reserves. The results reveal that warranty reserves serve as a stronger information signal for firms with an effective system than those with internal control weaknesses (ICW firms). Specifically, we first find that internal control weaknesses have an adverse effect on the relation between abnormal warranty accruals and future firm performance. Second, we find that investors give a more positive valuation of warranty reserves for firms with effective system than ICW firms. Finally, we find that the negative effect on information signal is more pronounced for material weaknesses related to sales/cost of goods sold and accrual estimation than others. Overall, these findings suggest that internal control report can be used to discriminate between information signal role and other roles served by warranty accruals.
Book Synopsis Auditors' Reactions to and Companies' Control of Classification Shifting by : Yinghong Zhang
Download or read book Auditors' Reactions to and Companies' Control of Classification Shifting written by Yinghong Zhang and published by . This book was released on 2010 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: Business Administration/Accounting
Book Synopsis Internal Control in Accounting Research by : Keryn Chalmers
Download or read book Internal Control in Accounting Research written by Keryn Chalmers and published by . This book was released on 2022 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: In 2001, the US moved to regulate internal control reporting by management and auditors. While some jurisdictions have followed the lead of the US, many others have not. An important question, therefore, is the relevance of internal control to stakeholders. The more specific issue of the benefits of US-style regulation of internal control reporting is also topical. We review studies on the determinants of internal control quality and its economic consequences for stakeholders including investors, creditors, managers, auditors and financial analysts. We extend previous reviews by focusing on US studies published since 2013 as well as all non-US studies investigating IC quality including countries regulating IC disclosure as well as unregulated settings and both developed and developing economies. In doing so, we identify research questions where evidence remains mixed and new directions in which there are research opportunities.Three main insights arise from our analysis. First, evidence on the economic consequences of internal control quality suggests that the quality of internal control can have a significant effect on decision making by users of financial information. Second, the results of research on the empirical association between ownership structure, certain board characteristics and internal control quality is generally mixed. Empirical evidence concerning the association between audit committee characteristics and internal control quality generally supports a positive and significant association. Finally, while studies in non-US jurisdictions are increasing, opportunities remain to explore the determinants and consequences of internal control in other jurisdictions. Our review provides evidence for policy makers of whether there are benefits from requiring management and auditors to report on internal control over financial reporting.
Author :United States Government Accountability Office Publisher :Lulu.com ISBN 13 :0359536395 Total Pages :234 pages Book Rating :4.3/5 (595 download)
Book Synopsis Government Auditing Standards - 2018 Revision by : United States Government Accountability Office
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.
Book Synopsis Parables, Myths and Risks by : Cheryl R. Lehman
Download or read book Parables, Myths and Risks written by Cheryl R. Lehman and published by Emerald Group Publishing. This book was released on 2017-07-27 with total page 232 pages. Available in PDF, EPUB and Kindle. Book excerpt: Continuing the search for greater reflectivity regarding accounting’s role in society, this volume identifies the many ways accounting contributes to knowledge creation and the consequences in socio-economic realms.
Book Synopsis Yellow Book: Government Auditing Standards by : Allison J. Harrell
Download or read book Yellow Book: Government Auditing Standards written by Allison J. Harrell and published by John Wiley & Sons. This book was released on 2018-04-09 with total page 180 pages. Available in PDF, EPUB and Kindle. Book excerpt: Do you perform engagements in accordance with generally accepted government auditing standards (GAGAS) as presented in the Yellow Book? This book provides an excellent baseline of information for accountants to better understand governmental auditing foundations, ethics, general audit standards, financial audit standards, attestation engagement standards, and fieldwork and reporting standards for performance audits. It is essential that all auditors planning and conducting audits in accordance with GAGAS understand and discern these concepts and standards in executing their responsibilities. In addition to a chapter covering the key points in a Uniform Guidance compliance audit, this book also includes content from AICPA Guide Government Auditing Standards and Single Audits related to a Uniform Guidance compliance audit, including appendixes for example auditor's reports and sampling guidance. This book will prepare you to do the following: Identify the types of engagements that are performed under Government Auditing Standards. Recognize Yellow Book requirements related to independence, peer review, and more. Identify the additional requirements for performing a financial audit under GAGAS. Recognize the additional GAGAS reporting requirements for financial audits. Recall the requirements for performing attestation engagements and performance audits under the Yellow Book.
