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Three Essays On The Structure Of Auditing Industry Auditor Liability And The Regulation Of Audit Quality
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Book Synopsis Three Essays on the Structure of Auditing Industry, Auditor Liability, and the Regulation of Audit Quality by : Masoud Yaharadeh
Download or read book Three Essays on the Structure of Auditing Industry, Auditor Liability, and the Regulation of Audit Quality written by Masoud Yaharadeh and published by . This book was released on 1992 with total page 124 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author :Ping Zhang Publisher :National Library of Canada = Bibliothèque nationale du Canada ISBN 13 : Total Pages :158 pages Book Rating :4.F/5 ( download)
Book Synopsis Three Essays on Auditor Independence and Auditor Liability by : Ping Zhang
Download or read book Three Essays on Auditor Independence and Auditor Liability written by Ping Zhang and published by National Library of Canada = Bibliothèque nationale du Canada. This book was released on 1999 with total page 158 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Three Essays On Auditor Liability by : Jeffrey Scott Pickerd
Download or read book Three Essays On Auditor Liability written by Jeffrey Scott Pickerd and published by . This book was released on 2016 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: Auditor liability is an important topic of accounting research as auditors respond to a constantly changing financial reporting and regulatory environment. Through three independent essays, I intend to explore how estimate uncertainty, financial statement aggregation, audit quality indicators, a company's investor base, and the size of the alleged misstatement can impact auditor liability both in the courtroom, as determined by jurors, and in out of court settlement, as determined by attorneys. I find that jurors do hold the auditor more likely to be negligent when audit quality indicators suggest the auditors did a poor quality audit. I also find that jurors hold auditors to be more negligent when both estimate uncertainty is low and the income statement is disaggregated. This juror finding is in contrast to lawyers where I find that high estimate uncertainty causes auditors' lawyers to believe that the auditors are more vulnerable for failing to detect a material misstatement and make more concessions in out-of-court settlement negotiation. Together, these studies have a number of important implications. First, the impact of high estimate uncertainty on auditor liability can go in opposite directions depending on whether the case disposition is determined by jurors or by lawyers negotiating settlement. Second, auditors' legal counsel may erroneously concede during settlement negotiations based on incorrect beliefs about their vulnerability to jurors. Third, while accounting research has focused on juror judgments to proxy for auditor litigation risk, auditors may face very different litigation risk in out-of-court settlement, where the vast majority of auditor liability is determined.
Book Synopsis Auditing, Trust and Governance by : Reiner Quick
Download or read book Auditing, Trust and Governance written by Reiner Quick and published by Routledge. This book was released on 2007-10-17 with total page 302 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this important new book, the European Auditing Research Network gives a timely appraisal of the regulatory environment for financial accounting and auditing in the wake of a series of high profile scandals involving major corporations.
Book Synopsis Audit Regulations, Audit Market Structure, and Financial Reporting Quality by : Christopher Bleibtreu
Download or read book Audit Regulations, Audit Market Structure, and Financial Reporting Quality written by Christopher Bleibtreu and published by . This book was released on 2021-11-24 with total page 200 pages. Available in PDF, EPUB and Kindle. Book excerpt: Audit Regulations, Audit Market Structure, and Financial Reporting Quality provides a structured overview of the empirical and analytical literature on the effects of audit market regulations. After a short introduction, the monograph is organized as follows. Chapter II addresses the structure of the audit markets of industrialized countries. First presenting an overview of the concentration metrics used to describe the structure of an audit market or a market segment, then providing the empirical findings on audit market concentration at the national level and presenting an overview of the main reasons that led to the currently high degree of concentration. Chapter III summarizes the reasons why regulators worldwide consider a high degree of concentration to be a concern. In particular, it reviews the regulator's assumption that a high degree of concentration inevitably leads to a low degree of competition and to the corresponding effects of low audit quality and high audit fees. It also provides an overview of the empirical findings on the association between concentration and audit quality and fees, respectively. Chapter IV introduces the mandatory audit firm rotation, the prohibition on the joint supply of audit and non-audit services, and joint audits as examples for regulations that are likely to have both incentive and market structure effects. Chapter V summarizes the empirical findings on the effects of these regulations on audit quality and market structure. Chapter VI summarizes models that regard the market structure as given. The results from these models show that the effects of regulations are not straightforward, but depend on various factors related to the auditor, the client, and the legal environment. Chapter VII gives an overview of analytical research that simultaneously considers incentive effects and market structure effects. It also provides a brief overview of industrial organization models that seem suitable to expand the models applied to investigate the effects of audit regulations. Chapter VIII concludes and highlights avenues for future research.
Book Synopsis The Irrational Auditor and Irrational Liability by : Adam C. Pritchard
Download or read book The Irrational Auditor and Irrational Liability written by Adam C. Pritchard and published by . This book was released on 2013 with total page 50 pages. Available in PDF, EPUB and Kindle. Book excerpt: This essay argues that less liability for auditors in certain areas might encourage more accurate and useful financial statements, or at least equally accurate statements at a lower cost. Audit quality is promoted by three incentives: reputation, regulation, and litigation. When we take reputation and regulation into account, exposing auditors to potentially massive liability may undermine the effectiveness of reputation and regulation, thereby diminishing integrity of audited financial statements. The relation of litigation to the other incentives that promote audit quality has become more important in light of the sea change that occurred in the regulation of the auditing profession with the adoption of the Sarbanes-Oxley Act. Given these fundamental changes in the regulatory backdrop, I argue that the marginal benefit of litigation has been substantially diminished and in many cases that it is likely to be ineffective in promoting greater audit quality. I propose a knowledge standard for auditor liability in securities fraud cases.
Book Synopsis Three Essays on Audit Regulation, Audit Market Structure, and the Quality of Financial Statements by : Benjamin Heß
Download or read book Three Essays on Audit Regulation, Audit Market Structure, and the Quality of Financial Statements written by Benjamin Heß and published by . This book was released on 2014 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Audit and Accounting Guide: Property and Liability Insurance Entities 2018 by : AICPA
Download or read book Audit and Accounting Guide: Property and Liability Insurance Entities 2018 written by AICPA and published by John Wiley & Sons. This book was released on 2018-12-19 with total page 685 pages. Available in PDF, EPUB and Kindle. Book excerpt: Get authoritative accounting and auditing guidance. Educate staff on the property and liability insurance industry, its products and regulatory issues, and the related transaction cycles an insurance entity is involved with. This guide contains updates on current GAAP and statutory accounting and audit guidance, as well as relevant guidance contained in standards issued through September 1, 2018 which have a major impact on insurance entities, including: FASB ASU No. 2016-01 and AICPA Q&A Section 7100.15: Insurance Companies and the Definition of Public Business Entity Revenue Recognition Implementation Issue: Considerations for Applying the Scope Exception in FASB ASC 606-10-15-2 and 606-10-15-4 to Contracts Within the Scope of FASB ASC 944
Author :American Institute of Certified Public Accountants. Insurance Companies Committee Publisher : ISBN 13 : Total Pages :244 pages Book Rating :4.X/5 (1 download)
Book Synopsis Audits of Property and Liability Insurance Companies by : American Institute of Certified Public Accountants. Insurance Companies Committee
Download or read book Audits of Property and Liability Insurance Companies written by American Institute of Certified Public Accountants. Insurance Companies Committee and published by . This book was released on 1990 with total page 244 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Dissertation Abstracts International by :
Download or read book Dissertation Abstracts International written by and published by . This book was released on 1995 with total page 500 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Essays on the Impact of Auditors' Liability on Audit Quality and Investment by : Rachel Schwartz
Download or read book Essays on the Impact of Auditors' Liability on Audit Quality and Investment written by Rachel Schwartz and published by . This book was released on 1994 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis United States and European Union Auditor Independence Regulation by : Christiane Strohm
Download or read book United States and European Union Auditor Independence Regulation written by Christiane Strohm and published by Springer Science & Business Media. This book was released on 2007-12-11 with total page 247 pages. Available in PDF, EPUB and Kindle. Book excerpt: Christiane Strohm investigates the effects of the Sarbanes-Oxley-Act and the revised 8th EU-Directive on auditing. She shows that there is a difference in the communication and safeguarding effects of a regulation, depending on the precision of its wording and that safeguarding effects also depend on auditors' monetary incentives and on perceived costs of litigation.
Book Synopsis Auditor Risk and Legal Liability by : Edgar Kent St. Pierre
Download or read book Auditor Risk and Legal Liability written by Edgar Kent St. Pierre and published by . This book was released on 1983 with total page 144 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis The Economics of Audit Quality by : Benito Arrunada
Download or read book The Economics of Audit Quality written by Benito Arrunada and published by Springer. This book was released on 2010-12-03 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book focuses on market mechanisms which protect quality in the provision of audit services. The role of public regulation is thus situated in the context defmed by the presence of these safeguard mechanisms. The book aims to contribute to a better understanding of these market mechanisms, which helps in defining the con tent of rules and the function of regulatory bodies in facilitating and strengthening the protective operation of the market. An analysis at a more general level is provided in the three chapters making up Part 1. In the four chapters of Part 2, on the other hand, this analysis is applied to a particular problem to determine how those non-audit services often provided by auditors to their audit clients should be regulated. Finally, Chapter 8 contains a summary of the analysis and conclusions of the work. The conclusion with regard to non-audit services is that their provision generates beneficial effects in terms of costs, technical competence, professional judgment and competition and, moreover, need not prejudice auditor independence or the quality of these services. This as sessment leads, in the normative sphere, to recommending a legislative policy aimed at facilitating the development and use of safeguards provided by the free action of market forces. Regulation should thus aim to enable the parties-audit firms, self-regulatory bodies and audit clients-to discover through competitive market interaction both the most efficient mix of services and the corresponding quality safeguards, adjusting for the costs and benefits of each possibility.
Book Synopsis Audit and Accounting Guide: Property and Liability Insurance Entities 2016 by : AICPA
Download or read book Audit and Accounting Guide: Property and Liability Insurance Entities 2016 written by AICPA and published by John Wiley & Sons. This book was released on 2018-02-21 with total page 640 pages. Available in PDF, EPUB and Kindle. Book excerpt: Considered the industry standard resource, this guide provides practical guidance, essential information and hands-on advice on the many aspects of accounting and authoritative auditing for employee benefit plans. This new 2016 edition is packed with information on new requirements -- including the simplification of disclosure requirements for investments in certain entities that calculate net asset value per share (or its equivalent), the simplification of disclosures for fully benefit-responsive investment contracts, plan investment disclosures, and measurement date practical expedient, and a new employee stock ownership plans chapter that includes both accounting and auditing.
Book Synopsis The Law of Negligence: Company Auditor by : Kelly Adam
Download or read book The Law of Negligence: Company Auditor written by Kelly Adam and published by GRIN Verlag. This book was released on 2014-02-10 with total page 13 pages. Available in PDF, EPUB and Kindle. Book excerpt: Document from the year 2013 in the subject Business economics - Revision, Auditing, , language: English, abstract: Auditors accumulate and evaluate information to be able to determine whether the financial reports of a given company complied with legislative requirements and established criteria. An auditor therefore determines the credibility of financial information so that the correct use of it in business and investment decisions can be made. Auditors have legal duties attached to their activities which they are expected to uphold. A breach of the legal duty which is imposed and fixed by law due to careless acts constitutes what is termed as negligence. This makes it to be based on conduct rather than any form of agreement. A tort of negligence therefore is only committed when actionable damage is sustained, and this is not only by carelessness but by inflicting damage carelessly in situations where the law recognizes a duty to be careful. Negligence is hence established if the conduct was careless and there existed a causal relationship between the damage and that conduct. A close look at it is a situation where the conduct was foreseeable to inflict the damage on person harmed. Negligence statements provided by company auditors can result to pure economic loss. Internal auditors check the accuracy of the financial information and provide an opinion whether the information is true and fair according to the accounting standards and common law. They are liable to external users of financial information since external users rely on audited statements to make investment decisions hence the need of the opinions to be unbiased and remain independent. Therefore, it is their legal duty to provide an assurance to all audited statements users that the material is not of fraud, its reliable and lacks irregularities. Conclusion by the auditor that the information is fairly stated as per the accounting standards makes them liable if they are found to have been materially misstated.
Book Synopsis Audit Market Regulation Around the World by : Ulf Mohrmann
Download or read book Audit Market Regulation Around the World written by Ulf Mohrmann and published by . This book was released on 2017 with total page 57 pages. Available in PDF, EPUB and Kindle. Book excerpt: The main objectives of recent audit market regulations are to (1) increase audit quality, (2) decrease audit market concentration, and (3) foster competition between audit firms. However, the empirical evidence on whether such regulations fulfill these goals is limited. We construct a unique database of the regulations in effect in the audit markets of 29 countries to explore the link between audit market regulation and the abovementioned objectives. The staggered implementation between 2002 and 2014 across the sample countries allows better identification of the role of audit market regulation than in single-country studies. We find that only one of the analyzed regulations, the restriction of auditor liability, is positively associated with all three goals. Mandatory auditor rotation, fee disclosures, and fee caps appear to be detrimental: The associations with two of the objectives are in the wrong direction, with no positive counterbalancing effect with regard to the third goal. Restricting non-audit services is associated with a lower degree of concentration within the group of market leaders and higher audit quality, but is negatively related to competition. The role of audit partner rotation and that of joint audits remain ambiguous. Our findings are helpful for regulators and academics and represent a necessary first step for a comprehensive cost-benefit analysis of audit market regulations.
