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Decision Framing And Efficiency/Effectiveness Trade-Offs In Auditors' Planning Materiality Judgments, Sridhar Ramamoorti

Accounting Faculty Publications

The exercise of judgment is not only essential to the practice of disciplines such as law, medicine and accounting, but is also what distinguishes these domains as professions (Boritz, Gaber & Lemon, 1987, cited in Gibbins & Mason, 1988). Recent advances in cognitive psychology research have given an impetus to research focusing on the nature of professional judgment, expert-novice cognition, heuristics and biases in decision making as well as decision strategies, the acquisition of knowledge and the effects of experience, and the development of expert/decision support systems (Ashton, 1982a; Smith & Kida, 1991; Chi, Glaser & Farr, 1988). The central …