Business Commons^™

Remediation Of Material Weaknesses Related To Employee Compensation, Dana R. Hermanson, Daniel M. Ivancevich, Susan H. Ivancevich

Faculty Articles

The article presents an analysis of the remedial efforts of U.S. companies with material weaknesses in internal control related to employee compensation. Despite the passage of the Sarbanes-Oxley Act (SOX), public companies have continued to experience accounting and control issues related to employee compensation. The results indicate the role of the Public Company Accounting Oversight Board (PCAOB) and its committees in preventing and remediating material weaknesses concerning compensation.

Comment Letter To Fasb, Re: Fasb Staff Position (Fsp) 157-E, Determining Whether A Market Is Not Active And A Transaction Is Not Distressed., American Institute Of Certified Public Accountants. Private Companies Practice Section. Technical Issues Committee, Stephen Bodine

Exposure Drafts, Comment Letters, and Statements of Position

No abstract provided.

Comment Letter To Fasb, Re: March 17, 2009, Proposed Fasb Staff Position (Fsp) Fas 115-A, Fas 124-A, And Eitf 99-20-B, Recognition And Presentation Of Other-Than-Temporary Impairments., American Institute Of Certified Public Accountants. Private Companies Practice Section. Technical Issues Committee

Exposure Drafts, Comment Letters, and Statements of Position

No abstract provided.

Comment Letter On Fasb's Proposed Staff Positions (1) Fsp Fas 115-A, Fas 124-A, And Eitf 99-20-B, Recognition And Presentation Of Other-Than-Temporary Impairments, And (2) Fsp Fas 157-E, Determining Whether A Market Is Not Active And A Transaction Is Not Distressed., American Institute Of Certified Public Accountants. Accounting Standards Executive Committee, Jay D. Hanson

Exposure Drafts, Comment Letters, and Statements of Position

No abstract provided.

The Rationale For Mergers & Acquisitions In The U.S. Wireless Industry, Eric Pereira

Honors College Theses

The mergers between AT&T and Cingular, Sprint and Nextel, and Verizon and Alltel telecommunication companies have become the most fascinating transactions in the wireless industry. This paper provides a detailed summary of the two companies in each merger as separate entities before the merger, the actions they took while completing the merger, and the new look and strategies they put into place after the merger. The thesis provides a thorough view of how AT&T, Sprint Nextel, and Verizon successfully completed their merger plans and how they gained nationwide consumer satisfaction. The reader will examine the problems within the companies such …

Sending Talent Instead Of Money, Emily C. Plauche’

Honors Capstones

No abstract provided.

An Analysis Of Society’S Reaction To Whistleblowing From The 1920s – 1990s, Rachel Elizabeth Scott

Honors Capstones

No abstract provided.

Applying Sarbanes-Oxley Principles To Colleges And Universities, Sean L. Goins, Don E. Giacomino, Michael D. Akers

Accounting Faculty Research and Publications

In the wake of the financial scandals that have occurred in the corporate sector, the public is demanding more accountability not only from corporations but also from nonprofit organizations such as universities. Institutions can enhance corporate governance by implementing some of the principles and procedures the Sarbanes-Oxley Act of 2002 (SOX) have mandated for public companies. Because public accounting firms audit universities, the firms can provide a valuable service to such clients by recommending ways in which universities can implement SOX practices that are appropriate and applicable. Although SOX does not currently apply to colleges and universities, it has created …

Generally Accepted Privacy Principles, Cpa/Ca Practitioner Version, March 13, 2009, Comments Are Requested By June 1, 2009; Exposure Draft (American Institute Of Certified Public Accountants), 2009, March 13, Aicpa/Cica Privacy Task Force

Exposure Drafts, Comment Letters, and Statements of Position

No abstract provided.

The Regulatory Response To Madoff, Anita Krug

All Faculty Scholarship

This white paper evaluates investor protection mechanisms in the securities regulatory regime at the time the Madoff fraud was exposed. It considers whether the post-Madoff call for additional regulation of hedge funds and/or their managers - and/or their respective activities - was warranted.

Cpa Client Bulletin, March 2009, American Institute Of Certified Public Accountants (Aicpa)

Newsletters

No abstract provided.

Reduced Income Can Translate Into Larger Tax Deductions And Credits, James Trebby

Accounting Faculty Research and Publications

No abstract provided.

The Impact Of The Options Backdating Scandal On Shareholders, Gennaro Bernile, Gregg Jarrell

Research Collection Lee Kong Chian School Of Business

The revelation that scores of firms engaged in the illegal manipulation of stock options’ grant dates (i.e. “backdating”) captured much public attention. The evidence indicates that the consequences stemming from management misconduct and misrepresentation are of first-order importance in this context as shareholders of firms accused of backdating experience large negative, statistically significant abnormal returns. Furthermore, shareholders’ losses are directly related to firms’ likely culpability and the magnitude of the resulting restatements, despite the limited cash flow implications. And, tellingly, the losses are attenuated when tainted management of less successful firms is more likely to be replaced and relatively many …

Cue Usage In Financial Statement Fraud Risk Assessments: Effects Of Technical Knowledge And Decision Aid Use, Jean Lin Seow

Research Collection School Of Accountancy

This paper investigates the effects of technical knowledge and decision aid use on financial statement fraud risk assessments made by directors and students. More extreme fraud risk assessments are made when participants identify and process larger (smaller) numbers of diagnostic (non-diagnostic) factors, with technical knowledge driving diagnostic factor identification. Significant decision aid-technical knowledge effects are also found; decision aid use has a detrimental effect on high-knowledge directors while improving performance in inexperienced, low-knowledge students. These results suggest that although decision aids can afford gains in performance in inexperienced users, they can have unintended and/or paradoxical behavioural effects on experienced users.

Proposed Trust Services Principles, Criteria, And Illustrations, February 23, 2009, Commented Are Requested By April 8, 2009; Exposure Draft (American Institute Of Certified Public Accountants), 2009, February 23, American Institute Of Certified Public Accountants. Assurance Services Executive Committee

Exposure Drafts, Comment Letters, and Statements of Position

No abstract provided.

Comment Letters On Proposed Statement On Auditing Standards, Audit Sampling (Redrafted), February 23, 2009, American Institute Of Certified Public Accountants. Auditing Standards Board

Exposure Drafts, Comment Letters, and Statements of Position

No abstract provided.

Proposed Statement On Auditing Standards, Audit Sampling (Redrafted), February 23, 2009, Comments Are Requested By May 29, 2009; Exposure Draft (American Institute Of Certified Public Accountants), 2009, February 23, American Institute Of Certified Public Accountants. Auditing Standards Board

Exposure Drafts, Comment Letters, and Statements of Position

No abstract provided.

Proposed Statement On Auditing Standards, Initial Audit Engagements, Including Reaudits—Opening Balances, February 9, 2009, Comments Are Requested By May 29, 2009; Exposure Draft (American Institute Of Certified Public Accountants), 2009, February 9, American Institute Of Certified Public Accountants. Auditing Standards Board

Exposure Drafts, Comment Letters, and Statements of Position

No abstract provided.

Comment Letters On Proposed Statement On Auditing Standards, Initial Audit Engagements, Including Reaudits—Opening Balances, February 9, 2009, American Institute Of Certified Public Accountants. Auditing Standards Board

Exposure Drafts, Comment Letters, and Statements of Position

No abstract provided.

Effects Of Auditor Type And Evidence Domain Type On The Influence Of Irrelevant Internal Control Evidence And The Potential For Audit Failure, Daniel Selby

Bookshelf

Internal control systems consist of two evidence domains, automated control evidence and manual process evidence. Auditors can possess knowledge and expertise in both internal control evidence domains. But, auditors tend to possess more knowledge and expertise in one internal control evidence domain than the other internal control evidence domain. Thus, auditors have superior domain knowledge in one of the internal control evidence domains.

Auditors at large accounting firms tend to specialize in the evidence domain of automated controls (information technology auditors or IT auditors) or manual processes (financial auditors). Audit Standard 5 requires IT auditors and financial auditors to gain …

Illinois Wesleyan Students Receive Cpa Society Scholarships, Allegra Gallian ’09

News and Events (Discontinued Series)

No abstract provided.

Cpa Client Bulletin, February 2009, American Institute Of Certified Public Accountants (Aicpa)

Newsletters

No abstract provided.

Managing Information Technology Project Escalation And De-Escalation: An Approach-Avoidance Perspective, Gary Pan, Shan Ling Pan, Michael Newman

Research Collection School Of Accountancy

This paper presents an integrated theoretical process model for identifying , describing, and analyzing the complex escalation and de-escalation phenomena in software development projects. The approach-avoidance theory is used to integrate core elements of various escalation theories into a holistic, explanatory framework for the two phenomena. We use a process model to identify antecedent conditions, sequences of events, critical incidents, and outcomes over the course of a project. The analysis also operates at multiple levels: project, work, and environment. This highlights the recursive interactions between project, organizational work activities, and their contexts during the software project development process. By conceiving …

Evidence From The Pcaob's Second Inspections Of Small Firms, Dana R. Hermanson, Richard W. Houston

Faculty Articles

The article presents information on the rule of the Public Company Accounting Oversight Board (PCAOB) which mandates the inspection of smaller auditing firms in the U.S. The small firm inspections started in 2004, and the first round of inspections revealed a large number of audit deficiencies and quality control defects. It explores the purpose of the second inspections of small auditing and accounting firms. It discusses the possible structural changes in firms inspected twice.

Engaging Students In An Accounting Class, Karen Martinis, James A. Bailey

All Faculty Scholarship for the College of Business

Many different styles exist for teaching accounting. Throughout the years, the authors applied different teaching methodologies in their accounting courses. They found that engaging students in the classroom setting helps the students to stay on task and makes the classroom experience more meaningful. This paper describes processes the authors used to enable students to actively participate in the learning process during class time.

National Corporate Governance And Corruption Prevention, Soo Ping Lim

Research Collection School Of Accountancy

No abstract provided.

Proposed Statement On Auditing Standards, Consideration Of Laws And Regulations In An Audit Of Financial Statements, January 30, 2009, Comments Are Requested By May 29, 2009; Exposure Draft (American Institute Of Certified Public Accountants), 2009, January 30, American Institute Of Certified Public Accountants. Auditing Standards Board

Exposure Drafts, Comment Letters, and Statements of Position

No abstract provided.

Proposed Statements On Auditing Standards, Proposed Sas, Audit Evidence (Redrafted), Proposed Sas, Materiality In Planning And Performing An Audit (Redrafted), Proposed Sas, Evaluation Of Misstatements Identified During The Audit, Proposed Sas, Planning An Audit (Redrafted), Proposed Sas, Understanding The Entity And Its Environment And Assessing The Risks Of Material Misstatement (Redrafted), And Proposed Sas, Performing Audit Procedures In Response To Assessed Risks And Evaluating The Audit Evidence Obtained (Redrafted), January 30, 2009, Comments Are Requested By April 30, 2009; Exposure Draft (American Institute Of Certified Public Accountants), 2009, January 30, American Institute Of Certified Public Accountants, Auditing Standards Board

Exposure Drafts, Comment Letters, and Statements of Position

No abstract provided.

Comment Letters On Proposed Statements On Auditing Standards, Proposed Sas, Audit Evidence (Redrafted), Proposed Sas, Materiality In Planning And Performing An Audit (Redrafted), Proposed Sas, Evaluation Of Misstatements Identified During The Audit, Proposed Sas, Planning An Audit (Redrafted), Proposed Sas, Understanding The Entity And Its Environment And Assessing The Risks Of Material Misstatement (Redrafted), And Proposed Sas, Performing Audit Procedures In Response To Assessed Risks And Evaluating The Audit Evidence Obtained (Redrafted), January 30, 2009, Comments Are Requested By April 30, 2009; Exposure Draft (American Institute Of Certified Public Accountants), 2009, January 30, American Institute Of Certified Public Accountants, Auditing Standards Board

Exposure Drafts, Comment Letters, and Statements of Position

No abstract provided.

Comment Letters On Proposed Statement On Auditing Standards, Consideration Of Laws And Regulations In An Audit Of Financial Statements, January 30, 2009, American Institute Of Certified Public Accountants. Auditing Standards Board

Exposure Drafts, Comment Letters, and Statements of Position

No abstract provided.