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Full-Text Articles in Business
Corporate Disclosure Of The Decision To Change The Fiscal Year-End, Thomas Porter, Edward Swanson, Michael Wilkins, Lori Holder-Webb
Corporate Disclosure Of The Decision To Change The Fiscal Year-End, Thomas Porter, Edward Swanson, Michael Wilkins, Lori Holder-Webb
Michael S Wilkins
This paper investigates whether registrants comply with SEC rules designed to provide timely notification and transparent disclosure of the effects of a change in fiscal year-end. For a sample of 79 firms, the Form 8-K announcement of the change was filed late 25% of the time and no announcement was available for an additional 14% of the firms. In the subsequent Form 10-K, roughly half of the firms did not report operating results for both the transition period and a comparative period from the prior year, as required by the SEC. The rate of non-compliance was higher for firms audited …
Evidence On The Audit Risk Model: Do Auditors Increase Audit Fees In The Presence Of Internal Control Deficiencies?, Chris Hogan, Michael Wilkins
Evidence On The Audit Risk Model: Do Auditors Increase Audit Fees In The Presence Of Internal Control Deficiencies?, Chris Hogan, Michael Wilkins
Michael S Wilkins
The article discusses the study of determining whether audit risk model is descriptive of what occurs in the auditing practice or if the relationship between fees and internal control deficiencies (ICDs) suggest that audit enterprises exert more effort in auditing firms that impart ICDs. The study examines the internal controls over financial reporting (ICOFR), generally accepted accounting principles (GAAP), audit risk model, audit fees and sections of Sarbanes-Oxley Act. The study found out that audit fees are significantly higher for firms disclosing material weakness.