Accounting Commons^™

[Introduction To] Setting The Standard For The New Auditor's Report: An Analysis Of Attempts To Influence The Auditing Standards Board, Marshall A. Geiger

Bookshelf

This study addresses the lack of research on the process by which authoritative auditing standards are established by presenting a longitudinal study of the two-year development of SAS No 58, "Reports on Audited Financial Statements", by the Auditing Standards Board. The study catalogues and examines the perspectives and influences of virtually all parties involved in establishing the standard, including the comment letters, from the Financial Executives Institute, Treadway Commission, and the Securities and Exchange Commission. The result is an extensive identification and rigorous analysis of the issues surrounding audit reports, alternative solutions considered, and the rationale underlying the ultimate decisions. …

Bankers' Reactions To The New Standard Report And Consistency Reporting Requirements, Marshall A. Geiger

Accounting Faculty Publications

The auditor's report is the primary source of information for a bank loan officer concerned with the integrity of a potential client's financial statements. Recently, the auditing standards board of the American Institute of CPAs established new wording and reporting requirements in the standard report for companies that change accounting principles -- among other changes in reporting on audited financial statements. The ASB modified the long-lived standard report wording to which the U.S. financial community had grown accustomed.

One hundred and ninety-nine randomly selected bank loan officers from across the United States participated in a mail survey designed to assess …