Accounting Commons^™

Revised Aicpacode Of Professional Conduct: Analyzing The Ethical Responsibilities For Members In Public Practice And Members In Industry, Steven Mintz

Steven Mintz

On June 1, 2014, the AICPA issued a codification of the principles, rules, interpretations, and rulings in the AICPA Code of Professional Conduct that specify which ethics provisions apply to members in public practice, members in business, and other members. A major improvement of the revised code is the creation of three sections for members in different areas of practice, to assist accounting professionals in each group to determine whether they are in violation of any of provision of the revised code. This paper explains those provisions as they apply to different members of the Institute.

Wink, Wink, Nudge Judge: Persuading U.S. Courts To Take Accountants Seriously In Federal Securities Cases, With Help From The U.K. Companies Act, Kurt S. Schulzke

Faculty Articles

The 2008 collapse of Lehman Brothers reopened wounds many thought were healed by the Sarbanes-Oxley Act (SOX) in 2002. The Lehman litigation finally ended in late 2013 with audit firm Ernst & Young paying $99 million to investors who claimed the firm misled them with generally accepted accounting principles (GAAP). Other defendants, including banks, officers, and directors, paid out more than $500 million. The bright line standards of GAAP and SOX were obviously not enough to protect Lehman plaintiffs or defendants. Why not? The 2006 fraud trial of Enron CEO Jeffrey Skilling offers clues. When asked at trial whether U.S. …

Comment Letters On Proposed Changes To The Aicpa Standards For Performing And Reporting On Peer Reviews: Preparation Of Financial Statements Performed Under Ssars And The Impact On Enrollment In And The Scope Of Peer Review, November 18, 2014, American Institute Of Certified Public Accountants. Peer Review Board

Exposure Drafts, Comment Letters, and Statements of Position

No abstract provided.

Comment Letters On Proposed Changes To The Aicpa Standards For Performing And Reporting On Peer Reviews, Peer Reviewer Performance, Disagreements And Qualifications, November 18, 2014, American Institute Of Certified Public Accountants. Peer Review Board

Exposure Drafts, Comment Letters, and Statements of Position

No abstract provided.

Proposed Changes To The Aicpa Standards For Performing And Reporting On Peer Reviews, Peer Reviewer Performance, Disagreements And Qualifications, November 18, 2014, Comments Are Requested By January 2, 2015; Exposure Draft (American Institute Of Certified Public Accountants), 2014 November 18, American Institute Of Certified Public Accountants. Peer Review Board

Exposure Drafts, Comment Letters, and Statements of Position

No abstract provided.

Educating The Auditors: Recommendations For Addressing General, Behavioral Competency Needs In Collegiate Accounting Programs, Charles T. Saunders

Learning Showcase 2014

The continuing evolution of the business world has a direct impact on the landscape and curriculum of higher education, where business professionals are trained. The needs of the business world influence not only what is taught (i.e., business curriculum content), but also how we, as educators, teach foundational skills and core competencies.

Recent research published by the Institute of Internal Auditors Research Foundation suggests that there is a discrepancy between stakeholders’ and auditors’ perceptions of internal auditor competency levels and value to the organization. The survey identified the following four competencies with the lowest ratings overall:

1. Conflict Resolution/Negotiation Skills;
2. Business …

Proposed Changes To The Aicpa Standards For Performing And Reporting On Peer Reviews: Preparation Of Financial Statements Performed Under Ssars And The Impact On Enrollment In And The Scope Of Peer Review, November 18, 2014, Comments Are Requested By January 2, 2015;Exposure Draft (American Institute Of Certified Public Accountants), 2014, November 14, American Institute Of Certified Public Accountants. Peer Review Board

Exposure Drafts, Comment Letters, and Statements of Position

No abstract provided.

Efforts And Challenges In Adopting International Financial Reporting Standards (Ifrs) In Nigeria, Yusuf Alkali Muhammad Mr, Nor Asma Lode Dr

Yusuf Alkali Muhammad

Financial reporting in emerging and developed economies has been a challenging debate, due to the frequent changes as well as updates on accounting rules and regulations. Nigeria being an emerging economy has witnessed a dramatic change and improvement on the accounting reporting since after political development of the country in 1960. The establishment of Nigerian Security Exchange (NSE) in 1982 and establishment of Nigerian Accounting Standard Board (NASB) in 1984 by the Institute of Chartered Accounting of Nigeria (ICAN) were the pioneer legislations on the road map to financial reporting in Nigeria. Even though laws and regulations were also issued …

Auditor Switching For Opinion Shopping, And Subsequnt Audit Quality And Audit Fee: Evidence From Post-Sox Period, Jong-Hag Choi, Heesun Chung, Catherine Heyjung Sonu, Yoonseok Zang

Research Collection School Of Accountancy

Theory suggests that firms engage in opinion shopping to obtain better audit opinions. However, there is scarce evidence on the economic consequences of the opinion shopping behaviors. In this paper, we examine the effect of auditor switches for opinion shopping on audit quality and audit fees. Using 30,333 firm-year observations over the 2004-2012 period in the U.S., we first document evidence that firms switch their auditors in search for better audit opinions. Next, we find that the audit quality of clients that switch auditors for opinion shopping is significantly lower than that of clients that did not switch auditors or …

Raising The Bar 2: Challenges To Productivity Initiatives In The Finance And Accounting Function, Clarence Goh

Research Collection School Of Accountancy

Faced with a tightening labour supply, raising productivity has become an increasingly important issue for manybusinesses in Singapore. To understand how this impacts on the F&A functions of businesses, the Instituteof Singapore Chartered Accountants (ISCA) collaborated with Robert Half to survey over 550 senior financeexecutives in Singapore and also the region to understand the focus of F&A functions of businesses andcorporations regarding raising productivity and effectiveness. Our findings are presented in a series of three reportswith the following themes – (1) Trends in implementing productivity initiatives, (2) Challenges faced in implementingproductivity initiatives, and (3) Essential skills and training needed to …

Financial Engineering And The Arms Race Between Accounting Standard Setters And Preparers, Ronald Dye, Jonathan Glover, Shyam Sunder

Shyam Sunder

Edmonson County, Kentucky - Account Books (Mss 550), Manuscripts & Folklife Archives

Manuscript Collection Finding Aids

Finding aid only for Manuscripts Collection 550. Account book for H.E. James & Co., a general store, at Johnson's Mill, Edmonson County, Kentucky, and S.T. Brooks, a general store in Brownsville, Edmonson County, Kentucky. Includes two loose items removed from the Brooks ledger.

The Implications Of Regional And National Demographic Projections For Future Gms Costs In Ireland Through To 2026, Aisling Conway Lenihan, Martin Keneally, Noel Woods, Andreas Thummel, Marie Ryan

Dept. of Management & Enterprise Publications

As the health services in Ireland have become more resource-constrained, pressure has increased to reduce public spending on community drug schemes such as General Medical Services (GMS) drug prescribing and to understand current and future trends in prescribing. The GMS scheme covers approximately 37% of the Irish population in 2011 and entitles them, inter alia, to free prescription drugs and appliances. This paper projects the effects of future changes in population, coverage, claims rates and average claims cost on GMS costs in Ireland.

Auditing Standards Board (Asb), October 21-23, 2014, Meeting Agenda, New York, Ny, American Institute Of Certified Public Accountants. Auditing Standards Board

Association Sections, Divisions, Boards, Teams

No abstract provided.

Auditing Standards Board (Asb) Meeting, October 21-23, 2014, New York, Ny; Highlights (Asb) Meeting, October 21-23, 2014, American Institute Of Certified Public Accountants. Auditing Standards Board

Association Sections, Divisions, Boards, Teams

No abstract provided.

Official Releases: Council Resolution Concerning The Form Of Organization And Name Rule" Set Out In Appendix B To The Aicpa Code Of Professional Conduct, American Institute Of Certified Public Accountants. Professional Ethics Executive Committee

Exposure Drafts, Comment Letters, and Statements of Position

Council voted on October 19, 2014 to approve changes to the "Council Resolution Concerning the Form of Organization and Name Rule" Set out in Appendix B to the AICPA Code of Professional Conduct.

Fall Meeting Of Council, October 19 - 21, 2014, Volume 2, The Westin Copley Place, 10 Huntington Avenue Boston, Ma 02116, American Institute Of Certified Public Accountants (Aicpa)

Association Sections, Divisions, Boards, Teams

No abstract provided.

A Bridge To Nowhere And Other Financial Issues, Annetta M. Gibson

Faculty Publications

PowerPoint presentation for the Lake Union Trust Services Seminar, October 19-22, 2014

Fall Meeting Of Council, October 19 - 21, 2014, Volume 1, The Westin Copley Place, 10 Huntington Avenue Boston, Ma 02116, American Institute Of Certified Public Accountants (Aicpa)

Association Sections, Divisions, Boards, Teams

No abstract provided.

Fall Meeting Of Council, October 19 - 21, 2014, Volume 2 With Index, The Westin Copley Place, 10 Huntington Avenue Boston, Ma 02116, American Institute Of Certified Public Accountants (Aicpa)

Association Sections, Divisions, Boards, Teams

No abstract provided.

Commitment To Corporate Social Responsibility Measured Through Global Reporting Initiative Reporting: Factors Affecting The Behavior Of Companies, Belen Fernandez-Feijoo, Silvia Romero, Silvia Ruiz

Department of Accounting and Finance Faculty Scholarship and Creative Works

The increasing importance of Corporate social responsibility to entrepreneurial policies has made it a leading topic in the literature. The strategic integration of Corporate social responsibility in the business core implies the communication between a company and its stakeholders. Sustainability reports are recognized worldwide as a tool that companies use to communicate their socially responsible behavior. The way companies communicate through their reports indicates their level of commitment to Corporate social responsibility. The objective of this paper is to analyze companies' behavior towards Corporate social responsibility based on their disclosure practices. We define four possible types of behavior: Novice, Cautious, …

An Empirical Investigation Of Voluntary Non-Ifrs Earnings Reporting During The Recent Financial Crisis : Australian Evidence, Elisabeth Sinnewe

Dr Elisabeth Sinnewe

This study examines how the financial crisis affected the reporting choice of and market reaction to earnings that are different from the profit firms report on their income statement under International Financial Reporting Standards (IFRS). These non-IFRS earnings reflect management’s subjective of view of earnings. By observing management’s reporting choices and investors’ reaction in Australia prior to, during, and after the financial crisis, this study shows a distinctive effect of the economic condition on reporting non-IFRS earnings. As such, this study contributes to the limited attention hypothesis suggesting that information-equivalent disclosure is perceived as value relevant by management and investors …

A Small Business Guide To Payroll, Denver Burke

Denver Burke

The responsibility of payroll is significant, so to help alleviate this, this article helps to reveal a variety of aspects to improve your options for a more efficient process.

Predicting Patients’ Use Of Provider-Delivered E-Health: The Role Of Facilitating Conditions, E. Vance Wilson, Nancy K. Lankton

Nancy K. Lankton

This chapter presents a new rational-objective (R-O) model of e-health use that accounts for effects of facilitating conditions as well as patients’ behavioral intention. An online questionnaire measured patients’ behavioral intention to use a new e-health application as well as proxy measures of facilitating conditions that assess prior use of and structural need for health services. A second questionnaire administered three months later collected patients’ self-reported use of e-health during the intervening period. The new model increased predictions of patients’ e-health use (measured in R2) by more than 300% over predictions based upon behavioral intention alone, and all measured factors …

Does The Adoption Of Ifrs Affect Corporate Social Disclosure In Annual Reports?, Joyce Van Der Van Der Laan Smith, Andrea L. Gouldman, Rasoul H. Tondkar

Accounting Faculty Publications

In this exploratory study we investigate the impact of the implementation of IFRS on corporate social disclosures (CSD) within the context of stakeholder theory. We measure the level of CSD in annual reports using a disclosure instrument based on the United Nations Conference on Trade and Development report “Guidance on Corporate Responsibility Indicators in Annual Reports”. We find that IFRS adoption had a differential effect on CSD based on a firm's institutional setting i.e., the stakeholder–management relationship prevalent in their institutional environment. Firms in the stakeholder countries did not have a significant change in the level of CSD following the …

Hands On Learning Of Automated Accounting Information Systems In The Cloud?, Mary Kay Copeland

Business Faculty/Staff Publications

No abstract provided.

Essays On Corporate Bank Loan Contracting, Leann G. Pashnyak

Open Access Dissertations

This dissertation is comprised of two essays on corporate bank loan contracting. The purpose of the first essay is to investigate the effect of loan's designated purpose on loan agreement contracting terms, as well as to examine whether lenders apply different standards to assess the value of borrower's corporate governance for each type of loan purpose. Using a large sample of private bank loans, the results indicate that both price and non-price loan terms vary significantly by loan purpose. Specifically, the spread yield varies by about 182 basis points (bps) for loans made for different purposes. Further, borrowers of operations …

The Impact Of Mergers And Acquisition Premiums On Financial Performance, Barbara M. Tarasovich

WCBT Faculty Publications

The purpose of this paper was to examine why so many M&A (Mergers and Acquisitions) continue to take place at steep premiums in spite of lower returns to shareholders. The pharmaceutical and biotechnology industries present a unique opportunity to investigate the financial impact on acquiring companies and of acquisition premiums. This paper empirically examines if post-merger financial performance is correlated to acquisition premiums. The paper analyzes M&A in the pharmaceutical and biotechnology industries with effective dates between January 1, 1998, and December 31, 2005 The analysis showed that acquisition premiums are positively related to long term under performance of the …

Academy Loses Past President, Life Member, Edward N. Coffman, Academy Of Accounting Historians

Accounting Historians Notebook

Edward “Ed” Coffman grew up in the small town of West Point, Virginia. After graduating from high school he worked at the local paper mill with other members of his family, including his father. When Coffman decided to attend college in 1962, he became the first in his family to do so.

Accounting Historians Notebook, 2014, Vol. 37, No. 2 (October) [Whole Issue]

Accounting Historians Notebook

October issue