Open Journal of Accounting, 2013, 2, 8-15 http://dx.doi.org/10.4236/ojacct.2013.21003 Published Online January 2013 (http://www.scirp.org/journal/ojacct) Sarbanes-Oxley and the Accounting Profession: Public Interest Implications Sara Ann Reiter1, Paul F. Williams2 2 1 Binghamton University, Binghamton, USA North Carolina State University, Raleigh, USA Email: sreiter@binghamton.edu Received October 31, 2012; revised December 1, 2012; accepted December 12, 2012 ABSTRACT The US accounting
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Bank was a medium-sized, Midwestern financial institution and their management have a good reputation for backing successful deals. Since their profit was decrease, it has caused their management start to renegotiate many loans. Ben Hunt who is the audit partner on the Prairieland Bank was concern to give an opinion on the fairness of their business financial statement. This is because the provision for doubtful loans is too low even they have taken many loans. During the interview to discuss this
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Audit Report * The auditor's report is the primary means by which the auditor communicates to investors and other users of audited financial statements regarding its opinion on those statements. * discussed its standard-setting initiative on the auditor's reporting model, and outlined plans to conduct outreach to identify additional investor and user needs to present to the Board * The auditor is in a unique position to provide relevant and useful information, because of the auditor's
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INTERVIEWS Contents Interview No. 1 3 Interview No. 2 5 Interview No. 3 7 Interview No. 1 Name: Paul Erickson Position: Internal Auditor Company: American Eagle Outfitters, Inc. Job Description: * Improving and communicating new objectives to the staff at different levels. * Controlling and monitoring the working of numerous softwares like ERP, Microsoft excel etc. * Determining the potential risks and providing risk management framework. * Increasing
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Journal of Accounting and Economics 55 (2013) 66–90 Contents lists available at SciVerse ScienceDirect Journal of Accounting and Economics journal homepage: www.elsevier.com/locate/jae Towards an understanding of the role of standard setters in standard setting$ Abigail Allen, Karthik Ramanna n Harvard Business School, USA a r t i c l e in f o abstract Article history: Received 15 September 2010 Received in revised form 24 May 2012 Accepted 25 May 2012 Available online
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Assurance on sustainability reports: An International Comparison (1) Archival study ! global compustat I. Abstract Identify the factors associated with: Decision to voluntary purchase assurance The choice of the assurance provider A company needs to enhance credibility through assurance and choice of assurance provider will be a function of company, industry and country related factors. Findings: Companies seeking to enhance the credibility of their reports and build their corporate reputation are
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ISSUES IN ACCOUNTING EDUCATION Vol. 26, No. 3 2011 pp. 547–568 American Accounting Association DOI: 10.2308/iace-50004 Koss Corporation Case: Trouble in Brew City Brian Daugherty and Daniel G. Neely ABSTRACT: This instructional case provides auditing students an opportunity to examine an interesting real-life embezzlement and financial statement fraud occurring at a publicly traded company in the post-Sarbanes-Oxley (SOX) era. The case focuses on independent auditors’ and senior management’s
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FUNDAMENTALS OF AUDITING Audit Firm Contact Number JABATAN PERDAGANGAN Programme Section CHAPTER 1 CHAPTER 2 Email Materiality and Audit Risk Corporate Governance PROBLEM SOLVING CLO2 | LD2/P3 Instruction: Please answer ALL questions. | Part 1 NEW CLIENT ACCEPTANCE DECISION Learning Objectives After completing and discussing this case, you should be able to: 1. Understand the types of information relevant to evaluating a prospective audit client 2. List some of the
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Going Concern issues in financial reporting: a guide for companies and directors Published in 2009 by: Australian Institute of Company Directors (AICD) Level 2 255 George Street Sydney NSW 2000 Telephone: (+61 2) 8248 6600 Facsimile: (+61 2) 8248 6633 www.companydirectors.com.au publications@companydirectors.com.au Auditing and Assurance Standards Board (AUASB) Level 7 600 Bourke Street Melbourne VIC 3000 Telephone: (+61 3) 8080 7400 Facsimile: (+61 3) 8080 7450 enquiries@auasb
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outline of the changes and explanation on how the changes will impact our valued clients. As accountants, understanding the Statement of Auditing Standards (SAS) No. 112 and the superseding SAS No. 115 is extremely important as they may affect our audit results and findings. This internal memo is being distributed to all accountants in our office to provide information related to the new changes in standards and to show how the changes my affect you (AICPA, 2009). SAS No. 115 has replaced SAS No
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