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Author: Lawrence Abbott Publisher: ISBN: Category : Languages : en Pages : 0
Book Description
This study examines the purchase of non-audit services by SEC audit clients. Effective February 5, 2001, the SEC has required the disclosure and description of audit, non-audit and information technology fees paid to the incumbent auditor. The SEC enacted this rule due to concerns over auditor independence. Our study reviews these disclosed fees contained in the proxy statements of 265 firms since the effective date of the new SEC disclosure rules. The results indicate that the actual incidence and magnitude of non-audit fees is much greater than the information relied upon during the SEC rulemaking deliberations. Consequently, our study calls into question the data used during SEC rule-making process, as well as the clarity of the current audit and non-audit service distinctions. Our results also suggest that the non-audit service landscape has changed dramatically since the last period of publicly available audit fee data (1978-1981). Finally, our results indicate a need for additional research regarding the provision of non-audit services.
Author: Lawrence Abbott Publisher: ISBN: Category : Languages : en Pages : 0
Book Description
This study examines the purchase of non-audit services by SEC audit clients. Effective February 5, 2001, the SEC has required the disclosure and description of audit, non-audit and information technology fees paid to the incumbent auditor. The SEC enacted this rule due to concerns over auditor independence. Our study reviews these disclosed fees contained in the proxy statements of 265 firms since the effective date of the new SEC disclosure rules. The results indicate that the actual incidence and magnitude of non-audit fees is much greater than the information relied upon during the SEC rulemaking deliberations. Consequently, our study calls into question the data used during SEC rule-making process, as well as the clarity of the current audit and non-audit service distinctions. Our results also suggest that the non-audit service landscape has changed dramatically since the last period of publicly available audit fee data (1978-1981). Finally, our results indicate a need for additional research regarding the provision of non-audit services.
Author: Richard M. Frankel Publisher: Forgotten Books ISBN: 9780666794659 Category : Business & Economics Languages : en Pages : 94
Book Description
Excerpt from The Relation Between Auditors' Fees for Non-Audit Services and Earnings Quality This paper provides empirical evidence on the relation between non-audit services and earnings quality. We test hypotheses concerning: (1) the association between a firm's purchase of non-audit services from its auditor and earnings management, and (2) the stock price reaction to the disclosure of non-audit fees. In the past decade there has been a dramatic increase in the proportion of fee revenue auditors derive from non-audit services, yet we know little about how non-audit services are related to earnings quality.1 Concern about the effect of non-audit services on the financial reporting process was a primary motivation for the Securities and Exchange Commission (sec) to issue revised auditor independence rules on November 15, 2000. The rules require firms to disclose the amount of all audit and non-audit fees paid to its auditor. About the Publisher Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.
Author: Frankel Richard M Publisher: Legare Street Press ISBN: 9781019501573 Category : Languages : en Pages : 0
Book Description
This groundbreaking study explores the relationship between auditors' fees for non-audit services and the quality of earnings reported by companies. Using data from a large sample of publicly traded firms, the authors show that there is a strong correlation between the two variables, and suggest that this could be a cause for concern for investors and regulators. The authors also provide recommendations for improving the transparency and reliability of financial reporting. This book is essential reading for anyone interested in the intersection of accounting, auditing, and corporate governance. This work has been selected by scholars as being culturally important, and is part of the knowledge base of civilization as we know it. This work is in the "public domain in the United States of America, and possibly other nations. Within the United States, you may freely copy and distribute this work, as no entity (individual or corporate) has a copyright on the body of the work. Scholars believe, and we concur, that this work is important enough to be preserved, reproduced, and made generally available to the public. We appreciate your support of the preservation process, and thank you for being an important part of keeping this knowledge alive and relevant.
Author: Sandra Senft Publisher: CRC Press ISBN: 1420065548 Category : Computers Languages : en Pages : 804
Book Description
The headline-grabbing financial scandals of recent years have led to a great urgency regarding organizational governance and security. Information technology is the engine that runs modern organizations, and as such, it must be well-managed and controlled. Organizations and individuals are dependent on network environment technologies, increasing t
Author: J.L. Berg Publisher: Elsevier ISBN: 0444597220 Category : Computers Languages : en Pages : 507
Book Description
A number of important issues form the basis of this book: How can the Information Technology (IT) standardization process, leading to unified products which are needed on the market, be made more efficient? Which current IT standards are of high quality, what factors have led to that high quality, and can those factors be re-created for other IT standards? What improvements to the quality of IT standards are needed? Which organizations should be involved? What permanent changes in the IT standardization scene are necessary? At what point in the evolution of a technology is it appropriate to produce standards? Is strategic planning feasible in the current standardization approach? Diverse disciplines contributed to the findings in this book: computer scientists, standardization leaders and professionals, users and vendors, economists, auditors, software implementors, and communication specialists.
Author: Sandra Senft Publisher: CRC Press ISBN: 1439893209 Category : Computers Languages : en Pages : 779
Book Description
The new edition of a bestseller, Information Technology Control and Audit, Fourth Edition provides a comprehensive and up-to-date overview of IT governance, controls, auditing applications, systems development, and operations. Aligned to and supporting the Control Objectives for Information and Related Technology (COBIT), it examines emerging trends and defines recent advances in technology that impact IT controls and audits—including cloud computing, web-based applications, and server virtualization. Filled with exercises, review questions, section summaries, and references for further reading, this updated and revised edition promotes the mastery of the concepts and practical implementation of controls needed to manage information technology resources effectively well into the future. Illustrating the complete IT audit process, the text: Considers the legal environment and its impact on the IT field—including IT crime issues and protection against fraud Explains how to determine risk management objectives Covers IT project management and describes the auditor’s role in the process Examines advanced topics such as virtual infrastructure security, enterprise resource planning, web application risks and controls, and cloud and mobile computing security Includes review questions, multiple-choice questions with answers, exercises, and resources for further reading in each chapter This resource-rich text includes appendices with IT audit cases, professional standards, sample audit programs, bibliography of selected publications for IT auditors, and a glossary. It also considers IT auditor career development and planning and explains how to establish a career development plan. Mapping the requirements for information systems auditor certification, this text is an ideal resource for those preparing for the Certified Information Systems Auditor (CISA) and Certified in the Governance of Enterprise IT (CGEIT) exams. Instructor's guide and PowerPoint® slides available upon qualified course adoption.
Author: William Yeoh Publisher: European Alliance for Innovation ISBN: 163190423X Category : Computers Languages : en Pages : 260
Book Description
This book contains the proceedings of the 2nd International Conference on Financial Innovation, FinTech and Information Technology (FFIT 2023) held in Chongqing, China from July 7th to 9th, 2023. FFIT 2023 focuses on Economic statistics under big data, Financial risk control, Economic Modeling and Software Engineering, Accounting and Financial Information Systems, Innovative Supply Chain Financial Services and other fields. The aim of the conference is to provide a platform for experts, scholars, engineers, technicians and technical R&D personnel to share scientific research achievements and cutting-edge technologies, understand academic development trends, expand research ideas, strengthen academic research and discussion, and promote the industrialization cooperation of academic achievements. We hope that this conference will continue to be held in the coming years, making it an ideal platform for people to share views and experiences in financial innovation and economic development and related areas. We would also like to thank the invited speakers for their valuable contributions and for sharing their perspectives during their speeches.
Author: Cheng-Few Lee Publisher: Center for PBBEFR & Airiti Press ISBN: 9868518245 Category : Business & Economics Languages : en Pages : 304
Book Description
Advances in Quantitative Analysis of Finance and Accounting (New Series) is an annual publication designed to disseminate developments in the quantitative analysis of finance and accounting. The publication is a forum for statistical and quantitative analyses of issues in finance and accounting as well as applications of quantitative methods to problems in financial management, financial accounting, and business management. The objective is to promote interaction between academic research in finance and accounting and applied research in the financial community and the accounting profession. The papers in this volume cover a wide range of topics including corporate finance and debt management, earnings management, equity market, auditing, option pricing theory, and interest rate theory. In this volume there are eleven chapters, five of them are corporate finance and debt management: 1. Liquidity and Adverse Selection: Evidence from the Five-or-Fewer Rule Change; 2. Changing Business Environment and the Value of Relevance of Accounting Information; 3. Pricing Risky Securities in Hidden Markov-Modulated Poisson Processes; 4. An Empirical Assessment of Alternative Dividend Expectation Models; 5. Quantitative Market Risk Disclosure, Bond Default Risk and The Cost of Debt: Why Value At Risk? There are two of the other six chapters which cover interest rate theory: 1. Positive Interest Rates and Yields: Additional Serious Considerations; 2. Collapse of Dimensionality in the Interest Rate Term Structure. The remaining four chapters cover financial analysts earnings forecasts, equity market, auditing, and option pricing theory. These four papers are: 1. Investors’ Apparent Under-weighting of Financial Analysts’ Earnings Forecasts: The Role of Share Price Scaling and Omitted Risk Factors; 2. Predicting Stock Price by Applying the Residual Income Model and Bayesian Statistics; 3. Intertemporal Associations Between Non-Audit Services and Auditors’ Tendency to Allow Discretionary Accruals; 4. Put Option Portfolio Insurance vs. Asset Allocation.
Author: Richard M. Frankel Publisher: ISBN: Category : Auditing Languages : en Pages : 44
Book Description
We examine the association between the provision of non-audit services and earnings quality. Because of concerns regarding the effect of non-audit services on financial reporting credibility, the Securities and Exchange Commission recently issued revised auditor independence rules requiring firms to disclose in their annual proxy statement the amount of fees paid to auditors for audit and non-audit services. Using data collected from proxy statements filed between February 5, 2001 and June 15, 2001, we present evidence that firms purchasing more non-audit services from their auditor are more likely to just meet or beat analysts' forecasts and to report larger absolute discretionary accruals. However, the purchase of non-audit services is not associated with meeting other earnings benchmarks. We also find that the unexpected component of the non-audit to total fee ratio is negatively associated with stock returns on the filing date. These results are consistent with arguments that the provision of non-audit services strengthens an auditor's economic bond with the client and that investors price this effect. Keywords: Auditor independence; Auditor fees; Earnings management; Discretionary accruals. JEL Classification: G12, M41, M43, M49, L84.
Author: Lawrence Abbott
Author: Lawrence Abbott
Author: Richard M. Frankel
Author: United States. Securities and Exchange Commission
Author: Frankel Richard M
Author: Sandra Senft
Author: J.L. Berg
Author: Sandra Senft
Author: William Yeoh
Author: Cheng-Few Lee
Author: Richard M. Frankel