The Role of the Auditor in Managing Public Disclosures: Audit Opinion Modifications for Potentially Misleading Information in Documents Containing Audited Financial Statements

We investigate empirically the incidence of auditor modification of audit reports for misleading information included in other documents containing audited financial statements. Professional standards (specifically, SAS No. 8) require modification of the auditor\u27s report for annual report information considered to be materially inconsistent in content or in manner of disclosure with information contained in the financial statements. Exhaustive data base key word searches for phrases that would be associated with such report modifications did not reveal a single instance in which other information accompanying audited financial statements was considered materially misleading since the implementation of SAS No. 8 (1975). Despite this finding, numerous examples from recent research identify what appear to be potentially misleading disclosures in annual reports. Using examples from these studies, we surveyed CPAs and financial statement users and found that that four of the five issues presented were seen as misleading. More authoritative guidance and/or more awareness on the part of auditors may be in order

Silicon Valley Meets Norwalk

The article discusses financial reporting issues raised by the U. S. corporations in the increasing use of the Internet. The Internet is affecting traditional statements and audits as companies explore online options. Financial information is now easily available online, creating a new readership. CPAs must consider how to help make this information useful to the expanded public. Companies need to identify who will use their sites and provide appropriate features. Search engines help users connect information from all over a given Web site. Analysts may want to download financials into spreadsheets

The Internet: Changing the Way Corporations Tell Their Story

Discusses the effect of technological changes in the dissemination of financial information. Potential of the Internet to change the way decision makers can use the information; Future of financial disclosure

Accounting Firm Internet Sites That Work (And Those That Do Not)

Gives advice to accounting firms in creating and maintaining an effective Internet site. Items commonly found on the accounting firm Internet sites; Suggestions in building an Internet site; Most important aspect of Internet site content

New genetic loci link adipose and insulin biology to body fat distribution.

Body fat distribution is a heritable trait and a well-established predictor of adverse metabolic outcomes, independent of overall adiposity. To increase our understanding of the genetic basis of body fat distribution and its molecular links to cardiometabolic traits, here we conduct genome-wide association meta-analyses of traits related to waist and hip circumferences in up to 224,459 individuals. We identify 49 loci (33 new) associated with waist-to-hip ratio adjusted for body mass index (BMI), and an additional 19 loci newly associated with related waist and hip circumference measures (P < 5 × 10(-8)). In total, 20 of the 49 waist-to-hip ratio adjusted for BMI loci show significant sexual dimorphism, 19 of which display a stronger effect in women. The identified loci were enriched for genes expressed in adipose tissue and for putative regulatory elements in adipocytes. Pathway analyses implicated adipogenesis, angiogenesis, transcriptional regulation and insulin resistance as processes affecting fat distribution, providing insight into potential pathophysiological mechanisms

ISE Auditing & Assurance Services

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Auditing &bAssurance Services

xxxi, 884 hlm.; 28 c

Auditing & assurance services

xv, 728 p. : ill. ; 28 cm