Discussant\u27s response to The relative importance of auditing to the accounting profession: Is auditing a profit center?

https://egrove.olemiss.edu/dl_proceedings/1032/thumbnail.jp

Securities Class Actions and Bankrupt Companies

Securities class actions are often criticized as wasteful strike suits that target temporary fluctuations in the stock prices of otherwise healthy companies. The securities class actions brought by investors of Enron and WorldCom, companies that fell into bankruptcy in the wake of fraud, resulted in the recovery of billions of dollars in permanent shareholder losses and provide a powerful counterexample to this critique. An issuer\u27s bankruptcy may affect how judges and parties perceive securities class actions and their merits, yet little is known about the subset of cases where the company is bankrupt. This is the first extensive empirical study of securities class actions and bankrupt companies. It examines 1,466 securities class actions filed from 1996 to 2004, of which 234 (16 percent) involved companies that were in bankruptcy proceedings while the class action was pending. The study tests two hypotheses. First, securities class actions involving bankrupt companies ( bankruptcy cases ) are more likely to have actual merit than securities class actions involving companies not in bankruptcy ( nonbankruptcy cases ). Second, bankruptcy cases are more likely to be perceived as having merit than nonbankruptcy cases, regardless of their actual merit. The study finds stronger support for the second hypothesis than for the first, suggesting that judges and parties use bankruptcy as a heuristic for merit. Even when controlling for various indicia of merit, bankruptcy cases are more likely to be successful in terms of dismissal rates, significant settlements, and third-party settlements than nonbankruptcy cases. These results are evidence that judges use heuristics not only to dismiss cases but also to avoid dismissing cases. Securities class actions cannot be adequately understood without examining the subset of cases with a bankrupt issuer. The perception that securities class actions merely harass healthy companies should be revised in light of the significant number of bankruptcy cases in which shareholders have a greater need for a securities fraud remedy

Pesquisas em qualidade de auditoria : aspectos relevantes no estudo do tema

Trabalho de Conclusão de Curso (graduação)—Universidade de Brasília, Faculdade de Economia, Administração, Contabilidade e Gestão de Políticas Públicas, Departamento de Ciências Contábeis e Atuariais, 2018.Esta pesquisa tem por objetivo identificar os principais aspectos que devem ser observados na avaliação da qualidade dos trabalhos de asseguração financeira. Isso foi realizado através do levantamento bibliográfico e análise de estudos sobre o assunto, de maneira a descrever aspectos qualitativos quanto a consolidação dos elementos que contribuem para atender as expectativas dos usuários da informação, bem como o entendimento sobre as diferentes formas de se observar o grau de excelência dos serviços de auditoria. Para tal, a análise da pesquisa divide-se em proxies de qualidade (forma de mensuração de excelência) e fatores ensejadores de qualidade (fontes de satisfação e atendimento das expectativas). As principais medidas levantadas e que são utilizadas para evidenciar a qualidade da auditoria são: a ocorrência de gerenciamento de ganhos, lucros discricionários, concretização das previsões dos analistas, republicação das demonstrações financeiras, litígios judiciais contra auditores e propensão a emitir relatórios de continuidade. Identificou-se ainda que, como fatores ensejadores de qualidade, há a independência, o tamanho, a experiência e a certificação do auditor, assim como seu relacionamento com o cliente. Considerou-se que um universo de fatores interage para a construção da auditoria, os eventos não ocorrem de forma isolada e singular. Dessa forma, é interessante que a questão seja observada de forma ampla e conjunta, inter-relacionando todos os possíveis fatores de qualidade, para garantir maior robustez aos resultados

ASB meeting minutes, 2001, June 5-7;Auditing Standards Board approved highlights, 2001, June 5-7

https://egrove.olemiss.edu/aicpa_assoc/1108/thumbnail.jp

Auditor Malpractice: Identifying High-Risk Engagements by the Use of Multivariate Analysis

Auditor Malpractice: Identifying high-risk engagements by the use of multivariate analysi

ASB meeting minutes, 2001, December 12-13;Auditing Standards Board approved highlights, 2001, December 12-13, meeting

https://egrove.olemiss.edu/aicpa_assoc/1110/thumbnail.jp

Accounting Hall of Fame 2000 induction: Shaun F. O\u27Malley

For the induction of Shaun f. O\u27Malley: Remarks by Robert L. Brown, PricewaterhouseCoopers; Citation prepared by Daniel L. Jensen, The Ohio State University, read by Robert L. Brown, PricewaterhouseCoopers; Response by Shaun f. O\u27Malley, PricewaterhouseCooper

Management override of internal controls : the Achilles\u27 heel of fraud prevention : the audit committee and oversight of financial reporting

https://egrove.olemiss.edu/aicpa_assoc/1337/thumbnail.jp