{"title":"The Principal-Agent Dilemma: Reframing the Auditor's Role Using Stakeholder Theory","authors":"A. Schnader, J. Bedard, Nathan H. Cannon","doi":"10.2308/APIN-51234","DOIUrl":"https://doi.org/10.2308/APIN-51234","url":null,"abstract":"","PeriodicalId":38883,"journal":{"name":"Accounting and the Public Interest","volume":"15 1","pages":"22-26"},"PeriodicalIF":0.0,"publicationDate":"2015-07-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"68954716","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
ABSTRACT: The PCAOB conducts inspections of public company auditors to improve audit quality and build investors' confidence in the quality of financial reporting (PCAOB 2010f). While there is some...
{"title":"Do PCAOB Inspection Reports Influence Corporate Executives' Perceptions of Audit Quality and the Likelihood of Switching Auditors?","authors":"J. C. Robertson, Chad M. Stefaniak, R. Houston","doi":"10.2308/APIN-51121","DOIUrl":"https://doi.org/10.2308/APIN-51121","url":null,"abstract":"ABSTRACT: The PCAOB conducts inspections of public company auditors to improve audit quality and build investors' confidence in the quality of financial reporting (PCAOB 2010f). While there is some...","PeriodicalId":38883,"journal":{"name":"Accounting and the Public Interest","volume":"9 1","pages":"48-71"},"PeriodicalIF":0.0,"publicationDate":"2014-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"68953929","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
As President Franklin Roosevelt recognized more than 70 years ago, the public accounting profession plays an integral role in protecting investors. The SEC was created during FDR’s presidency and, as defined by one of its early chairmen, William O. Douglas, has historically been viewed as the sole government agency that serves as ‘‘the investor’s advocate’’ (Hohenstein 2005). As an individual who has observed virtually every important auditing-related policy debate over the past dozen years from a quasi-inside perspective, but unrestrained by the strictures of a government appointment so, therefore, able to speak freely, I believe that the SEC can do more to empower the PCAOB to advance policy-related initiatives that will serve the auditing profession’s public interest responsibilities. In this commentary, I discuss three auditing policy-related initiatives where I believe that the SEC can provide more support to the PCAOB, and one initiative that the SEC can pursue on its own. Each of these initiatives should lead to better auditing and/or to better communication between the auditor and financial statement users. These initiatives involve: (1) the standard audit report; (2)
{"title":"COMMENTARY––A Call to Action: The Securities and Exchange Commission and the Auditing Profession's Public Interest Responsibilities","authors":"Joseph V. Carcello","doi":"10.2308/APIN-51124","DOIUrl":"https://doi.org/10.2308/APIN-51124","url":null,"abstract":"As President Franklin Roosevelt recognized more than 70 years ago, the public accounting profession plays an integral role in protecting investors. The SEC was created during FDR’s presidency and, as defined by one of its early chairmen, William O. Douglas, has historically been viewed as the sole government agency that serves as ‘‘the investor’s advocate’’ (Hohenstein 2005). As an individual who has observed virtually every important auditing-related policy debate over the past dozen years from a quasi-inside perspective, but unrestrained by the strictures of a government appointment so, therefore, able to speak freely, I believe that the SEC can do more to empower the PCAOB to advance policy-related initiatives that will serve the auditing profession’s public interest responsibilities. In this commentary, I discuss three auditing policy-related initiatives where I believe that the SEC can provide more support to the PCAOB, and one initiative that the SEC can pursue on its own. Each of these initiatives should lead to better auditing and/or to better communication between the auditor and financial statement users. These initiatives involve: (1) the standard audit report; (2)","PeriodicalId":38883,"journal":{"name":"Accounting and the Public Interest","volume":"14 1","pages":"72-78"},"PeriodicalIF":0.0,"publicationDate":"2014-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"68954049","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"My Reflections on the 2014 Edition of Accounting and the Public Interest","authors":"Pamela B. Roush","doi":"10.2308/APIN-10466","DOIUrl":"https://doi.org/10.2308/APIN-10466","url":null,"abstract":"","PeriodicalId":38883,"journal":{"name":"Accounting and the Public Interest","volume":"14 1","pages":"128-131"},"PeriodicalIF":0.0,"publicationDate":"2014-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"68954080","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
ABSTRACT: The United Nations, federal governments and their agencies, non-governmental organizations (NGOs), shareholder activists, private sector standard setters, and academic researchers, as well as many others, are taking actions to improve corporations' accountability regarding the environmental and social impacts of their operations. These actions have helped propel a rapid increase in voluntary corporate sustainability reporting. Although the uptake in sustainability reporting has received a significant amount of support from relevant and respected organizations, academic and policy debates continue over whether voluntary corporate sustainability reports can monitor corporate activities effectively. While some researchers view these reports as signals of superior actions, others argue that they provide corporations with an opportunity to obfuscate their actual social and environmental performance through selective and incomplete disclosure strategies. The purpose of this commentary is to advocate f...
{"title":"COMMENTARY––The Public Interest Imperative in Corporate Sustainability Reporting Research","authors":"E. Nickell, R. Roberts","doi":"10.2308/APIN-51125","DOIUrl":"https://doi.org/10.2308/APIN-51125","url":null,"abstract":"ABSTRACT: The United Nations, federal governments and their agencies, non-governmental organizations (NGOs), shareholder activists, private sector standard setters, and academic researchers, as well as many others, are taking actions to improve corporations' accountability regarding the environmental and social impacts of their operations. These actions have helped propel a rapid increase in voluntary corporate sustainability reporting. Although the uptake in sustainability reporting has received a significant amount of support from relevant and respected organizations, academic and policy debates continue over whether voluntary corporate sustainability reports can monitor corporate activities effectively. While some researchers view these reports as signals of superior actions, others argue that they provide corporations with an opportunity to obfuscate their actual social and environmental performance through selective and incomplete disclosure strategies. The purpose of this commentary is to advocate f...","PeriodicalId":38883,"journal":{"name":"Accounting and the Public Interest","volume":"14 1","pages":"79-86"},"PeriodicalIF":0.0,"publicationDate":"2014-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"68954521","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"COMMENTARY––Audit Quality and the Public Interest","authors":"J. Liddy","doi":"10.2308/APIN-51156","DOIUrl":"https://doi.org/10.2308/APIN-51156","url":null,"abstract":"","PeriodicalId":38883,"journal":{"name":"Accounting and the Public Interest","volume":"14 1","pages":"110-112"},"PeriodicalIF":0.0,"publicationDate":"2014-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"68954542","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
ABSTRACT: Following Patten (2005), we focus on corporate disclosure of environmental capital expenditure projections and spending, and address two separate issues related to the corporate use of manipulative disclosure. First, we investigate whether potential increases in oversight and accountability due to the passage of the Sarbanes-Oxley Act (SOX) in 2002 and the issuance of the Governmental Accountability Office's (GAO 2004) report on its investigation of corporate environmental disclosure may have induced firms to be less egregious in their use of overspending projections. Second, given the flexibility in the disclosure requirements, we explore whether, within the sample of companies providing projections of environmental capital spending, greater legitimacy exposures are associated with differences in the use of language within the disclosures. We find, first, that while the incidence and severity of over-projections of environmental capital spending decreased following the GAO (2004) report, the ch...
{"title":"Manipulative Environmental Disclosure: Further Analysis of Corporate Projections of Environmental Capital Spending","authors":"Jason Chen, Jennifer C Chen, Dennis M. Patten","doi":"10.2308/APIN-51123","DOIUrl":"https://doi.org/10.2308/APIN-51123","url":null,"abstract":"ABSTRACT: Following Patten (2005), we focus on corporate disclosure of environmental capital expenditure projections and spending, and address two separate issues related to the corporate use of manipulative disclosure. First, we investigate whether potential increases in oversight and accountability due to the passage of the Sarbanes-Oxley Act (SOX) in 2002 and the issuance of the Governmental Accountability Office's (GAO 2004) report on its investigation of corporate environmental disclosure may have induced firms to be less egregious in their use of overspending projections. Second, given the flexibility in the disclosure requirements, we explore whether, within the sample of companies providing projections of environmental capital spending, greater legitimacy exposures are associated with differences in the use of language within the disclosures. We find, first, that while the incidence and severity of over-projections of environmental capital spending decreased following the GAO (2004) report, the ch...","PeriodicalId":38883,"journal":{"name":"Accounting and the Public Interest","volume":"14 1","pages":"87-109"},"PeriodicalIF":0.0,"publicationDate":"2014-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"68953943","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Christine A. Denison, S. Ravenscroft, Paul F. Williams
ABSTRACT: Accounting as a professional practice plays a profound, unavoidable, and often unnoticed role in the lives of all citizens. As members of the Public Interest Section of the American Accou...
{"title":"Accounting and Public Policy: The Importance of Credible Research","authors":"Christine A. Denison, S. Ravenscroft, Paul F. Williams","doi":"10.2308/APIN-51158","DOIUrl":"https://doi.org/10.2308/APIN-51158","url":null,"abstract":"ABSTRACT: Accounting as a professional practice plays a profound, unavoidable, and often unnoticed role in the lives of all citizens. As members of the Public Interest Section of the American Accou...","PeriodicalId":38883,"journal":{"name":"Accounting and the Public Interest","volume":"14 1","pages":"113-127"},"PeriodicalIF":0.0,"publicationDate":"2014-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"68954671","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
ABSTRACT: What is the role of accounting? Typically, accounting is viewed as a technology to inform business decisions, such as allocation of economic resources within the marketplace. In contrast, public interest scholars emphasize the social role of accounting. For example, accounting mediates relationships among various parties, impacts social outcomes, and justifies the distribution of economic rewards. This paper contributes to the public interest perspective by exploring the origin of double-entry accounting (DEA) as a form of personal apologia. To develop the thesis that DEA originated as a form of personal apology, this paper draws from modern and medieval scholars. During the medieval period, profit seeking and markets were deeply suspect and, thus, medieval merchants occupied a precarious social and moral position. The Catholic Church was active in determining the “just price” for goods. Personal morality and just, balanced relationships were primary factors in the development of DEA. Confession...
{"title":"Accounting as Personal Apology","authors":"Larita J. Killian","doi":"10.2308/APIN-51097","DOIUrl":"https://doi.org/10.2308/APIN-51097","url":null,"abstract":"ABSTRACT: What is the role of accounting? Typically, accounting is viewed as a technology to inform business decisions, such as allocation of economic resources within the marketplace. In contrast, public interest scholars emphasize the social role of accounting. For example, accounting mediates relationships among various parties, impacts social outcomes, and justifies the distribution of economic rewards. This paper contributes to the public interest perspective by exploring the origin of double-entry accounting (DEA) as a form of personal apologia. To develop the thesis that DEA originated as a form of personal apology, this paper draws from modern and medieval scholars. During the medieval period, profit seeking and markets were deeply suspect and, thus, medieval merchants occupied a precarious social and moral position. The Catholic Church was active in determining the “just price” for goods. Personal morality and just, balanced relationships were primary factors in the development of DEA. Confession...","PeriodicalId":38883,"journal":{"name":"Accounting and the Public Interest","volume":"14 1","pages":"34-47"},"PeriodicalIF":0.0,"publicationDate":"2014-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"68954313","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2014-12-01DOI: 10.2308/1530-9320-14.1.viii
Pamela B. Roush
{"title":"Accounting and the Public Interest Editor's Report","authors":"Pamela B. Roush","doi":"10.2308/1530-9320-14.1.viii","DOIUrl":"https://doi.org/10.2308/1530-9320-14.1.viii","url":null,"abstract":"","PeriodicalId":38883,"journal":{"name":"Accounting and the Public Interest","volume":"14 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2014-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.2308/1530-9320-14.1.viii","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"68929679","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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