Browsing by Author "Jones, Keith L"
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Item Accounting Conservatism in Fraud Firms: An Empirical Investigation(2008) Jones, Keith L; Krishnan, Gopal V; Pevzner, Mikhail; Sengupta, ParthaWe examine whether Ball and Shivakumar (2006) and Basu (1997) models of conservatism identify fraud firms as anti-conservative. We show that both models do so to some extent, but Ball and Shivakumar model results are stronger. We further show that these results are driven by firms committing largest frauds as a percentage of firms' assets. Our results are important to academics who use conservatism measures in their studies, and to policy makers who seek to assess usefulness of conservatism to capital markets.Item Comments by the Auditing Standards Committee of the Auditing Section of the American Accounting Association on PCAOB Rulemaking Docket Matter No. 37: PCAOB Release No. 2011-006, Concept Release on Auditor Independence and Audit Firm Rotation(American Accounting Association, 2012) Jones, Keith L; Aier, Jagadison K; Brandon, Duane M; Carpenter, Tina D; Gaynor, Lisa Milici; Knechel, W Robert; Pevzner, Mikhail; Reed, Brad; Walker, Paul LIn August 2011, the Public Company Accounting Oversight Board (PCAOB or Board) issued a concept release to solicit public comment on the potential direction of a proposed standard-setting project on means to enhance auditor independence, objectivity, and professional skepticism. The Concept Release sought comments on and explores in detail the possibility of mandatory audit firm rotation. The PCAOB provided for a 121-day exposure period (from August 16 to December 14, 2011) for interested parties to examine and provide comments on the concept release. The Auditing Standards Committee of the Auditing Section of the American Accounting Association provided the comments in the letter below (dated December 13, 2011) to the PCAOB on PCAOB Rulemaking Docket Matter No. 37: PCAOB Release No. 2011-006, Concept Release on Auditor Independence and Audit Firm Rotation.Item Comments by the Auditing Standards Committee of the Auditing Section of the American Accounting Association on the IAASB Proposal: Improving the Auditor's Report(American Accounting Association, 2013) Chen, Long; Jones, Keith L; Lisic, Ling; Michas, Paul; Pawlewicz, Robert; Pevzner, MikhailRecently, the International Auditing and Assurance Standards Board (IAASB) solicited public comments on its proposal to improve the current format of the auditor's report under International Auditing Standards. This commentary summarizes the contributors' views on the various alternatives proposed in the IAASB proposal, entitled, Improving the Auditor's Report. The invitation to comment (which invited comments through October 8, 2012), with links to the proposal, is available at: http://www.ifac.org/publications-resources/improving-auditor-s-report. Our comments submitted to the IAASB appear below.Item Comments by the Auditing Standards Committee of the Auditing Section of the American Accounting Association on the PCAOB Rulemaking Docket Matter 029: PCAOB Release No. 2011-007, Improving Transparency Through Disclosure of Engagement Partner and Certain Other Participants in Audits(American Accounting Association, 2012) Jones, Keith L; Aier, JK; Brandon, Duane M; Carpenter, Tina D; Caster, Paul; Lisic, Ling; Pevzner, MikhailIn October 2011, the Public Company Accounting Oversight Board (PCAOB or Board) issued a release to solicit public comment on amendments to its standards that would improve the transparency of pubic company audits. The objective of the release was to solicit public comments on a proposed standard that would (1) require registered public accounting firms to disclose the name of the engagement partner in the audit report, (2) amend the Board's Annual Report Form to require registered firms to disclose the name of the engagement partner for each audit report already required to be reported on the form, and (3) require disclosure in the audit report of other independent public accounting firms and other persons that took part in the audit. The PCAOB provided for a 91-day exposure period (from October 11, 2011, to January 9, 2012) for interested parties to examine the release and provide comments. The Auditing Standards Committee of the Auditing Section of the American Accounting Association provided the comments in the letter below to the PCAOB on PCAOB Rulemaking Docket Matter 029: PCAOB Release No. 2011-007, Improving Transparency Through Disclosure of Engagement Partner and Certain Other Participants in Audits.