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21 – 30 of 833Kristine N. Palmer, Douglas E. Ziegenfuss and Robert E. Pinsker
A domain independent perspective compares international competency studies from The Big 8 White Paper in 1989 to recent studies by the Institute of Management Accountants…
Abstract
A domain independent perspective compares international competency studies from The Big 8 White Paper in 1989 to recent studies by the Institute of Management Accountants, Institute of Internal Auditors, International Federation of Accountants, and the American Institute of Certified Public Accountants. Educators can use these common and specialized competencies to design accounting curricula to prepare students for entry into auditing careers. Practitioners can also use them to design hiring and evaluation criteria. The job market for accounting graduates is no longer dominated by public accounting. A more generalized skill set may be taught across accounting curriculums that was previously deemed necessary. Also recent international accounting scandals have put the accounting profession under public and regulatory scrutiny. New regulation and auditing standards may regain public trust. The knowledge, skills, and abilities for entry‐level accountants are: communication skills, interpersonal skills, general business knowledge, accounting knowledge, problem‐solving skills, information technology, personal attitudes and capabilities, and computer skills.
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Examines the role of professional associations, governmental agencies, and international accounting and auditing bodies in promulgating standards to foster auditor independence…
Abstract
Examines the role of professional associations, governmental agencies, and international accounting and auditing bodies in promulgating standards to foster auditor independence domestically and abroad. Focuses specifically on the role played by the American Institute of Certified Public Accountants, the Institute of Internal Auditors (IIA), the Securities and Exchange Commission and the US Government Accounting Office. Also looks at other professional associations in banking, industry, and manufacturing sectors dealing with sensitive issues of auditors′ involvement in such matters as management advisory services, operating responsibilities, outsourcing, opinion shopping, auditor rotation, and other conflicts of interest which may impair auditor independence.
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Chad Albrecht, Ricardo Malagueno, Daniel Holland and Matt Sanders
The purpose of this paper is to investigate whether the existence of a professional oversight body and certain country‐specific education regulations in auditing are associated…
Abstract
Purpose
The purpose of this paper is to investigate whether the existence of a professional oversight body and certain country‐specific education regulations in auditing are associated with a country's perceived level of corruption.
Design/methodology/approach
Drawing on data from the International Federation of Accountants (IFAC) database, the authors used the Mann‐Whitney U analysis technique to test the difference between countries' perceived level of corruption based on whether they have or have not developed professional oversight bodies and licensing regulations.
Findings
Results suggest that countries that have established an audit profession oversight body are, indeed, perceived to be less corrupt. Similarly, countries that require practical experience, academic study, and a licensing examination in order to practice auditing are perceived to be less corrupt. On the other hand, the analysis shows that requiring auditors to fulfil continuing education requirements is not significantly related to a perception of lower levels of corruption.
Practical implications
The paper provides important insights for policy makers, business leaders, education and the audit profession as a whole.
Originality/value
This paper provides some of the first empirical support for the relationship between corruption and the use of oversight bodies and licensing regulations in professional auditing at a country level.
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The fact that Departments of Accounting at South African universities, whose academic programmes are accredited by the South African Institute of Chartered Accountants (SAICA)…
Abstract
The fact that Departments of Accounting at South African universities, whose academic programmes are accredited by the South African Institute of Chartered Accountants (SAICA), have for many years focused primarily only on the academic training of prospective chartered accountants, has established a culture that is removed from research, and this is in contrast to the nature of a university. The aim of this paper is to evaluate some recent developments in the South African academic environment that may promote a research culture and to point out the coercive role these developments may play in changing the existing culture of a Department of Accounting. The study concludes that in view of a list of specific recent developments in the national academic environment, Departments of Accounting will be forced to change course toward becoming more research oriented. A number of recommendations are made to expedite the process.
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- Departments of Accounting (South Africa)
- Higher Education Qualifications Framework
- IFAC’s International Education Standards for Professional Accountants
- International context of Departments of Accounting
- Quality assurance in Departments of Accounting
- SAICA’s syllabus content
- Scholarly activity
- The essence of a university
Sergeja Slapničar, Maja Zaman Groff and Neža Štumberger
The purpose of the chapter is to contribute to the discussion as to whether some sort of regulation of professional accountants is warranted, by analysing whether professional…
Abstract
Purpose
The purpose of the chapter is to contribute to the discussion as to whether some sort of regulation of professional accountants is warranted, by analysing whether professional qualification of accountants affects the provision of accounting services.
Methodology/approach
A survey method is used. From a sample of 96 accountants providing accounting services in Slovenia, we estimate the structural equation model and measure competences, knowledge, service mix, customer loyalty and litigation risk.
Findings
We find that professional qualification is positively associated with competences. Competences, in turn, are positively associated with knowledge and wider service product mix, but not with customer loyalty and litigation risk.
Research limitations
The respondents are practicing accountants. Their self-evaluation of their knowledge should be treated with caution in terms of the absolute values of assessed knowledge as they are inevitably subjective. For other variables, more objective measures are used.
Research implications
In the absence of accounting profession regulation, the quality of financial reporting may be particularly vulnerable in micro companies. Although answering the question of whether provision of accounting services should be subject to regulation is not straight-forward, the results of our study provide some guidance for regulatory decision making.
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This experimental study investigates the connotative (measured) meaning of the concept “auditor independence” within three audit engagement case contexts, including two…
Abstract
This experimental study investigates the connotative (measured) meaning of the concept “auditor independence” within three audit engagement case contexts, including two acknowledged in the literature to represent significant potential threats to independence. The study’s research design utilises the measurement of meaning (semantic differential) framework originally proposed by Osgood et al. (1957). Findings indicate that research participants considered the concept of independence within a two factor cognitive structure comprising “emphasis” and “variability” dimensions. Participants’ connotations of independence varied along both these dimensions in response to the alternative experimental case scenarios. In addition, participants’ perceptions of the auditor’s independence in the three cases were systematically associated with the identified connotative meaning dimensions.
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Daniel Zdolšek, Vita Jagrič, Tjaša Štrukelj and Sabina Taškar Beloglavec
Purpose/Aim: Over the last quarter of a century, several voluntary frameworks and non-financial reporting standards have been developed by various initiatives and organisations…
Abstract
Purpose/Aim: Over the last quarter of a century, several voluntary frameworks and non-financial reporting standards have been developed by various initiatives and organisations. Especially after the 2008 financial crisis, which deepened into values crises, the need for evaluating social, environmental, and economic consequences and herein for non-financial disclosures accrued. This chapter aims to outline the current state in the ecosystem for non-financial reporting and its projected future developments and suggests further developments in this field. Since financial institutions played a negative role in the crises and will be important in future responsible investing, the authors also addressed some financial institutions’ specific non-financial issues.
Method: In search of an answer to our questions about whether existing non-financial reporting pronouncements meet (various) stakeholders’ expectations and whether international pronouncements are needed, we rely on triangulation. We start with the identification of phenomena of non-financial reporting. Description of phenomena is further on supplemented with a literate overview. Based on a review of prior research and study of the current framework’s pros and cons, we present a possible path of further development in non-financial reporting. Making that mixed-methodological approach is used (i.e. deductive and inductive reasoning).
Results/Findings: The authors deduce that there has been a substantial increase in demand for non-financial information, social responsibility ratings and other non-financial information services on behalf of preparers, users of such reports and the public. The authors particularly highlight the shortcomings that currently exist and outline the characteristics that future international non-financial reporting frameworks would have to meet with the awareness that such framework or standards will have their advantages and disadvantages. As seen by the authors, the main problem is how to achieve political consensus and then general acceptance by users.
Originality/Significance: The International Financial Reporting Standards (IFRS) Foundation has become active in the field of non-financial reporting and started a project to become an internationally recognised standard-setter. However, with many mandatory or voluntary initiatives being started in this field, IFRS Foundation will need to address many challenges and ambiguities to become a leading organisation in non-financial reporting. Therefore, the research question is whether a new board, comparable to the International Accounting Standards Board, with the straightforward task of setting non-financial reporting standards would be needed in the future.
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Beverley Jackling, Barry J. Cooper, Philomena Leung and Steven Dellaportas
Given the calls for increased ethics education following recent corporate collapses, this paper aims to examine the significance of ethical issues that challenge the profession…
Abstract
Purpose
Given the calls for increased ethics education following recent corporate collapses, this paper aims to examine the significance of ethical issues that challenge the profession and, more specifically, professional accounting bodies.
Design/methodology/approach
The study assesses the perceptions via an online survey of 66 professional accounting bodies worldwide in respect of ethical issues, potential causes of ethical failure and the need for ethics education.
Findings
Respondents identified a number of important challenges including conflicts of interest, earnings management and whistle‐blowing. The findings also demonstrate strong support for participation in prescribing the nature of ethics education by members of professional accounting bodies.
Research limitations/implications
The results of this study are based on feedback from 41 per cent of member bodies of the International Federation of Accountants (IFAC). Despite a number of follow‐up reminder notices, some regions are under‐represented in the responses to the survey distributed to the (then) 160 member bodies of IFAC. Geographic isolation and language limitations contributed to the failure to gain a higher response rate.
Practical implications
The findings demonstrate that professional bodies support ethics education at the pre‐ and post‐qualifying levels of education and a willingness to take an active role in promoting ethics education to their members.
Originality/value
By addressing member bodies' attitudes to ethics education, this paper fills a gap in prior literature that has been restricted to addressing the attitudes of academics, students and business organisations.
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This chapter presents an approach for teaching divergent and evolving auditing standards in an introductory auditing course. The existence of divergent and continually evolving…
Abstract
This chapter presents an approach for teaching divergent and evolving auditing standards in an introductory auditing course. The existence of divergent and continually evolving auditing standards can be challenging for students and for auditing educators. In addition to two separate sets of standards in the United States for the audits of public companies (issuers) and nonpublic companies (nonissuers), auditors also need to be aware of the growing prominence of international standards. In addition to providing background information on standard-setting bodies and divergent auditing standards, and suggestions for simplifying the process of guiding students to an understanding of these standards, this chapter provides figures that can be used for demonstration in class, along with a series of brief internet-based research exercises. The exercises and examples provided may help auditing educators to facilitate students’ understanding and mastery of the fundamental elements of the domestic and international auditing standard-setting forces and activities that impact, directly or indirectly, auditing practice in the United States and abroad.
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