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Mega-events have been the topic of unprecedented consideration within recent research. Research on the residents' perspectives, however, is still in the infancy stage, yet a key contributor to the overall legacy planning considerations and process. This research investigates resident perceptions toward a mega-event to assist with planning/execution of such events in addition to advancing knowledge within this area.

For this research, an online survey was utilized to reach out to residents in the host city during the mega-event, Solar Eclipse Weekend. Factor analysis and cluster analysis were used to analyze the results.

Using exploratory factor analysis, 305 online surveys were analyzed. Using varimax rotation, factor analysis determined four significant factors: environment, local engagement, tourism support, and infrastructure. Cluster analysis was then conducted identifying three clusters of residents labeled neutralists, supporters and enthusiasts.

The practical implications should be of assistance to professional event planners, city governments and destination marketing organizations. Through utilization of the information provided, community participation should be sought after throughout the planning phase and into the management and execution of large events to best gain resident support.

This research further explored residents' perspectives of a mega-event. While this area of research has been noted in strategic approaches to planning, managing and executing mega-events, the research on stakeholders (such as residents') perspectives is still in the infancy stage. This research contributes to advancing industry planning approaches and strategic execution, in addition to advancing academic knowledge within this area.

The purpose of this paper is to examine existing literature, including both academic and practitioner publications, related to Canadian SOX (or C-SOX as it is popularly known). The study discusses the origins of the Act, the underlying motivations for enacting this legislation in Canada and its impact on corporate decisions since its inception in 2003.

The principal focus of this literature review is on C-SOX, its inception, reception, compliance and impact in Canada, both from business’ and investors’ critical perspectives. The authors have followed a two-step process to gather all the articles. First, the authors used a keyword search at Google Scholar and ProQuest (e.g. C-SOX, Canadian SOX, Bill 198, etc.) to gather all the articles. Second, the authors retained articles and abstracts that primarily dealt with the background framework and impact of the legislation. It is to be noted that C-SOX was mainly a reactionary legislation following the adoption of US-SOX in 2002. Any discussion of C-SOX is, therefore, incomplete without referencing the literature related to US-SOX.

In this review paper the evolution of C-SOX over time in Canada, as well as studies on its impacts and criticisms have been summarized. Based on the extensive research that followed the enactment of US-SOX, the authors also provide suggested research directions related to C-SOX in the future.

C-SOX has been relatively underexplored and therefore, not much academic work is available presently. This study highlights this gap in the literature with the hope that researchers will devote their energy to understanding the broader ramifications of major legislations such as C-SOX which will potentially also inform future public policy choices.

This research will help both businesses and investors to understand each other’s perspectives and concerns regarding C-SOX. This paper will also be helpful to policy makers to identify potential areas of improvement in this and future legislative decisions in the future.

Using a qualitative approach this study combines the development of C-SOX as a legislation in Canada, its overall effectivity/drawbacks and explores the areas it impacts, both positively and negatively, along with criticisms and appreciations.

Mandatory auditor firm rotation (mandatory rotation) has been a controversial issue in the United States for many decades. Mandatory rotation has been considered at various times as a means of improving auditor independence. For example, in the United States, the Public Company Accounting Oversight Board (PCAOB) has considered mandatory rotation as a solution to the independence problem (PCAOB, 2011) and the European Parliament approved legislation that will require mandatory rotation in the near future (Council of European Union, 2014). The concept of implementing a mandatory rotation policy has been encouraged by some constituents of audited financial statements and rejected by other constituents of audited financial statements. Although there are apparent pros and cons of such a policy, the developmental process of such a policy in this country has not necessarily been an open-democratic, objective process. Universal mandatory rotation may or may not be the ideal solution; however, an open-democratic, objective process is needed to facilitate the development of a solution that considers the needs of all major stakeholders of audited financial statements – not simply accounting firms and public companies, but also investors. The purpose of this paper is to critically examine key issues relating to mandatory rotation and to encourage and stimulate future research and ongoing dialogue regarding this issue, in spite of efforts by certain constituents to silence the issue. This paper provides an overview of the various reasons, including practical, theoretical, political, and self-motivated reasons, why a mandatory rotation policy has not been implemented in the United States in order to address the potential conflict of interest between the auditor and client. This paper will also discuss how some deliberations of mandatory rotation have been flawed. The paper concludes with a summary of key issues along with two approaches for regulators, policy makers, and academics to consider as ways to improve the process and address auditor independence. The authors are not advocating for any specific solution; however, we are advocating for a more objective, unified approach and for the dialogue regarding auditor rotation to continue.

The purpose of this paper is to compare the effect of corporate governance variables and fraud litigation on audit fees both before and after the implementation of the Sarbanes‐Oxley (SOX) Act in 2002.

The paper utilizes a sample of firms that had litigation proceedings filed against them for fraudulent financial reporting, and compare these firms to a sample of non‐fraud firms in the pre‐and post‐SOX period. First, the authors examine indicators of audit fees using the Simunic model. Next, the authors develop a logistic regression model with corporate governance variables and other financial control variables in order to identify the characteristics of firms that are accused of fraud in the pre‐and post‐SOX period.

The paper identifies specific components of corporate governance that are positively related to audit fees and which subsequently aid in classifying companies subject to fraud litigation. The most successful logistic regression model for 2005 (post‐SOX) is 64.4 per cent accurate in distinguishing firms litigated for fraud, while the most successful model for 2001 (pre‐SOX) is 61.4 per cent accurate in distinguishing such firms.

The research design and findings assist in providing additional evidence about the association between the effectiveness of the corporate governance structure and the external auditor in assessing the risk of fraud.

Central to the Sarbanes–Oxley Act was a requirement that every company have an audit of its internal control over financial reporting. However, there were concerns that this requirement was overly burdensome, from a financial perspective, for small businesses. This concern promoted several delays in enforcing the law for small companies and ultimately caused congress to permanently exempt small businesses. Yet, there are some small companies that voluntarily elect to comply with the law. The purpose of this paper is to explore why these companies elect to incur these costly audits.

Using a sample of 5,834 non-accelerator US firms, this paper uses a robust logistic regression model to examine why some firms comply voluntary with SOX Section 404(b).

This study shows that small companies getting audits of internal controls may be doing so to restore investor confidence after reporting failures, to appear credible prior to raising funds, as a response to organizational changes, or in anticipation of being required to comply.

This study provides regulators with an improved understanding of when it is necessary to implement mandatory rather than voluntary guidance.

This study is the first to document why a client would voluntarily comply with SOX Section 404 (b).

This paper aims to examine the extent to which two commonly recommended information sharing and communication interventions, direct reporting lines between the internal audit function (IAF) and the audit committee (AC) and their joint reviews of internal audit standards and procedures, improve the internal audit in the continuous audit control and monitoring efforts.

This study uses data from the Audit Intelligence Suite-Benchmarking (AIS) Report for the years 2007 to 2016 published by the Institute of Internal Auditors. The authors test the research hypotheses using the ordinary least squares regression method.

Functional reporting lines from the IAF to the AC positively impact the internal audit, but administrative lines have a negative impact. Reviews conducted jointly between the IAF and the AC positively influence the internal audit. The impacts of reporting lines and joint reviews are also associated with accounting complexity within a given industry, organizational control structure, organizational scope and the level of IAF’s responsibilities over internal control environment to comply with Sarbanes–Oxley (SOX) Act of 2002.

Because the study uses AIS data, operationalization of variables is constrained to items in the given data set. Future studies, including field studies, may identify other variables and measures using diverse data sources. This study expands the knowledge of effective means of information sharing and communication to enhance interactions between the IAF and the AC.

The results suggest that the use of reporting lines should correspond to accounting complexity, organizational control structure, organizational scope, and reliance on the IAF in handling SOX responsibilities. They also highlight the importance of joint reviews between the IAF and AC in ensuring a high-quality internal audit.

The authors envisioned reporting lines and joint reviews as an excellent tool to balance the relationship between the IAF and the AC for continuous internal auditing beyond generating internal audit reports according to the US Committee of Sponsoring Organizations of the Treadway Commission framework Principle 14.

The purpose of this paper is to investigate the effects of audit client importance on future bank risk and systemic risk in US-listed commercial banks.

The authors use archival research method.

The authors mainly find that client importance is negatively related with future bank-specific crash risk and distress risk, and also with sector-wide systemic crash risk and systemic distress risk in the future. The authors also report some evidence that these relations become more pronounced during the crisis period than during the non-crisis period. Moreover, the effect of client importance on systemic risk is found to strengthen in banks audited by Big-N auditors, by auditors without clients who restate earnings, and by auditors with more industry expertise.

These findings contribute to the auditing and systemic risk literature.

This study has implications for regulating the banking industry.

This study provides original evidence on how client importance affects bank-specific risk and systemic risk of the banking industry.

The pursuit of good corporate governance, as exemplified by compliance with Sarbanes‐Oxley (SOX), requires corporate real estate (CRE) departments to gain a better understanding of asset values and lease costs than most companies currently possess. As a result, CRE departments are motivated to centralise control over operations globally, to improve systems for ensuring consistent and accurate accounting worldwide and to scrutinise vendors more thoroughly. These changes will be difficult for many CRE departments, but, done properly, the focus on corporate governance will bring greater understanding of real estate’s impact on corporate financial performance, as well as enhancing relationships with the CFO, senior management and business unit leaders.

This study’s purpose is to examine whether providing prior consulting services influences internal auditors’ subsequent assessments when providing assurance services to assist management in its assessment of internal control over financial reporting. A behavioral experiment is used, with internal auditors as participants. We provide some evidence that internal auditors who perform prior consulting services are less likely than others to conclude that an identified control deficiency is a material weakness, but only when the deficiency is directly related to the prior consulting services performed. Limitations include relatively small sample sizes and manipulation check failure rates that, although consistent with several prior studies, are somewhat high. If internal auditors have provided consulting services, they may want to consider limiting the assurance services provided to management that are more directly related to their consulting services. While prior studies have examined the effects of internal auditors’ role in designing internal controls on subsequent services, this is the first study to focus on the impact of providing internal audit consulting services on subsequent assurance services.

Purpose – This chapter examines the foundations of community among youth with disabilities.

Methodology – Qualitative data on 52 youth with disabilities were analyzed, based on interviews with the youth and their parents. The sample included youth with intellectual, hidden, physical, and sensory disabilities. Data analysis was guided by grounded theory.

Findings – Four foundations of community were identified: geographic, disability-based, religious, and virtual. Disability-based contexts provided much of the basis of friendship for youth with disabilities. Just under half of youth had community connections within their home towns.

Research limitations – These analyses rely on the self-reported and parent-reported experiences of 52 youth with disabilities in Massachusetts and are not representative of youth with disabilities nationwide. Only youth who were still in high school just before graduation are represented; those who dropped out earlier were not included.

Practical implications – Community connections create opportunities for friendship and for sharing information. Youth enjoyed their connections, whether they were formal (designed and created by adults) or informal (just hanging out with other local youth).

Social implications – Youth's connections with other youth with disabilities may result in bonding social capital, creating friendships, but there are fewer opportunities for bridging social capital, creating connections with typically developing youth.

Originality – This chapter provides an overview of youth's perceptions of their participation in various social and recreational activities and explores and conceptualizes the contexts in which youth with disabilities experience community connections with other youth.