Accounting Standards: Are We Ready for Principles-Based by William Sinnett, Financial Executives Research Foundation

By William Sinnett, Financial Executives Research Foundation

This informative Q&A sort file summarizes the problems and implications surrounding the potential of an industry-wide switch in accounting criteria from a spotlight on targeted ideas to a concentrate on extensive rules. specialists from expense WaterhouseCoopers (PwC) and the monetary Accounting criteria Board (FASB) resolution thought-provoking questions about the effect of principles-based accounting criteria at the total.

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1986). Positive accounting theory. Englewood Cliffs, NJ: PrenticeHall. , Felsig, R. , & Reilly, T. (1987). Large or small CPA firms: A practitioner’s perspective. CPA Journal (April), 29–33. AN ANALYSIS OF GROUP INFLUENCES ON GOING CONCERN AUDITOR JUDGMENTS Sunita S. Ahlawat and Timothy J. Fogarty ABSTRACT Studies that have indicated that the processing of audit evidence results in judgment bias may be the result of the study of individual decision-making. Building on work that suggests important differences between individual and group decision-making, this paper evaluates decision-making attributes of audit groups.

2000) examined the dimensionality of the Aranya et al. (1981) professional commitment scale with a broad sample of practicing accountants and concluded that the 15-item scale could be parsimoniously reduced to a five-item measure. In light of this research, we performed a principal components, orthogonal rotation factor analysis of the instrument. 40 or greater on a single factor. 15, was the lone item not contributing to the factor. 49. 88. Supplemental analyses utilizing the reduced 5-item scale from Dwyer et al.

The formation of groups to make decisions may An Analysis of Group Influences on Going Concern Auditor Judgments 31 be a means to increase confidence levels. However, at this point it is unclear if audit groups are more confident about such decisions than would individuals be when making the same decision. In sum, group dynamics may provide opportunities for more complete problem analysis of the going concern decision. The group process may be another form of cognitive investment that people put into a decision.

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