Originally published as Managerial Auditing Journal
Volume 20 Number 3, 2005
ISBN: 1 84544 105 2
Guest edited by: Gerald Vinten.
In the wake of Enron, Andersen and several other accounting scandals, the issue of financial regulation has never been more in the spotlight, both from academics and professionals. Managerial Auditing Journal has over 20 years’ experience into looking at auditing issues from both perspectives, and all this experience has come to bear in this carefully selected Special Issue on Financial regulation.
There are eight papers in total which look at the issue from several interesting and insightful angles, including an historical perspective on regulation in the West, comparisons of failures in both the USW and China, why firms fail corporate governance tests and several articles that look at how the role of the auditor has changed against the backdrop of increasing failures and regulation.
This in-depth analysis provides practitioners and academics alike an essential historical, geographical and political context of the issue of financial regulation, while providing many pointers as to how the issue can be addressed and progressed in the coming years. Authors from renowned institutions all over the world such as the Bloomsburg University of Pennsylvania (US), the Victoria Graduate School of Business (Australia), Leicester Business School (UK) and the University of Kentucky (US) all contribute to a powerful, multifarious take on financial regulation in the early 21st Century.
Contents:
The development of accounting regulation in the Gulf Cooperation Council: Western hegemony or recognition of peculiarity?
This article presents a range of related articles on the commercial laws of each state, and the announcements and publications of the Saudi Organisation for Certified Public Accountants (SOCPA), which aim at providing a general background about the development of accounting in GCC countries.
An analysis of recent accounting and auditing failures in the United States on US accounting and auditing in China
This article seeks to analyze the impact of recent accounting and auditing failures in the USA on US accounting and auditing in China, focusing on the practice of guanxi – the networks of informal relationships and exchanges of favors that dominate all business and social activities in Chinese societies.
Mandatory auditor rotation and retention: impact on market share
This paper explores the effects of mandatory auditor rotation and retention on the long-term market shares of the accounting firms that audit the members of the Standard and Poor's (S&P) 500.
The changing role of the auditors
This article highlights the pressures that the auditors would face in the era of globalisation and the challenges they should be willing to accept in order to maintain trust and integrity.
A tale of corporate governance: lessons why firms fail
This article reviews the world's and Australia's notable firm failures associated with divergence of best practices, describing the link of how corporate sustainability depends on its corporate governance implementation.
An exploratory study of auditors’ responsibility for fraud detection in Barbados
Recently, fraud has been brought to the forefront with the scandals of Enron and Worldcom. Fraudulent financial reporting and misappropriation of assets served to undermine investors’ confidence in audited financial statements. This study investigates how auditors and users perceive the auditors’ responsibility for uncovering fraud, the nature and extent of fraud in Barbados, and audit procedures utilised in Barbados since Enron.
Corporate turnaround and financial distress
Drawing on variables cited in the turnaround literature, this study aims to explore whether information contained within annual reports is useful in distinguishing between distressed companies that enact a turnaround and those that fail.
Fraud risk assessments and auditors’ professional scepticism
This article examines whether planning-stage fraud risk assessments and audit experience affect the level of professional scepticism displayed by auditors during fieldwork.
About the Managerial Auditing Journal
The Managerial Auditing Journal uniquely addresses the changing function of the auditor, examining the managerial as well as the professional aspects of the role, and exploring the positive impact of auditing on company policy, corporate governance and organizational progress.
Drawing together international, interdisciplinary contributions, this influential journal offers you a framework of explanation and guidance on the latest developments and research, and provides valuable insights into professional and career development.
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