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You searched for subject:(Auditor litigation). Showing records 1 – 3 of 3 total matches.

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Virginia Commonwealth University

1. Udeh, Ifeoma. AN INVESTIGATION OF INTERNAL CONTROL RELATED FRAUDS AND AUDITOR LITIGATION: PRE- AND POST- SARBANES-OXLEY, SECTION 404.

Degree: PhD, Business, 2012, Virginia Commonwealth University

Using 629 observations of U.S. publicly listed firms with internal control related frauds from 2000 to 2006; this study investigates the change in auditor litigations in the Post- Sarbanes Oxley, Section 404 period. To the extent the conditions of the internal control in place are inadequate or non-existent, the possibility of the occurrence of internal control related fraud heightens. Thus, the inability of auditors to detect a financial statement misstatement due to internal control fraud in a timely manner exposes auditors to litigation (Barra, 2010; Heninger, 2001; Caplan, 1999). This situation was prevalent in the recent notable corporate failures that resulted in auditors being named as potential defendants. The present research finding indicates during the Post-SOX 404 period, the probability of auditor litigation due to internal control fraud increases. However, no support was shown for further increases in the likelihood of auditor litigation when both types of fraud occur in the Post-SOX 404 period. These results suggest an increase in the enforcement of accountability by the SEC, and should motivate auditors towards reassessing their audit procedures. Furthermore, the results indicate the probability of auditor litigation due to internal control fraud decreases for accelerated filers, and similarly, the probability of auditor litigation decreases for firms with management voluntary disclosures reflecting effective internal control. The overall result of this study indicates the likelihood of auditors being litigated increased in the Post-SOX 404 period, and auditors are more likely to be litigated when both types of fraud occurs simultaneously. This result further supports the argument for meritorious claims and the procedural justice theory. Advisors/Committee Members: Ruth Epps.

Subjects/Keywords: Auditor litigation; Internal control; Fraud; Business

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APA (6th Edition):

Udeh, I. (2012). AN INVESTIGATION OF INTERNAL CONTROL RELATED FRAUDS AND AUDITOR LITIGATION: PRE- AND POST- SARBANES-OXLEY, SECTION 404. (Doctoral Dissertation). Virginia Commonwealth University. Retrieved from https://scholarscompass.vcu.edu/etd/2736

Chicago Manual of Style (16th Edition):

Udeh, Ifeoma. “AN INVESTIGATION OF INTERNAL CONTROL RELATED FRAUDS AND AUDITOR LITIGATION: PRE- AND POST- SARBANES-OXLEY, SECTION 404.” 2012. Doctoral Dissertation, Virginia Commonwealth University. Accessed June 15, 2019. https://scholarscompass.vcu.edu/etd/2736.

MLA Handbook (7th Edition):

Udeh, Ifeoma. “AN INVESTIGATION OF INTERNAL CONTROL RELATED FRAUDS AND AUDITOR LITIGATION: PRE- AND POST- SARBANES-OXLEY, SECTION 404.” 2012. Web. 15 Jun 2019.

Vancouver:

Udeh I. AN INVESTIGATION OF INTERNAL CONTROL RELATED FRAUDS AND AUDITOR LITIGATION: PRE- AND POST- SARBANES-OXLEY, SECTION 404. [Internet] [Doctoral dissertation]. Virginia Commonwealth University; 2012. [cited 2019 Jun 15]. Available from: https://scholarscompass.vcu.edu/etd/2736.

Council of Science Editors:

Udeh I. AN INVESTIGATION OF INTERNAL CONTROL RELATED FRAUDS AND AUDITOR LITIGATION: PRE- AND POST- SARBANES-OXLEY, SECTION 404. [Doctoral Dissertation]. Virginia Commonwealth University; 2012. Available from: https://scholarscompass.vcu.edu/etd/2736


Texas A&M University

2. Schmidt, Jaime J. Financial Statement Misstatements, Auditor Litigation, and Subsequent Auditor Behavior.

Degree: 2010, Texas A&M University

This paper examines the occurrence and outcome of auditor litigation related to financial statement misstatements and the effect of auditor misstatement-based litigation on subsequent auditor behavior. The study is motivated by recent calls to limit auditor legal liability and the need to examine the ability of litigation to deter non-Generally Accepted Accounting Principles (GAAP) financial reporting. I find that misstatement severity is the primary driver of auditor litigation. Specifically, I find that auditor misstatement-based litigation is more likely when the misstatement is associated with fraud, a regulatory investigation, a larger stock price decline, and/or a greater number of accounting application [i.e., Financial Accounting Standards Board (FASB)/GAAP) failures. In addition, I find that auditor misstatement-based litigation is more likely to occur when the misstatement is associated with engagement fees that consist of a greater magnitude or a greater proportion of non-audit service fees. Further, I find that misstatement severity and the size of the plaintiffs? claims are the primary drivers of auditor settlements resulting from misstatement-based litigation. Specifically, I find that an auditor settlement resulting from misstatement-based litigation is more likely to occur when the misstatement is associated with fraud, a greater amount of alleged income or equity inflation over the class action time period, and/or a larger alleged percentage drop in share price over the class action time period. With respect to subsequent auditor behavior, I find evidence that auditor litigation results in more conservative subsequent auditor behavior across a litigated auditor?s office-wide client portfolio (that excludes the litigated client). Specifically, in the year following auditor litigation, I find evidence that litigation results in increased auditor constraint of client-reported positive and signed discretionary accruals, as well as longer audit report lags. Advisors/Committee Members: Wilkins, Michael (advisor), Rees, Lynn (committee member), Sharp, Nathan (committee member), Zardkoohi, Asghar (committee member).

Subjects/Keywords: financial statement misstatements; auditor litigation; auditor settlements; auditor behavior; discretionary accruals; audit report lag

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APA (6th Edition):

Schmidt, J. J. (2010). Financial Statement Misstatements, Auditor Litigation, and Subsequent Auditor Behavior. (Thesis). Texas A&M University. Retrieved from http://hdl.handle.net/1969.1/ETD-TAMU-2009-05-436

Note: this citation may be lacking information needed for this citation format:
Not specified: Masters Thesis or Doctoral Dissertation

Chicago Manual of Style (16th Edition):

Schmidt, Jaime J. “Financial Statement Misstatements, Auditor Litigation, and Subsequent Auditor Behavior.” 2010. Thesis, Texas A&M University. Accessed June 15, 2019. http://hdl.handle.net/1969.1/ETD-TAMU-2009-05-436.

Note: this citation may be lacking information needed for this citation format:
Not specified: Masters Thesis or Doctoral Dissertation

MLA Handbook (7th Edition):

Schmidt, Jaime J. “Financial Statement Misstatements, Auditor Litigation, and Subsequent Auditor Behavior.” 2010. Web. 15 Jun 2019.

Vancouver:

Schmidt JJ. Financial Statement Misstatements, Auditor Litigation, and Subsequent Auditor Behavior. [Internet] [Thesis]. Texas A&M University; 2010. [cited 2019 Jun 15]. Available from: http://hdl.handle.net/1969.1/ETD-TAMU-2009-05-436.

Note: this citation may be lacking information needed for this citation format:
Not specified: Masters Thesis or Doctoral Dissertation

Council of Science Editors:

Schmidt JJ. Financial Statement Misstatements, Auditor Litigation, and Subsequent Auditor Behavior. [Thesis]. Texas A&M University; 2010. Available from: http://hdl.handle.net/1969.1/ETD-TAMU-2009-05-436

Note: this citation may be lacking information needed for this citation format:
Not specified: Masters Thesis or Doctoral Dissertation


University of Central Florida

3. Phillips, Jillian. Three Studies Investigating The Legal Liability Implications Of The Sarbanes-oxley Act Of 2002.

Degree: 2010, University of Central Florida

This dissertation examines the litigation and legal liability exposure of auditors related to the Sarbanes-Oxley Act of 2002 (SOX). Three separate studies were conducted to examine how auditor's litigation exposure is evaluated by potential litigants (lawyers), and how auditor liability is evaluated by jurors, following the bankruptcy of a client. The first study examines whether the auditor's SOX Section 404 reporting decisions influence lawyers' assessments of their litigation exposure. The second study investigates whether voluntary disclosures of significant deficiencies in internal controls within the SOX Section 404 report, and the subjectivity of the internal control judgments made by the auditor, influence jurors' perceptions of auditor liability for negligence. The third study examines how the requirements of SOX Section 302 related to audit committee independence and audit committee expertise influence jurors' perceptions of auditor independence and auditor liability for negligence. Overall, these three studies provide insights on how different provisions of SOX, specifically the Section 404 report and audit committee requirements, influence the likelihood that auditors will be sued and the likelihood that they will be held liable by a jury. Advisors/Committee Members: Arnold, Vicky.

Subjects/Keywords: Accounting; Auditor Liability; Auditing; Litigation; Sarbanes-Oxley Act of 2002; Internal Controls; Audit Committee; Accounting

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APA · Chicago · MLA · Vancouver · CSE | Export to Zotero / EndNote / Reference Manager

APA (6th Edition):

Phillips, J. (2010). Three Studies Investigating The Legal Liability Implications Of The Sarbanes-oxley Act Of 2002. (Doctoral Dissertation). University of Central Florida. Retrieved from https://stars.library.ucf.edu/etd/4322

Chicago Manual of Style (16th Edition):

Phillips, Jillian. “Three Studies Investigating The Legal Liability Implications Of The Sarbanes-oxley Act Of 2002.” 2010. Doctoral Dissertation, University of Central Florida. Accessed June 15, 2019. https://stars.library.ucf.edu/etd/4322.

MLA Handbook (7th Edition):

Phillips, Jillian. “Three Studies Investigating The Legal Liability Implications Of The Sarbanes-oxley Act Of 2002.” 2010. Web. 15 Jun 2019.

Vancouver:

Phillips J. Three Studies Investigating The Legal Liability Implications Of The Sarbanes-oxley Act Of 2002. [Internet] [Doctoral dissertation]. University of Central Florida; 2010. [cited 2019 Jun 15]. Available from: https://stars.library.ucf.edu/etd/4322.

Council of Science Editors:

Phillips J. Three Studies Investigating The Legal Liability Implications Of The Sarbanes-oxley Act Of 2002. [Doctoral Dissertation]. University of Central Florida; 2010. Available from: https://stars.library.ucf.edu/etd/4322

.