MEETING DATE: August 14, 1996
MEETING LOCATION: Chicago, IL
IN ATTENDANCE: Executive Committee Members: Arnie Wright, Jane Mutchler, Tom Powell, Karl Hackenbrack, Ira Solomon, Robert Knechel. Guests: Mike Groomer (Web Master), Urton Anderson (Chair, 1997 Mid-Year Meeting Program Committee), and Bill Felix (Editor, Auditing: A Journal of Practice and Theory).
Executive Committee members unanimously approved the minutes of the January 25, 1996 and January 28, 1996 Executive Committee meetings in March 1996, making them available at the Section's Web Page on a timely basis.
The meeting was called to order at 12:15 p.m.
Arnie Wright reviewed the Section's business meeting and luncheon agendum. Ira Solomon reviewed the Section's voting procedures. There was general agreement the voting procedures strike an appropriate balance between control and obtrusiveness.Dennis Schueler was the nominee for Vice President-Practice, Barry Cushing and Ray Wittington were the nominees for Vice President-Academic, and Mike Groomer and Lisa Koonce were the nominees for Secretary.
Jane Mutchler reviewed a list of 1996-97 officers and committee appointments.
Tom Powell reviewed the agenda of the May 21, 1996 Practice Advisory Council (PAC) meeting and led a discussion of the mission, activities, and goals of the PAC, its role within the American Accounting Association, PAC appointment criteria, the enthusiasm of PAC members, and the proposed agenda for the August 15th PAC meeting.All members of the Executive Committee were invited to the August 15th PAC meeting.
Executive Committee consensus was for the PAC to absorb all duties of the Professional Liaison Committee. The Professional Liaison Committee was thereby terminated.
A discussion ensued of how to disseminate the results of the August 15th PAC meeting. Options considered were a separate mailing and a column in The Auditor's Report.
Karl Hackenbrack reviewed the 1995-96 Statement of Cash Receipts, Disbursements and Cash Balance and proposed a 1996-97 budget (attached). The required Executive Committee alert when the cash balance falls below annual dues plus $5000 was given. No action was deemed necessary since the apparently low cash balance reflects timing differences including prepaid editorial support ($15,000) and an outstanding reimbursement of 1996 Mid-Year Meeting costs ($17,500). Other issues discussed included providing support before services are rendered, 1996 Mid-Year Meeting costs, and Newsletter costs.
Jane Mutchler agreed to form a task force to study a broad array of communication related issues. For example, one charge of the task force will be to determine if Newsletter content can be "unbundled" and how best to distribute the materials. There was strong support for electronic dissemination of as much content as possible in light of the rising cost of the Newsletter. Another possibility is to outsource the production and/or distribution of the Newsletter.
Arnie presented a Newsletter budget prepared by Jean Bedard. Jean is aware of the need to control costs.
Urton Anderson presented a 1997 Mid-Year Meeting budget. The discussion focused on the need to control travel and audio visual costs. It was agreed that registration fees for student AAA members will be $50. Urton agreed to provide alternative travel arrangement information in the meeting announcement.
Ira Solomon moved and Jane Mutchler seconded: The 1996-97 budget be approved as amended. The motion past unanimously.
Mike Groomer led a discussion on the development and continuing maintenance of the Section's Web Page. Topics discussed included sources of users, hit rates by menu item, initial electronic dissemination of the Newsletter, and appointments to the Web Committee. It was agreed that the Web Page continue to be physically located at Indiana University, the Section's Secretary be responsible for content oversight, the President appoint a Web Master to work for the Secretary, and the Web Master be responsible for any additions, deletions, maintenance, or technical advice.
Ira Solomon moved and Karl Hackenbrack seconded that: $1000 be available for Web Page purposes. Request for additional funds are to be made to the President. The motion passed unanimously.
Robert Knechel distributed a proposed list of items to be available on the Section's Web Page.
Arnie Wright introduced two proposals seeking Section co-sponsorship of conferences: the 1997 Waterloo Conference and the 1998 International Symposium on Audit Research. A discussion of the pros and cons of co-sponsorship in general ensued. Its was agreed that the proposals will be discussed further at the August 16th Executive Committee meeting.
The meeting adjourned at 4:00 p.m.
Minutes submitted by: Karl Hackenbrack Secretary/Treasurer
American Accounting Association Auditing Section Statement of Cash Receipts, Disbursements and Cash Balance (Note 1)
Actual, FY95: 7/1/94 - 6/30/95 |
Budget, FY96: 7/1/95 - 6/30/96 |
Actual, FY96: 7/1/95 - 6/30/96 |
Proposed Budget, FY97 |
|
RECEIPTS: Membership Dues (Note 2) |
$24,195.37 |
$25,000 |
$25,412.00 |
$25,000 |
Journal Subscriptions |
11,577.30 |
16,000 |
12,142.50 |
16,000 |
Sales of Publications |
845.06 |
. |
818.20 |
. |
Journal Submission Fees |
3,600.00 |
. |
5,000.00 |
. |
CPE (net) |
1,110.64 |
1,500 |
1,721.88 |
1,500 |
Reimbursements (Note 3) |
15,523.91 |
25,000 |
13,390.19 |
17,500 |
Mid-year Meeting Registration |
14,740.00 |
15,000 |
17,140.00 |
18,000 |
Miscellaneous Receipts |
(25.00) |
none |
131.23 |
none |
TOTAL RECEIPTS |
$71,567.28 |
$82,500 |
$75,756.00 |
$78,000 |
DISBURSEMENTS: Awards |
$438.71 |
$500 |
$1,038.65 |
$500 |
A:JP&T --Printing/Distribution |
20,513.51 |
30,000 |
30,620.84 |
23,000 |
--Editorial Support (Note 4) |
15,000.00 |
22,500 |
37,500.00 |
15,000 |
Newsletter: The Auditor's Report |
6,208.56 |
6,500 |
9,738.55 |
8,000 |
Mid-year Meeting (Note 5) |
21,096.58 |
25,000 |
34,604.43 |
33,000 |
Miscellaneous (Note 6) |
5,474.31 |
1,000 |
1,993.98 |
1,000 |
TOTAL DISBURSEMENTS |
$68,731.67 |
$85,500 |
$115,496.45 |
$80,500 |
Increase (Decrease) |
$2,835.61 |
$(3,000) |
$(39,740.45) |
$(2,500) |
Beginning Cash Balance |
$63,621.50 |
$66,457 |
$66,457.11 |
$26,716 |
Ending Cash Balance |
$66,457.11 |
$63,457 |
$26,716.66 |
$24,216 |
NOTES:
MEETING DATE: August 15, 1996
MEETING LOCATION: Chicago, Illinois
Arnie Wright welcomed approximately 100 members to the Section's annual business meeting.
Ira Solomon presented nominations for the positions Vice President-Practice, Vice President-Academic, and Secretary. There were no nominations from the floor. Dennis Schueler was elected Vice President-Practice, Barry Cushing was elected Vice President-Academic, and Lisa Koonce was elected Secretary.
Arnie Wright reported on 1995-96 Section activities. Arnie reiterated the Section's continuing commitment to improving communications between academe and practice/students and highlighted inroads made during 1995-96, including the activities of the Practice Advisory Council. Arnie described progress made developing the Section's Web Page and reported that three by-law changes were approved by the Section's members: (1) split the existing Secretary/Treasurer position, (2) change the title Chairperson and Vice-Chairperson to President and Vice-President, respectively, and (3) change the Section's fiscal year from June 30th to August 31st. Arnie recognized Mike Groomer for his outstanding efforts developing and maintaining the Section's Web Page and expressed his gratitude to a number of Section members and committees for their contributions to Section activities during 1995-96. Arnie noted the great success of the Section's 1996 Mid-Year Meeting in San Antonio and reminded members the Section's 1997 Mid-Year Meeting will be January 23rd through 25th in Jacksonville, Florida.
Karl Hackenbrack presented the Treasurer's report. A Statement of Cash Receipts, Disbursements and Cash Balance is attached.
Mohammond Abdolmohammadi (Annual Meeting Program Chair) presented a report emphasizing submission and acceptance statistics. Ted Mock (Editor, Auditing: A Journal of Practice and Theory) presented a report emphasizing submission statistics, processing times, and acceptance rates. Jean Bedard (Editor, The Auditor's Report) recognized column editors and solicited contributions from Section members. Arnie expressed the Section's gratitude to each.
Gary Holstrum (Chair, Task Force for Future Audit, Attestation and Assurance Services) provided an update on the activities of the Task Force, described the new subcommittee structure, and outlined future plans. Preliminary subcommittee reports will be available at the Section's 1997 Mid-Year Meeting. Final reports will be available at the 1997 Annual Meeting.
Tom Powell described the activities of the Practice Advisory Committee, including member selection criteria, the Committee's charter and policies, and the Committee's first meeting. Tom then introduced Committee members able to attend the Section's business meeting.
Jane Mutchler pledged to continue the initiatives of prior Executive Committee members. Jane described her broad conception of auditing and the proactive role she envisions for the Section. Jane reviewed a list of committee appointments and a summary of the Section's three year strategic plan (both distributed at the business meeting). Feedback from members was encouraged.
The "Town Meeting" portion of the meeting included discussions on Section co-sponsorship of conferences, the 1997 Mid-Year Meeting, and electronic dissemination of the Section's newsletter and journal. Arnie sought volunteers for the Section's web master position, surveyed member preference for electronic dissemination of the Section newsletter (two-thirds were supportive), and sought volunteers for a communications Task Force.
The meeting was adjourned at 11:20, followed by the Section's luncheon featuring Gaylen N. Larson, member of the Financial Accounting Standards Board, as the keynote speaker.
Submitted by: Karl Hackenbrack Secretary/Treasurer
American Accounting Association Auditing Section Statement of Cash Receipts, Disbursements and Cash Balance (Note 1)
Actual, FY95: 7/1/94 - 6/30/95 |
Budget, FY96: 7/1/95 - 6/30/96 |
Actual, FY96: 7/1/95 - 6/30/96 |
|
RECEIPTS: Membership Dues (Note 2) |
$24,195.37 |
$25,000 |
$25,412.00 |
Journal Subscriptions |
11,577.30 |
16,000 |
12,142.50 |
Sales of Publications |
845.06 |
. |
818.20 |
Journal Submission Fees |
3,600.00 |
. |
5,000.00 |
CPE (net) |
1,110.64 |
1,500 |
1,721.88 |
Reimbursements (Note 3) |
15,523.91 |
25,000 |
13,390.19 |
Mid-year Meeting Registration |
14,740.00 |
15,000 |
17,140.00 |
Miscellaneous Receipts |
(25.00) |
none |
131.23 |
TOTAL RECEIPTS |
$71,567.28 |
$82,500 |
$75,756.00 |
DISBURSEMENTS: Awards |
$438.71 |
$500 |
$1,038.65 |
A:JP&T --Printing/Distribution |
20,513.51 |
30,000 |
30,620.84 |
--Editorial Support (Note 4) |
15,000.00 |
22,500 |
37,500.00 |
Newsletter: The Auditor's Report |
6,208.56 |
6,500 |
9,738.55 |
Mid-year Meeting (Note 5) |
21,096.58 |
25,000 |
34,604.43 |
Miscellaneous (Note 6) |
5,474.31 |
1,000 |
1,993.98 |
TOTAL DISBURSEMENTS |
$68,731.67 |
$85,500 |
$115,496.45 |
Increase (Decrease) |
$2,835.61 |
$(3,000) |
$(39,740.45) |
Beginning Cash Balance |
$63,621.50 |
$66,457 |
$66,457.11 |
Ending Cash Balance |
$66,457.11 |
$63,457 |
$26,716.66 |
NOTES:
Chairperson Arnold Wright Department of Accounting Carroll School of Management Boston College Chestnut Hill, MA 02167 Phone: (617) 552-0876 Fax: (617) 552-2097 Email: wrightar@bcvms.bc.edu Past Chairperson Ira Solomon Department of Accountancy Commerce and Business Administration Univ. of Illinois at Urbana-Champaign Champaign, IL 61820 Phone: (217) 333-3808 Fax: (217) 244-0902 Vice Chair--Academic Jane Mutchler Department of Accounting Smeal College of Business Admin. The Pennsylvania State University University Park, PA 16802-1912 Phone: (814) 863-3569 Fax: (814) 863-8393 Email: jfm5@psuvm.psu.edu |
Vice Chair--Practice Thomas Powell Dir. of Certification & Standards The Institute of Internal Auditors 249 Maitland Avenue Altamonte Springs, FL 32701-4201 Phone: (407) 830-7600 ext. 270 Fax: (407) 831-5171 Email: tpowell@digital.net Secretary/Treasurer Karl Hackenbrack Fisher School of Accounting College of Business Administration University of Florida Gainesville, FL 32611 Phone: (904) 392-8875 Fax: (904) 392-7962 Email: hack@dale.cba.ufl.edu Historian W. Robert Knechel Fisher School of Accounting College of Business Admin. University of Florida Gainesville, FL 32611 Phone: (904) 392-8879 Fax: (904) 392-7962 Email: knechewr@dale.cba.ufl.edu |
MEETING LOCATION: Chicago, Illinois
IN ATTENDANCE: Executive Committee Members: Jane Mutchler, Karl Hackenbrack, Lisa Koonce, Arnie Wright, Barry Cushing, Dennis Schueler, Robert Knechel. Guest: Gary Holstrum (Chair, Future Audit, Attest and Assurance Services Task Force) and Tom Powell (Chairman, Practice Advisory Council).
The meeting was called to order at 7:00 a.m.
Jane Mutchler welcomed the new members of the Executive Committee: Barry Cushing, Lisa Koonce and Dennis Schueler.
Gary Holstrum led a discussion on the progress of the Task Force for Future Audit, Attestation, and Assurance Services. Issues discussed included the purpose of the Task Force and its relationship to the Elliott Committee, the nature and length of the Task Force’s proposed written output, timetable, possible publication outlets (including review mechanisms), and funding sources.
The Executive Committee stressed the importance of the Task Force’s work, but noted that they want to review their output before a decision is made regarding the appropriate forum for dissemination.
Jane Mutchler began a discussion regarding proposals for the Auditing Section to co-sponsor the International Symposium on Auditing Research and the University of Waterloo Symposium on Auditing Research. Issues discussed included financial outlays by the section vs. the conference, conference invitation policies, the role of the Auditing Section in co-sponsoring auditing conferences, the costs and benefits of the Auditing Section co-sponsoring such conferences, and the placement of conference papers on the Auditing Section’s home page. Arnie Wright moved and Dennis Schueler seconded that: The Auditing Section co-sponsor the International Symposium on Auditing Research (ISAR) with the provision that the ISAR cover the direct cost of the Auditing journal supplement and a portion of the indirect editorial costs. With three yes votes and three no votes, the motion did not carry.
Karl Hackenbrack then moved and Arnie Wright seconded that: The Auditing Section not co-sponsor the 1997 University of Waterloo Symposium on Auditing Research. The motion passed with four yes votes, one no vote, and one abstention.
Jane Mutchler led a discussion regarding the Auditing Section’s Outstanding Dissertation Award. She raised the possibility of granting award monies to the award recipient, to the recipient’s chairperson, or to the recipient’s Ph.D. program. After a discussion of this possibility, it was decided to leave the dissertation award as it is currently structured and give a plaque to both the award winner and the dissertation chairperson.
Tom Powell led a discussion of the activities of the Practice Advisory Council (PAC) which met from 2:00 - 4:00 p.m. on August 15, 1996 in Chicago. Issues discussed included the purpose of the PAC, possible opportunities for faculty to work in practice and practitioners to work in academia (with the goal of improving understanding of issues facing practitioners and faculty), and enhancing the awareness of and membership in the PAC. Dennis Schueler reported that Tom Powell agreed to continue to serve as chair of the PAC.
Jane Mutchler raised the possibility of the PAC providing feedback to academics regarding their current research efforts or a PAC panel at the mid-year meeting. Dennis Schueler noted that before these types of activities occur, the current PAC members would like additional time to define their objectives and goals. Tom Powell agreed to provide Jane Mutchler with the PAC’s next meeting date.
Jane Mutchler reported that several individuals expressed an interest in serving as the webmaster for the Auditing Section’s home page. Jane agreed to write a charge and select members for a Communications Committee.
Robert Knechel agreed to create a work plan for the historian component of the Auditing Section’s home page. Robert noted that he was currently collecting historical information.
Arnie Wright reported on the progress of the Membership Committee and provided copies of their proposed brochure. The committee recommended that the brochure be distributed to all new regular and associate members of the AAA. Arnie Wright noted that the likely cost of distributing this to all new members would run between $300-$400 per year. Arnie Wright moved and Karl Hackenbrack seconded that: The Auditing Section adopt and fund the distribution of the proposed brochure. The motion passed unanimously.
Arnie Wright reported that the Education Committee submitted a proposal to the Executive Committee in which Price Waterhouse would sponsor an audit-case competition. The Education Committee’s report raised the possibility of holding the first competition at the 1997 mid-year meeting. Arnie Wright noted that although Price Waterhouse was likely to approve and fund the proposal, they had not yet formally done so. Consequently, it was agreed to pursue the possibility of a case competition to be held sometime after the 1997 mid-year meeting.
Jane Mutchler agreed to write letters to each committee within the Auditing Section, asking them to describe their goals and objectives.
The meeting adjourned at 9:00 a.m.
Minutes submitted by: Lisa Koonce, Secretary
October 21, 1998
