MEETING DATE: August 17, 1997
MEETING LOCATION: Dallas, Texas
IN ATTENDANCE: Executive Committee Members: Jane Mutchler, Barry Cushing, Arnie Wright, Karl Hackenbrack, Lisa Koonce, Dennis Schueler, Robert Knechel. Guests: Mike Groomer (Chairperson of the Communications Task Force), James Thompson (Institute of Internal Auditors), Bill Messier (Chairperson of the 1998 Mid-Year Meeting Program Committee), Stan Biggs (Chairperson-Elect of the Mid-Year Meeting Program Committee), Andy Bailey (Chairperson of the ASOBAC Revision Feasibility Committee), Tom Powell (Chairperson of the Practice Advisory Council), Jack Krogstand (Incoming Section Historian).
The meeting was called to order at 9:05 a.m.
Arnie Wright led a discussion about suggested wording changes to the Policy Statement and Procedures for the Co-Sponsorship of Auditing Symposia. Karl Hackenbrack led a discussion about the possibility of the Section requiring a submission fee for papers submitted to co-sponsored conferences. Karl Hackenbrack moved and Lisa Koonce seconded that: Should the Executive Committee decide that the proceedings of a co-sponsored conference (or portions thereof) be published in Auditing: A Journal of Practice and Theory, then normal submission fees to AJPT are applicable. The motion passed unanimously.
Karl Hackenbrack moved and Dennis Schueler seconded that: The Policy Statement and Procedures for the Co-Sponsorship of Auditing Symposia be approved with minor editorial revisions. The motion passed unanimously.
Barry Cushing led a discussion about a possible change in the Outstanding Dissertation in Auditing Award and Related Chair Award Policy Statement. Arnie Wright moved and Karl Hackenbrack seconded that: The Policy be modified to state that an announcement of the Outstanding Dissertation Award should be made in the Fall issue of The Auditors’ Report. The motion passed unanimously.
Barry Cushing led a discussion regarding the need to change the Section By-Laws for five items. The first two were necessary due to changing the timing of the officer elections from the Annual to the Mid-Year business meeting. Specifically, the first change reflected the fact that a newly elected officer will begin serving his or her term at the time of the Auditing Section luncheon at the Annual Meeting of the AAA (and not immediately upon election). The second change reflected the fact that the Nominating Committee will present to the Secretary the officer nominations three weeks before the Section’s annual business meeting (and not the annual meeting). The third was a change in the quorum rule due to the separation of treasurer and secretary positions. The fourth clarifies the role of the Historian as an ex-officio, non-voting officer. The fifth raises the maximum Section dues from $15 to $30. Dennis Schueler moved and Barry Cushing seconded that: The Executive Committee will submit to the Auditing Section membership the first four items of the proposed by-laws changes. The fifth suggested by-law change will not be submitted to the Section membership. The motion passed unanimously.
The fifth suggested by-law change pertained to a motion that was passed at the January 23, 1997, Executive Committee meeting. That motion proposed that the Section membership vote on a by-laws amendment to increase the maximum annual dues from $15 to $30. Karl Hackenbrack moved and Barry Cushing seconded that: The January 23, 1997 approved motion to submit to the Section membership a by-laws change pertaining to an increase section dues be revoked. The motion passed unanimously.
The Committee agreed to discuss the four proposed by-law changes at the August 18, 1997, Business and Town Meeting and conduct a mail vote via the 1997 The Auditors’ Report. The deadline for the vote will be December 1, 1997.
Mike Groomer, Chairperson of the Communications Task Force, led a discussion about the recommendations of the Task Force, including their proposal to transition The Auditors’ Report from hard-copy to electronic (website) form beginning in the Spring of 1998. Karl Hackenbrack moved and Dennis Schueler seconded that: The Fall 1997 issue of The Auditors’ Report will be the last paper copy of the report. Beginning in the Winter 1998, The Auditors’ Report will be distributed electronically via the Section’s homepage. Members will be notified of the electronic publication of The Auditors’ Report and will be able to request a hard copy of the Report in the Winter of 1998. The motion passed unanimously.
Barry Cushing moved and Dennis Schueler seconded that: A Communications Standing Committee be formed to deal with electronic communications issues of the Section. The motion passed unanimously.
James Thompson from the Institute of Internal Auditors discussed the Institute’s Board of Research Advisors’ research priority entitled Independence and Objectivity: The Intricate Responsibility of the Internal Auditor. He discussed the possibility of obtaining the Auditing Section’s assistance in finding a research team to conduct this proposed research.
Jane Mutchler then led a discussion as the whether the Section should be affiliated with and act as a liaison to assist in locating researchers for the Institute’s research priority. Issues discussed included the manpower needs of both this research document and the proposed A Statement of Basic Auditing Concepts document. Karl Hackenbrack moved and Dennis Schueler seconded that: The Committee will identify a team of researchers who will independently write a proposal for the Institute of Internal Auditors’ proposed Independence and Objectivity research project. If the proposal is accepted, the Committee will appoint an ad hoc committee that will monitor the progress of the research, interact with the Institute of Internal Auditors’ Board of Research Advisors, and review the research team’s output. It is expected that this document will be published under the joint auspices of the Institute of Internal Auditors and the Auditing Section. The motion passed unanimously.
It was agreed that Jane Mutchler would lead the Committee in generating the names of possible researchers. Dennis Schueler agreed to serve as chair of an ad-hoc committee to review the quality of the research document, if the research project proceeds.
Barry Cushing presented a document describing the structure and charges of the Section’s various standing committees. Barry then solicited the Executive Committee’s input about the document. The Committee agreed that the revised committee document be accepted and included in the Section’s operating manual to assist committee chairs in understanding the structure and charges of their committees.
Bill Messier, Chairperson of the Mid-Year Program Committee, discussed the plans for the 1998 Mid-Year meeting in Mesa, Arizona, including the timetable for the paper submissions, paper acceptances, and other issues related to the conference.
Stan Biggs, Chairperson-Elect of the Mid-Year Program Committee, presented his report on the 1999 Mid-Year Meeting hotel search that he and Barry Cushing conducted in Atlanta. Barry Cushing and Stan Biggs recommended that based on room pricing and conference facilities, the Section’s 1999 Mid-Year Meeting be held at the Omni Hotel at CNN Center in Atlanta on January 14-16, 1999. Dennis Schueler moved and Arnie Wright seconded that: The Executive Committee accept the report by Stan Biggs, Mid-Year Program Chair for 1999. The motion passed unanimously.
Andy Bailey, Chairperson of the A Statement of Basic Auditing Concepts (ASOBAC) Revision Feasibility Committee, presented his Committee’s report. Discussion centered around report funding, potential authors, and timetable. Dennis Schueler moved and Karl Hackenbrack seconded that: The ASOBAC Committee report be accepted and the consideration of a revised ASOBAC monograph be reconsidered at a later date. The motion passed unanimously.
Tom Powell reported on the progress of the Practice Advisory Council (PAC) and discussed the issues that they were currently addressing. He reported that the next PAC meeting would be at the 1997 Mid-Year Meeting. Tom Powell and Dennis Schueler agreed to prepare a half-page summary of the PAC’s activities for inclusion in the Fall 1997 The Auditors’ Report and that such reports be included as a regularly appearing column in The Auditors’ Report.
Karl Hackenbrack reviewed the Section’s financial activity for the period July 1, 1996 through June 30, 1997 (attached). Dennis Schueler moved and Barry Cushing seconded that: The Treasurer’s report be accepted. The motion was passed unanimously.
Jane Mutchler led a discussion on the feasibility of having a Price Waterhouse sponsored case competition at the Mid-Year meeting. Due to the large number of cases that are now publicly available, it was agreed to forego a case competition at the 1997 Mid-Year meeting.
The meeting adjourned at 4:55 p.m.
Submitted by: Lisa Koonce, Secretary
Actual, FY96: 7/1/95 - 6/30/96 |
Budget, FY97: 7/1/96 - 6/30/97 |
Actual, FY97: 7/1/96 - 6/30/97 |
Proposed Budget, FY98 |
|
RECEIPTS: Membership Dues (Note 2) |
$25,412.00 |
$25,000 |
$23,970.00 |
$24,000 |
Journal Subscriptions |
12,142.50 |
16,000 |
13,072.00 |
20,000 |
Sales of Publications/Royalties (Note 3) |
818.20 |
. |
4,608.13 |
. |
Journal Submission Fees |
5,000 |
. |
4,450.00 |
. |
CPE (net) |
1721.88 |
1,500 |
1,204.45 |
1,500 |
Reimbursements (Note 4) |
13,390.19 |
17,500 |
24,754.35 |
7,500 |
Mid-year Meeting Registration |
17,140.00 |
18,000 |
16720.00 |
|
Miscellaneous Receipts |
131.23 |
none |
none |
none |
TOTAL RECEIPTS |
$75,756.00 |
$78,000 |
$88,780.93 |
$53,000 |
DISBURSEMENTS: Awards |
$1,038.65 |
$500 |
$728.14 |
$750 |
A:JP&T --Printing/Distribution |
30,620.84 |
23,000 |
13,255.14 |
34,000 |
--Editorial Support |
37500.00 |
15,000 |
15,000.00 |
15,000 |
Newsletter: The Auditor's Report |
9,738.55 |
8,000 |
6,877.22 |
7,000 |
Mid-year Meeting |
34,604.43 |
33,000 |
23,828.78 |
|
Miscellaneous (Note 5) |
1,993.98 |
1,000 |
1,587.39 |
1,500 |
TOTAL DISBURSEMENTS |
$115,496.45 |
$80,500 |
$61,276.67 |
$58,250 |
Increase (Decrease) |
$(39,740.45) |
$(2,500) |
$27,504.26 |
$(5,250) |
Beginning Cash Balance |
$66,457.11 |
$26,716 |
$26,716.66 |
$54,221 |
Ending Cash Balance |
$26,716.66 |
$24,216 |
$54,220.92 |
$48,971 |
NOTES:
Miscellaneous disbursements for fiscal 1997 include $729.48 for miscellaneous postage, $311.80 for miscellaneous annual meeting costs, $256.95 for maintenance of the Section’s home page, and $231.29 for miscellaneous printing.
MEETING DATE: August 18, 1997
President Jane Mutchler welcomed approximately 90 members to the Auditing Section’s Business and Town Meeting on August 18, 1997.
Arnie Wright presented nominations for the positions of Vice President-Academic and Treasurer. There were no nominations from the floor. Tim Bell was elected Vice President-Academic and Joe Carcello was elected Treasurer.
Karl Hackenbrack, Treasurer, reviewed the Section’s financial activity for the period July 1, 1996 through June 30, 1997. A Statement of Cash Receipts, Disbursements and Cash
Balance is attached to the August 17, 1997, Executive Committee minutes.
Bill Felix (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. Jean also reported that the newsletter would only be in electronic form beginning with the Winter edition.
Bill Messier, Mid-Year Program Chairperson, reported on the progress of the 1998 Mid-Year Meeting which is to be held in Mesa, Arizona from January 22-24.
Morley Lemon, Chairperson of the Education Committee, reported on the progress of the Committee and asked that Section members complete a survey on the education needs of members.
Stan Jenne, Chairperson of the Membership Committee, reported on Section membership. He reported that the Auditing Section was the second largest section in the AAA.
Jane Mutchler, President, described the role of the Practice Advisory Council and its relationship with the Auditing Section.
Barry Cushing pledged that his primary initiative while President of the Auditing Section would be to enhance the involvement of practitioners in the Section. To facilitate their involvement, Barry discussed the possibility of moving the Mid-Year Meeting to early January to avoid their "busy season." He also reviewed the Section’s activities for the upcoming year and proposed several by-law changes which would be voted on by mail via The Auditors’ Report..
The "Town Meeting" portion of the meeting included discussions on the role of controls in organizations, the feasibility of having email notification of the electronic publication of The Auditors’ Report, and how to measure the success of involving practitioners in Section activities.
The meeting was adjourned at 11:55 a.m., followed by the Section's luncheon featuring David Landsittel as the keynote speaker.
Submitted by: Lisa Koonce, Secretary
MEETING DATE: August 19, 1997
MEETING LOCATION: Dallas, Texas
IN ATTENDANCE: Executive Committee Members: Barry Cushing, Tim Bell, Jane Mutchler, Joe Carcello, Lisa Koonce, Dennis Schueler, Jack Krogstad. Guests: Tom Powell (Chairman of the Practice Advisory Council).
The meeting was called to order at 7:10 a.m.
Barry Cushing welcomed the new Executive Committee members: Tim Bell, Joe Carcello, and Jack Krogstad.
Barry Cushing led a discussion regarding the need to have liaisons between the Auditing Section President and the various Auditing Section committees. It was agreed that various members of the Executive Committee would serve this role. Specifically, they would keep in contact with appointed Section Committee chairpersons to ensure that they were fulfilling their charges and responsibilities and report to the Executive Committee on their activities. Attached to these minutes is a listing of the Section Committee Liaison Assignments.
Joe Carcello led a discussion about whether he should resign from the three-year appointment as Annual Meeting Program Director in light of his recent election as Section Treasurer. It was agreed that Joe would continue as Annual Meeting Program Director.
Barry Cushing reviewed the 1998 appointments to various Section Committees that the President-Elect, Tim Bell, would need to make within the coming year.
Jane Mutchler, Chairperson of the Nominations Committee, reported that nominations were needed for the positions of Vice-President-Practice, Vice-President-Academic, and Secretary. The Committee agreed to move quickly in forwarding names to Jane as the nominees and their backgrounds must be included in the Fall 1997 The Auditors’ Report.
Tom Powell discussed the meeting of the Professional Relations Committee (PRC) on Monday, August 16, 1997. This American Accounting Association (AAA) Committee discussed the possibility of having a committee like the Auditing Section’s Practice Advisory Council (PAC) at the Association level. Tom reported that the PRC concluded that such a committee would not work well at the level of the AAA.
Barry Cushing led a discussion about the possibility of changing the Section’s name to reflect the movement towards broader assurance services. The Committee concluded that a name change was not necessary at this time.
Barry Cushing discussed the strategic planning session scheduled for Wednesday, January 21, 1998, at the 1998 Mid-Year meeting. Mike Moore of Ernst & Young was to lead the strategy session in which all Executive Committee members would be in attendance.
Jane Mutchler discussed the Section’s participation in the Institute of Internal Auditors’ proposed research on Independence and Objectivity. It was agreed that the Committee would forward to Jane the names of possible researchers for the project. It also was agreed that Jane Mutchler would serve as project director for the research team, if the project proceeds.
Barry Cushing led a discussion regarding his initiatives for the 1997-98 year. Issues discussed included the need for a column in The Auditors’ Report on the practical implications of academic auditing research, more practitioner participation in the Section, and more Mid-Year and Annual Meeting sessions where practioners and academics team together to make practice/research presentations.
Jack Krogstad discussed the need to get students more involved in the Section, including membership. He also discussed the need to get the Auditing: A Journal of Practice and Theory into the hands of more practitioners.
The meeting was adjourned at 8:55 a.m.
Submitted by: Lisa Koonce, Secretary
President
Vice-President - Academic
Vice-President - Practice
Past President
Secretary
Treasurer
October 21, 1998
