The Auditors Report

Report of the President

Mark Peecher
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ASB Update

GAO Update

PCAOB Standards
Update

Status of
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Call for Submissions
Fifteenth Annual Midyear Auditing Section Conference

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Summer 2008 Issue Deadline
The deadline for materials to be included in the Fall 2008 issue of The Auditor's Report is September 30, 2008. The preferred format is a Word file attached to an e-mail message. We also are open to any proposals for materials that anyone would like to submit. Please send all material and proposals to the Editor at the address below by September 30, 2008, to ensure timely publication of the issue:

Duane M. Brandon, Editor
Auburn University
301 Lowder Business Building
Auburn, AL 36849
Phone: (334) 844-6215
Email:
branddm@auburn.edu

The address of the Auditing Section's Home Page on the
World Wide Web is:
http://aaahq.org/audit/index.htm

Mark PeecherIt has been a true honor to serve as president and to work alongside so many of you. I look forward to continuing to serve once Audrey Gramling takes over as our new president in August.  As my term winds down, I thank all of you for being so willing to actively participate in leadership roles.  Despite extremely busy schedules, you have time and again said “yes” when asked to consider serving your colleagues, even though saying yes often requires significant devotion, time and expertise. 

In the rest of this letter, I summarize some recent developments and announcements and preview our meetings in Anaheim and St. Petersburg.

2008 PCAOB Symposium
In late April, the PCAOB hosted its fourth annual symposium at the Army-Navy Club in Washington, DC.  Invitees included selected persons from our Section, the broader AAA, FASB, GAO and the SEC.  The set of invitees collectively represented at least 27 different colleges or universities as well as a well-rounded set of research paradigms and methods.  The symposium featured numerous open and lucid interactions amongst attendees, who also included several thought leaders from the PCAOB.  As a result of such dialogue, I believe this event helped improve nearly everyone’s understanding of pressing topics such as the PCAOB inspections process, auditing of fair value, international financial reporting standards, the future of the auditing profession, and the future of auditing research. On behalf of our Section, I want to express our sincere thanks to Gary Holstrum, Tom Ray, and Greg Scates for their work in continuing the collaboration between the Auditing Section and the PCAOB.  I am most pleased to announce that I have come to learn that planning for the 2009 symposium is already underway!

New AJPT Editor and Editorial Team 
This summer (June 2008) marks the traditional transition to a new Editor and Editorial Board at Auditing: A Journal of Practice and Theory. As such, I want to thank Dan Simunic for his dedicated service as outgoing Editor as well as each one of his set of expert Associate Editors: Jere Francis, Ferdinand Gul, Kathryn Kadous, Rachel Schwartz, Mike Stein, Ken Trotman, and Marleen Willekens.  Your stewardship in assessing paper and providing feedback to authors has been invaluable. 

At the same time, I want to once again extend a warm welcome to Ken Trotman as new AJPT editor.  I would note that Ken already has been successful as Editor in that he too has amassed a wonderful set of Associate Editors:  Michael Bamber, Jean Bedard, Chris Hogan, Robert Knechel, and Clive Lennox.  With Ken’s leadership and this superb set of AE’s the Section can rest assured that AJPT will continue as a premier journal.

Be Sure to Vote! 
As you probably already know, the Section is most fortunate that Shaun Budnik, Deloitte & Touche USA and president of the Deloitte Foundation has agreed to run for the office of Vice President-Practice this summer.  Voting is ongoing through July 20.  Click Here for the ballot. The link was also provided in a related email message from me dated June 20, 2008. 

Nominations welcomed (and needed!) 
Our Section has so many members who are deserving of strong consideration for leadership officer position and/or for one or more of our awards.  The Nomination Committee, Executive Committee, and various Award Committees would appreciate the chance to consider a rich set of members during their deliberations.  As such, please consider providing your nominees for two officer positions (Treasurer and V.P. Academic). Please send your nominations to me right away, before July 1 by email to peecher@uiuc.edu, as we will be holding elections for these two offices this fall.

Also, If you know someone who would be a deserving nominee for one of the Section’s awards (i.e., Notable Contribution, Outstanding Dissertation, Innovation in Auditing and Assurance Education Award, Distinguished Service Award, Outstanding Auditing  Educator Award), please take a moment to submit your nomination to Audrey Gramling by email to agramli1@kennesaw.edu. She needs your nomination no later than July 15! Details about each award are posted on our Section’s website.

Finally, we are also soliciting nominations to serve a three-year term  (beginning 3, 2009) as co-editor of Current Issues in Auditing. The nominee should have a good overall knowledge of developments in the topics covered by the journal and a dedication to its editorial philosophy.  Please submit nominations to Ray Whittington via email to rwhittin@depaul.edu no later than October 1, 2008.

AAA Annual Meeting — August 5–8, 2007 
I hope plan to join us at the AAA's 2008 Annual Meeting.  The meeting’s theme is “Building our Accounting Community, and it will be held August 3rd-8th in Anaheim. Chris Hogan, the Auditing Section's Annual Meeting Coordinator, is expertly heading up our program at the AAA meeting, with the assistance of Tim Louwers. Over 150 research and education-related papers were submitted for the Section's sponsored concurrent sessions. We are indebted to many of you who served as reviewers of these papers.

Our annual Section luncheon will be held Monday, August 4. I am pleased to announce that this year's luncheon speaker will be our own Shaun Budnik, who will bring us her unique perspective about how audit academics and practitioners can collaborate.

I also would highlight that one of our Section’s most dedicated members, Zoe Vanna Palmrose, will be a plenary speaker at the Annual Meeting.  She will speak on Tuesday about, “Science, Politics, the Media, and Accounting: Perspectives from the Potomac.” 

I hope to see you at both of these talks and other Section activities at the Annual Meeting! 

2009 Auditing Section's Midyear Conference 
Brian Ballou and Chris Hogan are working hard to coordinate the Midyear Auditing Section Conference to be held January 15–17, 2009 at the Hilton Bayfront in St. Petersburg, FL. The deadline for paper submissions and session proposals is September 1, 2008. A Doctoral Consortium will be held on January 15, and we will also be offering our second-ever Excellence in Audit Education workshop as part of the conference.  Mark Zimbelman is serving as the Doctoral Consortium Chair and Ray Whittington is heading up the Excellence in Audit Education workshop. For more information, please check the Section's website.

Outgoing and Incoming Officers 
I would be remiss if I were to conclude this report without expressing my deepest thanks to the outgoing officers. It has been a genuine privilege to have served with and learned from Ray Whittington (Past-President), Trevor Stewart (Vice-President Practice) and Julia Higgs (Secretary). They will rotate off the Executive Committee at the August AAA meetings. Each of these individuals has worked diligently on our behalf.  While we will miss their contributions going forward, we are elated to welcome three new members of the Executive Committee:
Urton Anderson — (Vice President – Academic),
Jay Thibodeau (Secretary), and
Jean Bedard (Historian).

See you in Anaheim!