The Auditors Report

Report of the President

D. Scott Showalter
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2012 Auditing Section Conference

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Auditing: A Journal of Practice and Theory — Special Calls

2012 ISAR

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Spring 2012 Issue Deadline

The deadline for material to be included in the Spring 2012 issue of The Auditor's Report is February 28, 2012. The preferred format is a Word file attached to an e-mail message. We are also open to any proposals for materials that anyone would like to submit. Please send all material and proposals to the incoming Editor at the address below by February 28, 2012, to ensure timely publication of the issue:

Gary Peters, Editor
Sam M. Walton College of Business
Department of Accounting
University of Arkansas
Business Building 448
1 University of Arkansas
Fayetteville, AR 72701-1201
gfpeters@walton.uark.edu

D. Scott ShowalterJust as we enter the fall semester with excitement and expectations, we also begin the next year for the Auditing Section and our members with a similar level of expectations. As I mentioned during our luncheon in Denver, the Auditing Section is the best section. Our members are the best and they demonstrate it every day. Our members are active within the section, supporting each other, and in contributing to the advancement of the profession. Whether you are an EC member, committee member, task force member, program chair, journal editor, reviewer, moderator, discussant or an individual who willingly volunteers to fulfill any requested role, the extent of volunteerism is impressive. Thanks to everyone for your efforts.

As we enter the new year, my excitement revolves around advancing the strategy we revealed in January during the midyear conference. To date, the response from the membership has been positive and, under Steve Glover's leadership, much progress has been made on moving our strategic initiatives forward in achieving our vision for the section. We will achieve our vision through implementing the following five strategic initiatives:

Data and Research Fulfillment
Respect, Voice, and Strategic Relationships
Membership, Growth, and Involvement
Education Fulfillment
Governance and Structure

These strategic initiatives include the many great activities the section has provided in the past as well as identifying new opportunities to serve our broadening membership. For additional information on our strategy, I encourage you to read the Auditing Section Roadmap document posted on our website. Soon after the annual meeting, I held conference calls with committee chairs to discuss how their respective committees can support our vision and strategic initiatives. Their response, to date, has been impressive. Their efforts will benefit all our members. I mentioned our great members earlier; I would be remiss if I didn't acknowledge some significant contributions by our members. First, thanks to Steve Glover for his significant leadership as President during the past year. The section is in a better position due to his efforts and leadership. His leadership is tireless. The annual meeting also marked the end of the terms on the Auditing Section Executive Committee for Urton Anderson, Past President (and before that as VP Academic and President) and Chris Hogan, Treasurer. These EC members contributed countless hours to the success of the section. We owe them a big thank you. The 2011 AAA Annual Meeting in Denver was a great success thanks to the leadership of Karla Johnstone and Marsha Keune as annual meeting directors. Great job. Also contributing to the success of the annual meeting were the hundreds of reviewers of submitted papers, moderators and discussants. These behind the scenes roles provide real value to our members. Finally, please welcome our new EC members, Roger Martin, VP-Academic and Karla Johnstone, Treasurer.

2011 Annual Meeting Denver, CO
This year, there were many opportunities provided for Auditing Section members who attended the 2011 annual meeting in Denver. Of the 176 papers submitted, 141 papers were presented at concurrent, dialogue, interaction and new scholar sessions. The Section also sponsored 5 panel sessions. In addition, the CEO from PWC, Bob Mortiz, engaged our membership in an open dialogue during Monday's luncheon. Bob provided a frank look into issues facing the accounting profession.

In addition, for the third consecutive year, The Center for Audit Quality (CAQ) held a half-day symposium to facilitate dialogue between the profession and audit scholars. Over 70 participants attended: approximately one-half academics and one-half leading professionals from practice, including 3 CEO's from the larger accounting firms. The symposium consisted of two panels. The first panel, moderated by PwC CEO Bob Mortiz, discussed the ongoing CAQ efforts surrounding the Future Role of the Auditor. The second panel moderated by Stephen Chipman, CEO from Grant Thornton, highlighted how academic research on use of nonfinancial measures may address issues facing the profession on assessing fraud risk. In addition to the panels, there were open table discussions about how academic research can inform practice.

This brings us to some exciting upcoming events.

2012 Midyear Conference, Savannah, GA
Make plans to attend the Eighteenth Annual Auditing Section Midyear Conference to be held in Savannah, Georgia on January 12-14, 2012. This year's program chairs, Joe Brazel and Keith Jones, are working hard for all our members to have an informative conference. Similar to previous years, the meeting will include two keynote plenary speakers and concurrent sessions dealing with a wide variety of contemporary topics related to audit and assurance research, practice, and education. The Friday morning plenary session will feature an open discussion with recently-appointed PCAOB Board member Jay D. Hanson. The Saturday morning plenary session will feature a presentation by Madoff whistleblower Harry Markopolis. With paper submissions up 30% from last year, we are anticipating a full house. Please register early.

This year's program will again include a pre-conference Audit Education Workshop on Thursday afternoon beginning at 1:00 pm. This year's workshop is being coordinated by Urton Anderson. The purpose of this Workshop is to bring together audit educators and leaders from the accounting profession to discuss emerging issues related to audit education. The workshop will focus on the role of enterprise risk management and internal and external audit in effective organizational governance. New cases and teaching materials will be discussed and provided that can be used to introduce these topics in introductory audit or advanced auditing courses.

The 13th Annual Auditing Section Doctoral Consortium will be held on January 12th, preceding the Midyear conference. The chair of this year's Consortium is Jean Bédard. The purpose of the Consortium is to stimulate students' research by exposing them to the latest ideas from leading researchers in auditing, and by providing opportunities for networking with other Ph.D. students, established auditing researchers, and journal editors. The Consortium is open to all Ph.D. students who have an interest in auditing research. Students may be at any stage in their program. There is a limit on the total number of students who can attend the Consortium, and a maximum of four students from any one university may attend. Applications will be accepted on a first-come, first-served basis.

Thanks to The KPMG Foundation for their continued support for the Midyear Conference and Doctoral Consortium.

I hope to see everyone in Savannah.

2012 Audit Educator Bootcamp
The Audit Educator Bootcamp continues its sold out performance. The participant evaluations confirm the value received from participating in the bootcamp. The bootcamp provides audit educators with an overview of current practice issues and contemporary audit methodologies of a number of large audit firms. The uniqueness of the instructors experienced in teaching firm audit methodologies and the leading audit professionals from various firms adds significant value to the 3-day bootcamp. Thanks to Frank Buckless, North Carolina State University, and Christine Earley, Providence College, who served as primary instructors in 2011 and are on slate to be primary instructors in 2012. The 2012 bootcamp will be held in Chicago on June 19-21 at EY's offices. We are very grateful for EY's support of the bootcamp.

Webinars
The Research and Education Committees will continue providing professional education through our webinar series. Our next webinar will once again be a joint effort with the CAQ. The topic will continue a topic introduced at the CAQ symposium held in conjunction with the AAA annual meeting — Exploring the Role of the Auditor. Keep on the lookout for an announcement about the next webinar; many thanks to Rick Lillie for his continued leadership with our webinar series.

Which brings me back to where this message began — have a great semester!