Thank you to the many volunteers that make the Auditing Section a great place to call home. From committee members, moderators, journal editors, officers, presenters, committee chairs, program chairs, discussants, strategic initiative leaders, papers reviewers, and volunteers that do whatever is asked, these are the individuals who make it great for everyone. If you think about it, that covers just about everyone in the Section. Roger Martin, VP-Academic, recently sent a request for committee volunteers for next year; continuing a long tradition of service, I am confident he received a good response.
What all these members have in common is that they are all working toward implementing our mission “To further the discipline and profession of auditing and assurance services through education, research, and research.”
To achieve our mission, we initiated five strategic initiatives:
- Data and Research Fulfillment
- Respect, Voice, and Strategic Relationships
- Membership, Growth, and Involvement
- Education Fulfillment
- Governance and Structure
For the reminder of my letter, I will share some Section’s activities directed toward achieving our strategic initiatives.
Data and Research Fulfillment
Both of our journals continue to be strong with record submission for both journals. At the Executive Committee meeting in Savannah, GA, the EC approved a 5th special edition of Auditing: A Journal of Practice & Theory to publish the synthesis papers being prepared for the PCAOB. Senior Editor Robert Knechel has also announced a call for papers for 5 separate Research Forums during 2012. Additionally, Current Issues in Auditing added a new section on practice summaries and will begin accepting teaching-related articles specific to practice issues.
Thanks to the financial support of Ernst & Young, the Section will host two webinars this spring. Under the leadership of Rick Lillie and Sridhar Ramamoorti, the Vice-Chairs of CPE for the Education and Research Committees, respectively, the first webinar will be hosted on April 20 from 1:00 to 2:00pm EDT and the second webinar will be hosted on May 4 from 1:00 to 2:00pm EDT. Each webinar program will qualify for CPE. The April webinar will be conducted by representatives from the Public Company Accounting Oversight Board and cover potential research topics. The May 4th webinar will cover the proposed changes to COSO’s Internal Control-Integrated Framework. Special thanks to Ernst & Young for providing the significant financial support for our spring webinars!
Respect, Voice, and Strategic Relationships
Auditing Standards Committee
Chair Keith Jones and the Auditing Standards Committee continue to let our voice be heard to the standards setters. Through the first half of the year, the committee issued responses to five exposure drafts.
Under the leadership of Steve Glover, the section assembled 13 academic teams in the fall 2011 to prepare papers synthesizing published academic research on 13 requested topics. The papers were delivered to the PCAOB in early 2012. As well as influencing the standard setting process, the papers will serve as a basis for a special edition of AJPT previously mentioned.
Membership, Growth, and Involvement
2012 Midyear Conference and Doctoral Consortium
Records all around were broken during this year’s Midyear Conference and Doctoral Consortium. Attendance was up by one- third for the conference, paper submissions for the conference were up 40%, and attendance at the Doctoral Consortium was an all-time high. Both events were held in Savannah, GA. Although it got a little chilly as the meeting progressed, the city was a great host.
Thanks to the Conference Planning Committee for a great program, highlighted by plenary speakers Jay Hanson, PCAOB board member, and Harry Markopolos, Madoff whistleblower. Hats off to the Committee Co-Chairs Joe Brazel and Keith Jones for a job well done. Joe and Keith were assisted by Vice-Chairs Jackie Hammersley and Linda Myers, who will Co-Chair the 2013 Midyear Conference. With the record paper submissions they were very busy—great job! As I mentioned in my first paragraph, many thanks to everyone who volunteered in any one of the numerous conference roles to support the success of the meeting. Next year’s Midyear Conference will be held in New Orleans on January 18-19.
Likewise, with record attendance, Jean Bédard did an outstanding job as Doctoral Consortium Coordinator. Jean was assisted by Robert Knechel, Vice-Coordinator, and next year’s Coordinator. The purpose of the Doctoral Consortium is to stimulate student’s 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. Thanks to all the researchers and editors for your contribution to a successful consortium.
The Section is most appreciative for the continued support from the KPMG Foundation for the Midyear Conference and the Doctoral Consortium. Thank you KPMG Foundation!
Audit Educator’s Bootcamp a Sell Out
Once again the Audit Educator’s Bootcamp sold out in a few weeks. The fourth bootcamp will be held in the offices of Ernst & Young in Chicago on June 19-21. Many thanks to Frank Buckless and Christine Earley for developing and leading this year’s bootcamp. We are also grateful to Ernst & Young for hosting us this year.
2012 Audit Education Workshop
In conjunction with the 2012 Midyear Conference, almost 60 members attended the Audit Education Workshop that was held the day before the Midyear Conference began. Urton Anderson coordinated this year’s workshop. Mark Beasley and Paul Walker shared best practices for incorporating enterprise risk management into a curriculum, Thomas Weirich demonstrated an inventory observation case (including videos) that he uses in the classroom and Veronica Johnson and Margaret Christ shared tools for introducing internal auditing into a financial auditing class. Thanks to IDEA Data Analysis Software and Audit Analytics for sponsoring the workshop.
Governance and Structure
By-laws Proposals Passed
Our proposed by-laws changes were supported by 98% of the members voting. The by-laws were amended to bring them in compliance with the AAA by-laws changes that were voted into effect in 2011 and to make some minor housekeeping changes. Thank you for voting.
You elected the following new officers who will join the Executive Committee in August 2012:
VP Academic: Mark Taylor, Case Western Reserve University
VP Practice: Darrel R. Schubert, Ernst & Young
Secretary: Jacqueline Hammersley, The University of Georgia
Council Representative: Audrey Gramling, Kennesaw State University
We appreciate each new officer’s willingness to serve and thank the outgoing officers for their significant contribution to the Section. During the Midyear Conference, I announced that Larry Rittenberg was stepping down as Historian upon his retirement. Many thanks to Larry for all the service he has provided to the Section. Mark Beasley has agreed to be our next Historian. Best wishes to Larry and thank you Mark.
As with any academic year, the year has flown by and we will be in Washington DC participating in the AAA Annual Meeting before you know it. This year’s meeting will be held on August 4-8. Our section’s meeting Director is Marsha Keune with Co-Directors Chan Li and Mark Zimbelman. They are assembling a great program; please join us at the meeting and for the Auditing Section luncheon on August 6th. We are attempting to take advantage of our location and get a luncheon speaker from the Washington DC area. Stay tuned for details.
Thanks for a great year and see you in Washington DC.