My remarks are organized into three primary areas: by-law changes; annual meeting activities; and an overview of accomplishments over the past academic year. I will then conclude with some personal observations and comments.
By-Law Changes
The final date for voting on the three proposed By-Law changes for the Auditing Section was May 15, 1996. The proposed changes along with supporting reasons for each appeared in the Winter issue of The Auditor's Report. The votes for and against the three proposals are given below:
| Votes for | 40 |
| Votes against | 1 |
| Votes for | 38 |
| Votes against | 3 |
| Votes for | 41 |
| Votes against | 0 |
These results are overwhelmingly in support of the proposed By-Law changes (requiring a two-thirds vote) and, thus, they are adopted. The most immediate effect of this change is that we will be electing a Secretary at the Business Meeting in August with Karl Hackenbrack, our existing Secretary/Treasurer, to assume the role of Treasurer.
Annual Meeting Activities
Mark your calendars and plan to attend our Business and Town Meeting to be held on Thursday, August 15 from 10:15 - 11:45 a.m. and our luncheon on the same day from 12:00 - 2:00 p.m. in conjunction with the AAA Annual Meeting in Chicago. At the Business Meeting we will be following a new, more formalized voting procedure for the election of officers whereby members of record will receive a numbered ballot. As in previous years, reports will be provided of various activities and achievements of the Section, and the elections of officers will take place. Additionally, following the Business Meeting we will hold a Town Meeting where members are encouraged to ask questions of the Executive Committee and provide suggestions. Your involvement and voice in the activities of the Section are vital, and, thus, I strongly urge you to attend the Business and Town Meeting.
I am very pleased to announce that the keynote speaker at our luncheon this year will be Mr. Gaylen Larson, currently a director with Coopers & Lybrand. Mr. Larson has an illustrious career in both private and public accounting. He was with Household International for 15 years in various positions, including Group Vice President and Chief Accounting Officer. He was also previously a partner in another Big 6 accounting firm where he spent 18 years serving audit, tax and consulting clients. Recently Mr. Larson has served as the chair of the Committee of Sponsoring Organizations of the Treadway Commission (COSO). Of special note, Mr. Larson has recently been appointed as a member of the Financial Accounting Standards Board where he will serve a five-year term beginning on July l. Mr. Larson will structure his remarks around his observations and concerns from the perspective of one who has not only chaired COSO and is on the FASB, but also from the perspective of a person with experience as a preparer, attestor and as a user. We are very fortunate to have someone of Mr. LarsonÕs stature to provide our keynote presentation. DonÕt miss what I am confident will be a very provocative, insightful session!
This issue of the newsletter also includes a listing of the numerous panel and research sessions planned for the Annual Meeting. I would like to thank Mohammad Abdolmohammadi (affectionately called "Ali" by all of us who know him) for his hard work in putting these excellent sessions together.
Accomplishments Over Past Year
As usual, the Section has been involved in a number of significant activities, of which I will provide a brief overview ("whet your appetites"). We have made progress on a number of fronts that fit within the general theme of improving "communications" that I adopted this year. First, as many of you know, under the direction of Mike Groomer the Section's Home Page (http://www.indiana.edu/~audsec) is up and running and provides an important communication link for our members. We are just beginning to identify and take advantage of the many potential opportunities this form of communication affords. For instance, in a pilot project, this and the next two issues of the newsletter will also be made available on the Home Page, making this important information available to members on a more timely basis than before, particularly for our international members. If you haven't yet "surfed" our Home Page, please do so. I know that you will be impressed. I also encourage those who regularly consult our Home Page to provide your suggestions and comments to either Mike Groomer (Indiana University) or to me.
Second, the Research Committee, chaired by Dave Ricchiute, is currently studying ways to improve the communications of research findings to those in practice. Lastly, Andy Barnett is heading up a task force to compile instructional materials to facilitate use in the classroom of the recent Section Monograph Auditing Practice, Research and Education: A Productive Collaboration. As you know from my earlier messages, I am particularly concerned that generally we do not do a good job in communicating to students the role and importance of auditing research. The monograph provides a unique, valuable resource in this regard but does not contain any accompanying instructional materials (e.g., discussion questions). The materials obtained by this task force will be made available on the Home Page with a target date to coincide with the Annual Meeting. If you have used the monograph in your auditing classes, please contact Andy (San Diego State) and share with him approaches/materials you have used that were successful in enhancing student knowledge and interest.
Another significant activity during the year was the Mid-Year Meeting held in San Antonio. This meeting drew record attendance and provided a very high quality program. Based on this year and last year's success, there is little doubt that the Mid-Year Meeting is an important activity for our members. Lastly, I would like to briefly mention a few other important activities of the Section. The Future Audit, Attestation and Assurance Services Task Force, chaired by Gary Holstrum, continues to examine the practice, research and educational issues/implications associated with the proposed expansion of services being considered by the AICPA Special Committee on Assurance Services. The task force will provide an update of their activities at our Business Meeting; they are scheduled to disseminate a final report in August 1997. The Membership Committee, headed by Eric Hirst, has put together a Member Information Sheet outlining the objectives and activities of the Section for distribution to prospective and existing members. Finally, consistent with our movement towards greater use of technology, Robert Knechel, our Historian, is currently putting our Section Operating Manual in electronic form.
Final Notes
As my term as chairperson draws to a close, I would once again like to thank you, the members, for your trust in electing me to this position. It has been a very busy, hectic and, in my view, productive year. I hope that I have met your trust and expectations. I would also like to thank the other members of the Executive Committee, who I enjoyed working with and relied on a great deal during this past year. Lastly, a special thanks to committee/task force chairs and members and the editors of the Auditing: A Journal of Practice & Theory and this newsletter for their important contributions to the Section. In the end, we are blessed to have a tremendous wealth of talent and willingness to serve among our members.
Arnold M. Wright, Chair, Auditing Section
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Auditor's Report, Summer, 1996