The Auditors Report

Report of the President

Ray Whittington
INSIDE
Features

A Summary of the
2007 Midyear Meeting

8th Annual Doctoral Consortium

2007 Auditing Business Meeting/Financial Report

AJPT Publication Report

IAASB's Activities
2006 Update

PCAOB Research Synthesis Projects

GAO Update
January 2007

ASB Update
January 2007

PCAOB
Standards-Setting Update

A Five-Minute Demonstration of Assertion-Based Auditing

Have you seen…?

Have You Seen These Instructional Resources…?

Calls

14th Annual Midyear Auditing Section Conference

Auditing Section
Nominees for Offices

Auditing Section Awards

12th Annual Ethics Research Symposium

Announcements

2007 Distinguished Service in Auditing Award

2007 Innovation in Auditing and Assurance Education Award

2007 Outstanding Auditing Dissertation Award

2007 Notable Contributions to the Auditing Literature Award

2007 Auditing Section Outstanding Educator Award

Symposium on Information Systems Risks, Security & Assurance

PDF Version of Newsletter
(for printing)


Auditing Home Page
Summer 2007 Issue Deadline
The deadline for material to be included in the Summer 2007 issue of The Auditor's Report is April 30, 2007. 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 April 30, 2007 to ensure timely publication of the issue:

Mark Zimbelman, Editor
Brigham Young University
540 Tanner Building
Provo, UT 84602
Phone: (801)422-1227
Fax: (801)422-0621
Email:
mz@byu.edu

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

Ray Whittington Thanks again for the opportunity to serve as your President for 2006–2007. I continue to be amazed by the number of members that are willing to work diligently on behalf of the Auditing Section. As a result of these efforts, and the efforts of those who served in prior years, we have achieved a great deal. Let me highlight a few of our activities and accomplishments.

2007 Midyear Conference
The Midyear Conference could not have been better. The weather was great in Charleston, South Carolina, and from the comments received from the 294 attendees, it was a great success. See the article on the Midyear meetings for a summary of the highlights of this exciting and informative program.

Karla Johnstone and Terry Neal did a phenomenal job as the Co-Chairs of the Conference Planning Committee. Karla and Terry were assisted by Roger Martin and Gary Peters, who coordinated the manuscript review process for the 2007 conference and will Co-Chair the 2008 Midyear Conference in Austin. We also want to thank all of the individuals that acted as moderators, discussants, and reviewers for the conference. Our thanks also go to the Dee Strahan's on-site team for their assistance.

Finally, the Auditing Section is indebted to the KPMG Foundation for their continued generous support of our Midyear Conference and Auditing Section Doctoral Consortium. We were pleased that Bernie Milano, President of the KPMG Foundation, was able to attend the conference again this year.

Auditing Section Doctoral Consortium
The Auditing Section Doctoral Consortium was also a great success. Fifty Ph.D. students were treated to presentations by some of the finest audit researchers in the world. Jane Kennedy, assisted by Vicky Hoffman, planned this 8th Annual Doctoral Consortium. 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 PhD students interested in auditing, established auditing researchers, and journal editors. By all accounts, this year's Consortium clearly achieved this purpose. Thanks again to the KPMG foundation for their generous support for this program which is so important to increasing PhD students' interest in auditing research and teaching.

2007 Auditing Doctoral Consortium
2007 Auditing Section Doctoral Consortium

Section Awards Announced
Winners of the Auditing Section awards were recognized at the Midyear luncheons on Friday and Saturday. At Friday's luncheon, we recognized two outstanding auditing educators. Ira Solomon was awarded the 2007 Distinguished Service Award, and Larry Rittenberg was awarded the 2007 Outstanding Auditing Educator Award. Anyone who knows these individuals recognizes that they are well deserving of these awards.

Larry Rittenberg (left) receives the 2007 Auditing Section Outstanding Educator Award and Ira Solomon (right) receives the <br>
      2007 Distinguished Service Award
Larry Rittenberg (left) receives the 2007 Auditing Section Outstanding Educator Award and Ira Solomon (right) receives the
2007 Distinguished Service Award

At Saturday's luncheon three other awards were announced. Jere Francis accepted the 2007 Notable Contributions to the Auditing Literature Award on behalf of himself and his coauthors, Edward Maydew and H. Charles Sparks for their paper titled "The Role of Big 6 Auditors in the Credible Reporting of Accruals,"

The 2007 Notable Contributions to the Auditing Literature Award was presented to Jere Francis (right) by Jordan Lowe (left).
The 2007 Notable Contributions to the Auditing Literature Award was presented to Jere Francis (right) by Jordan Lowe (left).

Gary Hecht received the 2007 Outstanding Dissertation Award and Mark Peecher was recognized as Gary's dissertation chair.

The 2007 Auditing Section Outstanding Dissertation Award was presented by Jere Francis (left) to Gary Hecht (center). Mark Peecher (right) was recognized as Gary's Dissertation Chair.
The 2007 Auditing Section Outstanding Dissertation Award
was presented by Jere Francis (left) to Gary Hecht (center).
Mark Peecher (right) was recognized as Gary's Dissertation Chair.

The award for Innovation in Auditing Education was awarded to Eric Spires.

The award for Innovation in Auditing Education was awarded to Eric Spires by William Dilla.
The award for Innovation in Auditing and Assurance Education
was presented to Eric Spires by William Dilla.

New PCAOB Research Synthesis Team
A new PCAOB Research Synthesis Team was selected. The team, which consists of Bill Kinney, Joseph Carcello, Joseph Weber, and Michael Willenborg, will focus on the Cost-Benefit of the Sarbanes-Oxley legislation, Auditing Standard No. 2, and the PCAOB. This topic is obviously of critical important to the PCAOB.

2007 PCAOB/AAA Conference
Selected members of the Auditing Section have been invited to the third PCAOB/AAA Conference. At this year's conference several of the synthesis research teams will attempt to integrate their findings, and consider the implications of the existing research for functional areas of the PCAOB beyond the area of standards setting. Panels will also explore cost effectiveness issues related to Section 404, Auditing Standard No. 2, and the PCAOB, and education and competence issues for future auditors.

We are indebted to the prior officers of the Auditing Section, particularly Jean Bedard and Linda McDaniels, for establishing the relationship with the PCAOB that has led to the creation of the research synthesis teams and the conferences which have benefited many members of the Auditing Section.

Online Journal Launched
At the Midyear Conference, we announced the launch of the section's new online journal, Current Issues in Auditing. The new journal, co-edited by Dana Hermanson and D. Scott Showalter, is designed to promote timely, widespread dissemination of ideas to the academic and practice communities. The journal will begin accepting manuscripts for review and consideration on March 15, 2007. More information about the new journal may be obtained from the call for papers on the Auditing Section's homepage.

Officer Elections
At the Annual Business Meeting, Julia Higgs, Secretary, announced the results of the Fall 2006 officer elections. Audrey Gramling (Kennesaw State University) was elected to serve as Vice President-Academic, and Mark Taylor (Creighton University) was elected to serve as Treasurer. The new officers will assume their offices at our Auditing Section Luncheon in August 2007. Congratulations to these new officers! We look forward to working with them on the Executive Committee.

As a reminder, our next elections will be held in the Fall of 2007. Look for the email announcing that electronic voting has begun and be sure to make your voice heard by voting.

2007 Annual Meeting
Planning for the Auditing Section activities at the 2007 AAA Annual Meeting has begun. This year's meeting will be held in Chicago, Illinois, August 5–8, 2007. Chris Earley, with the assistance of Chris Hogan, is serving as 2007 Annual Meeting Coordinator. They are in the process of coordinating the reviews of the submitted manuscripts and panel proposals. They will need to identify discussants for all of these papers. We encourage you to volunteer.

As you register for the AAA Annual Meeting be sure to register for the Auditing Section's luncheon. This year, Edward Nusbaum, CEO of Grant Thornton, LLP, will be the featured speaker. Ed has some great insights to share with us regarding the state of the auditing profession. You will not want to miss it!