Importance of Ethics and Education to Understand the Audit Mission

The chapter brings forward the discussion of how the level of accounting and audit knowledge has an impact on how stakeholders understand the audit mission, the auditor's responsibilities, and the message conveyed by the audit report, even when considering the new and extended reports. The preliminary results of this analysis indicate that audit education influences the audit expectation gap (the reasonableness gap), and if measures would be taken to upsurge the stakeholder's levels of education in auditing and accounting, combined with new and revised standards, the audit expectation gap can be reduced. In this sense, the International Accounting Education Standards Board (IAESB) is an independent standard-setting body that serves the public interest by establishing standards in the field of professional accounting education that prescribe technical competence and professional skills, values, ethics, and attitudes.

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Comments by the Auditing Standards Committee of the Auditing Section of the American Accounting Association on the International Monitoring Group Consultation, Strengthening the Governance and Oversight of the International Audit-Related Standard-Setting Boards in the Public Interest

Current Issues in Auditing ◽

10.2308/ciia-52089 ◽

2018 ◽

Vol 12 (1) ◽

pp. C1-C10 ◽

Cited By ~ 1

Author(s):

Denise Dickins ◽

Marcus M. Doxey ◽

Marshall A. Geiger ◽

Christine Nolder ◽

Pamela B. Roush

Keyword(s):

Public Interest ◽

Standard Setting ◽

Accounting Education ◽

Data Availability ◽

International Accounting ◽

International Ethics ◽

The Public ◽

Auditing Standards ◽

Monitoring Group ◽

International Audit

SUMMARY On November 9, 2017, the Monitoring Group (MG) overseeing international auditing standards issued a request for comment on its consultation paper (CP), Strengthening the Governance and Oversight of the International Audit-Related Standard-Setting Boards in the Public Interest. The CP presents a broad array of proposals to reform and restructure the three current auditing standard-setting groups it oversees (International Accounting and Assurance Standards Board [IAASB], International Ethics Standards Board for Accountants [IESBA], and International Accounting Education Standards Board [IAESB]). The CP suggests combining the three boards into a single board, and solicited public comment on the following areas: (1) key areas of overall concern, (2) guiding principles, (3) options for reform of the standard-setting boards, (4) options for the Public Interest Oversight Board (PIOB), (5) role of the monitoring group, (6) administration, including Standard-Setting Board staff, (7) process considerations, and (8) funding. The comment period ended on February 9, 2018. This commentary summarizes the participating committee members' views on selected questions for respondents posed by the MG. Data Availability: The concept release, including questions for respondents, is available at: https://www.iosco.org/library/pubdocs/pdf/IOSCOPD586.pdf

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The Extent of Applying the International Accounting Education Standard for Technical Competence in Accounting Programs at King Khalid University in the Kingdom of Saudi Arabia: A Case Study

The Arab Journal For Quality Assurance In Higher Education ◽

10.20428/ajqahe.13.45.2 ◽

2021 ◽

Vol 13 (45) ◽

pp. 33-64

Author(s):

Mona Abdelrhman Yagoub

Keyword(s):

Saudi Arabia ◽

Learning Outcomes ◽

Accounting Education ◽

International Accounting ◽

Technical Competence ◽

Kingdom Of Saudi Arabia ◽

Education Standards ◽

Study Population ◽

Education Standard

The study aimed to identify the extent of applying the international accounting education standard for the technical competence in accounting programs at King Khalid University in the Kingdom of Saudi Arabia. The study followed the quantitative approach using the descriptive and inferential analysis method to test the hypotheses and achieve the study objectives. The study population was all faculty members of the accounting programs (diploma and bachelor) at King Khalid University, which has a total number of (64) members, from which a sample of 45 (75%) participants was randomly selected. Major findings revealed that the application of learning areas and outcomes related to technical competence specified in the International Accounting Education Standard (IES2) enabled graduates of accounting programs to possess the necessary skills to find solutions to complex accounting problems, which would lead to the required technical competence levels by completing the specified accounting program. It was also found out that areas and learning outcomes of technical competence were applied in accounting programs at King Khalid University. Based on these results, the study stressed the need for more studies on the scope of applying the International Accounting Education Standard (IES2) in accounting programs at universities in various countries due to its significant contribution to program development and the competence of technical graduates. The accounting programs at King University Khaled should also pay more attention to some areas of technical competence and related learning outcomes that have achieved lower rates. Keywords: application of the standard accounting education standards, technical competence, accounting programs, King Khalid University.

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Accounting Education for Professional Accountants: Evidence from Italy

International Journal of Business and Management ◽

10.5539/ijbm.v13n8p1 ◽

2018 ◽

Vol 13 (8) ◽

pp. 1 ◽

Cited By ~ 2

Author(s):

Giovanna Lucianelli ◽

Francesca Citro

Keyword(s):

Professional Competence ◽

Research Question ◽

Accounting Education ◽

International Accounting ◽

Future Expectations ◽

Education Standards ◽

Accounting Standard ◽

Regulatory Changes ◽

The University ◽

National Governments

In the last years, the worldwide changes in global, political and financial contexts have gradually modified the approaches to the accounting of national governments and international institutions. In this varying scenario, the International Accounting Standard Board (IASB) and consequently national governments have introduced new accounting standards along with related regulatory changes. These issues are of ever-growing importance when considering that the International Accounting Education Standards Board (IAESB) has recently developed “The basis for conclusions document for 2017-2021 IAESB Strategy and 2017-2018 Work Plan” (IAESB, 2017) with the aim of informing the Board’s deliberations on its future strategy and priorities about the future expectations of professional competence. The aim of this paper is to report the findings of an empirical study on this topic and address the following research question: what are professional accountants’ views on quality in accounting education? This primary research question is expanded to consider professional accountants’ beliefs on the present (what is necessary for their workplace) and future (what will be necessary for their workplace) with respect to quality in accounting education. The survey highlights how professional accountants have more expectations than in the past about their skills. The majority of professional accountants have been transforming themselves into business consultants since they are now required to offer more services than accounting and taxation consultancy. Consequently, there is a growing demand for cooperation with the university world in order to broaden the programs of accounting education with new technical competencies for undergraduate and postgraduate degrees.

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Assessment of the Jordanian Certified Public Accountant JCPA Examination in Comparison to the International Accounting Education Standards and the Best International Practices

International Business Research ◽

10.5539/ibr.v10n8p232 ◽

2017 ◽

Vol 10 (8) ◽

pp. 232

Author(s):

Mahmoud Nassar ◽

Husam Aldeen AL-Khadash

Keyword(s):

Accounting Education ◽

International Accounting ◽

Certified Public Accountant ◽

Education Standards ◽

Accounting Practice ◽

Computer Based ◽

Specific Material ◽

Further Development ◽

Public Accountant

This study aims to highlight the experiences of Jordanian Certified Public Accountant (JCPA) exam that started with the establishment of the Legal Accounting Profession organisation law in June 2006. This study is considered the first study in the Hashemite Kingdom of Jordan that looks at the evaluation of the Jordanian Chartered Public Accountant exam, in comparison to the requirements of international accounting education standards. Furthermore, this study focuses on the sixth standard IES6 that relates to the assessment of professional accountants and that is based on the best practices in professional accounting examinations in the world. This current study has adopted the method of distribution of questionnaires to gather information from those who participated in taking the exam, with the group of those who were successful, and others that were not so lucky. The accounting practice analysis was based on the standards, the best accounting practices, and the results of the interviews, which when were completed produced a number of recommendations. The recommendations or results found, push for the further development of the JCPA exam and improves the quality of the exam, to advance to the universal level of professional examinations. Of the most important recommendations is to work on increasing the number of times the exam is held annually, which can be done easily if the exam becomes computer based. It’s also important to develop specific firm dates for the JCPA exam or to announce the dates at the beginning of each year, and not to announce the exam time two months prior to the exam as it is currently. Finally, the announcement and clarification of specific percentages given to specific material included in the exam such as dedicating 25% of the examination to International Auditing Standards and so on.

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The IFAC Framework: International Accounting and the Public Interest

Accounting for the Public Interest ◽

10.1007/978-94-007-7082-9_8 ◽

2013 ◽

pp. 161-174 ◽

Cited By ~ 1

Author(s):

Paul F. Williams

Keyword(s):

Public Interest ◽

International Accounting ◽

The Public

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Why SEPs have been involved in Antitrust Cases – From A Chinese Scholar’s Perspective

Zeitschrift für Wettbewerbsrecht ◽

10.15375/zwer-2017-0106 ◽

2017 ◽

Vol 15 (1) ◽

pp. 72-87 ◽

Cited By ~ 2

Author(s):

Xiaoye Wang

Keyword(s):

Public Interest ◽

Standard Setting ◽

Patent Law ◽

Antitrust Law ◽

Antitrust Enforcement ◽

Technical Standard ◽

The Public ◽

Injunctive Relief ◽

Standard Essential Patents ◽

Antimonopoly Law

AbstractIf patents have been included in a technical standard and thus have become standard essential patents (SEPs), the SEP holders normally have to commit to the Standard Setting Organization (SSO) to license their SEPs on fair, reasonable and non-discriminatory (FRAND) terms. Although the FRAND commitments already put constraints on the patentees, more and more disputes over FRAND licensing fees involving SEPs are reaching antitrust enforcement agencies and courts, perhaps due to the fact that the FRAND commitments are often not workable. As demonstrated in the case Huawei v. IDC in Chinese courts, SEPs have special characteristics compared to non-SEPs, i.e. the licensing of SEPs relates more to the public interest, the holders of the SEPs may be thought to have dominant positions in the licensing market of their SEPs, the holder of the SEPs often have made commitments to license on the FRAND terms, and the holder of the SEPs should be allowed to use the injunctive relief only in limited circumstances. This article also proposes that Article 55 of the Chinese Antimonopoly Law (AML) should be reconsidered because it exempts the undertakings who exercise their IPRs in accordance with the laws and administrative regulations on IPRs from the application of the AML. However, as this article shows, the excessive royalty requested or the injunction sought by the holder of SEPs may not violate the patent law, but nonetheless may violate the antitrust law.

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Implications of a Stakeholder View on Corporate Reporting

Accounting and the Public Interest ◽

10.2308/api.2007.7.1.50 ◽

2007 ◽

Vol 7 (1) ◽

pp. 50-65 ◽

Cited By ~ 9

Author(s):

George Joseph

Keyword(s):

Corporate Governance ◽

Conceptual Framework ◽

Public Interest ◽

Financial Accounting ◽

International Accounting ◽

Financial Reports ◽

The Public ◽

Corporate Reporting ◽

Stakeholder View

While the stakeholder view is increasingly being seen as an integral part of corporate governance, a corresponding view has not emerged in corporate reporting. This paper explores the possibility of a normative stakeholder view of corporate reporting by addressing the foundation of financial reports, the underlying mission of the conceptual framework contained in Statement of Financial Accounting Concepts No. 1. Specifically, the paper contrasts mission concepts to find a suitable foundation for the stakeholder view that would sufficiently project the ideas, and particularly the public interest perspective contained in that view. The paper also illustrates how the mission of corporate reporting extends to other areas in the conceptual framework and international accounting, and critically reviews the current trajectory of corporate reporting in the light of the implications of the stakeholder view.

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How has the Change in the Way Auditors Determine the Audit Report Date Changed the Meaning of the Audit Report Date? Implications for Academic Research

Auditing A Journal of Practice & Theory ◽

10.2308/ajpt-19-014 ◽

2021 ◽

Author(s):

Steven M. Glover ◽

James C Hansen ◽

Timothy A. Seidel

Keyword(s):

Academic Research ◽

Financial Statements ◽

Standard Setting ◽

Turn Of The Century ◽

Audit Report ◽

Filing Date ◽

Audit Opinion ◽

The Public ◽

Audit Efficiency ◽

Regulatory Actions

Archival research in accounting often relies on the audit report date to capture the constructs of audit efficiency, audit timeliness, audit effort, or audit completion. Auditors' view of what constitutes sufficient appropriate evidence to support the audit opinion, and consequently the date of the audit report, previously coincided with the substantial completion of audit fieldwork, which would be days or weeks before a 10-K filing. However, this view has shifted to coincide with the timing of the public issuance of clients' financial statements (i.e., the 10-K filing date) following several regulatory actions, audit practice changes, and professional standard setting changes occurring since the turn of the century. In this study, we present evidence of this shift in auditor perspective and discuss implications for academic research and standard setting.

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