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The financial and market effects of the SEC's accounting and auditing enforcement releases

The Securities and Exchange Commission's (SEC) accounting enforcement program is examined. The specific questions explored are: 1. what type of accounting and auditing problems motivate enforcement actions, 2. what are the consequences of the investigations on target's financial statements, managers, and auditors, and 3. how do investors and other market agents view the SEC's actions. A total of 224 Accounting and Auditing Enforcement Releases (AAER) issued by the SEC between April 1982 and April 1989 are examined. The SEC is most likely to pursue alleged disclosure violations dealing with premature revenue recognition or overstatements of current assets. The income effects of these financial disclosure violations are material, and their disclosure affects financial analysts' expectations of targets' future earnings. However, DeFond and Smith, in their discussion of the study, note that it is not possible to separate the reaction to the disputed accounting from the reaction to the announcement of the SEC investigation.Hardcopy

Ketersediaan

Call NumberLocationAvailable
IM1510561PSB lt.dasar - Pascasarjana1
Penerbit Institute of Professional Accounting.,
Edisi -
Subjek Financial statements
Statistical analysis
Disclosure
Effects
SEC regulations
SEC accounting policies
Audit engagements
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