The SEC's Enforcement Actions Against Audtiors: An Auditor Reputation and Institutional Theory Perspective.

The purpose of this study is to gain insight into the importance of auditor reputation by looking at the evidence provided by SEC enforcement actions against companies and their auditor. The SEC issuand «counting and Auditing Enforcement Releases (AAERs) when a company commits a violation, including intentional falsification of financial statements, overstatement of assets and income and inadequate disclosure. In approximately one-third of the cases, the SEC also takes enforcement actions against the auditor. We investigate whether audit firm characteristics or type of financial reporting violations are related to enforcement actions against the auditor. Audit firm size, membership in the AICPA’s Division for CPA Firms, and the existence of disclosure violations are statistically significant in a logistic regression model. This finding extends prior research that auditor reputation has ‘‘brand name’’ valua. Institutional theory provides a perspective of this finding as the SEC and brand name auditors seek social legitimacy, which has public policy implications.

Main Author: Rollins, Theresa P.
Other Authors: Bremser, Wayne G.
Language: English
Published: 1997
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dc_source_str_mv Critical Perspectives on Accounting 8, 1997, 191-206.
author Rollins, Theresa P.
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Bremser, Wayne G.
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Bremser, Wayne G.
author_s Rollins, Theresa P.
spellingShingle Rollins, Theresa P.
The SEC's Enforcement Actions Against Audtiors: An Auditor Reputation and Institutional Theory Perspective.
author-letter Rollins, Theresa P.
author_sort_str Rollins, Theresa P.
author2 Bremser, Wayne G.
author2Str Bremser, Wayne G.
dc_title_str The SEC's Enforcement Actions Against Audtiors: An Auditor Reputation and Institutional Theory Perspective.
title The SEC's Enforcement Actions Against Audtiors: An Auditor Reputation and Institutional Theory Perspective.
title_short The SEC's Enforcement Actions Against Audtiors: An Auditor Reputation and Institutional Theory Perspective.
title_full The SEC's Enforcement Actions Against Audtiors: An Auditor Reputation and Institutional Theory Perspective.
title_fullStr The SEC's Enforcement Actions Against Audtiors: An Auditor Reputation and Institutional Theory Perspective.
title_full_unstemmed The SEC's Enforcement Actions Against Audtiors: An Auditor Reputation and Institutional Theory Perspective.
collection_title_sort_str sec's enforcement actions against audtiors: an auditor reputation and institutional theory perspective.
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description The purpose of this study is to gain insight into the importance of auditor reputation by looking at the evidence provided by SEC enforcement actions against companies and their auditor. The SEC issuand «counting and Auditing Enforcement Releases (AAERs) when a company commits a violation, including intentional falsification of financial statements, overstatement of assets and income and inadequate disclosure. In approximately one-third of the cases, the SEC also takes enforcement actions against the auditor. We investigate whether audit firm characteristics or type of financial reporting violations are related to enforcement actions against the auditor. Audit firm size, membership in the AICPA’s Division for CPA Firms, and the existence of disclosure violations are statistically significant in a logistic regression model. This finding extends prior research that auditor reputation has ‘‘brand name’’ valua. Institutional theory provides a perspective of this finding as the SEC and brand name auditors seek social legitimacy, which has public policy implications.
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dc.title The SEC's Enforcement Actions Against Audtiors: An Auditor Reputation and Institutional Theory Perspective.
dc.creator Rollins, Theresa P.
Bremser, Wayne G.
dc.description The purpose of this study is to gain insight into the importance of auditor reputation by looking at the evidence provided by SEC enforcement actions against companies and their auditor. The SEC issuand «counting and Auditing Enforcement Releases (AAERs) when a company commits a violation, including intentional falsification of financial statements, overstatement of assets and income and inadequate disclosure. In approximately one-third of the cases, the SEC also takes enforcement actions against the auditor. We investigate whether audit firm characteristics or type of financial reporting violations are related to enforcement actions against the auditor. Audit firm size, membership in the AICPA’s Division for CPA Firms, and the existence of disclosure violations are statistically significant in a logistic regression model. This finding extends prior research that auditor reputation has ‘‘brand name’’ valua. Institutional theory provides a perspective of this finding as the SEC and brand name auditors seek social legitimacy, which has public policy implications.
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