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20th Symposium on Auditing Research


This volume contains e-proceedings from the 20th Symposium on Auditing Research held at the I-Hotel and Conference Center in Champaign, Illinois on October11-13, 2012. Approximately 100 persons, including accountancy professors and practitioners as well as Illinois faculty and doctoral students attended the symposium. The KPMG Foundation's ongoing generous support of the symposium series enabled us to bring participants together.

Consistent with tradition, many scholars volunteered their time and knowledge to produce a high-quality symposium. Reviewers provided constructive comments, authors and discussants made helpful and thoughtful presentations of their ideas, and participants posed insightful and stimulating questions.

The Symposium featured eight research papers that collectively relied on a diverse set of theoretical perspectives and research methods to improve our understanding of pressing audit research issues. To round out the event, KPMG's Tom Duffy gave a luncheon address on the state of regulation in the profession and Dan Simons gave a provocative keynote address on the dangers of relying on our intuition to assess risk and draw inferences. These addresses and presentations together with the insightful and helpful discussions of the research papers made the 20th Symposium on Auditing Research a most educational and intriguing event.

Mark E. Peecher
 University of Illinois



Session I: Counterparty Responses to Managerial Overconfidence ◊ slides

 Paul Hribar, University of Iowa
Jaewoo Kim, University of Iowa
Ryan Wilson, University of Iowa
 Holly Yang, University of Pennsylvania

Discussant – Cathy Shakespeare, University of Michigan ◊ slides

Session II: The Effects of Environmental Attitudes, Perceived Environmental Information Importance, Corporate Environmental Performance, and Independent Auditor Assurance on Investor Judgments ◊ slides

William N. Dilla, Iowa State University
Diane J. Janvrin, Iowa State University
Jon D. Perkins, Iowa State University
 Robyn L. Raschke, University of Nevada – Las Vegas

Discussant – Brooke Elliott, University of Illinois ◊ slides

Session III: Do Joint Audits Improve or Impair Audit Quality? ◊ slides

Mingcherng Deng, Baruch College
Tong Lu, University of Houston
Dan A. Simunic, University of British Columbia
Minlei Ye, University of Toronto
Discussant – Mark Penno, University of Iowa ◊ slides

Luncheon Address: Our Changing Regulatory Environment ◊ slides

Thomas Duffy
National Managing Partner, Audit - KPMG LLP

Session IV: How Rules-Oriented Are Accounting Standards? ◊ slides

Paul E. Madsen, University of Florida
Devin Williams, University of Florida
Discussant – Stephen Rowe, University of Illinois ◊ slides

Session V: Competition in the Audit Market ◊ slides

Joseph Gerakos, University of Chicago
Chad Syverson, University of Chicago
Discussant – Michael Willenborg, University of Connecticut ◊ slides

Session VI: The Effect of Sharing a Common Auditor with Customers on Accounting Restatements by Supplier Firms ◊ slides

Ting Chen, City University of New York
 Xiumin Martin, Washington University
 Amy L. Sun, Penn State University
Discussant – Robert Knechel, University of Florida ◊ slides

Session VII: New Investigator Forum

Audit Committees’ Propensity to Challenge Significant Accounting Estimates: The Joint Effects of Audit Report Content and Investor Type ◊ slides
Yoon Ju Kang, Lehigh University
Tax Internal Control Quality: The Role of Auditor - Provided Tax Services and Tax Department Integration ◊ slides
Lisa De Simone, University of Texas at Austin
Matthew Ege, University of Texas at Austin
Bridget Stomberg, University of Texas at Austin


Auditing Research Symposium Planning Committee

 Tim Bauer
 Paul Beck
 Mark Peecher, Chair
 Heather Pesch
 Brad Pomeroy
 Theodore Sougiannis
 Anne Thompson
 Martin Wu