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emerging/innovative research session

    Stephanie Dehning Grimm
    A Simulation Study of the Effects of Perceived Risk and...
    emerging/innovative research session posted August 3, 2011 by Stephanie Dehning Grimm 
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    A Simulation Study of the Effects of Perceived Risk and Information Sharing on the Internal Control Reporting Process
    author(s), affiliation(s):
    Stephanie Grimm and Sheneeta White, University of St. Thomas
    August 9, 2011 at 01:00am

                The Sarbanes Oxley Act (SOX) mandated the evaluation of internal controls over financial reporting by management and the company’s public auditor. Our simulation study investigates the role of perceived risk and information sharing on the internal control audit process. We interpret various scenarios as corresponding to the Pre-SOX period, SOX implementation year, SOX early years, and SOX later years. We use the regulatory guidance from AS2 and AS5 to motivate how variables of the auditor’s historical relationship with its client, information sharing and perceived risk affect the tasks in the audit process. We also test for the bullwhip effect, an operations phenomenon of over production, and discuss how the effect can be mitigated.


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