1393 also stated (in footnote 8) that the "Company's auditors [Arthur Andersen] proposed an adjustment to reverse these expenses but agreed to pass on them as immaterial for the 1996 fiscal year.
We test how Academic Audit affects Discretionary Accruals, AAER
, and Stock Price Informativeness.
The September 30, 2013, announcement that first referenced Operation Broken Gate involved AAER
TABLE 3--Logit model without misclassification parameter Dependent variable: AAER
Observations: 10858 Period: 1998-2002 Variable Odds Ratio Std.
QZero is the fiscal quarter in which the AAER
According to an AAER
press release, the castings were previously produced by a European company.
Deloitte Forensic staff reviewed more than 1,300 AAERs
that the SEC released.
acquire all the outstanding shares of AAER
in exchange for 26,470,588
If the buyer purchased under a bill-and-hold arrangement in response to a sales promotion initiated by the seller, AAER
12) This does not mean that the SEC accused 228 firms of fraud because it is common for more than one AAER
to be issued against a single firm; sometimes there are separate AAERs
issued against the firm and individuals (managers) associated with the firm.
Prior research has assessed the frequencies with which audit adjustments are proposed (for a review, see Kinney and Martin ) and the frequency with which extreme forms of e arnings management are identified (see the aforementioned AAER
studies), but none have focused specifically on earnings-management attempts.
The SEC issues an AAER
when a company is formally charged with a violation requiring restatement of its financial reports.