The Public Company Accounting Oversight Board co-hosted a two-day conference highlighting the work of academic researchers.
The PCAOB's Office of Economic and Risk Analysis held the conference last Friday and Saturday in conjunction with the scholarly journal, Management Science, in Washington, D.C. The conference drew over 115 researchers over the course of the two days.
"Academic findings help inform auditing standards by providing conceptual and empirical support to compare the expected costs and benefits of the standards," said PCAOB acting chair George Botic during a
The PCAOB and Management Science picked nine research proposals to be presented at the conference out of the 103 that were submitted after the PCAOB issued a call for proposals. The proposals ranged across three overall themes — the use of technology in the audit, audit market structure and incentives, and critical audit and financial reporting processes — while the specific topics included:
- The use of technology-based tools in auditing and its implications for audit quality and efficiency;
- How integrating generative AI in audit engagements affects auditors and audit outcomes;
- The scope and potential implications of private equity investment in accounting firms;
- Audit quality and efficiency implications of cross-country restructurings of global audit networks;
- The effects of auditor litigation risk on audit fees and outcomes;
- Audit partner labor market consequences of PCAOB and internal audit inspections;
- The effectiveness of engagement quality reviews in U.S. audits;
- Audit firm use of centralized audit teams; and,
- Accounting service offshoring and financial reporting quality.
The attendees also talked about recent research addressing stakeholder perspectives on the role of audited financial statements and the PCAOB's contribution to that role.
The
