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2016 Deloitte/University of Kansas Auditing Symposium

The symposium agenda is included below, which includes the associated links to the symposium materials and to applicable condensed biographies located below the agenda.

Agenda

Thursday, May 19

Location:

Oread Hotel, 9th Floor Terrace

Adjacent to The University of Kansas

7 - 9 p.m.

Reception

Friday, May 20

Location:

KU School of Business, Capitol Federal Hall

The University of Kansas
(Note: Bus will transport symposium participants from Oread Hotel to Capitol Federal Hall)

7 - 8 a.m.

Breakfast

8 - 8:30 a.m.

Welcome and Opening Remarks

  • Presenters:
  • Director John Sweeney, University of Kansas
  • Dean Neeli Bendapudi, University of Kansas
  • Howard Cohen, Deloitte & Touche LLP

8:30 - 9:20 a.m.

Shaping the Future of the Profession - Innovation, Regulation, and the Evolving Needs of the Capital Markets

9:20 - 9:30 a.m.

Refreshment Break

9:30 - 11 a.m.

Panel Discussion: Driving to a Better Understanding of What Comprises a Quality Audit

11 - 11:45 a.m.

The Next Generation of Audit Teams: Preparing for the Automation of Everything

11:45 a.m. - 12:45 p.m.

Lunch

1 - 2 p.m.

Trends in Audit Oversight and Audit Quality

2 - 2:15 p.m.

Refreshment Break

2:15 - 3 p.m.

Auditing Changes and Financial Reporting

3:15 - 5 p.m.

Research Session - Susan Scholz, Moderator

The Informational Value of the Audit Report Date and the Effect of SFAS No. 165

How Do Look-Back Analyses and Evidence Specificity Affect Auditors' Planning Judgments?

  • Presenter:
  • Ann G. Backof, University of Virginia
  • Co-Authors:
  • Roger D. Martin, University of Virginia
  • Jane M. Thayer, University of Virginia
  • Materials:
  • Paper (link to SSRN)
  • Presentation Slides
  • Q&A Transcript

Investor Reliance on PCAOB Inspection Reports

  • Presenter:
  • Ganesh Krishmanoorthy, Northeastern University
  • Co-Authors:
  • Jeffrey Cohen, Boston College
  • Marietta Peytcheva, Lehigh University
  • Arnie Wright, Northeastern University
  • Materials:
  • Abstract
  • Presentation Slides
  • Q&A Transcript

5 p.m.

Bus with transport symposium participants from Capitol Federal Hall to Oread Hotel

6 - 8:30 p.m.

Reception and Dinner

Oread Hotel

Adjacent to The University of Kansas

Saturday, May 21

Location:

Oread Hotel, Griffith Room

Adjacent to The University of Kansas

7:30 - 8:30 a.m.

Breakfast

8:30 - 10 a.m.

Research Session - Stephen Lusch, Moderator

Auditor Multinational Expertise and Audit Quality

PCAOB Form 2 Disclosure: A Firm-Level Signal of Audit Quality?

Improving Auditors' Consideration of Evidence Contradicting Management's Assumptions

  • Presenter:
  • Michael A. Ricci, University of Georgia
  • Co-Authors:
  • Ashley A. Austin, University of Georgia
  • Jacqueline S. Hammersley, University of Georgia
  • Materials:
  • Abstract
  • Presentation Slides
  • Q&A Transcript

10 - 10:15 a.m.

Refreshment Break

10:15 - 11:45 a.m.

Research Session - Scott Bronson, Moderator

When Fraud Brainstorming Becomes Dysfunctional: Can the Generation of Many Fraud Risks Increase Anchoring on Client Provided Expectations?

  • Presenter:
  • Ikseon Suh, Marquette University
  • Co-Authors:
  • Anna M. Rose, University of Wellington
  • Jacob M. Rose, University of Wellington
  • Jay C. Thibodeau, Bentley University
  • Materials:
  • Abstract
  • Q&A Transcript

Audit Partner Characteristics, Audit Pricing and Audit Quality in the United States

Separating Auditor Provided Tax Compliance and Tax Planning Services: Audit Quality Implications

  • Presenter:
  • Ronen Gal-Or, Northeastern University
  • Co-Authors:
  • James A. Chyz, University of Tennessee
  • Vic Naiker, Monash University
  • Materials:
  • Presentation Slides

11:45 a.m. - 1 p.m.

Lunch

Enhancing Audit Quality - the IAASB's Current and Future Work

1 - 2:45 p.m.

Research Session - Adi Masli, Moderator

Integration of Internal Control and Financial Statement Audits: Are Two Audits Better Than One?

  • Presenter:
  • Joseph H. Schroeder, Indiana University
  • Co-Authors:
  • Lori S. Bhaskar, Indiana University
  • Marcy L. Shepardson, Indiana University
  • Materials:
  • Paper (link to SSRN)
  • Presentation Slides
  • Q&A Transcript

Gresham's Law of Measurement and Audit Quality Indicators: Implications for Policy Making and Standard-Setting

Allies in the Break Room: The Effect of Accounting Alumni on Auditor Choice and the Hiring Agenda

  • Presenter:
  • Nam Ho, Carnegie Mellon University
  • Co-Authors:
  • Andrew Birk, Carnegie Mellon University
  • Thomas G. Ruchti, Carnegie Mellon University
  • Materials:
  • Paper (link to SSRN)
  • Presentation Slides
  • Q&A Transcript

2:45 - 3 p.m.

Refreshment Break

3 - 4:45 p.m.

Research Session - Tom Kubick, Moderator

Audit Committee Influence on Audit Firm Selection and Retention

  • Presenter:
  • Brant E. Christensen, University of Missouri-Columbia
  • Co-Authors:
  • Thomas C. Omer, University of Nebraska-Lincoln
  • Marjorie K. Shelley, University of Nebraska-Lincoln
  • Paul A. Wong, University of California-Davis
  • Materials:
  • Presentation Slides
  • Q&A Transcript

Promoting Flexible Idea Generation During Auditing Planning

Archival Evidence on Bias in Auditors' Assessment of Client Risk and the Consequences for Audit Fees and Auditor Changes

 

Speaker Backgrounds

* Please note: These speaker background statements were originally posted in 2016

Beverley Bahlmann

Deputy Director

International Auditing & Assurance Standards Board

Beverley Bahlmann, Deputy Director at the International Auditing and Assurance Standards Board is a member of the Australian and South African Institute of Chartered Accountants. Beverley has been with the International Auditing & Assurance Standards Board (IAASB) in New York for the past 4 and a half years and has worked on a variety of projects, including the recently published Invitation to Comment on Enhancing Audit Quality, Auditing Disclosures and the IAASB’s Strategy and Work Plan. Previously, Beverley worked for 15 years in a technical and training role in audit firms in Australia, the UK and South Africa.

Cynthia M. Fornelli

Executive Director

Center for Audit Quality (CAQ)

Cindy Fornelli is Executive Director of the Center for Audit Quality (CAQ), a position she has held since the CAQ was established in 2007. In 2015, Cindy was honored for the seventh time by Directorship magazine as one of the 100 most influential people on corporate governance and in the boardroom. Accounting Today has named her one of the 100 most influential people in accounting for nine consecutive years.

Cindy serves on the Advisory Board of the Ira M. Millstein Center for Global Markets and Corporate Ownership, the Securities and Exchange Commission Historical Society’s Board of Trustees, the Audit & Risk Oversight Committee Advisory Council of the National Association of Corporate Directors, and the Accounting and Auditing Committee of the International Corporate Governance Network. She previously served on the National Association of Corporate Directors’ 2010 Blue Ribbon Commission on the Audit Committee and 2009 Blue Ribbon Commission on Risk Governance. Prior to joining the CAQ, Fornelli was the Regulatory and Conflicts Management Executive at Bank of America and the Deputy Director of the U.S. Securities and Exchange Commission's Division of Investment Management. Cindy is a graduate of Purdue University and received her J.D. degree at The George Washington University.

Jeanette M. Franzel

Board Member

PCAOB

Jeanette Franzel was appointed as a member of the Public Company Accounting Oversight Board (PCAOB) in February 2012. The PCAOB’s mission is to oversee the audits of public companies to protect the interests of investors and further the public interest through high quality, independent, and reliable audits. The Board oversees PCAOB’s programs and operations including (i) registration of accounting firms; (ii) inspections of registered firms’ audits and quality control; (iii) establishment of auditing standards; and (iv) investigation and enforcement.

Prior to joining the PCAOB, Ms. Franzel served nearly 23 years at the Government Accountability Office (GAO), ending her tenure as a Managing Director overseeing all aspects of GAO’s financial audits of the U.S. federal government. During a decade in GAO's Senior Executive Service, she directed audits of large complex agencies as well as smaller, highly sensitive programs. From 2008 through 2011, Ms. Franzel's team oversaw the U.S. government's efforts to help stabilize the financial markets and promote economic recovery.

From 2003 to 2012, Ms. Franzel oversaw the periodic updating and issuing of GAO's Government Auditing Standards ("The Yellow Book") which is used throughout the world. She also provided extensive policy and technical support to the International Organization of Supreme Audit Institutions which develops auditing standards for national audit offices around the world.

In 2015 and 2013, Ms. Franzel was named as one of the “Top 100 Most Influential People” by Accounting Today. Ms. Franzel was also the recipient of GAO's Distinguished Service Award, the AICPA's Outstanding CPA in Government Award, and the Association of Government Accountants’ International Achievement Award. Ms. Franzel has a B.A. in Accounting and Spanish from the College of St. Teresa and an MBA from George Mason University. She also completed the Senior Executive Fellows program at Harvard University. Ms. Franzel holds the following professional certifications: Certified Public Accountant (CPA), Certified Internal Auditor (CIA), Certified Management Accountant (CMA), and Certified Government Financial Manager (CGFM).

Thomas J. Linsmeier

Board Member

FASB

Thomas J. Linsmeier was appointed as a member of the Financial Accounting Standards Board (FASB) in July, 2006 and reappointed to a second five-year term starting in July 2011. An award-winning teacher and researcher with particular expertise in financial reporting for financial instruments, derivatives and risk management activities, Dr. Linsmeier was formerly Russell E. Palmer Endowed Professor and Chairperson of the Department of Accounting and Information Systems at Michigan State University.

Dr. Linsmeier also has served as Academic Fellow and Special Consultant to the Office of the Chief Accountant at the U.S. Securities and Exchange Commission (SEC) and has held professorial appointments at the University of Iowa and the University of Illinois at Urbana-Champaign.

Dr. Linsmeier’s research has explored the role of accounting information in securities markets, including the usefulness to investors of fair value and market risk management disclosures, the valuation-relevance of earnings component information, and the economic effects of changes in accounting regulation. His work has been published in The Accounting Review; Journal of Accounting Research; Review of Accounting Studies; Accounting Horizons; Management Science; Journal of Accounting, Auditing, and Finance; Journal of Business, Finance and Accounting; Accounting and Business Research; and Financial Analysts Journal.

Dr. Linsmeier has served as chairman of the Financial Accounting Standards Committee and president of the Financial Accounting and Reporting section of the American Accounting Association. He received his Ph.D. and MBA from the University of Wisconsin-Madison and his BBA from the University of Wisconsin-Milwaukee.

Dr. Linsmeier’s second FASB term ended on June 30, 2016. He is currently the Thomas G. Ragatz Distinguished Chair in Accounting and a Professor in the Department of Accounting and Information Systems at the Wisconsin School of Business of the University of Wisconsin-Madison.

Scott Marcello

Vice Chair

KPMG, LLP

Scott Marcello is Vice Chair - Audit, for KPMG LLP, the U.S. audit, tax and advisory firm, and the America’s Leader for Audit for KPMG International. In his U.S. role, Scott leads a team of more than 9,000 Audit partners and professionals in the development and execution of the U.S. Audit strategic vision, and he sits on the firm’s Management Committee. Scott has more than 30 years of experience serving some of KPMG’s largest clients, and previously was a member of KPMG’s Board of Directors. He also served as KPMG’s National Leader for the U.S. Financial Services business, as regional coordinating partner for KPMG’s Americas Financial Services practices, and as a member of KPMG’s Global Financial Services Leadership Team. Scott served as an SEC reviewing partner and as the Office Managing Partner of the KPMG Columbus, Ohio, office. He also spent two years as a practice fellow with the Financial Accounting Standards Board (FASB) and spent time in KPMG’s National Office. A frequent public speaker and media contributor on behalf of the firm, Scott also contributes articles to professional and other journals, and serves as a commentator on topical matters related to the audit profession.

Roger Martin, Ph.D.

Associate Professor of Commerce; Director

University of Virginia

Professor Martin is an Associate Professor and Director of the M.S. in Accounting Program at the McIntire School of Commerce at the University of Virginia. He has expertise in auditing and financial reporting, and his research focuses on the impact of auditing, assurance services, and other corporate governance mechanisms on the quality of information provided to external users of financial statements. His research includes analysis of archival market data and behavioral experimental data. Professor Martin teaches a variety of auditing and assurance courses and intermediate financial accounting and has been awarded the University of Virginia All-University Teaching Award for his teaching excellence.

Professor Martin served as President of the Auditing Section of the American Accounting Association from 2012 to 2013, and continues in several other service roles with that organization. He served as an Academic Fellow at the Securities & Exchange Commission during the 2008-2009 academic year. He has presented his work at national conferences sponsored by the American Accounting Association and at many university and conference research workshops. His work has been published in such journals such as The Accounting Review; Journal of Accounting Research; Auditing: A Journal of Practice & Theory; Issues in Accounting Education; Contemporary Accounting Research; and International Journal of Accounting, Auditing, & Taxation. He has taught and consulted for several international professional service firms and before joining the McIntire School of Commerce was a faculty member at Southern Methodist University, Michigan State University, and Indiana University. Professor Martin received his undergraduate degrees in accounting and finance at the University of Kansas and his Ph.D. at The University of Texas at Austin.

Jeannine Strandjord

Retired, Chief Integration Officer

Sprint Corporation

Jeannine Strandjord retired from Sprint Corporation at the end of 2005 where she was the Chief Integration Officer and managed the successful transformation of Sprint from a product-centric to a customer-centric operating model. Prior to 2005, she held several senior positions in finance including CFO for Global Markets Group (a $9B Division), head of Financial Services, Treasurer and Controller for the Corporation. Prior to joining Sprint, Ms. Strandjord held senior financial positions with a division of RH Macy’s and Kansas City Power & Light Company. She began her career on the audit staff of Ernst & Whinney.

Today Ms. Strandjord works with several corporate as well as non-profit boards. She is on the Board of American Century Mutual Funds, Euronet Worldwide, and MGP Ingredients. Ms. Strandjord is also on the Private Company Board of JE Dunn Construction Company. She spent four years on the Charming Shoppes, Inc. Board and 16 years on the DST Systems, Inc. Board. Her non-profit boards include The Kauffman Foundation; the Kansas City Community Foundation; the Truman Library; and the World War I Museum. Ms. Strandjord was the Chair of the Heartland Chapter of the National Assn. of Corporate Directors and a Trustee for Rockhurst University for nine years and is a member of the Women Corporate Directors, International Women’s Foundation, and Women Who Mean Business.

Other activities of Ms. Strandjord include multiple years as a judge for Ernst & Young’s Entrepreneur of the Year Award and The Kansas City Business Journal’s CFO of the Year Award. She speaks on Governance and Risk Management issues at seminars each year. Ms. Strandjord graduated from the University of Kansas and is a CPA.

Joe Ucuzoglu

Chairman and Chief Executive Officer

Deloitte & Touche LLP

As the leader of the U.S. audit practice, Joe is responsible for overseeing all aspects of the organization including execution of our quality, innovation, growth, and talent strategies. Along with the 9,000 professionals comprising Deloitte’s audit practice, Joe plays a crucial role in delivering exceptional value and insights to clients and the capital markets. He maintains significant audit client responsibilities, serving as the advisory partner for selected client engagements, and is a frequent speaker on issues impacting the audit profession and regulatory landscape. Joe also serves on Deloitte’s Global Board of Directors.

Recognized as a leader in the public accounting profession’s drive to continuously improve audit quality, Deloitte has 2,800 U.S. audit clients. Deloitte’s public company audit clients total $6 trillion in market capitalization and include 23 percent of Fortune 1000 companies.

Previously, Joe was Deloitte’s national managing partner for Government, Regulatory and Professional Matters. In this role, he was responsible for Deloitte’s interactions with regulators and elected officials as well as overseeing the government affairs, public policy, independence, and ethics functions.

Prior to rejoining Deloitte, Joe served as senior advisor to the Chief Accountant at the Securities & Exchange Commission (SEC), advising on complex accounting, auditing, and public policy matters, and interacting frequently with other governmental agencies and Congress.

Joe is a graduate of the University of Southern California (USC). He serves on the board of directors of the U.S. Chamber of Commerce, the board of advisors of the SEC Historical Society, and the executive committee of USC’s SEC Financial Reporting Institute. He is a member of the Committee on Capital Markets Regulation, an independent research organization dedicated to enhancing the competitiveness of U.S. capital markets and ensuring stability of the U.S. financial system, and is active in the Center for Audit Quality, an autonomous group devoted to fostering high quality performance by public company auditors.

 

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