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| Author: | Bonner, S. E. Palmrose, Z-V. Young, S. M. |
| Title: | Fraud type and auditor litigation: An analysis of SEC accounting and auditing enforcement releases. |
| Journal: | Accounting Review
1998 : OCT, VOL. 73:4, p. 503-532 |
| Index terms: | Fraud Lawsuits Auditors |
| Language: | eng |
| Abstract: | The authors study whether certain types of financial reporting fraud result in a higher likelihood of litigation against independent auditors expecting that auditors are more likely to be judged responsible for failing to detect commonly occuring frauds or those that stem from fictitious transactions. They examine companies with SEC accounting and auditing enforcement releases and designate whether each fraud present in their financial statements is common and /or arises from fictitious transactions. They then examine whether these types of fraud are related to auditor litigation in analyses that control for various client, auditors and case characteristics. The results provide that auditors are more likely to be sued when the financial statement frauds are of a common variety or when the frauds arise from fictitious transactions. |
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