Suggested Term Paper Topics (Choose Only One)
Each item listed under the various topical headings (Internal Control, Fraud, Errors and Illegal Acts etc.) is a separate term paper topic. If you choose a topic other than one on this list please get my approval before beginning your research. (No approval is necessary if you choose a topic on this list.)
Internal Control:
• Describe and discuss the impact of the Sarbanes-Oxley act on management and auditors'responsibilities to study and report on internal controls.
• How do SAS 55 and SAS 78 differ from earlier auditing standards concerning internalcontrols?
• How do auditors assess the control environment?
• Internal Control-Integrated Framework (COSO): What are the major components andissues?
• Review and summarize the major provisions in PCAOB Auditing Standard No. 5
• How can internal controls be strengthened in a small business where ideal separation ofduties is not possible?
• Was it right for the regulators to exempt non-accelerated companies from the SOX 404internal control audit?
Fraud, Errors and Illegal Acts:
• What are the auditors' responsibilities to detect fraud, errors and illegal acts? How have these responsibilities changed as a result of SAS 99 and the Sarbanes-Oxley Act?
• What can management and the auditors do to help prevent fraud, errors and illegal acts?
• How can auditors become better trained to recognize complex financial crime?
• How does the IRS detect fraud?
Legal Liability:
• How has auditor's exposure to litigation changed as a result of the passage of the Sarbanes Oxley Act?
• How vulnerable are auditors to lawsuits in connection with compilation and reviewengagements?
• What is the AICPA doing to help reduce auditors' legal liability exposure?
Other Topics:
• How does the PCAOB differ from its predecessor, the Independence Standards Board (ISB)?
• Is it likely that the PCAOB will be able to fulfill the AICPA's historical role as the issuerof auditing and ethical standards?
• Going concern opinions: How have the standards relating to auditors responsibility with respect to the issuance of the going concern opinions evolved over time.
• Mandatory Auditor Rotation: Should the PCAOB mandate auditor rotation?
• Provision of non-audit services and auditor independence.
• Internal control effectiveness and financial reporting quality.
Some Important Journals:
• The Journal of Accountancy
• The CPA Journal
• Current Issues in Auditing
• Accounting Horizons
• Auditing: A Journal of Practice and Theory
• Journal of Accounting, Auditing and Finance
• Journal of Accounting and Public Policy
• The Pennsylvania CPA Journal, published by the PICPA
• The Internal Auditor, published by the Institute of Internal Auditors