Dana R. Hermanson
Dinos Eminent Scholar Chair of Private Enterprise
Kennesaw State University
Media and Other Coverage
1998 - Present
Quoted / Featured in the Following (See Vita for Letters to the Editor)
1. “Assessing Risk of Fraud Taking on Added Significance,” Atlanta Business Chronicle,
August 24-30, 2007.
2. “Five Years and Accounting,” CFO Magazine, July 2007.
3. “2007 Oversight Systems Report on Corporate Fraud,” full report at
www.oversightsystems.com; featured in Wall Street & Technology (6/15/07).
4. “Inside Jobs,” The Wall Street Journal, April 30, 2007.
5. “PCAOB: Auditors Still Don’t Get It,” Compliance Week, April 24, 2007.
6. “2007 Oversight Systems Financial Executive Report on Sarbanes-Oxley,” full report at
www.oversightsystems.com; featured in businesswire (4/24/07) and SmartPros (4/24/07).
7. “Emphasis on Ethics Must Come From the Top,” Atlanta Business Chronicle, March 16-22,
2007.
8. “Audit Committees Consider Forensic Audits, Better Communication to Fight Fraud,”
KPMG Audit Committee Institute Focus, March 21, 2007.
9. “Add Forensic Checks to Routine Audits?” Compliance Week, March 6, 2007.
10. “Forensic Audits: Got a Clue?” CFO.com, February 23, 2007.
11. “In Whose Best Interest?” CFO Magazine, January 2007.
12. “Compliance 360 Announces Products for Sarbanes-Oxley and Enterprise Risk
Management,” biz.yahoo.com, May 31, 2006.
13. “The 2006 Oversight Systems Financial Executive Report on Risk Management,” full report
at www.oversightsystems.com; featured in CFO.com (6/23/06) and PM Network (10/06).
Also on Business Wire, Emediawire, and PR Web.
14. “The 2006 Oversight Systems Financial Executive Report on Sarbanes-Oxley,” full report at
www.oversightsystems.com; featured in Sarbanes-Oxley Compliance Journal (4/14/06).
15. “Capital Hill Hearing Testimony: Review of Banking Revision Law,” D. Silvers, AFL-CIO,
April 5, 2006.
16. “The 2006 Oversight Systems Report on Corporate Fraud,” full report at
www.oversightsystems.com; featured in Internal Auditing Report (March 2006), Finance
Visor (2/2/06), CAE Bulletin (2/13/06), PR Web.
17. “Building a Board,” Forbes.com, January 11, 2006.
18. “Reports of Fraud Climb Despite Corporate Reforms,” Agenda, January 9, 2006.
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19. “The 2005 Oversight Systems Report on Corporate Fraud,” full report at
www.oversightsystems.com; featured in Internal Auditing Report (Dec. 2005),
TechNewsWorld (11/28/05), E-Commerce Times (11/28), Sarbanes-Oxley Compliance
Journal (11/14), and SmartPros Accounting (11/9). Also on Ascribe, Emediawire, and PR
Web.
20. “Corporate Governance Center celebrates 10th anniversary,” KSU Press Room, October 26,
2005.
21. COSO Chairman Larry Rittenberg’s testimony to SEC Advisory Committee on Smaller
Public Companies, Sept. 19, 2005.
22. “Studies: Companies Eyeing ERM, But Few Are Implementing,” Compliance Week,
September 2005.
23. “Kennesaw Professor Receives Honor,” The Atlanta Journal-Constitution, Cobb Section,
August 25, 2005.
24. “Coles Business College Names Three to Posts,” The Story, August 25, 2005.
25. “Oversight Systems Survey Finds CEOs Placing Greater Emphasis on Managing Risk,”
Business Wire, August 2, 2005.
26. “Corporate Governance Center Celebrates 10 Years of Helping Businesses Run Efficiently
and Effectively,” Access, August 2005.
27. “Governance Research Center Celebrates Milestone,” Directors & Boards E-Briefing, July
2005.
28. “Projected Decrease in SOX Compliance Costs Met With Skepticism,” Financial Reporting
Watch, May 2005.
29. “Kennesaw State University Oral History Project – Interview with Dana R. Hermanson” (T.
Scott and D. Yow). Conducted April 19, 2005, available at
http://www.kennesaw.edu/cetl/oralhistories/Dana%20Hermanson.pdf
30. “Oversight Systems Survey: S-Ox a Good Investment,” Sarbanes-Oxley Compliance Journal,
March 4, 2005.
31. “Audit Committees Take Aim at Fraud,” KPMG Audit Committee Insights, February 2005.
32. “Too Much Work, or not Enough People?” At Large (www.cpa2biz.com), January 24, 2005.
33. “Sarbanes-Oxley Compliance: High Cost, Sound Investment,” PR News, January 12, 2005.
34. “Could SOX Really Be CPA-Friendly?” At Large (www.cpa2biz.com), January 10, 2005.
35. “Financial Execs Call SOX ‘Good Investment,’” SmartPros Accounting, Dec. 21, 2004 (also
appeared on Emediawire, Business Wire, dBusinessNews Atlanta, and TMCnet).
36. “Fraud, Sarbanes-Oxley, and Emerging Developments,” Online video clip at
http://www.hawcpa.com/home/, December 2004.
37. “Governance Benchmarking: Peer Groups, Reviews Can Play a Critical Role,” Compliance
Week, August 24, 2004.
38. “Who’s Who in Accounting,” Atlanta Business Chronicle, August 6, 2004.
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39. “Oversight Launches Product, Strengthens Management Team,” ATDC Insider, Summer
2004.
40. “Oversight Technologies Forms Advisory Board,” LocalTechWire.com, May 11, 2004.
41. Interview with Judy Martin regarding stock option expensing, Marketplace Morning Report
(NPR), March 29, 2004.
42. “Behind the Verdict, an Angry Public,” New Jersey Star-Ledger, March 7, 2004.
43. “Executive Stock Options Under New Rules at IBM,” The Washington Post, February 25,
2004, E1.
44. “Theory Meets Practice,” Georgia Trend’s Research Georgia, November 2003.
45. “40 Under 40: The Best and Brightest Young Georgians,” Georgia Trend Magazine, October
2003.
46. “NYSE to Reveal How Much It’s Paying 2 More of Its Top Executives,” Interview on
Marketplace Morning Report (NPR), October 9, 2003.
47. “Accounting Professor is a Strong Believer in Corporate Governance,” Access, Fall 2003.
48. “SEC Enforcement Action Lags Against Big 4 Firms,” CBS Market Watch, August 27, 2003.
49. “Language of Business Never More Important,” The Atlanta Journal-Constitution, April 20,
2003 [Feature on Hermanson’s research and career].
50. “Company Audit Fees Likely to Rise Further,” The Atlanta Journal-Constitution, April 19,
2003.
51. “New Laws, New Challenges: Implications of Sarbanes-Oxley,” Strategic Finance, February
2003.
52. “Declining a Place at the Table: More Politicians and Executives Say ‘No Thanks’ to
Director Seats,” The Washington Post, February 27, 2003. Reprinted in The San Francisco
Chronicle and The Arizona Republic; quoted in SEC Commissioner Glassman’s October
2003 speech to NACD.
53. “Publisher’s Products Help Decipher Corporate Issues,” The Tennessean, December 19,
2002.
54. “7 on WorldCom Board Resign,” The Clarion-Ledger, December 18, 2002.
55. “The SEC’s Future,” The Wall Street Journal Online, discussion forum with four legal /
accounting experts, November 2002.
56. “Eye on Corporations,” Marietta Daily Journal, November 27, 2002, 2B.
57. “The Accounting Fraud Squads,” Atlanta Business Chronicle, November 15, 2002.
58. “Sitting in the Hot Seat,” The Clarion-Ledger, November 3, 2002.
59. “Software Upgrades to Sales Modules Can Make Life Easier in Accounting,” Financial
Executives News, November 1, 2002.
60. Quote of the Week, The Corporate Library, October 2 – 16, 2002, Vol. 4, No. 37.
61. “Independence at Stake in These Firms,” The Globe and Mail, October 7, 2002, B7.
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62. “Coming: Auditor Cataclysm,” CFO Magazine, October 2002.
63. “Corporate America: Jack Welch and Greed,” Editorial Page, The Buffalo News, September
23, 2002.
64. “Building Smaller, Better Boards Can Be a Challenge for Firms,” Investor’s Business Daily,
September 4, 2002, 1.
65. “Corporate Scandal: The First Enron Arrest,” Editorial Page, The Buffalo News, August 28,
2002.
66. “The Crisis in Governance: Easing the Current Firestorm over Financial Reporting may not
Require New Answers so Much as Taking Old Ones to Heart,” Internal Auditor, August
2002.
67. “Small Businesses Vulnerable to Fraud on the Inside,” Atlanta Business Chronicle, July 26,
2002, 6B, 7B.
68. WABE Radio (NPR), interview regarding WorldCom and its impact on regulation, June 28,
2002.
69. “WorldCom Scandal: Big Troubles ‘Just Keep Coming’ in Accounting for Businesses,” The
Atlanta Journal-Constitution, June 27, 2002. Cited in “Corporate Responsibility and
Accountability,” stocks.about.com.
70. “The Compensation Balance,” Internal Auditor, June 2002, 42-47.
71. “CEOs Offer Governance Guidance,” The Daily Deal, May 14, 2002.
72. “What’s Next? Enron Was Good. Arthur Andersen Was Good. Good Medicine, That Is. And
Just in Time,” Shareholder Value Magazine, May/June 2002.
73. “NASDAQ to Tweak Governance Rules in May,” TheDeal.com, April 22, 2002.
74. “Who Will Bubble to Top at Coke?” The Atlanta Journal-Constitution, April 16, 2002, A1,
A17.
75. “Emails Open Window on Wall St.,” The Washington Post, April 12, 2002, A1, A18.
76. “Top Accounting Firms Hang onto Consulting Jobs,” USA Today, April 3, 2002.
77. “Inquisitive Directors: Tough Audit Questions Loom Large Since Enron,” The Atlanta
Journal-Constitution, March 29, 2002.
78. “21st Century Governance and Financial Reporting Principles Issued in Wake of Enron
Collapse,” Public Sector News, March 27, 2002.
79. “Kennesaw Weighs in on Corporate Governance Reforms,” Corporate Governance
(www.corpgov.net), March 26, 2002.
80. “21st Century Governance and Financial Reporting Principles,” The Corporate Library,
March 26, 2002.
81. “SEC Pick Will Nudge Agency in New Direction,” Kiplinger Forecasts.com, March 25,
2002.
82. “ACLN Troubles Shed Light on NYSE Listing Standards,” Reuters / Yahoo! Finance, March
19, 2002.
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83. “Enron Inspires Congress to Try Reform,” Los Angeles Times, March 16, 2002.
84. “Client Defections Could Stress Audit Industry,” USA Today, March 15, 2002, 2B.
85. “High Turnover Dogs Global’s Board,” USA Today, March 13, 2002, 3B.
86. “Telecom is Vulnerable to Accounting Probes,” Dow Jones News Service, March 12, 2002.
87. “Global Crossing’s Problems Multiply,” USA Today, February 28, 2002, 3B.
88. “Critic: CPAs’ Group Napping,” The Atlanta Journal-Constitution, February 15, 2002, F1,
F5.
89. “The Enron File: Will Anyone End up Going to Jail?” The Christian Science Monitor,
February 13, 2002, 2.
90. “Prosecution Likely, Experts Say,” The Baltimore Sun, February 8, 2002.
91. “Flogging the Auditor,” National Post, January 26, 2002.
92. “The Risky Business of Audit Committees,” Corporate Board Member, Summer 2001.
93. “Shadow of a Doubt,” CFO Magazine, February 2001.
94. “Breaking Up the Big 5,” CFO Magazine, May 2000.
95. “IT Staffers Charged With Accounting Frauds,” Computerworld, December 13, 1999.
96. “Watchdogs or Lapdogs,” CFO Magazine, May 1999.
97. GPTV Georgia Business Report, Television appearance to discuss fraud research, April 2,
1999.
98. “The SEC’s Big Stick,” Business Finance Magazine, April 1999.
99. “SEC May Put Small Firms in Audit Plan,” The Wall Street Journal, March 25, 1999, A2.
Coverage of the 21 st Century Governance and Audit Committee Principles, issued by the
Corporate Governance Center, written by Lapides, Beasley, Carcello, DeZoort,
Hermanson, Neal, and Tompkins (Issued May 2007)
1. “Seven Leading Academics Issue 21st Century Governance and Audit Committee Principles,”
AScribe Newswire and TMCnet, May 8, 2007.
2. “Academics issue governance principles,” Pensions & Investments, May 9, 2007.
3. “21st Century Principles,” CorporateGovernance.net, May 2007.
4. “Governance Principles, Updated,” Directors & Boards E-Briefing, June 2007.
5. “Group Urges New Definition of Audit’s Financial Expert,” Agenda, June 4, 2007.
6
Coverage of the 21 st Century Governance and Financial Reporting Principles, issued by the
Corporate Governance Center, written by Lapides, Hermanson, Beasley, Carcello,
DeZoort, and Neal (Issued March 2002)
1. “21st Century Governance and Financial Reporting Principles Issued in Wake of Enron
Collapse,” AScribe Newswire, March 26, 2002.
2. “21st Century Governance and Financial Reporting Principles Issued in Wake of Enron
Collapse,” The Associated Press, March 26, 2002.
3. “AICPA News Flash: Governance and Financial Reporting Principles Issued,” AICPA,
March 26, 2002.
4. “21st Century Governance and Financial Reporting Principles,” The Corporate Library,
March 26, 2002, quotes Lapides and Hermanson.
5. “Kennesaw Weighs in on Corporate Governance Reforms,” Corporate Governance, March
26, 2002, quotes Lapides and Hermanson.
6. “21st Century Governance and Financial Reporting Principles Issued in Wake of Enron
Collapse,” Public Sector News, March 27, 2002, quotes Lapides and Hermanson.
7. IIA President, Bill Bishop, III, March 28, 2002, letter to NYSE re: Corporate Accountability
and Listing Standards with position paper, Institute of Internal Auditors Recommendations
For Improving Corporate Governance. Addresses recommendations to be made on April 4,
2002, in a presentation to a special committee of the Board of Directors of the New York
Stock Exchange [and later to the U.S Congress], includes the following narrative: “… While
many models could serve as the starting point for the development of sound corporate
governance principles, the 21st Century Governance Principles for U.S. Public Companies,
recently issued by the Corporate Governance Center at Kennesaw State University in
Kennesaw, Georgia, appear to the Institute to be particularly appropriate. The Institute
believes these 10 principles provide a sound model for effective governance because, like the
Corporate Governance Center, the IIA believes that sound governance is dependent on the
synergy generated among the four components of the governance system: the board,
management, internal auditors, and external auditors. … Within the broad Corporate
Governance Center framework, The Institute believes that the disclosures described in
Principles 8 and 10 have particular relevance to internal auditing.” (Also included at
Financial Executives International website, www.fei.org.)
8. “UT Professor, Others Call for New Financial Policies,” Knoxville News-Sentinel, March 28,
2002, C1, quotes Carcello. (Also published by Knight Ridder Tribune Business News.)
9. “21st Century Corporate Governance Principles for U.S. Public Companies,” Resource
Center: Board Governance, Corporate Board Member, April 2002. (Also at Resource Center:
Audit Committees, Corporate Board Member.)
10. “Should Audit Directors Get Stock Compensation?” Director’s Alert, April 2002, 2.
11. “ KSU Center Releases Ethics List,” Marietta Daily Journal, April 3, 2002, 2B.
12. Various radio spots throughout Kentucky – Interviews with Terry Neal regarding the “21st
Century Principles,” April 5, 2002.
13. “Professor’s Proposal Presented to NYSE,” KY Kernel, April 5, 2002, quotes Neal.
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14. Recommendations for Improving Corporate Governance, A position paper presented by IIA
to the U.S. Congress, April 8, 2002, same as March 28, 2002 IIA letter to NYSE above.
15. “Three Routes to Improve Corporate Governance,” by Bill Bishop III, Directorship, May
2002, content similar to March 28, 2002 letter to NYSE above. (Also appeared in IIA Issues
and Answers.)
16. “Accounting Group Endorses Principles,” Tuscaloosa News, May 2, 2002.
17. “IIA Urges NYSE to Strengthen Corporate Governance,” Derby City Disclosures, IIA
Louisville Chapter, May 2002, 3.
18. “IIA Calls for Principles on Corporate Governance,” Accounting Today, May 6-19, 2002, 1415.
19. “Reform and Renewal,” by Neal and DeZoort, The Daily Deal, May 18, 2002.
20. “Taking Governance to the Next Level,” Tone at the Top, Issue 14, June 2002, 1-3.
21. Comparison of Corporate Governance Guidelines and Codes of Best Practice: United States,
by Holly J. Gregory (Weil, Gotshal & Manges, LLP), June 2002 Edition, Appendix II, 8:
International Listing of Corporate Governance Guidelines and Codes of Best Practices.
22. Report of the NYSE Corporate Accountability and Listing Standards Committee, NYSE,
June 6, 2002, A-83: The “21st Century Governance Principles for U.S. Public Companies” is
included in the Appendix, listing the principles and crediting the Corporate Governance
Center at Kennesaw State University.
23. “NYSE Clarifies That All Listed Companies Must Have Internal Audit Function,” IIA,
August 2, 2002.
24. “Corporate Governance, Leadership, and Values,” Harvard Business School Program, cites
Daily Deal article above on the principles, November 2002.
25. “Moving Toward ‘Best Practices’ in Corporate Governance,” Aquinas Consulting Group,
November 10, 2002.
26. “Eye on Corporations,” Marietta Daily Journal, November 27, 2002, 2B.
27. “Board of Conseco will see Makeover; Luring Strong Directors While in Bankruptcy will be
Tough,” The Indianapolis Star, December 14, 2002.
28. “Chapter 18: Foundations of Control,” Management, Eighth Edition, Robbins and Coulter,
Pearson / Prentice Hall, 2004. (Also in Ninth Edition)
Coverage of Fraudulent Financial Reporting: 1987-1997, An Analysis of U.S. Public
Companies, sponsored by COSO, written by Beasley, Carcello, and Hermanson (Published
March 1999)
(1) Coverage in Newspapers / General Media
1. Associated Press Newswires and AP Online, “Study Links Small Companies, Fraud,” March
26, 1999.
2. Associated Press article, “Cooking the Books: Small Companies are the Biggest Culprits,
Study Finds,” appeared in newspapers including:
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· Newsday
· San Diego Union-Tribune
· Dallas Morning News
· Austin American-Statesman
· Atlanta Journal-Constitution
· Star-Tribune Newspapers (Minneapolis/St. Paul)
· Pittsburgh Post-Gazette
· Des Moines Register
· Florida Times-Union
· Harrisburg Patriot
· Orlando Sentinel
· New Orleans Times-Picayune
· Sacramento Bee
· San Francisco Chronicle.
3. The Baltimore Sun, “Enron Used an Old Recipe to Cook Books,” January 27, 2002, 1C.
(Also published in Chicago Tribune Internet Edition.)
4. Barron’s, “Fully Accountable: Auditors Scrutinized After Spate of Frauds,” March 29, 1999,
21.
5. Bloomberg, “ U.S. SEC Considers Audit Panel Suggestions for Small Companies,” March
25, 1999.
6. Investor Relations Business, “Fraud on the Small Cap Side,” April 12, 1999.
7. Knoxville News-Sentinel, “Study Finds Smaller Companies More Susceptible to Fraud,”
June 1, 1999, C1-C2.
8. The Wall Street Journal, “Watchdogs Frustrated by Sarbanes Extension,” October 4, 2005,
C3.
9. The Wall Street Journal, “Missing Numbers: Behind Wave of Corporate Fraud: A Change in
How Auditors Work,” March 25, 2004, A1, A14 (cites a key result from the study).
10. The Wall Street Journal, “One More Dirty Job for Accountants: Take the Blame,” March 20,
2002, A23.
11. The Wall Street Journal, “Aspiring Midas Enmeshes Auditors in Gold Chain,” March 1,
2002, C1.
12. The Wall Street Journal, “Many Firms Changed Revenue Booking As a Result of Heightened
SEC Scrutiny,” March 15, 2000, A17.
13. The Wall Street Journal, “SEC Lists Revenue-Booking Guidelines,” December 6, 1999, C17
(bullet on A1).
9
14. The Wall Street Journal, October 7, 1999, A6 (article confirmed extension of BRC
recommendations to smaller companies).
15. The Wall Street Journal, “Big Board Now Wants SEC to Include Smaller Firms in New
Audit-Panel Rules,” June 25, 1999, A8.
16. The Wall Street Journal, “SEC May Put Small Firms in Audit Plan,” March 25, 1999, A2
(bullet on A1).
(2) Coverage in Financial and Governance Publications (Not authored by Beasley, Carcello,
and Hermanson – See Vita for such several papers based on COSO data set)
1. Accountancy International, “Smaller Firms’ Audit Committee Rules,” August 1999, 55.
2. Accountancy International, “Financial Statement Fraud: Highest Fraud Levels Found Among
SMEs,” May 1999.
3. Accounting Education News, “COSO Introduces Web Site,” Spring 2000.
4. Accounting Education News, “COSO to Release Fraud Study in Spring 1999,” Spring 1999,
15.
5. Accounting Today, “Briloff and the Lost Horizon,” June 12, 2000.
6. Accounting Today, “Say it Ain’t so, Fran: SEC Wants Tougher Audit Rules,” November 8,
1999, 14, 16.
7. Accounting Today, “A Battle Royale on Audits,” October 25, 1999, 1.
8. Accounting Today, “Blue Ribbon Panel Plan Requires More Disclosure to Work,” July 26,
1999, 14+.
9. Accounting Today, “Crooks for Clients: Wimps for Accountants”, April 26, 1999, 6.
10. Audit Wire, “SEC Issues Audit Committee Proposals,” November 1999, 3.
11. AuditWire, “Profiling Financial Statement Fraud,” May/June 1999, 1-2.
12. AuditWire, “Letters to Editor,” July/August 1999, 1-2.
13. CAMagazine.com, “Keeping Audit Committees Effective.”
14. CA Magazine, “Control Versus Controls,” October 1999.
15. CFA Magazine, “Forecast: Clear Skies?” March / April 2003, 28-34.
16. CFO Magazine, “Calling off the Dogs,” December 2001.
17. CFO Magazine, “Jumping Ship: What if Audit Partners Couldn’t Join Their Clients?” May
2000, 63.
18. CFO Magazine, “Earnings Management: Prematurely Raking it in,” November 1999.
19. CFO Magazine, “Small Caps Get Squeezed,” September 1999, 18.
20. Chartered Accountants Journal of New Zealand, “Small Companies Figure Big in Fraud
Findings,” July 1999, 71.
10
21. The Corporate Board, “Reducing Audit Committee Liability Dangers,” November 1999, 14.
22. Corporate Financing Week, “Study Suggests Shortcoming in Accounting Fraud Effort,” April
19, 1999, 1.
23. Corporate Financing Week, “Committee of Sponsoring Orgs Launches Fraud Study,”
October 5, 1998, 7.
24. The CPA Journal, “Organizational Culture and Fraudulent Financial Reporting,” March 2003.
25. The CPA Journal, “Another Perspective on the COSO Study,” April 2001.
26. The CPA Journal, “COSO Study Released,” June 1999, 10.
27. CPA Letter, “AICPA Publishes Study on Financial Fraud,” July 2000, 4.
28. CPA Letter, “Chair’s Corner,” April 2000.
29. Critical Perspectives on Accounting, Special issue of the journal devoted to criticism of the
AAA, the COSO study, and alleged bias in the COSO research, Vol. 12, No. 2, 2001. (We
were given no opportunity to respond. See Accounting Today letter to editor in Vita for our
defense. The issue of concern to Professor Briloff was fully addressed in our monograph.)
30. Directors & Boards, “Financial Reporting: Abuse Prone Areas,” Summer 2003.
31. Director’s Alert, “Changing Auditors? Not so Fast...” May 1999, 10-11.
32. Director’s Alert, “How Can You Tell if Someone’s Cooking the Books?” August 1998, 1-2.
33. Director’s Monthly, “Director Education: Needed More Now Than Ever,” January 2000, 1-5.
34. Director’s Monthly, “COSO to Release Fraud Study in Spring 1999,” February 1999, 17-18.
35. Directorship, “Business Tips for Deterring White Collar Crime,” March 2000.
36. DM Extra, “WorldCom: Six Questions for Directors,” July 2002.
37. Financial Executive, “COSO Releases Landmark Study on Fraudulent Financial Reporting,”
May/June 1999, 58.
38. Fortune, “The Crackdown is Here,” August 2, 1999, 75-92.
39. Global Proxy Watch, “Fraud Flags,” April 20, 2000, 1.
40. Global Proxy Watch, “Profiles in Fraud,” April 23, 1999, 1.
41. Internal Auditing, “Book and Review Corner: Fraudulent Financial Reporting: 1987-1997,”
May/June 1999, 45-47.
42. Internal Auditor, “Letter to Editor,” August 1999, 9.
43. Internal Auditor, “A Look at Financial Statement Fraud,” June 1999, 13-14.
44. Journal of Accountancy, “Shedding Light on Fraud,” September 1999, 18.
45. Petroleum Accounting and Financial Management Journal, “Current Developments in
Financial Accounting and Reporting,” Summer 1999.
46. Policy Analysis, “The Quality of Corporate Financial Statements and Their Auditors before
and after Enron,” November 2003.
11
47. Practical Accountant, “A Real Look at Fraud,” May 1999, 6.
48. Preventing Business Fraud, “What Can You do to Halt Financial Reporting Fraud?” July
1999, 1.
49. Rural Cooperative Magazine, “Waving the Red Flag,” July / August 2003.
50. Strategic Finance, “Do You Remember COSO?” February 1, 2002, 8.
51. Tone at the Top, “Stop, Look and Listen,” November 1999, 2-3.
52. The Trusted Professional, “Small Companies Commit Most Financial Fraud,” June 1999.
(3) Coverage in SEC Publications or Speeches
1. Statement by SEC Staff: Remarks Before the 2005 AICPA National Conference on Current
SEC and PCAOB Developments, December 5, 2005.
2. Testimony Concerning Small Business Capital Formation, Alan Beller’s testimony to the
Subcommittee on Oversight and Investigations of the Committee on Financial Services,
United States House of Representatives, September 23, 2004.
3. Final Rule: Management’s Reports on Internal Control Over Financial Reporting and
Certification of Disclosure in Exchange Act Periodic Reports, June 2003.
4. Final Rule: Standards Related to Listed Company Audit Committees, April 2003.
5. Final Rule: Strengthening the Commission’s Requirements Regarding Auditor Independence,
March 2003.
6. Report Pursuant to Section 704 of the Sarbanes-Oxley Act of 2002, January 2003.
7. Proposed Rule: Enhancing Financial Information Through Improvement of Auditing Process
Oversight, July 2002.
8. Proposed Rule: Disclosure in Management’s Discussion and Analysis About the Application
of Critical Accounting Policies, May 2002.
9. Written Testimony: Accounting and Investor Protection Issues Raised by Enron and Other
Public Companies, H. Pitt, March 2002.
10. Final Rule: Revision of the Commission’s Auditor Independence Requirements, October
2001.
11. Turner Letter to IASB, July 2001.
12. Speech: Remarks Before the 2005 AICPA National Conference on Current SEC and PCAOB
Developments, J. Burns, December 2005.
13. Speech: Revenue Recognition, L. Turner, May 2001.
14. Speech: The Times, They Are A-Changing, L. Turner, May 2001.
15. Speech: Audit Committees: A Roadmap for Establishing Accountability, L. Turner, March
2001.
16. Speech: Audit Committees: A Call to Action, L. Turner, February 2001.
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17. Speech: Opportunities for Improving Quality, L. Turner, December 2000.
18. Speech: Remarks to the Panel on Audit Effectiveness, L. Turner, July 2000.
19. Speech: Corporate Responsibility and the Audit Committee, J. Morrisey, March 2000.
20. Speech: Current SEC Financial Fraud Developments, Commissioner I. Hunt, March 2000.
21. Speech: Remarks at the 27th Annual AICPA National Conference on Current SEC
Developments, Commissioner I. Hunt, December 1999.
22. Speech: Behind the Numbers of the SEC’s Recent Financial Fraud Cases, R. Walker,
December 1999.
23. Final Rule: Audit Committee Disclosure, December 1999.
24. Staff Accounting Bulletin No. 101, Revenue Recognition in Financial Statements, cited in
summary and fact sheet, December 1999.
25. Turner Letter to AICPA, December 22, 1999.
26. Turner Letter to ASB, December 9, 1999.
27. Speech: The Panel on Audit Effectiveness, L. Turner, October 1999.
28. SEC Call for Papers: AAA and SEC Joint Conference, Fall 1999.
29. SEC Comment Letters, numerous comment letters to the SEC over the years have cited the
study.
(4) Other Coverage
1. Agilecor.com, “Software Revenue Recognition Links,” November 2003.
2. AICPA Audit Risk Alert - 1999/2000, separate section on the study, 22-28.
3. AP Radio, March 1999.
4. Auditing Course Syllabi and Auditing Textbooks, the study is cited is numerous syllabi and
texts.
5. BDO Seidman, SEC Year in Review, March 2000.
6. Bear Stearns, Accounting Issues: Revenue Recognition 101, March 10, 2000.
7. The Bottom Line, “Joe Carcello Participates in Landmark Study, University of Tennessee,”
Spring 1999, 2.
8. Bureau of National Affairs, Audit Committees.
9. Bureau of National Affairs, “COSO Suggests Regulators, Exchanges Rethink Exemptions for
Smaller Firms,” March 30, 1999.
10. Canadian Public Accounting Board, Issues Raised by Enron’s Collapse, a discussion paper
prepared by a group of Certified General Accountants (CGC), March 2002.
11. cbmexam.com, “Module 900: Corporate Control and Governance.”
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12. CCH SEC Accounting Rules, “Accounting Industry Group Releases Fraud Study,” April 23,
1999, Issue No. 356, 1-2.
13. Companyreporting.com, “Revenue Recognition.”
14. Complianceinfo.com, “Tip: Create a Fraud-Safe Environment,” 2003.
15. The Corporate Library, “Reviews by Dr. D. Jeanne Patterson,” March 2001.
16. COSO Chairman Larry Rittenberg’s testimony to SEC Advisory Committee on Smaller
Public Companies, Sept. 19, 2005.
17. Deloitte & Touche LLP, The Review, “COSO Studies Fraudulent Financial Reporting,” April
12, 1999, 1-2.
18. erisk.com, “Governance and Risk Controls: The COSO Framework.”
19. Ernst & Young LLP, Audit Committees: Providing Oversight in Challenging Times.
20. Ernst & Young LLP, Financial Reporting Briefs, “COSO Issues Report on Fraudulent
Financial Reporting,” July 1999, 10-11.
21. FocusInvestor.com, “Accounting: Focus on the Red Flags,” May 2002.
22. FraudInformation.com, “SEC Cracks Down on Revenue Hoaxes,” 2000.
23. Fried, Frank, Harris, Shriver, & Jacobson, “Tougher Standards for Audit Committees: The
Report of the Blue Ribbon Committee,” May 1999.
24. Funcpe.com, “SEC: Revenue Recognition.”
25. GAO, Securities Exchange Act: Review of Reporting Under Section 10A, February 4, 2000.
26. Goldman’s Critical Support, “Investing in a Small Business? Hold onto Your Wallet,”
Summer 2001.
27. GPTV Georgia Business Report, Television appearance by Hermanson, April 2, 1999.
28. Grant Thornton, “SAB 99 Enhances Fraud Audit Procedures,” 2000.
29. Institute of Internal Auditors UK and Ireland Online, “WorldCom Fraud Signals Need for
Governance Reform,” June 2002.
30. Institute of Internal Auditors, “IIA Urges NYSE to Strengthen Corporate Governance,” IIA
cited Center Principles and COSO study in presentation to NYSE, April 2, 2002.
31. Institute of Internal Auditors, “COSO Launches New Study to Provide Guidance on
Assessing and Managing Enterprise Risks,” January 21, 2002.
32. International Anti-Corruption Conference, “COSO Study on Fraud in Financial Reporting,”
October 1999.
33. KPMG, 1999 Audit Committee Summer Update, 1.
34. KSU Now, “Accounting Prof’s Research Shines Spotlight on KSU,” September 1999, 2.
35. National Association of Corporate Directors, Report of the NACD Blue Ribbon Commission
on Audit Committees, several citations.
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36. New York State – Office of the State Comptroller, Impact of the Corporate Scandals on New
York State, August 2003.
37. Office of Federal Housing Enterprise Oversight, Report of the Special Examination of Fannie
Mae, May 2006.
38. POB Panel on Audit Effectiveness, Report and Recommendations, several citations
39. PWC, Financial Fraud – Understanding the Root Causes, 2002.
40. PWC, Audit Committee Update 2000, section on the study.
41. Smart Pros, “Book Corner: Creative Accounting: Prevention and Detection,” March 2002.
42. SpencerStuart Leadership, “Financial Reporting: The Role of the Finance Executive.”
43. Lynn Turner, “Testimony to U.S. House of Representatives,” March 13, 2002.
44. United States Senate, The Role of the Board of Directors in Enron’s Collapse, by the
Permanent Subcommittee on Investigations of the Committee on Government Affairs, United
States Senate, July 8, 2002, 6.
45. USA Today, “Experts Say Founders’ Traits Can Lead to Trouble,” May 13, 2002.
46. Web sites, AAA, FEI, IIA, AICPA and others.
47. The World Bank Group, “Corporate Governance Library: International Research.”
Other Research Cited (Other than in Journal Articles)
1. AICPA Audit Risk Alert - 2000/2001, separate section on Fraud-Related SEC Enforcement
Actions Against Auditors: 1987-1997.
2. Business Times of Singapore, “Does Corporate Governance Really Work?” September 1,
2003. Audit Fee paper (Carcello, Hermanson, Neal, and Riley) cited.
3. Business Week, “Enron: How Governance Rules Failed,” January 21, 2002, 28-29. Audit
Committee Disclosure paper (Carcello, Hermanson, and Neal) cited.
4. POB Panel on Audit Effectiveness, Report and Recommendations, cited Fraud-Related SEC
Enforcement Actions Against Auditors: 1987-1997.
5. Office of the SEC’s Chief Accountant: Letter: 2000 Audit Risk Alert to the American
Institute of Certified Public Accountants, cited Fraud-Related SEC Enforcement Actions
Against Auditors: 1987-1997, October 2000.
6. SEC Proposed Rule: Enhancing Financial Information Through Improvement of Auditing
Process Oversight, cited Fraud-Related SEC Enforcement Actions Against Auditors: 19871997, July 2002.
7. SpencerStuart Leadership, “Financial Reporting: The Role of the Finance Executive,” cited
Fraud-Related SEC Enforcement Actions Against Auditors: 1987-1997.
8. Presentation to United States Department of Justice, “Understanding and Detecting Business
Fraud: Accounting and Legal Issues,” Susan L. Menelaides, cited Fraud-Related SEC
Enforcement Actions Against Auditors: 1987-1997, August 2002.
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9. Corporate Governance Executive, “Organising the Audit Committee to Maximise its
Effectiveness,” January 2003. Cited 2000 Accounting Horizons article (Beasley et al.).
10. Minnesota State Colleges & Universities, “System-Level Accountability Framework:
Creating a Governance Scorecard.” Cites 1997 Corporate Board article (D. Hermanson and
H. Hermanson) on using the BSC as a board tool.