Audit policy has used numerous terms to define auditors' responsibilities over the past several decades. This study explores the structural relationship among key terms used to define auditors' responsibilities including 'misstatement' and embedded terms such as error, irregularity and fraud....

Purpose – Basing one's business decision on an approach that relies on experience may work sometimes. Experience is a useful part of the process, but it may also lock the decision maker into a method that cannot lead to an innovative solution. An alternative to this experience‐based (linear)...

Long-term compensation plans have been suggested as means of providing incentives to the managers to maximise stockholders' welfare. There is no direct evidence that the existence of these plans will change the decision-making behaviour of individual managers. The following study examined the...