A case analysis of Cendant, the American business and consumer services corporation, generates guidelines for enhancing managers' evaluation of risk. Specific hints of problem areas that can be addressed through future control design are detailed. Of particular import to managers are risk...

My experience as a member of the Financial Accounting Standards Advisory Council provides the perspective to outline a framework of ten steps which I believe will help managers both organize and understand the nature of the tensions that have arisen in the past and are likely to continue into...

Empirical profiling of 193 companies in six countries that choose to change auditors to a 'Big 5' firm permits managers who are responsible for such decisions to benchmark their financial context. In particular, the level of debt, returns, and taxes observed when companies choose to change...

When a story appears in the media reporting `restatements, frauds, and investigations,' how do reported dollar effects relate to value? Declines to about half the pre-event levels are observed, even when the overall market has been increasing significantly. The declines in price (cum dividend)...

Seven key announcements made during the prolonged debate on the Financial Accounting Standards Board's (FASB) proposal to recognize the effect of all stock-based compensation on earnings are studied. Using several samples of firms involved in the debate, evidence that investors expected no net...