Wieder, B 2002, Accounting and ERP: Integrated event-accounting with SAP R/3, Tekniks Publications, Sydney, Australia.
Coulton, J & Taylor, S 2002, 'Accounting for Executive Stock Options: A Case Study in Avoiding Tough Decisions', Australian Accounting Review, vol. 12, no. 26, pp. 3-10.
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We review the development of accounting requirements for executive stock options (ESOs) and find that the standard‐setting process has been susceptible to pressure groups including the corporate sector, politicians and even the accounting profession itself. The failure of Australian and overseas accounting regulators to take tough decisions may have created a systematic bias towards the use of ESOs which can result in grossly inefficient compensation structures motivated by a desire to maximise reported profits rather than to create optimal managerial incentives. We conclude that most of the arguments against recognition of stock option expense can be dismissed as blatant self‐interest at worst, or remarkably muddled thinking at best.
Coulton, J & Taylor, S 2002, 'Option Awards for Australian CEOs: The Who, What and Why', Australian Accounting Review, vol. 12, no. 26, pp. 25-35.
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The compensation structure for Australian CEOs, and especially the extent to which they receive executive stock options, is explored. Evidence suggests that the award of executive stock options is common in Australia, but not in as systematic a manner as has been documented for US CEOs. Where ESOs are awarded, they form a significant component of total compensation, even allowing for limitations in the way we approximate their value. Modelling the use of ESOs shows relatively few empirical regularities, other than a positive association between firm size and ESO use. This is consistent with a view that ESOs are a form of “rent extraction” by CEOs, but it may also reflect a bias towards their use created by accounting rules.
Culvenor, J, Stokes, D & Taylor, S 2002, 'A Review of the Proposals for Reform of Independence of Australian Company Auditors', Australian Accounting Review, vol. 12, no. 27, pp. 12-23.
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The Ramsay Report on the Independence of Australian Company Auditors, released in October 2001, contains a review of the current Australian requirements and proposals for reform of the rules and regulations governing auditor independence. In this paper we provide a critical examination of these proposals, in conjunction with any underlying rationale offered in the report. Assuming the onus of proof rests with the proponents of change, we argue that the justification for regulatory change is not well made. We pose a series of questions about the proposals and their potential economic consequences. Many of these questions are empirical and provide opportunities for further research.
Ferguson, A & Stokes, D 2002, 'Brand Name Audit Pricing, Industry Specialization, and Leadership Premiums post‐Big 8 and Big 6 Mergers*', Contemporary Accounting Research, vol. 19, no. 1, pp. 77-110.
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AbstractThis paper investigates brand name, industry specialization, and leadership audit pricing in the wake of the mergers that created the Big 6 and the Big 5 accounting firms. For samples of Australian listed public companies in each of the postmerger years 1990, 1992, 1994, and 1998, we estimate national audit fee premiums for the Big 6/5 auditors and the industry specialists and leaders. We find limited support for the ability of the Big 6/5 to obtain fee premiums over non‐Big 6/5 for those industries not having specialist auditors. Nonspecialist Big 6/5 auditors are able to obtain fee premiums over nonspecialist non‐Big 6/5 auditors for those industries having specialist auditors. However, this result only holds among the smaller half of our sample. We do not find strong support for the presence of industry specialist premiums in the postmerger years, especially after 1990, using various definitions of industry specialist. We find, at best, limited support for the presence of industry leadership premiums. The evidence suggests that after the Big 8/6 audit firm mergers, some caution is required in generalizing the Craswell, Francis, and Taylor 1995 finding of national market industry specialist premiums. More generally, the study raises questions about the tenuous link between the concept of specialization and national market‐share statistics.
Taylor, SL 2002, 'Executive Stock Options: An Accounting Dilemma', Australian Accounting Review, vol. 12, no. 26, pp. 2-2.
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Brown, DA, Sivabalan, P, Booth, PJ & McKenzie, JA 1970, 'An action research approach to improving student learning outcomes using constructed alignment: Some evidence and implications for teaching cost accounting', Proceedings of the AAANZ Annual Conference, Poster Session at the AAANZ Annual Conference, Perth.
Brown, DA, Sivabalan, P, Booth, PJ & McKenzie, JA 1970, 'An action research approach to improving student learning outcomes using constructive alignment: Some evidence and implications for teaching cost accounting', School of Accounting Seminar Series, School of Accounting Seminar Series, Griffith University, Gold Coast Campus.
Wieder, B, Booth, PJ, Matolcsy, ZP & Ossimitz, M 1970, 'Information Systems Quality and ERP - Insights into the Links between 'Value' and 'Integration'', European Conference on Information Technology Evaluation (ECITE Conference), ITEVA, University of Dauphine, Paris, France.
