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IMPLIED CONSENT TO PARTICIPATE IN RESEARCH


Investigator:  Jeralyn K McAllister, jeralyn.mcallister@email.saintleo.edu

Title of Study:  The Examination of Fraudulent Financial Reporting By Surveying External Auditors in the Eastern Seaboard on the Effectiveness of Fraud Risk Factors as Related to the Beneish M-score

Purpose of Study:  You are being asked to participate in a research study designed to Identify the external auditor's perception of fraud risk factors to help reduce financial statement fraud through identification of variable relationships.  Link external auditor perceptions to companies audited looking for any relationships between red flags and the Beneish M-score.  To empirically examine the associations between the Beneish M-score, fraud risk factors, and external auditor’s perceptions of their responsibility of fraud detection.

Procedures:   You will be asked to answer the survey questions based on a public traded firm you have audited between the timeframe of 2009-2018 when answering the survey questions.  The survey will require a selection of the company audited plus the year.

Benefits: External auditors will be able to see results to use for fraud detection techniques.

Risks:  None

Costs/incentives:  There is none

Confidentiality:  No information that can identify you personally will be collected as part of this research. The research is completely anonymous.  The data will be kept on a locked password protected computer.

Use of information: This data will be used for this dissertation only

Voluntary   Participation:  The participants may withdraw from the study at any time, or decline to participate, without any penalty.

By Filling out this questionnaire you are indicating the following:

·You have read the above consent statement and have had an opportunity to ask questions to your satisfaction.

·You are Eighteen years of age

·You understand that additional questions should be directed to Zachary Smith at zachary.smith@ saintleo.edu or Margaret Snead at margaret.snead@saintleo.edu

·You agree to participate in the study, under the terms outlined in this consent statement

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* 1. Have you audited a public traded firm between 2009-2018?

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* 2. What Company did you audit  between 2009-2018?  Please list company name and Ticker symbol or CIK# number i.e. (1-800 FLOWERS.COM, Inc.; FLWS or 1084869)

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* 3. What year did you audit the company selected in question 1 (2009-2018)

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* 4. What is your Gender?

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* 5. What is your Job Experience as an Auditor?

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* 6. What is your Job title During the audit?

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* 7. Have you experienced Fraud?

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* 8. Please select the most appropriate answer that rates the fraud detecting effectiveness of the red flag identified below.


Recurring attempts by management to justify marginal or inappropriate accounting based on materiality

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* 9. Please select the most appropriate answer that rates the fraud detecting effectiveness of the red flag identified below.

Domineering management behavior in dealing with the auditor, especially involving attempts to influence the scope of the auditor’s work.

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* 10.  Please select the most appropriate answer that rates the fraud detecting effectiveness of the red flag identified below.

Management and/or board directors have personally guaranteed significant debts of the firm.

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* 11.  Please select the most appropriate answer that rates the fraud detecting effectiveness of the red flag identified below.

Frequent disputes with the current or predecessor auditor on accounting, auditing, or reporting matters

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* 12.  Please select the most appropriate answer that rates the fraud detecting effectiveness of the red flag identified below.

Known history of violations of securities law, or claims against the entity, its senior management, or board directors alleging fraud or violations of securities laws

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* 13.  Please select the most appropriate answer that rates the fraud detecting effectiveness of the red flag identified below.

Management failure to correct known reportable conditions in internal controls on a timely basis

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* 14.  Please select the most appropriate answer that rates the fraud detecting effectiveness of the red flag identified below.

Excessive interest by management in maintaining or increasing the entity’s stock price or earnings trend

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* 15. Please circle the most appropriate number that rates the fraud detecting effectiveness of the red flag identified below.

A practice used by the management of committing to analysts, creditors, and other third parties to achieve aggressive or unrealistic forecasts?

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* 16.  Please select the most appropriate answer that rates the fraud detecting effectiveness of the red flag identified below.

Formal or informal restrictions on the auditor that inappropriately limit his access to people or information or limit his ability to communicate effectively with the board of directors or the audit committee

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* 17.  Please select the most appropriate answer that rates the fraud detecting effectiveness of the red flag identified below.

Inadequate monitoring of significant internal controls

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* 18.  Please select the most appropriate answer that rates the fraud detecting effectiveness of the red flag identified below.

Significant related-party transactions not in the ordinary course of business or with related entities that are not audited or audited by another firm

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* 19.  Please select the most appropriate answer that rates the fraud detecting effectiveness of the red flag identified below.

Domination of management by a single person or small group in a nonowner-managed business without compensating controls

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* 20. Please select the most appropriate answer that rates the fraud detecting effectiveness of the red flag identified below.

Significant, unusual, or highly complex transactions, especially occurring close to year-end that pose difficult “substance over form” questions

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* 21. Please select the most appropriate answer that rates the fraud detecting effectiveness of the red flag identified below.

Significant bank accounts or subsidiary or branch operations in tax-haven jurisdictions for which there appears to be no clear business justification

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* 22. Please select the most appropriate answer that rates the fraud detecting effectiveness of the red flag identified below.

Ineffective accounting and information systems, including situations involving reportable conditions

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* 23. Please select the most appropriate answer that rates the fraud detecting effectiveness of the red flag identified below.

Significant portions of management’s compensation, represented by bonuses and stock options, being contingent upon achieving aggressive targets for the stock price, operating results, financial position, or cash flow

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* 24. Please select the most appropriate answer that rates the fraud detecting effectiveness of the red flag identified below.

Excessive pressure on operating management or personnel to meet financial targets (sales and profitability incentive goals) exerted by the board of directors and chief executive officers

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