Brad J. Reed

TL;DR: In this paper, the challenges associated with the identification, examination, and disclosure of related party transactions are discussed and issues and research evidence related to nondisclosure and reliance on management assertions, risk assessment, materiality, fraud detection, the effect of related-party transactions on corporate governance, and international auditing issues.

TL;DR: In this article, the authors investigate the demand for audit quality for the firms being audited by Laventhol and Horwath (LH) at the time of their bankruptcy.

TL;DR: In 2011, the Public Company Accounting Oversight Board (PCAOB) issued a concept release to solicit public comment on the potential direction of a proposed standard-setting project on means to enhance auditor independence, objectivity, and professional skepticism.

TL;DR: In this article, the authors examined 83 SEC enforcement actions involving both fraud and related party transactions and found that the most frequent types of transactions in the enforcement actions were loans to related parties, payments to company officers for services that were either unapproved or non-existent, and sales of goods or services to related entities in which the existence of the relationship was not disclosed.

TL;DR: In this paper, the authors examined 43 SEC enforcement actions against auditors related to the examination of related-party transactions and concluded that the audit failures in these fraud cases were more the result of a lack of auditor professional skepticism and due professional care than any deficiency in current auditing standards.