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EXECUTIVE SUMMARY * Research suggests that cultural differences cause accountants in different countries to interpret and apply accounting standards differently, This research reveals that two accounting values directly influenced by [...]

Since the passage of the Sarbanes-Oxley Act of 2002 (SOX), there has been an increased focus on the control environment over financial reporting. SOX section 404 requires management to evaluate [...]

Every company--an accelerated filer completing the second year of Sarbanes-Oxley (SOX) 404 compliance, a private company wanting to enhance internal-control quality, or a nonaccelerated filer looking at initial compliance efforts [...]

To link to full-text access for this article, visit this link: http://dx.doi.org/10.1016/j.aos.2004.07.004 Byline: Timothy J. Fogarty (a), Vaughan S. Radcliffe (b), David R. Campbell (c) Abstract: This paper examines the AICPA Vision Project, understanding this both as a professional project aimed at repositioning the identity and practice of accountants, and as a window into the activities of professional bodies before recent financial scandals and regulatory reform. Archival and interview material is used to analyze the Vision Project and explicate its meaning and significance. The project is understood in terms of work by Giddens and Abbot concerning the development and repositioning of professional claims. The Vision Project may ultimately be seen as a failure, with professional bodies now distancing themselves from the Vision Project's goals. Nonetheless, the project itself presents an opportunity to understand the mechanics by which professional bodies seek to expand the domain of practice, even if such exceeds the limits of their technical competency. Author Affiliation: (a) Weatherhead School of Management, Case Western Reserve University, 10900 Euclid Avenue, Cleveland, OH 44106-7235, United States (b) Richard Ivey School of Business, The University of Western Ontario, 1151 Richmond Street North London, Ont., Canada N6A 3K7 (c) Drexel University, LeBow College of Business, Philadelphia, PA 19104-2875, United States

The most cost-effective way to deal with financial loss through fraud is prevention. According to the Association of Fraud Examiners (ACFE; www.acfe.org), a company defrauded is unlikely to ever recover [...]

In most organizations, internal audit (IA) groups are focused solely on their role as an independent reviewer and critical appraiser of the effectiveness of internal controls and the company's overall [...]

The impact of the SEC's enforcement program on the accounting and auditing profession is discussed. It serves as a tool to help ensure the quality and reliability of financial statements issued to the public. The enforcement releases have information and educational functions. They are legal documents approved by a judge and represents the findings and opinion of the Commission and its staff.

A common complication of diabetes mellitus is the development of foot lesions due to ischemia (insufficient blood supply to the area). A common pattern in these patients is blood vessel occlusion in the leg below the knee, while the vessels in the foot are spared. Surgical treatment can be performed, usually by placing a bypass graft to the distal tibial or pedal arteries (arteries in the lower leg and foot, respectively). These bypasses may be constructed in various ways, obtaining inflowing blood from different types of grafts and various arterial sources (such as the common or superficial femoral in the thigh, or popliteal in the knee area). The graft vein may be in situ (anatomically left in place with the upper and lower ends of the vein segment joined to the arterial system); reversed vein technique (the vein is removed and reversed to disable the venous valves); or a non-reversed vein graft (the vein is removed, the valves cut, and the vein used as a nonreversed graft). There is no consensus regarding the best technique, and the best source of inflow has also been questioned. A review was undertaken of 146 patients (156 operations) to determine if the various techniques result in different outcomes. All patients had bypass to the dorsalis pedis artery in an effort to avoid leg amputation and 95 percent of the patients were diabetic. Source of inflow of arterial blood was the common femoral (58 legs), distal superficial femoral or popliteal (88 legs), tibia artery (3 legs), and previous bypass graft (7 legs). The most commonly used bypasses were in situ vein grafts (75 legs), and reversed or nonreversed grafts (62 legs). There were four deaths (2.7 percent), and within 30 days, seven grafts failed (4.5 percent). Follow-up averaged 18 months; actuarial patency was 87.1 percent, and limb salvage 91.6 percent. No significant difference was found between in situ and other types of grafts. No significant difference was found in inflow source, suggesting the practicality of using the more distant source because of its shorter length and lower risk of complications. It is suggested that no one technique be rigidly adhered to, but that the best procedure be selected for each situation. (Consumer Summary produced by Reliance Medical Information, Inc.)

Diabetic patients with ischemic disease of the lower leg (decreased blood supply to the leg, often characterized by pain) are not often considered to be candidates for vascular reconstruction surgery. Digital subtraction angiography (DSA) is a vascular imaging technique that has been used by the authors to improve visualization of the distal arteries of the feet and legs of such patients. As a result of this testing, a group of patients likely to benefit from vascular surgery can be identified. The results of a review of the medical records of 96 patients are presented. These patients had extensive disease of the tibial arteries of the lower leg, but the dorsal pedal artery (in the foot) was found to be open. Of this group, 94 percent had diabetes and underwent 97 bypass grafts, which were placed to the dorsal pedal artery. (In a bypass graft, a vein or prosthetic vascular material is grafted to an artery, so that blood flow bypasses a segment of a diseased artery.) All procedures were performed in order to save the limb from amputation. The most common indications for surgery were ischemic ulcer of the foot, secondary infection, pain at rest, and gangrene (death of tissue, usually due to ischemia, followed by bacterial invasion and subsequent decay). The patients (44) with secondary infection were treated with antibiotics prior to surgery. In 92 cases (88.5 percent of total cases) the dorsal pedal artery was visualized with DSA; 91 bypasses were performed. Of 12 cases in which the dorsal pedal artery could not be seen on DSA, but blood flow was audible on continuous wave Doppler (ultrasound) examination, bypass was successful in six cases. Two patients died within 30 days of surgery. However, at the time of hospital discharge, the feet of 89 patients were considered to have been saved. Eighteen months later, actuarial studies revealed graft patency (remaining open) to be 81.8 percent, limb salvage 86.9 percent, and patient survival 80 percent. To avoid overlooking the potential option of vascular reconstruction, especially for diabetic patients, it is recommended that an attempt always be made to visualize the blood vessels of the foot by means of angiography. (Consumer Summary produced by Reliance Medical Information, Inc.)

Percutaneous transluminal angioplasty (PTA) is a procedure used in treating vascular disease, both in the periphery and in the cardiopulmonary system. It involves inserting a deflated balloon at the tip of a catheter into the narrowed or blocked vessel and inflating the balloon to open the vessel. This study examined the long-term effectiveness of PTA in treating peripheral vascular disease in diabetic patients, have are at increased risk for developing vascular disease. PTA was performed on 127 arteries (70 iliac arteries, 41 femoral arteries, and 16 popliteal arteries) found in the legs of 97 diabetic patients. Patients were evaluated for both initial and long-term outcomes of treatment. Initial outcome was judged to be either a technical and clinical success, a technical but not a clinical success, or a technical failure. PTA in the iliac arteries was technically successful in 66 (94 percent) of cases and clinically successful in 62 of the 70 cases (89 percent). Patency rates (the proportion of arteries that were completely open) at five years following iliac PTA were 34 percent for all cases that were initially successful, 76 percent for cases in which initial runoff was good (i.e. where there were two or three normal calf arteries), and 20 percent for those in which initial runoff was poor (where there were no normal calf arteries). Patency rates at five years for femoral arteries were 14 percent for the initially successful cases, 46 percent in which runoff was initially good, and 8 percent in which runoff was initially poor. A number of patients had gangrene in their legs and underwent PTA in an attempt to save avoid amputation. Five-year patency rates for arteries in these patients were 29 percent for iliac, 7 percent for femoral, and 0 percent for popliteal arteries. Results showed that five-year patency rates after PTA was performed in arteries of the legs of diabetic patients were similar to those of nondiabetic patients when the initial runoff was good. For diabetic patients with more severe vascular disease, patency rates were much lower. (Consumer Summary produced by Reliance Medical Information, Inc.)