Decision Making in the Workplace: A Unified Perspective

By Lee Roy Beach | Go to book overview

8
SCREENING OF CLIENTS BY AUDIT FIRMS

Stephen K. Asare University of Florida

At the heart of a free enterprise system is the free flow of reliable information by which creditors, investors, and regulators make informed decisions about the allocation of resources or the need for governmental action. The banker deciding whether to approve a loan, the investor making a decision to buy or sell securities, the local congressman evaluating the fairness of utility rates-all are relying on information provided by others. In many of these situations, the goals of the providers of information differ from those pursued by users of the information ( Watts & Zimmerman, 1986). For instance, in reporting on its own administration of a business, management can hardly be expected to be entirely impartial.

This line of reasoning highlights the social need for independent auditors--individuals of professional competence and integrity who will attest to the veracity of the information on which key decisions are predicated. In this vein, the auditing function is critical to the success of a free enterprise system. Audits increase the credibility of information and allow decision makers to use information with more confidence. By reducing information risk, audits reduce the overall risk of making various types of economic decisions and facilitate resource allocation ( Ashton & Ashton, 1990).

Although professional auditors attest to the reliability of a wide range of information, including financial forecasts and advertising claims, the financial statement audit is by far the most common attest engagement ( Pany & Whittington, 1994). In a financial statement audit, the auditor undertakes to gather evidence and provide a high level of assurance that the financial

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Decision Making in the Workplace: A Unified Perspective
Table of contents

Table of contents

  • Title Page iii
  • Contents v
  • Preface vii
  • 1: Image Theory, the Unifying Perspective 1
  • References 19
  • 2: Why a New Perspective on Decision Making is Needed 21
  • References 30
  • 3: Job Search and Job Selection 33
  • Conclusions 46
  • References 46
  • 4: Career Decisions 49
  • Conclusions 61
  • References 62
  • 5: Supervision and Job Satisfaction 63
  • References 71
  • 6: Why Employees Quit 73
  • Conclusion 89
  • References 89
  • 7: Audit Decisions 91
  • Summary 99
  • References 99
  • 8: Screening of Clients by Audit Firms 101
  • Conclusions 115
  • References 116
  • 9: Organizational Culture and Decision Making 117
  • Summary and Practical Implications 129
  • References 131
  • 10: Mitigating Cultural Constraints on Group Decisions 133
  • Conclusion 141
  • References 142
  • 11: Imagination and Planning 143
  • References 153
  • 12: Designing Marketing Plans and Communication Strategies 155
  • Summary and Conclusions 164
  • References 164
  • 13: Consumer Decisions Involving Social Responsibility 165
  • Conclusion 177
  • References 179
  • 14: Image Compatibility and Framing 181
  • References 193
  • 15: Image Theory and Workplace Decisions: Challenges 197
  • References 208
  • Author Index 209
  • Subject Index 215
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