Dr. Jung Wha (Jenny) Lee, Professor of Accounting, and Dr. Eunhye (Grace) Jo, Assistant Professor of Accounting at Mason Korea, along with co-author Dr. Mindy Kim, Assistant Professor of Accounting, Saint Louise University, recently received the Best Paper Award at the 2024 annual conference of the Accounting and Finance Association of Australia and New Zealand (AFAANZ) for their paper titled "Audit Partner Effort and Misvaluation of Fair-Value Estimates."
The study examines the relationship between audit partner involvement and the potential for misstated fair value estimates. This research offers valuable insights for companies with significant Level 3 assets and their stakeholders seeking to mitigate the information asymmetry in fair value accounting. The findings highlight the importance of strong oversight mechanisms in ensuring accurate fair value measurement and the crucial role of audit partners in navigating complex audit areas.
In addition to their award-winning research, Professors Lee and Jo presented a second paper, "The determinants of communication between the auditor and audit committee and its consequences for audit effort," at the 2024 AFAANZ conference, which brought together over 1,000 participants and received more than 500 submissions from academics worldwide.
August 07, 2024