Current directions in auditing research

Article Abstract:

Recent research in the field of auditing can be divided into three categories, the interaction between auditors and their external environment, the audit process and developments in audit technology, and micro-economic studies of the audit industry. Research areas that have produced interesting results include the role of the auditor, reporting audit results, the use of audit risk and decision models, internal control models, audit judgments, and the use of statistical sampling in auditing. The bulk of this research has been carried out in North America; auditing research in the UK has lagged behind because of a lack of funding and interest in auditing among academic accountants.

Auditing

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Frank Kidd: the new president (Institute of Chartered Accountants of Scotland)

Article Abstract:

The Institute of Chartered Accountants of Scotland's new Pres Frank Kidd is partner-in-charge of Cooper & Lybrand's Edinburgh office. He believes that the most pressing issue during his tenure of office is the restructuring of the profession. Cooperative efforts with other chartered bodies may result in revised areas of responsibility and also provide a common basis for relations with the government. Although members of the Institute work in international and Scottish industrial firms as well as in the public sector, Kidd finds that the campaign for a Single European Market in 1992 affects all members.

Management, Officials and employees, Institute of Chartered Accountants of Scotland, Kidd, Frank

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Launching New Aircraft

Article Abstract:

Research and development (R&D) costs in the aircraft industry are significant enough and relevant enough that they should not be automatically expensed. General R&D costs and early costs in the development of a product are written off in the first year. However, R&D costs directly related to a project that is considered to be commercially viable can be deferred. These costs can be capitalized and amortized against future sales. British Aerospace accounts and footnotes are used as examples. These R&D costs are the major intangible associated with the aircraft industry.

Accounting and auditing, Aircraft industry

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