Questions
1. Other than regulatory requirements, what are the
direct benefits of financial expertise? Do you agree?
2. What did Section 407 of SOX (U.S. House of Representatives 2002)
require?
3. Why did some companies argue that they can’t attract a financial
expert to sit on their audit committee and disclose their name?
4. Why would companies provide limited support for their decisions to
categorize a director as an to audit committee financial expert (ACFE)
5. According to SEC’s original proposal what would a financial expert be
required to have?
6. What other regulatory bodies address the ACFE issue
7. What was the sample sample and time period of analysis?
8. For all the following questions mention if your answer varied with
type of company and why ?
9. Did all companies disclose ACFEs – if not, what reason do they give
for not having an ACFE?
10. How many ACFEs were named by each company and where did they
disclose them?
11. Were companies conservative or liberal in naming ACFE’s
12. Do companies give support to their ACFE designation ?
13. What is the background of the ACFE’s? Why do they not have as many
CPAs?
14. Are there ACFES with financial and or accounting background, if not
why?
15. Before this study how did researchers identify ACFE – Were there any
difference?
16. What company characteristics determine whether a company designates
one or more ACFEs and why? Discuss the variable statistics (means and
results of the logistic regression)
17. What company characteristics determine whether a company designates
one or more ACFEs? Discuss the variable statistics (means and results of
the logistic regression)
18. What company characteristics determine whether a company designates
one or more ACFEs? Discuss the variable statistics (means and results of
the logistic regression)
19. ● Why do some companies choose to designate more than one financial
expert on their audit committee? ● Why are some companies reluctant to
designate seemingly qualified directors as ACFEs while other companies
designate multiple ACFEs? ● Do companies prone to more extensive
earnings management experience a larger positive stock price reaction
upon the appointment of an ACFE than companies less prone to earnings
management?
20. Is this a sample study or population study? How could the results be
generalized?
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