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There have been fundamental shifts in the legal liabilities of auditors in the twentieth century. The article analyses myriad cases. It reveals that case rulings in the later decades moderated previous decisions that had resulted in an expansion of the scope of auditor liability. It shows that there has been a convergence in approach within Commonwealth nations in respect of auditor liability for negligent misstatements. Numerous factors are identified that explain, first the expansion of auditor liability in the early to middle decades of the twentieth century, and also its subsequent reversal in latter decades. The article concludes by arguing that the current positions not likely to remain. The decisions of the courts are shown to be the products of continual struggle to balance the respective rights and interests of auditors, investors (both current and prospective) and the wider community.

This study provides some empirical evidence of the relationship between face‐to‐face contact for accounting students by comparing their performance with their attendance at tutorials. Previous research has shown that there was no significant difference in the performance of students, measured by their results, between students who attended tutorials and lectures with those who did not. Internal students who had face‐to‐face contact outscored those who did not attend lectures and tutorials. This suggests that attendance does explain performance. Consistent with previous studies, we posit that students who attended tutorials have a greater possibility of scoring a higher mean average grade than those who did not attend tutorials. We hypothesise that attendance at tutorials is useful and is conducive to better learning in accounting at the undergraduate levels. With debate about converting all accounting undergraduate courses into the flexible mode over the horizon, this study provides some empirical evidence to accounting students, accounting academics and university administrators as to the suitability of learning and teaching modes in accounting at the undergraduate level.

In response to concerns about unreliable information systems, the American Institute of Certified Public Accountants (AICPA) and the Canadian Institute of Chartered Accountants (CICA) have launched a new assurance service called SysTrust. The objective of a SysTrust engagement is for the practitioner to issue an attestation/assurance report on system(s) reliability. The development and deployment of the CPA/CA SysTrust service, however, is done in a high litigation risk environment, especially in the United States, Canada, Australia, New Zealand, and the United Kingdom. Our purpose is to evaluate the legal environment in these five nations so CAs and CPAs can comprehend the issues involving potential litigation prior to initiating SysTrust engagements. Presently, no legal case in the U.S., Canada, Australia, New Zealand, and the United Kingdom has yet been reported which addresses directly accountant liability to third parties for negligent information system assurance services. An analysis of related legal cases sheds light on the potential liability of SysTrust providers. However, the current international legal environment is characterized by a high level of uncertainty. Several risk management strategies, including risk exposure analysis, client engagement evaluation, engagement letters, loss-limit clauses, and alternative dispute resolution, are presented that SysTrust providers may implement to minimize litigation risk.

This paper studies the current accounting standards requirements in Macau. Macau has its own financial reporting standards for commercial enterprises, although it is not yet fully developed. We identify that currently there is a lack of a set of financial reporting standards to govern private not-for-profit organizations and also Macau has not yet built up a set of government accounting standards. Currently government departments in Macau mostly adopt cash basis budgeting with the exception of six government entities. The authors propose that Macau should establish a system of accounting standards for various entities in order to improve accounting information quality and thus protecting public interest. It is recommended that at the commercial enterprises level, full adoption of IFRS should be implemented, while at the same time maintaining the current “small GAPP” for small-medium sized enterprises. For private not-for-profit organizations, there is an urgent need to establish a set of financial reporting requirements but it should be simple and based on historical cost accounting. In the long run, Macau should also establish a set of government accounting standards which is separated from budgeting. The research result can be extended to other countries/regions which are at the starting phase of standards setting, especially to those which are small size economy, adopt code law and non-English speaking countries or regions.

This study aims to determine whether different perceptions based on a learner's characteristics of age, gender, ethnicity, and duration of stay in Australia provide an explanation of teaching performance evaluations. Perceptions determine interpersonal behaviour (including communication and motivation)and the way a learner believes that they are going to be assessed by the teacher. Thereby, this will impact on a student's formal evaluation of teaching performance through a student survey of teaching (SST). This study considers the existence of ethnic and gender bias in postgraduate students undertaking accounting-related courses. The study applies a combination of quantitative online and offline surveys which include SST data and additional questions identifying demographic data to demonstrate that a learner's evaluation of teaching performance is influenced by the learner's perceptions. Whilst there were no significant findings related to gender, we identified that students from certain ethnic backgrounds and citizenship, had different perceptions of a teacher's performance. In addition we identified age and duration of stay in Australia as two demographic elements which were also statistically significant. Refereed/Peer-reviewed

Current popular culture is connected to the birth of a secular andmaterialistic interpretation of reality, partly brought about by accounting andthe principle of profit maximisation. Materialism, which is the tendency to bemore concerned with material values, through rational experimentation anddiscourse – so people were given to believe – would solve all of thefundamental issues related to human governance and development. Witheducation and legislative action, people’s happiness would be determined,according to materialism, by better health, better food, better education andbetter living conditions. First, this paper applies Foucault’s genealogy, toexplain that materialism is a product of a series of historical events that areclosely related to the need to keep account and the practice of accounting.Second, this paper seeks to show that, accounting and ‘scientific materialism’has been instrumental in paving the course to their and our common failure.Third, the paper proposes a shift away from our impulse for a mere materialexistence leading to what has now become ‘popular culture’, to a new point ofenhancing an ever advancing civilisation. Refereed/Peer-reviewed