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We summarize relevant academic research findings to contribute to the Public Company Accounting Oversight Board ͑PCAOB͒ project on financial statement fraud and to offer insights and conclusions relevant to academics, standard setters, and practitioners. We discuss the characteristics of firms committing financial statement fraud, as identified in the literature, and research related to the fraud triangle. We then discuss research related to the procedures and abilities of auditors to detect fraud, and how fraud risk assessments impact audit planning and testing. In addition, we discuss several "high risk" areas and other issues as identified by the PCAOB. Finally, we summarize prior findings and offer conclusions and suggestions for areas where future research is needed.

Global investors demand, regulators require, and companies disclose their sustainability performance information, and scholars have started to conduct research on sustainability performance, reporting and assurance. The goal of firm value creation can be achieved when management considers the interests of all stakeholders and integrates all five economic, governance, social, ethical, and environmental (EGSEE) dimensions of sustainability performance into managerial strategies, actions and reporting. This paper provides a synthesis of research on sustainability and presents a theoretical framework consisting of theories and standards relevant to all five EGSEE dimensions of sustainability performance and risks and their integration into corporate culture, business models and reporting in creating stakeholder value.

catastrophic events, corporate philanthropy, corporate social responsibility, ownership type,