Awarded $3,500 for the period 4/15/05 to 4/14/06
Source: WFU Social, Behavioral, and Economic Science Research Fund
In early 2001, the Securities and Exchange Commission (SEC) changed its disclosure rules requiring listed companies to separately report their external audit fees. This study examines the relation between these publicly reported audit fees and the financial risks faced by external auditors. Descriptive and statistical results indicate a significant positive relation between several of the financial risk variables and audit fees. More specifically, the authors find a significant positive relation between market risk (beta), client excess return risk (market model residual variance) and overvaluation risk (price-to-book ratio), and audit fees. This study’s results will help audit firms recognize the potential risks of certifying high financial risk clients and charge requisite fees for these services.
Awarded $1,800 for the period 4/1/12 to 4/30/13
Source: North Carolina Biotechnology Center (NCBC)
Patients with diseased or injured organs may be treated with transplanted organs, but a severe shortage of donor organs worsens every year as the population ages. Regenerative medicine and tissue engineering apply the principles of cell transplantation, material sciences, and bioengineering to construct biological substitutes that may restore and maintain normal function in diseased and injured tissues. Dr. Tony Atala will review recent advances in regenerative medicine and applications for patients with end-stage tissue and organ failure.
Awarded $10,000 for the period 5/1/10 to 5/31/11
To compete and to grow in the current business environment, companies invest heavily in information technology (IT). Appropriate use may increase the efficiency and effectiveness of overall operations and enhance the timeliness and transparency of financial reporting or dramatically increase the complexity of operations, boosting costs and reducing efficiency. Although prior research has identified economic benefits in IT investment, such as improved financial performance and firm value, the Information Technology Governance Institute notes that traditional financial measures may not be able to capture critical IT performance measures and encourages examination of alternatives. This study examines one potential consequence of IT – audit quality. It aims to elucidate (1) how a company’s IT use affects audit quality; and (2) whether enhancements to IT governance can mitigate negative effects.
Awarded $460,000 for the period 7/1/06 to 6/30/07
Source: Kauffman Foundation
The program seeks to build a sustainable culture of entrepreneurship at Wake Forest University. Efforts include:
A Year of the Entrepreneur will spotlight the program’s accomplishments. At that point, curriculum and resources will support any student, from first year to graduate school, in any discipline, who wants to learn about and to pursue entrepreneurship.
Awarded $2,000 for the period 9/1/02 to 9/1/03
Source: NCIIA preaward
The Calloway School is establishing a new Center for Undergraduate Entrepreneurship to promote innovative and inventive approaches to product development and marketing for science students. The center will target the many undergraduates in the natural sciences, information systems, and computer science who are also interested in learning how to start new ventures that leverage their disciplinary training. They will receive formal education in intellectual property, venture capital, inventing, and entrepreneurship as well as problem-solving and team-building. Partnered with business students trained in entrepreneurial education, they will form E-teams that will develop new ventures based on scientific inventions.