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Ira Solomon - Tulane University. New Orleans, LA, US

Ira Solomon Ira Solomon

Dean of the A.B. Freeman School of Business | Tulane University

New Orleans, LA, UNITED STATES

Throughout a distinguished career, Solomon has focused his research and teaching on external auditing and attestation

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Biography

Ira Solomon became the 13th dean of the A. B. Freeman School of Business at Tulane University on July 1, 2011. A native of Roosevelt, N.Y., Solomon received his PhD in accounting from the University of Texas at Austin and taught at the University of Arizona before joining the faculty of the University of Illinois at Urbana-Champaign in 1983. Prior to his appointment at Tulane, Solomon was the R.C. Evans Endowed Chair in Business and head of the Department of Accountancy at Illinois, where he was a primary architect in creating what is widely regarded as one of the finest accountancy programs in the country.

Throughout a distinguished career, Solomon has focused his research and teaching on external auditing and attestation. He has published more than 35 scholarly articles, monographs and books, and his writings have appeared in publications including the Wall Street Journal. He has served as an associate editor and on the editorial boards of a number of prestigious scholarly journals, as a vice president of the American Accounting Association and a member of the governing council of the American Institute of Certified Public Accountants.

Solomon has been recognized for outstanding teaching, research and service numerous times. He received the AAA Outstanding Auditing Educator Award in 1997 and is the only scholar to be recognized by the AAA Auditing Section for Outstanding Dissertation Supervision on three occasions, in 1997, 2000 and 2003. In 2009, Solomon received the Distinguished Achievement in Accounting Education Award from the AICPA and the Special Award of Merit from the Illinois CPA Society. In February 2011, Solomon served as Visiting Distinguished Scholar & Lecturer at Macquarie University in Sydney, Australia.

Solomon is married to the former Susan Sharpe, and the couple has three grown children and three grandchildren. Dean and Mrs. Solomon reside in Uptown New Orleans.

Areas of Expertise (4)

Attestation

Business

Accounting

External Auditing

Education (3)

University of Texas at Austin: Ph.D., Accounting

University of Texas at Austin: B.B.A., Accounting

University of Texas at Austin: M.P.A., Accounting

Affiliations (4)

  • American Accounting Association
  • Auditing Section - American Accounting Association
  • European Accounting Association
  • Center for Audit Quality: Research Advisory Board

Media Appearances (3)

The New Orleans Entrepreneur Week Lineup Is Here

Silicon Bayou News  online

2019-02-21

“New Orleans Entrepreneur Week represents a unique opportunity for us to connect local startups with mentors and investors from across the Tulane community,” said Ira Solomon, Freeman School dean. “We are pleased and excited to serve as co-producer of this year’s event.”

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Tulane University Launches the Country’s Only MBA/Sustainable Real Estate Development Degree Program

BusinessWire  online

2019-02-05

“With the exponential growth of the real estate market, prospective real estate professionals must combine business expertise with an understanding of the social and environmental costs of development,” says Ira Solomon, dean of the Freeman School. “The MBA/MSRED program builds upon the rigorous core of the Freeman School’s nationally ranked MBA program to create a comprehensive and holistic approach to sustainable development.”

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Tulane University's business school partnering with Idea Village for Entrepreneur Week

The New Orleans Advocate  online

2019-01-08

Tulane will be contributing by investing in "frontier areas of innovation" such as data analytics and entrepreneurial hospitality, said Ira Solomon, dean of the Freeman School.

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Articles (3)

Audit Fee Residuals: Costs or Rents Review of Accounting Studies

Doogar, R., P. Sivadasan, and Ira Solomon

2015

Audit fee residuals (the error term from audit fee models) are widely used in the accounting research literature. Researchers, however, have adopted contrasting views of these fee residuals. One view is that fee residuals are a combination of noise and auditor rents (i.e., abnormal profits), while the other view is that they are a combination of noise and unobserved audit costs (including any risk premium and a normal rate of return on all factors of production). As a result, identical research findings are presently given conflicting policy interpretations. We use differences in fee residual persistence across continuing and new audit engagements to elucidate the extent to which fee residuals consist of unobserved audit costs, auditor rents, and noise elements. In a large sample of U.S. public company audit engagements, we find evidence suggesting that fee residuals largely consist of researcher-unobserved audit production costs common to all auditors. We discuss the implications of this finding for policy setters and for future auditing research.

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PCAOB’s Audit Failure Rate is Highly Suspect CFO Magazine

Peecher, M. E. and I. Solomon

2014

Investor confidence is fragile but vital to healthy markets. So, when it comes to the issue of the quality of public company audits, we are troubled to see regulators make alarming assertions that are incomplete and potentially misleading.

In a recent article, the Public Company Accounting Oversight Board’s chief auditor is quoted by the Wall Street Journal as saying, “When we look at an audit, the rate of failure has been in a range of around 35 to 40%.”

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The Joint Influence of the Extent and Nature of Audit Evidence, Materiality Thresholds, and Misstatement Type on Achieved Audit Risk Auditing: A Journal of Practice & Theory

Budescu, D., Peecher, M.E. and Ira Solomon

2012

We use simulation to investigate the joint effects of materiality, evidence extent, evidence nature, and misstatement type on achieved audit risk, i.e., the risk of undetected material financial statement misstatement due to error or fraud. Our primary results are fourfold. First, contrary to conventional audit wisdom, we show that elevating the extent of testing decreases achieved audit risk only under certain conditions and may well increase it. Second, reducing materiality (attempting to perform a more precise audit) can either enhance or jeopardize audit effectiveness. Third, learning about the quality of the internal controls over financial reporting not only can help the auditor to perform an integrated audit, but also helps the auditor to reach better judgments about the extent to which and how evidence from the auditee organization's management and/or information systems may be distorted as a result of misstatement, reducing the risk that the auditor would be misled by such evidence. Fourth, when financial statements are biased intentionally due to fraud, it is especially important for the external auditor to supplement more traditional audit tests with tests that produce evidence that is less likely to be biased by management. Auditors who do not understand these four results run a heightened risk of compromising audit effectiveness.

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