IMPACT OF REGULATORY INTERVENTIONS AND TRANSITIONS ON BROKER-DEALER AUDIT QUALITY
By
Darlene A. Adkins
The purpose of this study is to examine the audit quality of public U.S. broker-dealer (BD) entities after the passage of the Dodd-Frank Wall Street and Consumer Protection Act of 2010 (Dodd-Frank Act). Specifically, this study investigates whether there are associations between BD regulatory efforts to protect capital market investors and auditor decision-making during BD audit engagements that occurred between fiscal years 2011 and 2018. The Public Company Accounting Oversight Board (PCAOB) BD audit inspection reports and the enforcement actions lodged against entities provide support for legislators’ and regulators’ concern over BD audit quality following the 2008 financial crisis. This study examines whether BD auditors respond to publicly traded BD audit client oversight by assessing whether there is an association between BD audit quality and both regulatory enforcement actions and increased state-level regulatory presence. In addition, I assess whether audit quality improved following the transfer of BD audit standard-setting responsibility from the accounting industry to the PCAOB.
","abstract_html":"<h1>ABSTRACT</h1> <p>IMPACT OF REGULATORY INTERVENTIONS AND TRANSITIONS ON BROKER-DEALER AUDIT QUALITY</p> <p>By</p> <p>Darlene A. Adkins</p> <p> The purpose of this study is to examine the audit quality of public U.S. broker-dealer (BD) entities after the passage of the Dodd-Frank Wall Street and Consumer Protection Act of 2010 (Dodd-Frank Act). Specifically, this study investigates whether there are associations between BD regulatory efforts to protect capital market investors and auditor decision-making during BD audit engagements that occurred between fiscal years 2011 and 2018. The Public Company Accounting Oversight Board (PCAOB) BD audit inspection reports and the enforcement actions lodged against entities provide support for legislators’ and regulators’ concern over BD audit quality following the 2008 financial crisis. This study examines whether BD auditors respond to publicly traded BD audit client oversight by assessing whether there is an association between BD audit quality and both regulatory enforcement actions and increased state-level regulatory presence. In addition, I assess whether audit quality improved following the transfer of BD audit standard-setting responsibility from the accounting industry to the PCAOB. </p>","abstract_has_math":false,"creators":["Adkins, Darlene"],"institution":null,"degree_name":"Accounting","degree_level":"Dissertation","degree_discipline":"Business Administration","degree_department":null,"school":null,"contributors":["Dr. John L. Abernathy","Dr. Dennis Chambers"],"advisors":[],"committee_chairs":[],"committee_members":[],"year":2021,"date_issued":"2021-04-30T07:00:00Z","date_published":"2021-04-30T07:00:00Z","updated_at":"2026-07-24T02:43:42Z","subjects":["audit quality","broker-dealer industry","disclosure events","state registrations","regulatory intervention","regulatory oversight","regulatory transitions","Accounting","Business"],"languages":[],"rights":[],"rights_urls":[],"identifier_entries":[]},"links":{"outbound_url":"https://digitalcommons.kennesaw.edu/phdba_etd/16","outbound_label":"Repository record","outbound_source":"dc:identifier"},"metadata_groups":[{"id":"people","label":"People","entries":[{"key":"dc:contributor","label":"Contributor","values":["Dr. John L. Abernathy","Dr. Dennis Chambers"]},{"key":"dc:creator","label":"Author","values":["Adkins, Darlene"]}]},{"id":"academic_context","label":"Academic Context","entries":[{"key":"dc:date.available","label":"Dc Date Available","values":["2026-04-29T07:00:00Z"]},{"key":"thesis:degree_discipline","label":"Discipline","values":["Business Administration"]},{"key":"thesis:degree_level","label":"Degree Level","values":["Dissertation"]},{"key":"thesis:degree_name","label":"Degree Name","values":["Accounting"]}]},{"id":"subjects_keywords","label":"Subjects and Keywords","entries":[{"key":"dc:subject","label":"Dc Subject","values":["audit quality","broker-dealer industry","disclosure events","state registrations","regulatory intervention","regulatory oversight","regulatory transitions","Accounting","Business"]}]},{"id":"identifiers","label":"Identifiers","entries":[{"key":"dc:identifier","label":"Identifier","values":["https://digitalcommons.kennesaw.edu/phdba_etd/16"]}]},{"id":"additional","label":"Additional Metadata","entries":[{"key":"dc:description.abstract","label":"Abstract","values":["IMPACT OF REGULATORY INTERVENTIONS AND TRANSITIONS ON BROKER-DEALER AUDIT QUALITY
By
Darlene A. Adkins
The purpose of this study is to examine the audit quality of public U.S. broker-dealer (BD) entities after the passage of the Dodd-Frank Wall Street and Consumer Protection Act of 2010 (Dodd-Frank Act). Specifically, this study investigates whether there are associations between BD regulatory efforts to protect capital market investors and auditor decision-making during BD audit engagements that occurred between fiscal years 2011 and 2018. The Public Company Accounting Oversight Board (PCAOB) BD audit inspection reports and the enforcement actions lodged against entities provide support for legislators’ and regulators’ concern over BD audit quality following the 2008 financial crisis. This study examines whether BD auditors respond to publicly traded BD audit client oversight by assessing whether there is an association between BD audit quality and both regulatory enforcement actions and increased state-level regulatory presence. In addition, I assess whether audit quality improved following the transfer of BD audit standard-setting responsibility from the accounting industry to the PCAOB.
"]},{"key":"dc:title","label":"Title","values":["Impact of Regulatory Interventions and Transitions on Broker-Dealer Audit Quality"]}]}],"canonical_facts":{"dc:contributor":["Dr. John L. Abernathy","Dr. Dennis Chambers"],"dc:creator":["Adkins, Darlene"],"dc:date.available":["2026-04-29T07:00:00Z"],"dc:description.abstract":["IMPACT OF REGULATORY INTERVENTIONS AND TRANSITIONS ON BROKER-DEALER AUDIT QUALITY
By
Darlene A. Adkins
The purpose of this study is to examine the audit quality of public U.S. broker-dealer (BD) entities after the passage of the Dodd-Frank Wall Street and Consumer Protection Act of 2010 (Dodd-Frank Act). Specifically, this study investigates whether there are associations between BD regulatory efforts to protect capital market investors and auditor decision-making during BD audit engagements that occurred between fiscal years 2011 and 2018. The Public Company Accounting Oversight Board (PCAOB) BD audit inspection reports and the enforcement actions lodged against entities provide support for legislators’ and regulators’ concern over BD audit quality following the 2008 financial crisis. This study examines whether BD auditors respond to publicly traded BD audit client oversight by assessing whether there is an association between BD audit quality and both regulatory enforcement actions and increased state-level regulatory presence. In addition, I assess whether audit quality improved following the transfer of BD audit standard-setting responsibility from the accounting industry to the PCAOB.
"],"dc:identifier":["https://digitalcommons.kennesaw.edu/phdba_etd/16"],"dc:subject":["audit quality","broker-dealer industry","disclosure events","state registrations","regulatory intervention","regulatory oversight","regulatory transitions","Accounting","Business"],"dc:title":["Impact of Regulatory Interventions and Transitions on Broker-Dealer Audit Quality"],"thesis:degree_discipline":["Business Administration"],"thesis:degree_level":["Dissertation"],"thesis:degree_name":["Accounting"]},"updated_at":"2026-07-24T02:43:42Z"}