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J. Connolly
Restitution on overvaluations may cost Prudential $50 million
C. Dreilinger (1994)
Ethics: What about thou shalt?Journal of Business Strategy, 15
K. Eichenwald
Prudential said to inflate appraisals
J. Connolly
Pru’s PRISA portfolios will get an independent review
B.K. Church
Auditors’ use of confirmatory processes
L.E. Fiedler
The problem with commercial property appraisals today
D. Horne, E. Rosenblatt (1996)
Property Appraisals and Moral Hazard
J. Goodwin, K. Trotman (1995)
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K. Eichenwald
In shift, Prudential concedes a whistle‐blower was right
Craig Emby, M. Gibbins (1987)
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Lawrence Ponemon (1992)
Ethical reasoning and selection-socialization in accountingAccounting Organizations and Society, 17
T.A. Farmer, L.E. Rittenberg, Trompeter G.M.
An investigation of the impact of economic and organizational factors on auditor independence
Steven Salterio (1996)
The effects of precedents and client position on auditors' financial accounting policy judgment☆Accounting Organizations and Society, 21
S. Fletcher, B.A. Diskin
Agency relationships in appraising for institutional asset managers
Fraser R.R., E.M. Worzala
An insight into the ideas of Professor James A. Graaskamp on practice and reform in appraisal
Documents evidence of a loss of independence in the commercial appraisal industry in the USA. Utilizes a survey methodology to elicit the reactions of commercial appraisers to controlled scenarios of client pressure. This methodology was borrowed from established behavioural research that tested independent auditors for related independence agency issues. Results indicate significant valuation effects related to the amount of business a client brings to the appraisal firm, but no significant effect related to the size of the client‐requested value adjustment, or to the interaction of the amount of client business and the size of the requested value adjustment. Suggests that changes in fee structures and institutional reforms may be necessary to resolve the loss of independence.
Journal of Property Valuation and Investment – Emerald Publishing
Published: Aug 1, 1997
Keywords: Appraisals; Auditors; Behaviour; Clients; Consumer behaviour
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