The Effects of Firm Guidance on Auditors' Evaluations of Fair Value Estimates

We gratefully acknowledge the helpful comments on earlier versions of this paper that were provided by Tracie M. Majors, reviewers, and participants at the 2014 AAA Audit Midyear Meeting, as well as workshop participants at the University of South Florida, Wake Forest University, East Carolina University, and The University of North Carolina Wilmington. Additionally, we thank the auditors who gave their time to complete the survey, their firms, and Danielle Dannahower, Steven Kanczewski, and Richard Mautz for their research assistance. Special thanks go to Garren Wood for developing the research study's website. This research benefitted from research grants provided by the University of South Florida's College of Business Administration and Wake Forest University's School of Business.

Jeffrey R. Cohen, Boston College, Carroll School of Management, Department of Accounting, Chestnut Hill, MA, USA; Lisa Milici Gaynor, University of South Florida, Muma College of Business, Lynn Pippenger School of Accountancy, Tampa, FL, USA; Norma R. Montague, Wake Forest University, School of Business, Winston-Salem, NC, USA; Carolina Alves de Lima Salge, University of Georgia, Terry College of Business, Department of Management Information Systems, Athens, GA, USA; Julie H. Wayne, Wake Forest University, School of Business, Winston-Salem, NC, USA.

Editor's note: Accepted by Douglas F. Prawitt, under the Senior Editorship of Christopher P. Agoglia.