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This research aims to measure the financial and operating impact for US retailers that adopted quick response (QR). It specifically looks at the impact of QR on profitability, cost efficiency, and inventory management.

The research analyzed data from the CRSP/Compustat data base of US publicly held corporations to compare adopters of QR with non‐adopters before and after adoption.

The results indicated that adopters of QR did not benefit as expected. Adopters, on average, did not improve their performance to a statistically significant degree with respect to profitability, cost efficiency, or inventory levels.

The main limitations of the research include the fairly small number of firms studied (11 adopters and 16 non‐adopters) and the lack of evidence identifying the reasons for the adopters poor performance. Another limitation is the fact that only the manufacturers perceptions have been considered. It would be beneficial in future research to consider the opinion of retailers about their own management of these brands.

The research uses objective actual financial results before and after adoption of QR and avoids the practice of using subjective management opinions of success. The research design includes before and after analysis with a control group – the strongest design possible given the inability to randomly assign firms to the adopter and non‐adopter categories.

This paper examines the role of professional associations, governmental agencies, and international accounting and auditing bodies in promulgating standards to deter and detect fraud, domestically and abroad. Specifically, it focuses on the role played by the US Securities and Exchange Commission (SEC), the American Institute of Certified Public Accountants (AICPA), the Institute of Internal Auditors (IIA), the Institute of Management Accountants (IMA), the Association of Certified Fraud Examiners (ACFE), the US Government Accounting Office (GAO), and other national and foreign professional associations, in promulgating auditing standards and procedures to prevent fraud in financial statements and other white‐collar crimes. It also examines several fraud cases and the impact of management and employee fraud on the various business sectors such as insurance, banking, health care, and manufacturing, as well as the role of management, the boards of directors, the audit committees, auditors, and fraud examiners and their liability in the fraud prevention and investigation.