Kim
CAMDEN — The Accounting Research Journal has recognized Sungsoo Kim, an associate professor of accounting at the Rutgers School of Business–Camden, with the Outstanding Paper Award for his research on audit fees.

Kim’s paper, “The Effect of Enron, Andersen, and Sarbanes-Oxley on the US Market for Audit Services,” examines the effect the Enron scandal, Arthur Andersen’s demise and the Sarbanes-Oxley Act had on audit fees.

Sharad Asthana, a business professor at the University of Texas at San Antonio, and Steven Balsam, an accounting professor at the Fox School of Business at Temple University, are co-authors.

“We found audit fees and the so-called Big Four accounting firm premium increased after the collapse of Enron and Andersen,” Kim says. “The increase in audit fees was larger for bigger and riskier clients, due to the increased demand for higher audit quality. We also found former Andersen clients did not pay higher audit fee when they switched to new auditors.”

Arthur Andersen LLP surrendered its licenses to practice as certified public accountants after being found guilty of criminal charges relating to the auditing of Enron, the failed Texas-based energy corporation. The Sarbanes-Oxley Act was signed into law in 2002 as a reaction to a number of major corporate and accounting scandals.

A Cherry Hill resident, Kim won $4,500 in prize money for his research paper. He teaches Advanced Accounting for undergraduates, and Financial Statement Analysis and Problems in Financial Reporting for MBA students at the Camden Campus of Rutgers, the State University of New Jersey.

Kim received his bachelor’s degree in English from the Chung-ang University in Korea.  He earned an MBA, a master’s degree in philosophy and a doctoral degree in accounting from Bernard M. Baruch College, City University of New York.

His research regularly appears in such prominent scholarly journals as the Accounting Review, Journal of International Financial Management and Accounting, and the Journal of Economics and Business.

Media Contact: Ed Moorhouse
856-225-6759
E-mail: ejmoor@camden.rutgers.edu