Wayne State University School of Business Administration

Santanu Mitra

Associate Professor of Accounting

smitra@wayne.edu
(313) 577-9908

Academic Degrees

  • Ph.D., Louisiana State University
  • M.B.A., University of New Hampshire
  • M.Com., University of Calcutta, India
  • B. Com., University of Calcutta, India
  • Chartered Accountant with Institute of Chartered Accountants of India  

Teaching Interests

  •  Financial Accounting
  • Intermediate Accounting
  • Financial Statement Analysis
  • Managerial Accounting
  • Cost Management

Research Interests

  • Earnings Management and Financial Reporting Quality
  • Audit Fee Economics, Auditor Independence and Auditor Switch
  • Internal Control Over Financial Reporting, its Problems and Remediation
  • Firm-Specific Disclosure Issues
  • Capital Market Evaluation of Firm-Specific Information
  • Industry-Specific Accounting Issues

Professional Experience & Certification

  • Assistant Professor, Department of Accounting Law and Taxation, School of Business, Montclair State University, New Jersey from January 2003 to August 2006
  • Associate Professor, Department of Accounting Law and Taxation, School of Business, Montclair State University, New Jersey from September 2006 to December 2006.
  • Instructor at the Dept. of Accounting, Louisiana State University, for the courses of Principles of Financial Accounting and Principles of Managerial Accounting from 1999 to 2002.
  • Examiner of Accounting for the Intermediate Course in the Board of Studies of Institute of Chartered Accountants of India from 1986 through 1994.
  • Examiner of Accounting for the Final Course in the Coaching Administration of Institute of Cost and Works Accountants of India from 1988 through 1992.

Publications & Presentations

Publications

  • "Pervasiveness, Severity and Remediation of Internal Control Material Weaknesses under SOX Section 404 and Audit Fees” Sole author, Review of Accounting and Finance (Forthcoming in Vol. 8, No. 4).
  • “The Association between Audit Fees and Reported Earnings Quality in the Pre and Post Sarbanes-Oxley Regimes” Co-authored with Donald R. Deis and Mahmud Hossain, Review of Accounting and Finance Vol. 8, Issue 3: 232-252.
  • “Incremental Role of Non-Financial Metrics in Predicting Performance and Market Valuation of the U.S. Oil and Gas Companies” Co-authored with D. Larry Crumbley, Petroleum Accounting and Financial Management Journal Vol. 27, No. 3: 73-97.
  • “Value-Relevance of Pension Transition Adjustments and OCI Components in the Adoption Year of SFAS #158” Co-authored with Mahmud Hossain, Review of Quantitative Finance and Accounting Vol. 33 (3), pp. 279-301.
  • “Pre and Post Sox Association between Audit Firm Tenure and Earnings Management Risk” Co-authored with Donald R. Deis and Mahmud Hossain, Journal of Forensic and Investigative Accounting (On-line publication; Vol. 1, Issue 1, January to June 2009) –Formerly Journal of Forensic Accounting.
  • “Perceptions of Non-Accounting Business Majors about Management Accounting Course”, co-authored with Mahmud Hossain and Cynthia Heagy, Review of Pacific Basin Financial Markets and Policies, December 2008.
  • “US Oil Companies’ Earnings Management in Response to Hurricanes Katrina and Rita”, co-authored with Donal Byard of Baruch College, CUNY and Mahmud Hossain of University of Memphis, Journal of Accounting and Public Policy Vol. 26, December 2007 pp. 733-748.
  • “Stock ownership structure and voluntary disclosure of quarterly foreign segment data of the U.S. multinational corporations.” Co-authored with Mahmud Hossain and Barry Marks. Multinational Business Review Vol. 14 (3), 2006.
  • “Ownership composition and non-audit service fees.” Co-authored with Mahmud Hossain. Journal of Business Research Vol. 60, April 2007 pp. 348-356.
  • “The empirical relationship between ownership characteristics and audit fees.” Co-authored with Donald Deis and Mahmud Hossain. Review of Quantitative Finance and Accounting Vol. 28 (3) April 2007, pp. 257-285.
  • “Non-audit service fees and auditor independence: Empirical evidence from the oil and gas industry.” Sole-author. Journal of Accounting Auditing and Finance, Winter 2007 Issue, pp. 85-107.
  • "Corporate Governance and Executive Compensation of the U.S. Multinational Oil and Gas Companies." Petroleum Accounting and Financial Management Journal, Summer 2006, Vol. 25 (2), pp.77-98.
  • “Kansas Beats the Indians: State Motor Fuel Tax OK’D.” Co-authored with Larry Crumbley of Louisiana State University. Oil Gas and Energy Quarterly, September 2006, pp. 81-85.
  • “Restoring credibility of proved oil and gas reserve reporting practices after the SHELL restatements” Co-authored with Larry Crumbley of Louisiana State University. Oil Gas and Energy Quarterly, June 2006, pp.713-726.
  • “Institutional stock ownership, accrual management and information environment.” Co-authored with W.M. Cready. Journal of Accounting Auditing and Finance; Vol. 20 (3), Summer 2005, pp. 257-286.
  • “Institutional investors, managerial ownership and accrual management.” Sole-author. Journal of Forensic Accounting; Vol. VI (1), 2005, pp. 77-101.
  • “The relationship between financial distress and restatement of financial statements.” Co-authored with Nashwa George. Journal of Accounting Ethics and Public Policy 2004; Vol. 4 (4), pp. 259-272.
  • "Accrual management pattern of electric utility firms in deregulated environment." Sole-author. Journal of Accounting Ethics and Public Policy 2004; Vol. 4 (3), pp. 209-234.
  • “Firm characteristics and voluntary disclosure of geographic segment data by U.S. multinational companies.” Co-authored with Mahmud Hossain of University of Houston. International Journal of Accounting Auditing and Performance Evaluation 2004; Vol. 1 (3), pp.288-303.
  •  “The effect of non-financial factors on cross-sectional difference in audit and non-audit fee levels of oil and gas firms.” Co-authored with Larry Crumbley of Louisiana State University.  Petroleum Accounting and Financial Management Journal Vol. 23 (2) Summer 2004, pp.1-12.
  • “Shell-Shocked: Restatement of Oil Reserves by the Petroleum Giant.” Co-authored with D. Larry Crumbley and Mahmud Hossain. Oil Gas and Energy Quarterly Sept. 2004, pp. 11-22.
  •  “Change in overburden removal costs treatment requires IRS approval.” Co-authored with Larry Crumbley of Louisiana State University. Oil Gas and Energy Quarterly June 2004, pp.751-758.
  • “Earnings management and politically sensitive environment: Another test of corporate response to political costs.” Co-authored with Larry Crumbley of Louisiana State University. Petroleum Accounting and Financial Management Journal (Fall/Winter2003 issue) Vol. 22, No. 3, pp. 1-24.
  • “The tax court bumps fifth circuit: Metro loses accumulated earnings reductions.” Co-authored with Larry Crumbley of Louisiana State University. Oil Gas and Energy Quarterly December 2003, pp. 329-336.
  •  “Stopping fraud in the oil patch.” Co-authored with Larry Crumbley of Louisiana State University. Oil Gas and Energy Quarterly, September 2003, pp.19-34.
  •  “10K annual report and market pricing of environmental segment information for chemical firms.” Co-authored with Donald R. Deis, Louisiana State University and Mahmud Hossain, Baruch College, CUNY. Accounting Enquiries, Fall/Winter 2001/2002, Vol.1, No.1, pp.1-42.
  • “The provision for non-audit services and the low-balling of audit fees for firms in the oil and gas industry.” Co-authored with Donald R. Deis, Larry Crumbley and Kinney Reynolds of Louisiana State University. Petroleum Accounting and Financial Management Journal, Vol. 21, No. 3, Fall 2002, pp. 87-109.
  • “Discretionary accounting accruals: A methodological issue in earnings management research.” Co-authored with Jason Rodrigue of Louisiana State University. Journal of Forensic Accounting, Vol. III, No. 2, 2002, pp.185-206.
  • “Environmental disclosure requirement and corporate response: A primer." Sole-author. Oil Gas and Energy Quarterly, December 2000, pp: 451-471.
  • “The changing scenario of stranded investments in the restructured electric utility industry.” Sole-author. Oil Gas and Energy Quarterly, December 2001, pp: 391-408.

Published Monographs

  • February 2008, “Institutional Stock Ownership, Accrual Management and Information Environment” Co-authored with William Cready of University of Texas at Dallas, published in the book entitled, Corporate Governance and Financial Reporting (Volume I – III); Publisher: SAGE Publication [ISBN# 9781847870025].
  • January 2008, “Internal Control Deficiencies, Firm Characteristics and External Auditors”, Co-authored with Nashwa George of Montclair State University, published in the book entitled, Emerging Theories for Educators and Practitioners, Editors: Mackenzie and Rosenberg,Publisher: Cambridge Scholars Publishing [ISBN# 9781847183675 and 1-84718-367-0].

Presentations

  • Presentation: Pervasiveness and Remediation of Internal Control Material Weaknesses Reported under SOX Section 404 and Audit Fees” American Accounting Association National Conference 2009 at New York City .
  • Discussant: “Internal Control Quality and Analyst Forecast Behavior: Evidence from SOX Section 404 Disclosures” American Accounting Association National Conference 2009 at New York City.
  • Presentation: “Quality Difference in Reported Earnings between Andersen and Non-Andersen Big 5 Client Companies: A Time-Series Comparative Analysis” co-authored with Mahmud Hossain, American Accounting Association Midwest Regional Meeting 2009 at St. Louis, MO.
  • Presentation: “Value-Relevance of Pension Transition Adjustments and Other Comprehensive Income Components in the Adoption Year of SFAS No. 158” co-authored with Mahmud Hossain, American Accounting Association Annual Conference 2008 at Anaheim, CA.
  • Presentation: “Stock option backdating Practices and earnings management” co-authored with Mahmud Hossain, Zabihollah Razaee and Bharat Sharat, American Accounting Association Annual Conference 2008 at Anaheim, CA.
  • Discussant: “Industry Specialization, Audit-Firm Scale Economies and Audit Pricing”, American Accounting Association Annual Conference 2008 at Anaheim, CA.
  • Proceeding: “Incremental Information Content of Option Related Excess Tax Benefit under FASB Statement No. 123R: Initial Evidence” co-authored with Mahmud Hossain and Zabihollah Razaee of University of Memphis, American Accounting Association 2008 Ohio Regional Conference at Dayton, OH.
  • Proceeding: “The Association between Audit Fees and Reported Earnings Quality in the Pre and Post Sarbanes-Oxley Regime”, co-authored with Donald Deis of Texas (A&M) University and Mahmud Hossian of University of Memphis, American Accounting Association 2008 Auditing Midyear Conference held at Austin, TX.
  • Discussant: “Internal Governance, external governance and internal control remediations”, American Accounting Association 2008 Auditing Midyear Conference held at Austin, TX.
  • Proceeding: “Earnings Management by US Oil Companies in Response to High Political Costs in the Post Hurricanes Katrina and Rita Period”, co-authored with Donal Byard of Baruch College and Mahmud Hossain of University of Memphis, American Accounting Association 2007 Annual Conference at Chicago.
  • Proceeding:“Pre and Post SOX Associations between Audit Firm Tenure and Earnings Management Risk” co-authored with Donald Deis of Texas A&M University at Corpus Christi, American Accounting Association 2007 Annual Conference at Chicago.
  • Discussant: “Was Arthur Andersen Less than Its Peers? A Comparative Analysis of Audit Quality.” 2007 American Accounting Association National Conference at Chicago.
  • Proceeding: An Analysis of Revenue Redistribution and Audit Fee Growth for the Large CPA Firms in the period surrounding the Enactment of Sarbanes-Oxley Act”, Co-authored with Donald R. Deis (Texas A&M University-Corpus Christi), American Accounting Association 2007 Southeast Regional Conference at Atlanta.
  • Proceeding: “An Analysis of Revenue Redistribution and Audit Fee Growth for the Large CPA Firms in the Pre versus Post Sarbanes-Oxley Regime.” 2006 Annual Conference of International Academy of Business and Economics at Las Vegas.
  • Proceeding: “Internal control deficiencies, firm characteristics and external auditors.” 33rd Annual Conference of North East Business and Economics Association in October 2006 at Long Island, NY.
  • Presentation in “Effective learning strategies forum III” 2006 American Accounting Association National Conference at Washington D.C.
  • Moderator: Session on “Role of financial and non-financial information.” 2006 American Accounting Association National Conference at Washington D.C.
  • Proceeding: “Association between Audit Firm-Client Relationship and Probability of Financial Statement Fraud.” AAA Mid-Atlantic Region Annual Meeting 2006 held at Pittsburgh.
  • Discussant: “Sarbanes-Oxley Act and the Redistribution of Revenues among the Big 4 CPA firms.” AAA Mid-Atlantic Region Annual Meeting 2006 held at Pittsburgh.
  • Proceeding: “Ownership composition and nonaudit service fees.” AAA Midyear Auditing Conference 2006 held at Los Angeles.
  • Proceeding: “The empirical relationship between ownership composition and audit fees.” 2005 American Accounting Association National Conference at San Francisco.
  • Discussant: Concurrent session on “Auditing research on peer-reviews and management fraud” 2005 American Accounting Association National Conference at San Francisco.
  • Proceeding: “The effect of ownership structure on audit fees.” 2005 Mid-year Auditing Section Conference of American Accounting Association held in January 2005 at New Orleans.
  • Discussant: Concurrent session on “Litigation risk and audit fees” 2005 Mid-year Auditing Section Conference of American Accounting Association at New Orleans.
  • Proceeding: “Ownership composition and nonaudit service fees.” 32nd Annual Conference of North-East Business and Economics Association in October 2005 at Newport, Rhode Island.
  • Proceeding: “The relationship between financial distress and restatement of financial statements.” 31st Annual Conference of North-East Business and Economics Association held at New York City.
  • Proceeding: “Net present value: An effective long term project evaluation technique.” 2005 Annual Conference of International Academy of Business and Economics at Las Vegas.
  • Proceeding: “The collapse of Enron: What can the accounting and auditing standard setters, auditors and investors learn from this.” 2002 Critical Perspective on Accounting Conference held at New York City.

Other Scholastic Activities

Review of Journal Submissions and Conference Papers

  • Ad-hoc reviewer for the journal: Advances in Accounting
  • Ad-hoc reviewer for the journal: Forensic and Investigative Accounting
  • Ad-hoc reviewer for the journal: Journal of Public Budgeting Accounting and Financial Management.
  • Ad-hoc reviewer for the journal: Journal of Accounting and Public Policy.
  • Ad-hoc Reviewer for the journal: Review of Quantitative Finance and Accounting.
  • Reviewer of manuscripts for the AAA 2010 Mid-year Auditing Conference at San Diego, CA
  • Reviewer of manuscripts for the AAA 2009 National Annual Conference at New York City
  • Reviewer of manuscripts for the AAA 2009 Midwest Regional Meeting at Saint Louis, MO
  • Reviewer of manuscripts for the AAA 2009 Mid-year Auditing Conference at St. Petersburg, FL
  • Reviewer of manuscripts for the AAA 2008 National Conference at Anaheim, California.
  • Reviewer of manuscripts for the AAA Mid-year Auditing Conference 2008 at Austin, TX.
  • Reviewer of manuscripts for the AAA 2007 National Conference at Chicago.
  • Chapter review of Intermediate Accounting book for the publisher Pearson Prentice Hall.
  • Reviewer of manuscripts for the AAA 2006 National Conference at Washington D.C.
  • Reviewer of manuscripts for the 2006 AAA Mid-Atlantic Regional Conference at Pittsburgh.
  • Reviewer of manuscripts for the Special Issue on Extraction Industry of International Journal of Accounting Auditing and Performance Evaluation.
  • Reviewer of manuscripts for the AAA Midyear 2006 Auditing Section Conference.
  • Reviewer of manuscripts for the AAA Midyear 2005 Auditing Section Conference.
  • Reviewer of manuscripts for the AAA 2005 National Conference.
  • Reviewer for Fifth Symposium on Ethics in Accounting organized by American Accounting Association.
  • Book review for the journal, ‘Issues in Accounting Education’ (Published in May 2007 issue).
  • Book review for the journal, ‘Issues in Accounting Education’ (Published in February 2005 issue).
  • Book review for the journal, ‘Issues in Accounting Education’ –forthcoming in August 2008 issue.
  • Book Review Editor of the Journal of Forensic Accounting.
  • The edited book reviews published in the December 2003, June 2004, December 2004 and June 2005 issues of the journal.
  •  Member of Editorial Advisory Board of the journal: “Oil Gas and Energy Quarterly”.
  •  Editorial Board Member of “Journal of Public Budgeting Accounting and Financial Management”.

Professional Memberships

  • American Accounting Association
  • American Institute of Certified Public Accountants