document: Eliminating recency with self-review : the case of auditors ' ` going concern ' judgments This paper examines the use of self-review to debias recency . Recency is found in the ` going concern ' judgments of staff auditors , but is successfully eliminated by the auditor 's use of a simple self-review technique that would be extremely easy to implement in audit practice . Auditors who self-review are also less inclined to make audit report choices that are inconsistent with their going concern judgments . These results are important because the judgments of staff auditors often determine the type and extent of documentation in audit workpapers and serve as preliminary inputs for senior auditors ' judgments and choices . If staff auditors ' judgments are affected by recency , the impact of this bias may be impounded in the ultimate judgments and choices of senior auditors . Since biased judgments can expose auditors to significant costs involving extended audit procedures , legal liability and diminished reputation , simple debiasing techniques that reduce this exposure are valuable . The paper also explores some future research needs and other important issues concerning judgment debiasing in applied professional settings
doc_bio_tags: O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O B I O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O B I I O O O O O O O O O O O O O O O O O B I O O O O O O O B O B I O O O O O O B I O O O O O O B I O O O O O O O O O O O O O O O O O O O O O O B I O O O O O O O O O O O B I I O B I O B I O O O O O O O O O O O O O O O O O O O O O O O O B I O B I I
extractive_keyphrases: staff auditors audit report choices documentation audit workpapers senior auditors extended audit procedures legal liability diminished reputation judgment debiasing applied professional settings
abstractive_keyphrases: auditor going concern judgments recency debiasing self-review accountability probability judgments