Concerned about the low academic ability of public school teachers, in the 1990s and 2000s, some states increased licensing stringency to weed out low-quality candidates, while others decreased restrictions to attract high-quality candidates. We offer a theoretical model justifying both...

Concerned about the low academic ability of public school teachers, in the 1990s and 2000s, some states increased licensing stringency to weed out low-quality candidates, while others decreased restrictions to attract high-quality candidates. We offer a theoretical model justifying both...

Audits of internal control over financial reporting (ICFR) are typically “integrated” with the audit of the financial statements (FS)— both audits are conducted by the same audit firm, which designs procedures to satisfy the objectives of both audits simultaneously. A common assumption is...