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The Association Between Audit Quality Accounting Disclosures And Firm Specific Risk
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Book Synopsis The Association between Audit Quality, Accounting Disclosures and Firm-Specific Risk by : Philip J. Lee
Download or read book The Association between Audit Quality, Accounting Disclosures and Firm-Specific Risk written by Philip J. Lee and published by . This book was released on 2000 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt: In an environment where expected litigation costs are relatively low (Australia), we provide evidence strongly consistent with signaling considerations influencing the choice of auditor by initial public offering (IPO) firms. When our analysis is confined to smaller IPOs and/or IPOs using less prestigous underwriters (i.e., those IPOs where the use of a high quality auditor is less quot;routinequot;), we find that the probability of selecting a high quality auditor is positively related to IPO firms' riskiness, negatively related to the level of retained ownership by the initial owners and positively related to the decision to voluntarily provide information about expected earnings. these results jointly provide support for the signaling models of Datar, Feltham and Hughes (1991) and Hughes (1986), whereby the choice of a high quality auditor represents a trade-off with the level of retained ownership, but is complimentary to the extent of direct disclosure.
Download or read book Audit Quality written by Jonas Tritschler and published by Springer Science & Business Media. This book was released on 2013-10-31 with total page 251 pages. Available in PDF, EPUB and Kindle. Book excerpt: Arising from the author’s experience as a practicing CPA, this book is quite different from other research in this field, as it confronts the subject of audit quality from a pragmatic perspective. The first goal of Jonas Tritschler is to develop an audit quality metric on national audit firm level. Financial reporting errors, as detected by the German enforcement institutions during examinations, which subsequently are published in the German Federal Gazette by the involved companies, are the data basis for this measurement. Using the developed audit quality metric, the second goal of this study is to analyze audit quality differences of selected audit firms by comparing their deployed audit input factors such as employee’s competence (ratio of certified professionals to total audit staff), experience of employees (average tenure of employees in years) and client-specific experience (client fluctuation rate). Results indicate a correlation between audit quality according to the developed metric and the operationalized audit input factors mentioned above.
Book Synopsis Integrated Reporting and Audit Quality by : Chiara Demartini
Download or read book Integrated Reporting and Audit Quality written by Chiara Demartini and published by Springer. This book was released on 2017-04-13 with total page 136 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book analyzes the relationship between integrated reporting and audit quality within the European context, presenting empirical evidence and drawing on a broad review of the available literature in order to evaluate the ability of integrated reporting to enhance audit risk assessment. Dedicated sections first elucidate the concepts of integrated reporting and audit quality. The main integrated reporting frameworks are compared, the role of integrated reporting within a firm’s disclosure is examined, and all aspects of audit risk are discussed. The key question of the impacts of integrated reporting on the components of audit risk is then addressed in detail, with reference to empirical findings, their practical implications, and their limitations. The concluding section explores the future of corporate reporting and the development of the next integrated reporting framework and summarizes the insights that the analysis in the book offers into the relationship between integrated reporting and audit quality in the European setting.
Book Synopsis The Association Between Audit Quality, Retained Ownership, and Firm Specific Risk in U.S. Vs. Canadian IPO Markets by : Peter Clarkson
Download or read book The Association Between Audit Quality, Retained Ownership, and Firm Specific Risk in U.S. Vs. Canadian IPO Markets written by Peter Clarkson and published by . This book was released on 1990 with total page 23 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Essays on the Quality of Audited Financial Statements by : Ulf Mohrmann
Download or read book Essays on the Quality of Audited Financial Statements written by Ulf Mohrmann and published by Logos Verlag Berlin GmbH. This book was released on 2016-02-15 with total page 300 pages. Available in PDF, EPUB and Kindle. Book excerpt: The dissertation consists of four essays on the quality of audited financial statements. The first analysis investigates the association between several regulations of the audit market and earnings characteristics. The second essay differentiates between different drivers of audit quality after an auditor change by comparing the effects of voluntary and mandatory auditor changes. The third study analyses the different strategies of Big4 and non-Big4 auditors in dealing with Level 3 fair values. The fourth part examines banks' valuation behavior concerning Level 3 fair values.
Book Synopsis Reaching Key Financial Reporting Decisions by : Stella Fearnley
Download or read book Reaching Key Financial Reporting Decisions written by Stella Fearnley and published by John Wiley & Sons. This book was released on 2011-08-04 with total page 471 pages. Available in PDF, EPUB and Kindle. Book excerpt: The regulatory framework for financial reporting, auditing and governance has changed radically in recent years, as a result of problems identified from the Enron scandal and more recently from the drive to implement global standards. In a key regulatory change, a company audit committee is now expected to play a significant role in agreeing the contents of the financial statements and overseeing the activities of the auditors. Finance Directors, Audit Committee Chairs and Audit Engagement Partners are required to discuss and negotiate financial reporting and auditing issues, a significant process leading to the agreement of the published numbers and disclosures, and to the issuing of the auditor's report which accompanies them, but which is entirely unobservable by third parties. Reaching Key Financial Reporting Decisions: How Directors and Auditors Interact is a fascinating, behind-the-scenes examination of this closed process. The authors draw on the results of face to face interviews, and an extensive survey of finance directors, audit committee chairs and audit partners, and present nine company case studies highlighting the process of discussion and negotiation and the methods by which the agreed financial reporting outcome was reached. Detailed analysis of the case studies: Allows those involved in the process to benchmark their behaviours against those of others Enables a comparison between the previous and current regulatory environments to see what has changed, and sheds light on the sorts of behaviours the current regulatory framework encourages Evaluates the effectiveness of the changed regulatory regime, providing evidence relevant to current policy debates concerning the value of audit, IFRS and the relative merit of rules-based versus principles-based accounting standards in relation to professional judgement and compliance The unprecedented access and unique insights offered by this book make it invaluable for audit firm staff and partners, audit committee chairs and company directors involved in agreeing the published financial statements, as well as those who have an interest in the financial statements, but do not have access to the negotiation process.
Book Synopsis The Quality of Mandatory Non-Financial (Risk) Disclosures by : Saverio Bozzolan
Download or read book The Quality of Mandatory Non-Financial (Risk) Disclosures written by Saverio Bozzolan and published by . This book was released on 2019 with total page 58 pages. Available in PDF, EPUB and Kindle. Book excerpt: Risk disclosures are among the most important types of non-financial information valued by investors. Risk disclosures are mostly narrative, proprietary in nature and, consequently, the importance of their accuracy and assurance is high to prevent them becoming boiler-plate and lose their relevance. By exploiting the unique features of a setting in which risk disclosure is mandatory and under a positive assurance requirement, we investigate whether the quality of audited risk disclosures is associated with the type of audit firm (Big-4 vs. non-Big-4), the characteristics of the audit firm and the attributes of the audit partner. Our results show an association between risk disclosure quality and auditors, but not in the ways that one would have expected. After the enforcement of a regulation that requires a detailed description of risks in the Operating and Financial Review (OFR) and a positive assurance of external audit over these disclosures, we do not document any significant Big-4 effect. The quality of risk disclosures is associated with the attributes of the audit partner, namely familiarity with different client risk disclosures, expertise and gender, independently from her belonging to a Big-4 audit firm. Along this way, we extend the recent evidence on the audit partner effects in the assurance of non-financial narrative information.
Book Synopsis The Relationship Between Corporate Disclosure and Risk by : Henry Perrin Garsombke
Download or read book The Relationship Between Corporate Disclosure and Risk written by Henry Perrin Garsombke and published by . This book was released on 1976 with total page 428 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Measuring Misreporting Risk in Firms' 10-K Disclosures and the Auditor's Role in Mitigating Misstatements by : James Moon
Download or read book Measuring Misreporting Risk in Firms' 10-K Disclosures and the Auditor's Role in Mitigating Misstatements written by James Moon and published by . This book was released on 2018 with total page 62 pages. Available in PDF, EPUB and Kindle. Book excerpt: The purpose of public company audits is to increase the integrity of firms' financial statements. However, research provides mixed evidence on whether better auditors mitigate misstatement risk embedded in the financial reporting process. A challenge in previous studies is the lack of a powerful measure of inherent, “pre-audit” reporting risk. We overcome this issue by developing a novel, powerful measure of accounting misstatement risk (AMR) from 10-K text. We validate this measure by documenting economically significant associations with both audit fees and misstatements. We then empirically test whether relatively higher quality audits, measured using a variety of characteristics, attenuate the association between AMR and subsequent restatements. Contrary to our prediction, however, we find minimal evidence that better auditors mitigate the association between AMR and the likelihood of subsequent restatement. Further analysis supports the notion that AMR inhibits auditors' ability to mitigate reporting risk through increased audit fees and that AMR captures innate reporting risk rather than managerial obfuscation. Overall, we expect our results to be of interest to managers, accountants, and regulators, all of whom seek to minimize negative consequences of misreporting.
Book Synopsis Auditor Industry Specialization and Client Disclosure Quality by : Kimberly Dunn
Download or read book Auditor Industry Specialization and Client Disclosure Quality written by Kimberly Dunn and published by . This book was released on 2000 with total page 29 pages. Available in PDF, EPUB and Kindle. Book excerpt: We examine the relation between audit firm industry specialization and client disclosure quality. Our motivation for conducting this research arises from the claims made by each of the Big5 public accounting firms that industry specialization enables each to provide superior service and quality to clients in its target industries.We document a positive association between industry-specialized audit firms and analysts' rankings of disclosure quality in unregulated industries, but no relation in regulated industries. Alternative measures of auditor industry specialization support our conclusions. Our results suggest industry-specialized audit firms add value to clients in unregulated industries in the form of improved disclosure quality.
Book Synopsis Corporate Governance and Its Implications on Accounting and Finance by : Alqatan, Ahmad
Download or read book Corporate Governance and Its Implications on Accounting and Finance written by Alqatan, Ahmad and published by IGI Global. This book was released on 2020-09-25 with total page 425 pages. Available in PDF, EPUB and Kindle. Book excerpt: After the global financial crisis, the topic of corporate governance has been gaining momentum in accounting and finance literature since it may influence firm and bank management in many countries. Corporate Governance and Its Implications on Accounting and Finance provides emerging research exploring the implications of a good corporate governance system after global financial crises. Corporate governance mechanisms may include board and audit committee characteristics, ownership structure, and internal and external auditing. This book is devoted to all topics dealing with corporate governance including corporate governance characteristics, board diversity, CSR, big data governance, bitcoin governance, IT governance, and governance disclosure, and is ideally designed for executives, BODs, financial analysts, government officials, researchers, policymakers, academicians, and students.
Book Synopsis The Economics of Audit Quality by : Benito Arrunada
Download or read book The Economics of Audit Quality written by Benito Arrunada and published by Springer Science & Business Media. This book was released on 2013-11-11 with total page 203 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book focuses on market mechanisms which protect quality in the provision of audit services. The role of public regulation is thus situated in the context defmed by the presence of these safeguard mechanisms. The book aims to contribute to a better understanding of these market mechanisms, which helps in defining the con tent of rules and the function of regulatory bodies in facilitating and strengthening the protective operation of the market. An analysis at a more general level is provided in the three chapters making up Part 1. In the four chapters of Part 2, on the other hand, this analysis is applied to a particular problem to determine how those non-audit services often provided by auditors to their audit clients should be regulated. Finally, Chapter 8 contains a summary of the analysis and conclusions of the work. The conclusion with regard to non-audit services is that their provision generates beneficial effects in terms of costs, technical competence, professional judgment and competition and, moreover, need not prejudice auditor independence or the quality of these services. This as sessment leads, in the normative sphere, to recommending a legislative policy aimed at facilitating the development and use of safeguards provided by the free action of market forces. Regulation should thus aim to enable the parties-audit firms, self-regulatory bodies and audit clients-to discover through competitive market interaction both the most efficient mix of services and the corresponding quality safeguards, adjusting for the costs and benefits of each possibility.
Book Synopsis Corporate Disclosure in the Banking Industry by : David Isiavwe Ph.D.
Download or read book Corporate Disclosure in the Banking Industry written by David Isiavwe Ph.D. and published by iUniverse. This book was released on 2017-02-06 with total page 95 pages. Available in PDF, EPUB and Kindle. Book excerpt: Corporate disclosure is critical to the functioning of an efficient capital market, and all banks in Nigeria are required to hit the mark. Expanding on some of the themes he explored in his first book, Cash Management and Bank Profitability Under Conditions of Uncertainty, David Isiavwe, Ph.D., examines the disclosures that Nigerian banks make via financial statements, regulatory filings, and in other documents. His findings are based on a detailed study that assigned disclosure items a score of 1 if they were reported and a score of 0 if they were not reported. More than two hundred disclosure items were examined. He concludes that the size of banks, bank profitability, presence of international subsidiaries, and the financial expertise of board members significantly affect the disclosures made. The bigger and more profitable a bank isand the more financial background board members havethe more information Nigerian banks typically disclose to stakeholders. As a result, banks in Nigeria should grow their balance sheets and profitability for enhanced disclosure, and the government should create an enabling environment. Whether youre an investor, board member at an international bank, bank regulator, lecturer or student, youll find this book on banking a compelling read.
Book Synopsis The Routledge Companion to Accounting and Risk by : Margaret Woods
Download or read book The Routledge Companion to Accounting and Risk written by Margaret Woods and published by Routledge. This book was released on 2017-03-27 with total page 289 pages. Available in PDF, EPUB and Kindle. Book excerpt: To date, there has been little consideration of the many different ways in which accounting and risk intersect, despite organisations being more determined than ever to build resilience against potential risks. This comprehensive volume overcomes this gap by providing an overview of the field, drawing together current knowledge of risk in a wide range of different accounting contexts. Key themes such as corporate governance, trust, uncertainty and climate change are covered by a global array of contributing scholars. These contributions are divided into four areas: The broader aspects of risk and risk management Risk in financial reporting Risk in management accounting Risk monitoring The book is supported by a series of illustrative case studies which help to bring together theory and practice. With its wealth of examples and analyses, this volume provides essential reading for students, scholars and practitioners charged with understanding diverse facets of risk in the context of accounting in the business world.
Book Synopsis Research Opportunities in Internal Auditing by :
Download or read book Research Opportunities in Internal Auditing written by and published by Institute of Internal Auditors, Incorporated. This book was released on 2004-01-01 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: Includes contributions by eleven academics writing on the past, present, and future of internal auditing. Focus is on the identification of internal audit topics that could raise interest in internal audit research.
Book Synopsis Research in Accounting Regulation by : Gary Previts
Download or read book Research in Accounting Regulation written by Gary Previts and published by Elsevier. This book was released on 2004-09-17 with total page 347 pages. Available in PDF, EPUB and Kindle. Book excerpt: The scope of service provided by professional accountants is influenced by legislation and case law as well as the dictates of a variety of government and private sector agencies: including State Boards of Accountancy, Academic Accreditation Bodies, the United States Securities and Exchange Commission, the Public Company Accounting Oversight Board, independent standard setting bodies such as the Federal Accounting Standards Advisory Board (US), the Financial Accounting Standards Board (US), the International Accounting Standards Board and self-regulatory organizations such as State Societies of CPA and the American Institute of Certified Public Accountants. There are equivalent and emerging local international bodies that exist in most developed countries. It is important for academics, students, practitioners, regulators and researchers to consider, study and understand the role and relationship of such bodies with the practice and content of our discipline. Research in Accounting Regulation is a refereed annual serial that seeks to publish high quality manuscripts, which address regulatory issues and policy affecting the practice of accountancy, broadly defined. Topics of interest include research based on: 1) Self-regulatory activities. 2) Case law and litigation. 3) Governmental and quasi-governmental regulation. 4) The economics of regulation, including modelling. This research series aims to encourage the submission of original empirical, behavioural or applied research manuscripts that consider strategic and policy implications for regulation, regulatory models and markets. It is intended for individual researchers, practitioners, regulators and students of accountancy who desire to increase their understanding of the regulation of accountancy.
Book Synopsis JOURNAL OF Accounting & Economics by :
Download or read book JOURNAL OF Accounting & Economics written by and published by . This book was released on 2004 with total page 832 pages. Available in PDF, EPUB and Kindle. Book excerpt:
