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The Effect Of Non Audit Services On Investor Judgments About Auditor Independence Auditor Knowledge Audit Quality And Investment
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Book Synopsis The Effect of Non-audit Services on Investor Judgments about Auditor Independence, Auditor Knowledge, Audit Quality and Investment by : Linda Jeanne Flaming
Download or read book The Effect of Non-audit Services on Investor Judgments about Auditor Independence, Auditor Knowledge, Audit Quality and Investment written by Linda Jeanne Flaming and published by . This book was released on 2002 with total page 176 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis The Effects of Joint Provision and Disclosure of Non-Audit Services on Audit Committee Members' Decisions and Investors' Preferences by : Lisa Milici Gaynor
Download or read book The Effects of Joint Provision and Disclosure of Non-Audit Services on Audit Committee Members' Decisions and Investors' Preferences written by Lisa Milici Gaynor and published by . This book was released on 2006 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: Recent corporate governance reforms that require audit committees to pre-approve audit and non-audit services increase audit committees' accountability to third parties for actual auditor independence and audit quality. Other SEC reforms mandate the disclosure of fees for auditor-provided services and are aimed at influencing investors' perceptions of auditor independence. These fee disclosures also reveal audit committees' pre-approval decisions, enhancing public accountability. Thus, audit committees may be less willing to hire auditors for non-audit services to avoid fee disclosures even when joint provision improves audit quality. One hundred experienced corporate directors, responding as audit committee members or investors, participated in an experiment in which we manipulated the effect of the auditor's provision of non-audit services on audit quality and the fee disclosure requirement. We find that audit committee members are more likely to recommend joint provision if audit quality improves, consistent with investors' preferences. However, unlike investors, committee members are more reluctant to recommend joint provision when public disclosures are required, even at the expense of audit quality. These findings offer evidence about an indirect effect of recent reforms.
Book Synopsis The Relation Between Auditors' Fees for Non-Audit Services and Earnings Quality (Classic Reprint) by : Richard M. Frankel
Download or read book The Relation Between Auditors' Fees for Non-Audit Services and Earnings Quality (Classic Reprint) written by Richard M. Frankel and published by Forgotten Books. This book was released on 2018-03-03 with total page 94 pages. Available in PDF, EPUB and Kindle. Book excerpt: Excerpt from The Relation Between Auditors' Fees for Non-Audit Services and Earnings Quality This paper provides empirical evidence on the relation between non-audit services and earnings quality. We test hypotheses concerning: (1) the association between a firm's purchase of non-audit services from its auditor and earnings management, and (2) the stock price reaction to the disclosure of non-audit fees. In the past decade there has been a dramatic increase in the proportion of fee revenue auditors derive from non-audit services, yet we know little about how non-audit services are related to earnings quality.1 Concern about the effect of non-audit services on the financial reporting process was a primary motivation for the Securities and Exchange Commission (sec) to issue revised auditor independence rules on November 15, 2000. The rules require firms to disclose the amount of all audit and non-audit fees paid to its auditor. About the Publisher Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.
Book Synopsis The Impact of Disclosing Auditor Independence and Tenure on Non-professional Investor Judgment and Decision-making by : Lonnie Tyler Williams
Download or read book The Impact of Disclosing Auditor Independence and Tenure on Non-professional Investor Judgment and Decision-making written by Lonnie Tyler Williams and published by . This book was released on 2016 with total page 115 pages. Available in PDF, EPUB and Kindle. Book excerpt: This study experimentally investigates how disclosing both the auditor’s obligation to remain independent of its client and auditor tenure in the audit report influence non-professional investors’ judgments and decision-making, especially the decision about whether to invest in a particular auditee. In the Auditor’s Reporting Model (ARM) proposal, the Public Company Accounting Oversight Board (PCAOB) asserts that inclusion of additional information in the audit report will improve the informativeness of the audit report for investors and as a result will modify its relevance to investment decisions. Using an experiment, I find that these disclosures positively influence non-professional investor judgments of auditor attributes – specifically auditor independence and auditor competence. Further, I note that the disclosures augment judgments of auditor credibility and audit quality as well as the report’s perceived informativeness. I also find that the disclosure of long tenure has a significant positive effect on consequent investment decisions. The findings of this study are important to informing regulators on how reform to the audit report increases report readers’ sensitivity to the perceptions of the financial statement auditor, which ultimately influences non-professional investor decision-making.
Book Synopsis The Relation Between Auditors' Fees for Non-audit Services and Earnings Quality by : Richard M. Frankel
Download or read book The Relation Between Auditors' Fees for Non-audit Services and Earnings Quality written by Richard M. Frankel and published by . This book was released on 2002 with total page 44 pages. Available in PDF, EPUB and Kindle. Book excerpt: We examine the association between the provision of non-audit services and earnings quality. Because of concerns regarding the effect of non-audit services on financial reporting credibility, the Securities and Exchange Commission recently issued revised auditor independence rules requiring firms to disclose in their annual proxy statement the amount of fees paid to auditors for audit and non-audit services. Using data collected from proxy statements filed between February 5, 2001 and June 15, 2001, we present evidence that firms purchasing more non-audit services from their auditor are more likely to just meet or beat analysts' forecasts and to report larger absolute discretionary accruals. However, the purchase of non-audit services is not associated with meeting other earnings benchmarks. We also find that the unexpected component of the non-audit to total fee ratio is negatively associated with stock returns on the filing date. These results are consistent with arguments that the provision of non-audit services strengthens an auditor's economic bond with the client and that investors price this effect. Keywords: Auditor independence; Auditor fees; Earnings management; Discretionary accruals. JEL Classification: G12, M41, M43, M49, L84.
Book Synopsis The Relation Between Auditors' Fees for Non-audit Services and Earnings Quality by : Frankel Richard M
Download or read book The Relation Between Auditors' Fees for Non-audit Services and Earnings Quality written by Frankel Richard M and published by Legare Street Press. This book was released on 2023-07-18 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This groundbreaking study explores the relationship between auditors' fees for non-audit services and the quality of earnings reported by companies. Using data from a large sample of publicly traded firms, the authors show that there is a strong correlation between the two variables, and suggest that this could be a cause for concern for investors and regulators. The authors also provide recommendations for improving the transparency and reliability of financial reporting. This book is essential reading for anyone interested in the intersection of accounting, auditing, and corporate governance. This work has been selected by scholars as being culturally important, and is part of the knowledge base of civilization as we know it. This work is in the "public domain in the United States of America, and possibly other nations. Within the United States, you may freely copy and distribute this work, as no entity (individual or corporate) has a copyright on the body of the work. Scholars believe, and we concur, that this work is important enough to be preserved, reproduced, and made generally available to the public. We appreciate your support of the preservation process, and thank you for being an important part of keeping this knowledge alive and relevant.
Book Synopsis An Analysis of the Impact of Non-audit Services on Financial Reporting Quality by : Denise Dickins
Download or read book An Analysis of the Impact of Non-audit Services on Financial Reporting Quality written by Denise Dickins and published by . This book was released on 2006 with total page 158 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Non-Audit Service Fees and Audit Quality by : Chee Yeow Lim
Download or read book Non-Audit Service Fees and Audit Quality written by Chee Yeow Lim and published by . This book was released on 2013 with total page 59 pages. Available in PDF, EPUB and Kindle. Book excerpt: Recent studies on whether the provision of non-audit services impairs audit quality document mixed results, depending on the proxy for auditor quality used. We posit that the effect of non-audit fees on audit quality is conditional on auditor industry specialization in that audit quality is less likely to be impaired in the case of industry specialist auditors providing non-audit services. Our premise is that industry specialist auditors are more likely to be concerned about reputation losses and litigation exposure, and to benefit from knowledge spillovers from the provision of non-audit services. We find some evidence that audit quality (as measured by increased propensity to issue going-concern opinion, increased propensity to miss analysts' forecasts, as well as higher earnings-response coefficients) is less likely to be reduced for firms that acquire non-audit services from industry specialist auditors compared to non-specialist auditors. Implications are discussed.
Author :United States Government Accountability Office Publisher :Lulu.com ISBN 13 :0359536395 Total Pages :234 pages Book Rating :4.3/5 (595 download)
Book Synopsis Government Auditing Standards - 2018 Revision by : United States Government Accountability Office
Download or read book Government Auditing Standards - 2018 Revision written by United States Government Accountability Office and published by Lulu.com. This book was released on 2019-03-24 with total page 234 pages. Available in PDF, EPUB and Kindle. Book excerpt: Audits provide essential accountability and transparency over government programs. Given the current challenges facing governments and their programs, the oversight provided through auditing is more critical than ever. Government auditing provides the objective analysis and information needed to make the decisions necessary to help create a better future. The professional standards presented in this 2018 revision of Government Auditing Standards (known as the Yellow Book) provide a framework for performing high-quality audit work with competence, integrity, objectivity, and independence to provide accountability and to help improve government operations and services. These standards, commonly referred to as generally accepted government auditing standards (GAGAS), provide the foundation for government auditors to lead by example in the areas of independence, transparency, accountability, and quality through the audit process. This revision contains major changes from, and supersedes, the 2011 revision.
Book Synopsis Statutory Auditors’ Independence in Protecting Stakeholders’ Interest by : Mitrendu Narayan Roy
Download or read book Statutory Auditors’ Independence in Protecting Stakeholders’ Interest written by Mitrendu Narayan Roy and published by Springer. This book was released on 2018-07-20 with total page 538 pages. Available in PDF, EPUB and Kindle. Book excerpt: Corporate failures and accounting scandals have shaken the foundations of investors’ confidence in the transparency, integrity and accountability of corporations and financial markets. There have also been public disquiet about the role of professional auditors and audit firms, who had been associated with these corporate scandals. Written from a global perspective, the book assists in understanding the gravity of independent attitude of statutory auditors in protecting stakeholders’ interest and examines the effectiveness of the existing standards and other legal and regulatory requirements in enforcing statutory auditors’ independent engagement. It then suggests modifications in those regulations. The study has been made through seven chapters in order to address empirically statutory auditors’ independence in protecting stakeholders’ interest. Primary audiences of the book are researchers in finance and control, students, and professionals in the field of accounting and auditing.
Book Synopsis Non-audit Services, Incentives, and Audit Quality by : Lucas Mahieux
Download or read book Non-audit Services, Incentives, and Audit Quality written by Lucas Mahieux and published by . This book was released on 2019 with total page 48 pages. Available in PDF, EPUB and Kindle. Book excerpt: I develop a framework that provides new insights into the consequences of the provision of non-audit services (NAS) by audit firms to audit clients. The investors of a client firm may optimally let the auditor provide NAS because of an incentive effect. Indeed, the possibility of providing NAS contingent on detecting financial misstatements increases the auditor's incentives to exert audit effort. However, the provision of NAS also reduces auditor independence, which may decrease audit quality and in turn render the provision of NAS by auditors undesirable. Thus, my analysis uncovers an interesting tradeoff for regulators between the positive incentive effect and the decrease in auditor independence. Removing the current restriction on contingent audit fees may offset the ex post decrease in audit quality while preserving the ex ante incentives. My analysis also generates a number of testable empirical predictions.
Book Synopsis How Does Joint Provision of Audit and Non-audit Services Affect Audit Quality and Independence? by : David Gwilliam
Download or read book How Does Joint Provision of Audit and Non-audit Services Affect Audit Quality and Independence? written by David Gwilliam and published by . This book was released on 2014 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Does the Provision of Non-Audit Services Affect Investor Perceptions of Auditor Independence? by : Jayanthi Krishnan
Download or read book Does the Provision of Non-Audit Services Affect Investor Perceptions of Auditor Independence? written by Jayanthi Krishnan and published by . This book was released on 2014 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: A number of recent studies examine whether the joint provision of audit and non-audit services (NAS) impairs auditor independence, and yield mixed results. We examine whether investors perceive auditor independence as being impaired when auditors supply non-audit services, by investigating the association between fee-based measures of non-audit service purchases and the earnings response coefficient (ERC). We find that the non-audit fee-ratio and the level of non-audit fees were negatively associated with ERCs in 2001. When we use unexpected fees (a measure of over- or under-payment of nonaudit fees), we find a negative association between NAS purchases and ERC, but this occurs mainly in the second and third quarters following the release of the proxy. Further investigation reveals that the quarterly differences may be driven by the increasing flow of information (i.e., the first-time disclosures of fees and media analyses of these disclosures) that became available to investors during our sample period. We speculate that, during the course of the year 2001, the increase in information allowed investors to engage in better comparative analyses of the fee disclosures. We interpret our results as indicating that investors did perceive NAS as impairing auditor independence.
Book Synopsis Auditor Independence by : Olga Tsobkalo
Download or read book Auditor Independence written by Olga Tsobkalo and published by . This book was released on 2011 with total page 126 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Restricting Non-Audit Services in Europe - The Potential (Lack Of) Impact of a Blacklist and a Fee Cap On Auditor Independence and Audit Quality by : Nicole V.S. Ratzinger-Sakel
Download or read book Restricting Non-Audit Services in Europe - The Potential (Lack Of) Impact of a Blacklist and a Fee Cap On Auditor Independence and Audit Quality written by Nicole V.S. Ratzinger-Sakel and published by . This book was released on 2015 with total page 37 pages. Available in PDF, EPUB and Kindle. Book excerpt: The European audit reform aims to stabilize financial markets by enhancing trust in the statutory audit. To strengthen auditor independence and to increase audit quality the provision of non-audit services to audit clients is further restricted. The supranational introduction of a blacklist, including prohibited non-audit services, and of a cap on the volume of non-audit fees is a novelty on the European level. The purpose of this paper is threefold. First, we analyze these measures in light of both current national restrictions of non-audit services and auditor fee disclosure requirements in France, Germany and the United Kingdom. Second, we assess the potential impact of the cap on the volume of non-audit services by providing descriptive evidence on current fee levels in these three countries. Third, we critically assess the impact of the audit reform regarding non-audit services in light of audit research by analyzing the state-of-the-art. On this basis, we doubt whether the European reform of auditor-provided non-audit services is effective and efficient. The main goal of enhancing perceived auditor independence and, thus, public trust in audited financial statements of public-interest entities may be hardly achieved and the blacklist might present a tradeoff between auditor independence and audit quality.
Download or read book Federal Register written by and published by . This book was released on 2013-09 with total page 244 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Dissertation Abstracts International by :
Download or read book Dissertation Abstracts International written by and published by . This book was released on 2008 with total page 732 pages. Available in PDF, EPUB and Kindle. Book excerpt:
