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审计收费信息强制披露与审计环境的改善——来自中国审计市场的证据 总被引:1,自引:0,他引:1
2001年开始实施的审计收费信息强制披露规定,是改善了我国审计环境还是恶化了审计环境?本文采用三种相互补充的研究设计具体考察2001年开始实施的审计收费信息强制披露政策对我国审计环境的影响,结果发现强制披露规定颁布日国内会计师事务所主审的上市公司的累计异常回报高于中外合作会计师事务所主审的上市公司,进一步研究发现,在审计收费信息首次披露后年度(2002-2003),国内会计师事务所的审计收费与中外合作会计师事务所的审计收费的差异显著缩小、审计质量显著提高。而且上述发现在国内小会计师事务所表现更为明显。这基本上支持审计环境改善的假说。 相似文献
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本文运用我国上市公司数据,研究了审计投入的产出效应问题。研究发现,审计投入与审计质量和审计收费都存在正相关关系,表明审计投入的增加能够提高审计质量,也能够带来审计费用的提高。进一步研究发现,审计投入对审计质量的影响程度在不同会计师事务所之间不存在显著的差异,但审计投入增加所带来的审计收费的提升效应,在国际"四大"和国内"十大"会计师事务所比在国内小所更明显。同时,审计投入的产出效应在不同股权性质及不同规模的公司中也存在差异。本文首次为审计投入与产出的关系问题提供直接的证据,同时也表明已有文献将审计费用作为审计投入的替代变量可能不是一个合适的方法(Gong等,2016)。本文的研究结论对于审计市场效率提升具有重要的启示作用。 相似文献
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审计质量传染效应,是指在会计师事务所开展审计工作时,如果某次审计工作的质量非常低,就会使整个会计师事物所的审计工作质量偏低.会计师事务所的主要业务,是对外部企业的财务工作和经营状况进行审计.所以,要重视对事务所内部的管理,以提高审计质量.本文对会计师事务所审计质量传染效应的研究设计进行分析,并对研究结论进行探讨. 相似文献
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Independent, competent boards of directors and audit committees are said to be important mechanisms of corporate governance. The purpose of the present study is to empirically examine the association between audit committee composition and audit quality. Specifically, the link between the proportion of non‐executive directors on an audit committee, financial qualifications of directors and the number of audit committee meetings held in a year are investigated and expected to have a positive association with the quality of the audit firm used. Audit quality is proxied by industry specialization. The results support the link between a higher proportion of non‐executive directors on an audit committee and use of an industry specialist audit firm. Other measures of audit committee quality (those with a higher proportion of directors with financial qualifications and those that meet more frequently) are not significantly associated with the use of an industry specialist audit firm. Sensitivity analysis shows that the presence of an audit committee is linked to use of an industry specialist audit firm. 相似文献
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This study examines whether audit committee effectiveness affects bank risk-taking and risk management effectiveness. We find that banks with long board tenure audit committees have lower total risk and idiosyncratic risk, and banks with busy directors on their audit committees have higher total risk and idiosyncratic risk. These suggest that high audit committee effectiveness may constrain bank risk-taking activities. We also find that firm performance is more positively associated with bank risk for banks with long board tenure, more female audit committee members, or large size audit committees than for other banks, consistent with the notion that audit committee effectiveness may increase risk management effectiveness. However, this finding should be interpreted cautiously as it is contrary to the results on audit committee busyness. 相似文献
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An independent audit committee is an audit committee on which all members are independent directors. This study examines whether independent audit committee members’ board tenure affects audit fees. On the basis of the prior literature, we formulate an unsigned hypothesis. This is because on the one hand, long board tenure audit committee members (defined as members with board tenure of 10 or more years) have greater incentives to protect their reputational capitals by purchasing increased audit effort, which positively affects audit fees. On the other hand, audit pricing reflects audit committee quality. Long board tenure audit committee members may have less need for increased audit effort because they can effectively oversee the financial reporting process themselves, which negatively affects audit fees. We find that audit fees are negatively associated with the proportion of long board tenure directors on the independent audit committee, consistent with the notion that audit committee members’ long board tenure results in lower audit effort. 相似文献
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P. W. WOLNIZER 《Abacus》1995,31(1):45-66
The common expectation of committees established in the wake of the corporate debacles during 1980s in the English-speaking world is that the audit committee device will raise the standards of corporate accountability and governance by improving the quality of financial reporting. That expectation is based on the prevalent belief that by strengthening the independence of auditors and non-executive directors audit committee members will monitor the financial reporting process in an independent manner. Unless accounting practices are reformed so that financial statements can be authenticated by recourse to reliable commercial evidence, audit committees are red herrings. Such reforms are essential if audit committee members are to keep under vigilant appraisal matters pertaining to the financial governance of, and reporting by, firms: the raison d'être of their appointment. 相似文献
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《Journal of Accounting and Public Policy》2023,42(3):107059
Using unique data on audit hours from China, this paper investigates the effort-saving effect of the audit committee–auditor interlocking (AClk). We find that AClk is negatively associated with audit effort without any deterioration in audit quality. The results suggest that AClk has an effort-saving effect through information sharing between interlocked audit committee members and auditors. However, auditors retain the effort-saving benefits of AClk without sharing them with their client firms. Further analysis shows that the effort-saving effect of AClk is more pronounced for client firms whose auditors have industry expertise, for client firms that share the same individual auditor, or for client firms that share audit committee members with financial expertise. 相似文献
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The authors' study of audit committees in 450 large East Asian companies (150 each in Hong Kong, Singapore, and Malaysia) finds a strong positive correlation between the “cash flow” ownership (as opposed to just the voting rights) of large shareholders and the percentage of independent audit committee members. The study also reports a strong positive correlation between the “cash flow” ownership of large shareholders and the percentage of audit committee members with financial expertise and experience. This finding is consistent with the hypothesis that larger cash flow ownership provides large shareholders with strong incentives for more effective governance. Conversely, the lower percentages of independent or professional audit directors at companies with large disparities between cash ownership and voting rights is consistent with the authors' hypothesis that entrenched large shareholders prefer inferior governance structures that pose fewer obstacles to their tendency to exploit the wealth of minority shareholders. Furthermore, the authors find higher valuations (market‐to‐book ratios) for companies with audit committees that consist entirely of independent directors and have larger percentage of members with financial expertise. And when viewed as a whole, the authors' findings provide support for the argument that ownership structure affects the composition of audit committees, and that independent and professional audit committees can help increase firm value. 相似文献
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Overlapping Membership on Audit and Compensation Committees and Financial Reporting Quality 下载免费PDF全文
This paper examines whether the audit committee members of a board improve financial reporting quality if they are also on their organisation's compensation committee. Audit committees are responsible for overseeing the financial reporting process of organisations and have been urged to broaden their understanding of business risk and of the incentives provided by their firms’ executive compensation structures. Acknowledging the interrelationships among executive compensation, risk‐taking and financial reporting quality, members of audit and compensation committees have been advocating more information sharing between the two committees. Using archival data from a sample of Australian Stock Exchange listed companies, and discretionary accruals as a proxy for financial reporting quality, this study finds that firms with overlapping committees have better quality financial reporting than those without such an overlap. Our evidence for this is stronger in cases where managers tend to manage earnings upwards in order to meet or beat earnings benchmarks. We also find that the beneficial effect of the existence of overlapping committees is adversely affected by the equity holdings of directors with overlapping memberships. 相似文献
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This study focuses on the composition of boards of directors and their monitoring committees (audit and compensation) for large Australian companies. For firms whose boards use a committee structure, much of the monitoring responsibility of the board is expected to rest with the independent committee members. We document a positive association between the proportion of independent directors on the full board and its monitoring committees, and a greater proportion of independent directors on both audit and compensation committees than the full board. Our hypotheses tests involve an examination of the impact of other mechanisms used to control agency conflicts on full board and committee independence, and the association between this independence and firm value. We find that full board independence is associated with low management ownership and an absence of substantial shareholders. Audit committee independence is associated with reduced monitoring by debtholders when leverage is low. While we predict a positive relationship between board and monitoring committee independence and firm value, our results do not support this conjecture. 相似文献
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F. DeZoort 《Abacus》1997,33(2):208-227
Audit committee performance has come under close scrutiny in recent years from a variety of policy-makers, interest groups and researchers. In particular, the adequacy of audit committee oversight has been challenged. At the same time, audit committees are under pressure to increase the scope of their oversight work. This study examines audit committee oversight from the internal perspective of active U.S. audit committee members. A two-part survey used Wolnizer's (1995) list of seventeen prescribed audit committee objectives related to accounting and reporting, auditors and auditing, and corporate governance in general as a basis to assess audit committee members' abilities to recognize their assigned objectives and explore their perceptions of the key tasks and issues currently addressed by audit committees. The results indicate that audit committee members appreciate the importance of all audit committee members having sufficient expertise in oversight areas related to accounting, auditing and the law. However, some respondents agreed they lacked sufficient expertise in many or all of these areas. In addition, the findings indicate that audit committee members tend not to recognize their assigned responsibilities, but agree with the proposed expansion of committee responsibilities. Using a multimethod approach, internal control evaluation was consistently listed and ranked as the most important oversight responsibility. These findings provide insight into the priority perceived by audit committee members as to their oversight responsibilities, and the adequacy of U.S. reporting disclosures as signals of audit committee work. 相似文献
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Using an Australian sample of 494 firm‐year observations, this study finds that accounting financial expertise is the primary type of expertise that influences earnings conservatism, rather than nonaccounting financial expertise. The association between accounting financial expertise and conservatism holds only when the accounting financial expert(s) on audit committees is (are) independent. Overall, results suggest that audit committee accounting financial expertise is important in recognising the asymmetrical timeliness of losses. Findings provide a better understanding of the dynamics between audit committee financial expertise and earnings conservatism and demonstrate the importance of accounting financial expertise in improving financial reporting quality. 相似文献