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1.
Laventhol and Horwath (L&H), the then seventh largest accounting firm in the US, declared bankruptcy in November 1990. The firm claimed that its bankruptcy was due to the perception of it being a deep pocket rather than inherent deficiencies in its performance. In this study, we examine whether the audit quality of L&H was lower than other auditors. Results do not show that L&H is associated with lower quality audits either in terms of lower likelihood of issuing modified audit opinion, higher levels of discretionary accruals for its clients, or lower predictability of discretionary accruals for future non-discretionary net income for its clients than for clients of other auditors. Results of additional tests also do not suggest that auditors that take up clients of L&H report differently from L&H. This evidence does not support the proposition that L&H’s audit quality was less than audit quality of other audit firms during the period leading up to the bankruptcy.  相似文献   

2.
In this study we investigate whether and how a firm's investment activities are affected by the financial information of peer firms on merger and acquisition (M&A) efficiency. Using changes in M&A accounting performance to measure efficiency, we find a positive association between the post-M&A accounting performance of an acquiring firm and that of previous peer acquirers. We show that this spillover effect is derived from peer firms with improved rather than poorer post-M&A accounting performance. We also find that the spillover effect varies with the characteristics of both the acquiring and the peer firms. The effect is stronger when the peer firms are larger, are non-SOEs (vs. SOEs), have improved accounting performance after M&As and undertake M&As with unrelated (vs. related) entities, and when the acquiring firms are smaller, non-SOEs (vs. SOEs) and have poorer accounting performance before M&As.  相似文献   

3.
In this paper we consider attitudes of human resource managers towards the employment and employability of disabled people in United Kingdom (UK) accounting firms. Only one study [Duff, A., Ferguson, R.J., in press. Disability and accounting firms: Evidence from the UK. Critical Perspectives on Accounting] has considered the employment of disabled people in accounting firms, despite a growing number of studies considering gender, race and social class in accounting employment. This dearth of evidence is unexpected given the passing of disability rights legislation in the UK in 1995 and the United States of America in 1990. Our investigation utilizes nine semi-structured interviews with human resource managers (or their equivalent) in large and medium-sized UK accounting firms. Three participants are from the Big Four firms, which dominate the market for accounting and auditing services. Views were elicited regarding: (i) drivers of disability awareness, (ii) the role of partners, (iii) how firms view disability, (iv) impairments firms view as a problem, and (v) job applications. Participants’ responses indicate an awareness of existing legislation governing disability issues, in particular, the UK's Disability Discrimination Act, 1995. However, there is evidence that accounting firms restrict their understanding of disability to legal definitions. The study identifies specific impairments which firms see as impediments to employment and critically assesses firms’ perceptions of the employability of disabled people.  相似文献   

4.
会计稳健性与审计收费:基于审计风险控制策略的分析   总被引:2,自引:0,他引:2  
随着监管趋于更加严格,会计师事务所承担的法律责任和赔偿也越来越高。如何采取有效措施防范和控制风险,最大可能地降低损失,已经成为会计师事务所的重要议题。本文对2001至2006年我国上市公司展开研究后发现:作为一种风险控制策略,强制审计客户保持一定的会计稳健性能够降低审计风险,从而降低审计收费;但稳健性发挥作用受到法律环境和诉讼风险的影响,仅对同时发行A股和其他类型股票的企业起到了显著作用。较高审计收费的风险控制策略与强制客户保持一定稳健性的风险控制策略之间存在替代关系。  相似文献   

5.
The current requisite skills of accounting graduates guide the graduate attributes delivered by university learning outcomes. A recent trend by Australian accounting firms to outsource accounting services may impact on accounting graduates if entry‐level tasks normally completed by graduates are sent to offshore processing centres. This study examines the impact of the outsourcing of accounting services by Australian accounting firms and classifies the current requisite skills for accounting graduates identified by accounting firms. Following a review of the current academic literature, a positivist approach using empirical data is taken in this paper. The responses elicited from a survey questionnaire mailed to a random sample of Australian accounting firms provide information for the data analysis. One of the most widely outsourced services identified is the preparation of income tax returns, which has been identified as a key area where graduate accountants normally learn the basic skills required to phase them into the profession. Accounting firms that considered the outsourcing of accounting services would change the 12 ranked prerequisite skills for graduates presented in this paper in order of importance.  相似文献   

6.
We examine the impact of air pollution on a firm's accounting policy conservatism. We hypothesize that, in response to risks associated with increased air pollution, firms apply more conservative accounting practices and utilize more conservative estimates in their reporting. Using a sample of Chinese firms, accounting conservatism measures, and a satellite-based air pollution metric, we confirm the validity of our hypothesis. Additional analysis suggests that the impact of air pollution on accounting policy conservatism is more salient for firms in high-pollution industries, firms under severe financial constraint, firms with higher environmental risk, and firms that receive high media coverage. Further, we document that air pollution does not significantly affect a firm's return on assets, year-on-year sales growth, or Tobin's Q measure. Hence, it is management's risk perception, not objective performance concern, that is driving accounting conservatism. Finally, specifically investigating accounting conservatism, we discover that, for firms with higher pollution levels, selling general and administrative expenses, liabilities provision, accrued expenses, and asset impairment loss are significantly higher.  相似文献   

7.
The effect of audit firm size on prizes is a complex function of competition in the market for audit services, product differentiation, and scale economics to large firms. In this study, a competitive market is supported in Australia with product differentiation to Bif Eight accounting firms. Specially, Big Eight accounting firms have significantly higher audit prices than non-Big Eight firms. This results holds for ‘large’ and ‘small’ auditees. A test is also made of price cutting in the Australian market. Price cutting is defined as lower initial audit fees than continuing engagement fees for a comparable audit. Test results do not evidence price-cutting behavior by accounting firms. There is in fact weak evidence that initial audit fees are higher than continuing engagement fee levels. Higher initial fees suggest that accounting firms may recover at least some of the audit start-up costs immediately.  相似文献   

8.
Mergers and acquisitions (M&As) are among the most important investment activities for companies, but they contain great risks. We investigate the role of accounting conservatism in M&A target selection and risk. We find that for risk-averse reasons, firms with high accounting conservatism are likely to acquire profitable targets and avoid loss-making targets. When such firms acquire loss-making targets, the conservatism’s risk-control role reduces M&A risk and increases M&A performance, but only when control of the target is transferred and the acquirer has high long-term debt and low management power. Furthermore, accounting conservatism reduces risk by increasing the maturity match between cash flow and debt. Our results suggest that accounting conservatism plays not only a risk-averse role but also a risk-control role, providing new evidence for the usefulness of accounting conservatism in M&A decisions.  相似文献   

9.
By employing a Heckman two-stage selection model, we identify whether employing a financial expert with or without accounting expertise on the audit committee is optimal and how earnings quality varies across these optimal and suboptimal choices. Using four earnings quality measures (informativeness, timely loss recognition, earnings persistence, and accruals quality), we find no differences in earnings quality between firms optimally choosing an expert with or without accounting expertise, consistent with Demsetz and Lehn (J Polit Econ 93:1155–1177, 1985) and others who argue that when firms optimize their choice (i.e., accounting expertise), there should be no difference across the characteristic (i.e., earnings quality) being examined. We do find, however, earnings quality is significantly higher for firms that optimally choose an accounting expert relative to firms that choose (with/without accounting expertise) suboptimally. Finally, firms suboptimally choosing an accounting expert exhibit no improvement, or even lower earnings quality, than firms that optimally choose no accounting expert. Our results provide important evidence of the impact accounting expertise has on earnings quality when considering the firm’s choice.  相似文献   

10.
以我国A股具有机构持股的上市公司2007~2011年的数据为样本,采用Basu(1997)的盈余-回报率模型研究了机构持股对会计稳健性的影响。结果表明:机构持股比例越高,会计稳健性越好。考虑到产权性质后,国有公司的机构持股比例与会计稳健性具有显著的正相关关系,而在非国有公司中并不显著。另外,高成长性公司中机构持股对会计稳健性的影响显著为正,但在低成长性公司这一结果不显著。  相似文献   

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