Audit opinion and earnings management: Evidence from Greece |
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| Authors: | Maria Tsipouridou Charalambos Spathis |
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| Institution: | 1. University of Exeter Business School, Streatham Court, Rennes Drive, EX4 4PU Exeter, UK;2. Aristotle University of Thessaloniki, Department of Economics, Division of Business Administration, 54124 Thessaloniki, Greece |
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| Abstract: | This study examines the relationship between audit opinions and earnings management, as measured by discretionary accruals, for listed firms on the Athens Stock Exchange (ASE). We divide the qualified audit opinions into two categories: qualified for the going-concern uncertainty and qualified for other reasons. The results indicate that audit opinions are not related to earnings management. Client financial characteristics, such as profitability and size are determinants of the going-concern audit opinion decision. The decision of auditors to issue qualified opinions for other reasons is explained by the type of audit opinion issued in the previous year. |
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| Keywords: | Audit opinion Going-concern uncertainty Discretionary accruals IFRS context Debt crisis |
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