Effect of audit report disclosure on auditor litigation risk

Internationally, the escalating number of cases levelled against auditors and the costs of defending such actions has led to the auditing profession calling for measures to reduce their liability burden. Relatively few measures have been taken by the auditing profession by way of adapting the disclosure contained in the audit report to mitigate their litigation risk. This study examines whether the issuance of an audit opinion with a going concern related ‘emphasis of matter’ paragraph or work practices disclosure has any effect on potential litigants' likelihood of pursuing litigation against the auditor. An analysis of 69 responses from advanced law students and 18 practitioners working in corporate liquidation demonstrate that a modified (but not qualified) audit report effectively acts as a ‘red flag’ and reduces potential litigants' propensity to initiate litigation. However, work practices disclosure did not significantly alter potential litigants' inclination to recommend litigation. Despite this finding, respondents (particularly liquidators) indicated that work practices disclosure was an important factor in their litigation decision. These results suggest that further investigation into how to effectively disclose the work done on audit and assurance engagements is needed. This has implications for standard setters and the auditing profession, especially considering recent changes in the disclosure contained in audit and assurance reports.     

国际审计报告准则的变迁及其对我国的影响

审计报告是联系审计理论与实务的桥梁。审计理论和实务的任何重大变化均会在审计报告中有所体现。国际会计师联合会(IFAC)根据审计理论与实务的最新发展于2004年12月修订了国际审计报告准则。文章回顾了国际审计报告准则的三次变迁,分析了最新国际审计报告准则在审计理论与理念的发展,并介绍其对中国的影响。     

基本公共服务体制变迁与制度创新——惠及13亿人的基本公共服务

经过30年的改革发展,我国正由生存型向发展型社会过渡,全社会公共需求快速增长同基本公共产品短缺、公共服务不到位成为阶段性突出矛盾。当前,贯彻落实党的十七大报告精神,加快制度创新,逐步建立适合我国国情的基本公共服务体制,推进基本公共服务均等化,增强政府提供基本公共服务能力,已成为我国共建共享和谐社会的重大任务。本文从新阶段基本公共服务制度的现实需求出发,结合改革开放30年中基本公共服务制度变迁的实际进程,对基本公共服务城乡、地区、不同社会群体之间的差距进行了系统的评估,并提出了新阶段基本公共服务制度创新的相关对策和建议。