Auditing the Derivative Usage of Bank-Holding Companies

IF 2.2 4区管理学 Q2 BUSINESS, FINANCE

Accounting Horizons Pub Date : 2022-10-12 DOI:10.2308/horizons-2020-197

Stephanie Hairston, Joseph Johnston, Joseph H. Zhang

引用次数: 0

Abstract

Auditing financial derivatives is complex and contentious. Our study examines the impact of derivative use on the risk premium charged by auditors of bank holding companies (BHCs). We find that audit fees are higher regardless of whether derivative instruments are used for hedging and trading. This implies that auditors charge BHCs that use derivatives a risk premium to compensate for additional risk related to these instruments. We also find that trading derivatives tend to have a higher risk premium than hedging derivatives. Our results suggest that auditors price risks related to derivatives and trading derivatives are perceived to be higher risk relative to hedging derivatives.

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银行控股公司衍生工具使用审计

对金融衍生品的审计既复杂又有争议。我们的研究考察了衍生品使用对银行控股公司(BHCs)审计师收取的风险溢价的影响。我们发现，无论是否使用衍生工具进行套期保值和交易，审计费用都较高。这意味着审计师向使用衍生品的bhc收取风险溢价，以补偿与这些工具相关的额外风险。我们还发现，交易衍生品往往比对冲衍生品具有更高的风险溢价。我们的研究结果表明，审计师认为与衍生品和交易衍生品相关的价格风险比对冲衍生品的风险更高。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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来源期刊

Accounting Horizons BUSINESS, FINANCE-

CiteScore

3.80

自引率

4.00%

发文量

期刊介绍： Accounting Horizons is one of three association-wide journals published by the American Accounting Association AAA. This journal seeks to bridge academic and professional audiences with articles that focus on accounting, broadly defined, and that provide insights pertinent to the accounting profession. The contents of Accounting Horizons, therefore, should interest researchers, educators, practitioners, regulators, and students of accounting.