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Auditor Assignments and Audit Quality 审核员分配和审计质量
IF 3.4 3区 管理学
Australian Accounting Review Pub Date : 2023-04-12 DOI: 10.1111/auar.12400
Yongliang Wu, Zihui Li, Min Zhang, Shengbao Zhai
{"title":"Auditor Assignments and Audit Quality","authors":"Yongliang Wu,&nbsp;Zihui Li,&nbsp;Min Zhang,&nbsp;Shengbao Zhai","doi":"10.1111/auar.12400","DOIUrl":"10.1111/auar.12400","url":null,"abstract":"<p>Given the important role of individual auditors in the audit process, appropriate staffing is an essential issue in audit firms. Using unique audit data for both listed and private companies in China, we define the downward mismatch between auditors and clients as an inappropriate assignment of the engagement auditors who are supposed to serve only private companies, but sign the audit reports of public companies. We find that the downward mismatch leads to poor audit quality. The results are robust to various tests, including using alternative proxies, adopting the Propensity Score Matching (PSM) procedure, and controlling for auditor–client fixed effects and audit firm-level mismatch. Additional analyses reveal that the negative effect of downward mismatch on audit quality is less pronounced for audit firms with more education and training expenditures, with more informatisation expenditures, and with more partners available. Moreover, this negative effect is more pronounced when clients’ business is more complex. Our findings shed light on the importance of staffing assignment decisions within the audit firm.</p>","PeriodicalId":51552,"journal":{"name":"Australian Accounting Review","volume":"33 2","pages":"160-187"},"PeriodicalIF":3.4,"publicationDate":"2023-04-12","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"41871962","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 1
Shareholders’ Perception of Auditor Type and Timing of Auditor Engagement: Evidence from Auditor Ratification 股东对审计师类型和聘请时间的认知——来自审计师批准的证据
IF 3.4 3区 管理学
Australian Accounting Review Pub Date : 2023-03-07 DOI: 10.1111/auar.12398
Jennifer K. Howard, Myungsoo Son, Hakjoon Song
{"title":"Shareholders’ Perception of Auditor Type and Timing of Auditor Engagement: Evidence from Auditor Ratification","authors":"Jennifer K. Howard,&nbsp;Myungsoo Son,&nbsp;Hakjoon Song","doi":"10.1111/auar.12398","DOIUrl":"10.1111/auar.12398","url":null,"abstract":"<p>Many companies present their selected auditor to shareholders for ratification. In this study, we use auditor ratification voting results to examine whether shareholders view the type of auditor and the timing of the engagement as indicative of audit quality. The auditor ratification literature has yet to explicitly examine these research questions. Our study is unique in that we focus on the auditor switch setting and test how shareholders view a newly hired auditor. We find that shareholders are less likely to approve a non-Big N auditor than a Big N auditor. We also document that shareholders view late auditor engagements (i.e., during or after the fourth quarter) more negatively, consistent with the argument that late appointment of new auditors should be viewed with caution. The timing effect is particularly acute for non-Big N firms; however, shareholders do not seem to mind late engagements of Big N auditors.</p>","PeriodicalId":51552,"journal":{"name":"Australian Accounting Review","volume":"33 3","pages":"284-301"},"PeriodicalIF":3.4,"publicationDate":"2023-03-07","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://onlinelibrary.wiley.com/doi/epdf/10.1111/auar.12398","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"41497338","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 1
The Real Effects of Analyst Research Quality: Evidence from the Adoption of the Broker Protocol 分析师研究质量的真实影响:来自经纪商协议采用的证据
IF 3.4 3区 管理学
Australian Accounting Review Pub Date : 2023-03-06 DOI: 10.1111/auar.12397
Petya Platikanova
{"title":"The Real Effects of Analyst Research Quality: Evidence from the Adoption of the Broker Protocol","authors":"Petya Platikanova","doi":"10.1111/auar.12397","DOIUrl":"10.1111/auar.12397","url":null,"abstract":"<p>I provide empirical evidence that labour market frictions have an adverse effect on the quality of analyst research. Using the staggered, voluntary adoption of the Protocol for Broker Recruiting (Protocol) since 2004, I show that, without non-compete agreements, financial analysts produce more accurate forecasts and exert greater efforts in updating their research more frequently. Consistent with the notion that information asymmetry in the capital market are lower in the post-Protocol period, I provide empirical evidence and argue that the research coverage by Protocol members enables managers to access capital and extend their investment opportunities. My findings suggest that analyst coverage by Protocol members has a favourable effect on investment in innovative projects, production capacity and acquisitions.</p>","PeriodicalId":51552,"journal":{"name":"Australian Accounting Review","volume":"33 3","pages":"237-261"},"PeriodicalIF":3.4,"publicationDate":"2023-03-06","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://onlinelibrary.wiley.com/doi/epdf/10.1111/auar.12397","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"46270478","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 1
The Informative Value of Key Audit Matters in the Audit Report: Understanding the Impact of the Audit Firm and KAM Type 审计报告中关键审计事项的信息价值:了解审计事务所和KAM类型的影响
IF 3.4 3区 管理学
Australian Accounting Review Pub Date : 2023-02-22 DOI: 10.1111/auar.12396
Nicolás Gambetta, Laura Sierra-García, María Antonia García-Benau, Josefina Novejarque-Civera
{"title":"The Informative Value of Key Audit Matters in the Audit Report: Understanding the Impact of the Audit Firm and KAM Type","authors":"Nicolás Gambetta,&nbsp;Laura Sierra-García,&nbsp;María Antonia García-Benau,&nbsp;Josefina Novejarque-Civera","doi":"10.1111/auar.12396","DOIUrl":"10.1111/auar.12396","url":null,"abstract":"<p><i>This paper examines whether the readability (and hence informative value) of key audit matters (KAM) varies according to the audit firm and the KAM type disclosed, a question of vital importance for stakeholders, whose effective decision-making depends on the quality of information received. Our analysis shows that the informative value of KAM matter and KAM audit procedures varies according to the audit firm responsible. This informative value also depends on whether the KAM is related to entity- or accounting-level risks. This study contributes to the KAM and audit quality literature by showing how these factors impact on the informative value of the expanded audit report. Furthermore, in the context of the agency, institutional and self-presentation theories and the real effects hypothesis, we discuss auditors’ incentives to increase or decrease the informative value of the expanded audit report</i>.</p>","PeriodicalId":51552,"journal":{"name":"Australian Accounting Review","volume":"33 2","pages":"114-134"},"PeriodicalIF":3.4,"publicationDate":"2023-02-22","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"46491270","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 2
Bayesian Investor Belief Updating Speed and Market Underreaction to Earnings Announcements 贝叶斯投资者信念更新速度与市场对收益公告的反应不足
IF 3.4 3区 管理学
Australian Accounting Review Pub Date : 2023-02-21 DOI: 10.1111/auar.12395
Yan Han, Xin Cui, Gloria Y. Tian, Peipei Wang
{"title":"Bayesian Investor Belief Updating Speed and Market Underreaction to Earnings Announcements","authors":"Yan Han,&nbsp;Xin Cui,&nbsp;Gloria Y. Tian,&nbsp;Peipei Wang","doi":"10.1111/auar.12395","DOIUrl":"10.1111/auar.12395","url":null,"abstract":"<p>Building on the Bayesian Theorem, we propose a multi-period market microstructure model to understand how Bayesian investors underact new information and the duration of market underreaction. Applying the model to post-earnings-announcement drifts, our simulation and regression analyses show that the duration of the post-announcement price adjustment process and the post-announcement drifts can be explained by the new measure of belief updating speed that quantifies the uncertainties faced by Bayesian investors when incorporating new information into prices. Our study highlights the importance of incorporating the belief uncertainties of uninformed investors in explaining market underreaction in the Bayesian framework.</p>","PeriodicalId":51552,"journal":{"name":"Australian Accounting Review","volume":"33 1","pages":"66-85"},"PeriodicalIF":3.4,"publicationDate":"2023-02-21","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://onlinelibrary.wiley.com/doi/epdf/10.1111/auar.12395","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"43815245","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 1
Accounting for Intangible Assets: Thinking It Through 无形资产会计:全面思考
IF 3.4 3区 管理学
Australian Accounting Review Pub Date : 2023-01-05 DOI: 10.1111/auar.12394
Stephen Penman
{"title":"Accounting for Intangible Assets: Thinking It Through","authors":"Stephen Penman","doi":"10.1111/auar.12394","DOIUrl":"10.1111/auar.12394","url":null,"abstract":"<p>With the modern corporation investing more in intangible assets, the issue of appropriate accounting for these assets is very much at the fore and formally on the agendas of accounting standards boards. Some commentators advocate that internally generated intangible assets should be booked to the balance sheet, just like tangible assets. This paper explains that this apparently straightforward solution is not so simple. There are subtleties that, when recognised, indicate that such accounting would often make both balance sheets and income statements less informative. In response, the paper outlines an accounting for intangible assets that preserves, indeed enhances, the information conveyed by both the balance sheet and the income statement and satisfies the financial reporting objective of providing information to investors about ‘the amount, timing, and uncertainty of future cash flows’.</p>","PeriodicalId":51552,"journal":{"name":"Australian Accounting Review","volume":"33 1","pages":"5-13"},"PeriodicalIF":3.4,"publicationDate":"2023-01-05","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"45911816","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 4
Moderating Role of Cost Accounting Information Quality on the Relationship Between the COVID-19 Pandemic and Budgeting in Public Hospitals 成本会计信息质量对新冠肺炎疫情与公立医院预算关系的调节作用
IF 3.4 3区 管理学
Australian Accounting Review Pub Date : 2022-12-07 DOI: 10.1111/auar.12393
Odysseas Pavlatos, Hara Kostakis
{"title":"Moderating Role of Cost Accounting Information Quality on the Relationship Between the COVID-19 Pandemic and Budgeting in Public Hospitals","authors":"Odysseas Pavlatos,&nbsp;Hara Kostakis","doi":"10.1111/auar.12393","DOIUrl":"10.1111/auar.12393","url":null,"abstract":"<p>Based on new public management, information processing theory and contingency theory, this study investigates the impact of the COVID-19 pandemic on budgeting in public hospitals, focusing on budget use. The research hypotheses were tested using a survey of 82 responses from hospital CFOs. The results show that the organisations that were most affected by the pandemic increased their use of budgets for planning, resource allocation and control, compared to those that were less affected. This study also highlights the moderating role of cost accounting information quality in the relationship between crises and budget use. We find that public hospitals that have been most affected by the pandemic and have simultaneously better cost accounting information have increased their use of budgets for planning, resource allocation and cost control more than those whose costing system does not provide superior cost data.</p>","PeriodicalId":51552,"journal":{"name":"Australian Accounting Review","volume":"33 1","pages":"14-30"},"PeriodicalIF":3.4,"publicationDate":"2022-12-07","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://onlinelibrary.wiley.com/doi/epdf/10.1111/auar.12393","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"43858439","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 1
Auditor Materiality in Expanded Audit Reports: More (Disclosure) is Less 扩大审计报告中的审计师重要性:越多(披露)越少
IF 3.4 3区 管理学
Australian Accounting Review Pub Date : 2022-11-29 DOI: 10.1111/auar.12392
Karen-Ann M. Dwyer, Niamh M. Brennan, Collette E. Kirwan
{"title":"Auditor Materiality in Expanded Audit Reports: More (Disclosure) is Less","authors":"Karen-Ann M. Dwyer,&nbsp;Niamh M. Brennan,&nbsp;Collette E. Kirwan","doi":"10.1111/auar.12392","DOIUrl":"10.1111/auar.12392","url":null,"abstract":"<p>The United Kingdom (UK) Financial Reporting Council (FRC) introduced expanded audit reports to improve audit report disclosures and render audits more transparent to financial statement users. This study examines audit materiality threshold disclosures, providing descriptive evidence of how auditors disclose materiality information in UK audit reports. This research uses manual content analysis (i) to assess auditors’ benchmarks and the percentages auditors apply to those benchmarks. The analysis examines (ii) auditors’ use of non-GAAP benchmarks, including non-recurring and recurring item exclusions and (iii) auditors’ rationales for their benchmark choices. The research finds that auditors choose a wide variety of benchmarks and apply a wide range of percentages to the chosen benchmarks. Non-GAAP adjustments are pervasive. Auditors’ rationales for benchmark choices include that the benchmark is a financial statement performance measure, and the benchmark eliminates volatility. The authors question whether the FRC's expanded disclosures have met its transparency objectives and concludes that ‘more (disclosure) is less’.</p>","PeriodicalId":51552,"journal":{"name":"Australian Accounting Review","volume":"33 1","pages":"31-45"},"PeriodicalIF":3.4,"publicationDate":"2022-11-29","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://onlinelibrary.wiley.com/doi/epdf/10.1111/auar.12392","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"46671149","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 3
Research on Application and Impact of IFRS 9 Financial Instruments 《国际财务报告准则第9号金融工具》的应用及影响研究
IF 3.4 3区 管理学
Australian Accounting Review Pub Date : 2022-11-22 DOI: 10.1111/auar.12391
Michael Bradbury, Bryan Howieson
{"title":"Research on Application and Impact of IFRS 9 Financial Instruments","authors":"Michael Bradbury,&nbsp;Bryan Howieson","doi":"10.1111/auar.12391","DOIUrl":"https://doi.org/10.1111/auar.12391","url":null,"abstract":"","PeriodicalId":51552,"journal":{"name":"Australian Accounting Review","volume":"32 4","pages":"409-410"},"PeriodicalIF":3.4,"publicationDate":"2022-11-22","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"137967816","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Long and Short-term Investments by European Banks – Trends Since the IASB Published IFRS 9 欧洲银行的长期和短期投资-自IASB发布IFRS 9以来的趋势
IF 3.4 3区 管理学
Australian Accounting Review Pub Date : 2022-11-20 DOI: 10.1111/auar.12390
Edgar Löw, Marc Erkelenz
{"title":"Long and Short-term Investments by European Banks – Trends Since the IASB Published IFRS 9","authors":"Edgar Löw,&nbsp;Marc Erkelenz","doi":"10.1111/auar.12390","DOIUrl":"10.1111/auar.12390","url":null,"abstract":"<p>IFRS 9 was introduced by the IASB in 2014 with a mandatory application in 2018. Three years later the IASB started a post-implementation review project. Major concerns at a political level and from the (insurance) industry were raised about long-term investment strategies that appear less favourable due to new measurement categories and impairment rules. Furthermore, it was expected that the new rules on categorisation would create more profit or loss (P/L) volatility. We show that concerns about banks' decreasing maturity investment behaviour and increased profit or loss volatility since the publication of IFRS 9 in 2014 could not be verified until 2020. Additionally, banks hardly use the fair value option in practice, which suggests it can be abolished. Finally, the paper finds that the fair value through other comprehensive income option for equity instruments has almost no importance for banks. The IASB should, therefore, abolish this category as well. Hence, the measurement categories could be reduced by two categories reducing complexity and increasing the decision usefulness of financial instruments accounting rules for investors.</p>","PeriodicalId":51552,"journal":{"name":"Australian Accounting Review","volume":"32 4","pages":"440-459"},"PeriodicalIF":3.4,"publicationDate":"2022-11-20","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://onlinelibrary.wiley.com/doi/epdf/10.1111/auar.12390","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"46562391","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 2
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