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最新文章

• The Use and Characteristics of Foreign Component Auditors in US Multinational Audits: Insights from FormAPDisclosures AI翻译
  作者：Burke, Jenna J.; Hoitash, Rani; Hoitash, Udi
  作者单位：University of Colorado System; University of Colorado Denver; Bentley University; Northeastern University
  摘要：This paper investigates the common, yet previously opaque, practice of using foreign audit firms (component auditors) to conduct portions of audit work for U.S. public companies. U.S. regulators have expressed concern for the transparency and quality of audits using component auditors. Employing data disclosed in the newly mandated PCAOB Form AP, we find that component auditor use is largely structural, determined by the size and complexity of clients' multinational operations. We do not find ...
• The Forewarning Effect of Critical Audit Matter Disclosures Involving Measurement Uncertainty AI翻译
  作者：Kachelmeier, Steven J.; Rimkus, Dan; Schmidt, Jaime J.; Valentine, Kristen
  作者单位：University of Texas System; University of Texas Austin; University System of Georgia; University of Georgia
  摘要：We present experimental evidence suggesting that critical audit matter (CAM) disclosures in the auditor's report involving areas of high measurement uncertainty forewarn users of misstatement risk. Specifically, in our first study with MBA students, financial analysts, and attorneys, we find that CAMs (i) lower premisstatement assessments of confidence in the financial statement area disclosed as a CAM, and (ii) lower assessments of auditor responsibility for a subsequently revealed misstateme...
• Does Accounting Conservatism Discipline Qualitative Disclosure? Evidence From Tone Management in the MD&A AI翻译
  作者：D'Augusta, Carlo; DeAngelis, Matthew D.
  作者单位：Middle Tennessee State University; University System of Georgia; Georgia State University
  摘要：We investigate whether accounting conservatism, which has been found to be effective in constraining management opportunism in other settings, constrains upward tone management (UTM) in the Management's Discussion and Analysis (MD&A) portion of the 10-K filing. We hypothesize that conservatism makes it harder for managers to opportunistically downplay bad news and magnify good news when discussing current performance. Consistent with this hypothesis, we find that UTM is negatively associated w...
• Bank Monitoring and Financial Reporting Quality: The Case of Accounts Receivable-Based Loans AI翻译
  作者：Frankel, Richard; Kim, Bong H.; Ma, Tao; Martin, Xiumin
  作者单位：Washington University (WUSTL); Seoul National University (SNU); Texas Tech University System; Texas Tech University
  摘要：Using novel receivable-based loan data, we study the effect of aging-report loan covenants on borrowers' accounts receivable reporting quality. Our purpose is to highlight a channel that lenders use to obtain private information and to understand whether lenders' information acquisition affects the financial reporting quality of borrowers. Compared to receivable-based borrowers without aging-report requirements (control firms), borrowers with such requirements (test firms) increase their recei...
• Endogeneity and the Dynamics of Voluntary Disclosure Quality: Is there Really an Effect on the Cost of Equity Capital? AI翻译
  作者：Eugster, Florian
  作者单位：Stockholm School of Economics
  摘要：Research on the effects of voluntary disclosure quality on the cost of equity capital is often plagued by endogeneity concerns. In this paper, I use a dynamic panel system GMM estimator, which provides internal instruments from the firm's history that directly address endogeneity arising from unobserved heterogeneity and simultaneity. By using hand-collected voluntary disclosure scores for firms listed in the Swiss stock exchange, I examine the dynamic relation between voluntary disclosure qua...
• Debt Covenant Restriction, Financial Misreporting, and Auditor Monitoring AI翻译
  作者：Pittman, Jeffrey; Zhao, Yuping
  作者单位：Memorial University Newfoundland; Virginia Polytechnic Institute & State University; University of Houston System; University of Houston
  摘要：Theory suggests that financial report-based debt covenants engender incentives for the manager to relax covenant constraints through accounting choices in order to avoid costly covenant violations. Prior studies directly testing this hypothesis in the context of financial misreporting fail to find consistent evidence. Using a more refined measure of debt covenant restriction, we find that debt covenant restriction is positively associated with the probability of financial statement misstatemen...