رابطه بین کاهش هزینه حسابرسی و کیفیت درآمد و کیفیت حسابرسی
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رابطه بین کاهش هزینه حسابرسی و کیفیت درآمد و کیفیت حسابرسی

 

 

عنوان فارسی مقاله: رابطه بین کاهش هزینه حسابرسی در طول بحران مالی جهانی و کیفیت درآمد و کیفیت حسابرسی
عنوان انگلیسی مقاله: The relation between audit fee cuts during the global financial crisis and earnings quality and audit quality
مجله/کنفرانس: پیشرفت ها در حسابداری – Advances in Accounting
رشته های تحصیلی مرتبط: حسابداری
گرایش های تحصیلی مرتبط: حسابرسی
کلمات کلیدی فارسی: بحران مالی، هزینه های حسابرسی، کیفیت درآمد، تداوم فعالیت
کلمات کلیدی انگلیسی: Financial crisis, Audit fees, Earnings quality, Going concern
نوع نگارش مقاله: مقاله پژوهشی (Research Article)
نمایه: scopus – master journals
شناسه دیجیتال (DOI): https://doi.org/10.1016/j.adiac.2018.07.007
دانشگاه: University Drive – George Mason University – United States
ناشر: الزویر - Elsevier
نوع ارائه مقاله: ژورنال
نوع مقاله: ISI
سال انتشار مقاله: 2018
شاخص H_index: 20 در سال 2018
شاخص SJR: 0.277 در سال 2018
شناسه ISSN: 0882-6110
فرمت مقاله انگلیسی: PDF
تعداد صفحات مقاله انگلیسی: 18
وضعیت ترجمه: ترجمه نشده است
قیمت مقاله انگلیسی: رایگان
آیا این مقاله بیس است: بله
کد محصول: E9652
فهرست انگلیسی مطالب

Abstract


Keywords


1. Introduction


2. Related research and hypotheses development


3. Research design


4. Sample


5. Main empirical results


6. Additional measures of earnings quality and audit quality


7. Robustness tests


8. Conclusion


Acknowledgement


Appendix A. Estimation of abnormal accruals


References

نمونه متن انگلیسی مقاله

Abstract


The Global Financial Crisis (GFC) presents a unique opportunity to study how auditors respond to an exogenous shock to the clients' operating environment. Also, due to the GFC, auditors were under pressure from clients to cut audit fees during the crisis. Regulators were concerned that lower audit fees could result in lower audit effort, and more importantly, impair audit quality. We conduct a comprehensive analysis of multiple attributes of client firms' earnings quality and audit quality. Collectively, our findings indicate that there is no significant difference in earnings quality between client firms that received a fee cut during the GFC and control firms consisting of firms that did not receive a fee cut and firms that received a fee cut before the GFC. Further, there is no significant difference in the likelihood of a going concern opinion or a financial restatement, our proxies for audit quality, between client firms that received a fee cut during the GFC and control firms. Our findings contribute to understanding the role of auditors during the GFC.


1. Introduction


The Global Financial Crisis (GFC hereafter) that originated in late 2007 and the subsequent economic downturn until 2009 resulted in the deepest economic recession since the Great Depression (Kroeker, 2011; Sikka, 2009).1 Also, as a result of the GFC, audit firms were under pressure from their clients and audit committee members to share the economic pain by cutting audit fees. For example, McAfee Inc., maker of security software and a Fortune 500 company with nearly $7 billion in total assets in 2009, was able to cut its audit fee from $6.491 million in 2008 to $4.363 million in 2009, a cut of about 33% even though McAfee's total assets increased by about 7% in 2009. Whitehouse (Whitehouse, 2010a) reports that 63% of the S&P 500 firms won price concessions from their auditors during 2009. By one estimate, the total cut in audit fees for the Big 4 auditors during 2009 was more than $337 million (Professional Services (Professional Services Monitor, 2010)). Thus, the GFC and the resulting audit fee cuts led to a huge financial consequence for the Big 4 auditors. The above economic events are unprecedented and present a unique opportunity to study how auditors respond to an exogenous shock to the clients' operating environment and, more importantly, the effects of widespread and significant cuts in audit fees on clients' earnings quality and audit quality.2 While the GFC per se posed significant challenges to auditors, cuts in audit fees on top of that could exacerbate these challenges. Specifically, the objective of this study is to provide empirical evidence on the relation between audit fee cuts during the GFC period (described in detail below) and multiple proxies for earnings quality (described in sections III and VI) of client-firms. We also examine the effect of fee cuts on the likelihood of going concern opinions and restatement of financial statements, our proxies for audit quality (Defond, Raghunandan, & Subramanyam, 2002; Francis, Michas, & Yu, 2013; Lim & Tan, 2008).

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