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The Effect of Ambiguity in an Auditing Standard on Auditor Independence : Evidence from Nonaudit Fees and SOX 404 Opinions

Li, Chan - 2017

We examine the relation between nonaudit fees and SOX 404 opinions on the effectiveness of a client's internal control over financial reporting. We find a negative association between nonaudit fees and the auditor's propensity to issue an adverse SOX 404 opinion during 2004-2006 (when AS2 was...

Persistent link: https://www.econbiz.de/10012961841

Fee Competition Among Big 4 Auditors and Audit Quality

Asthana, Sharad - 2019

Both the GAO (2003, 2008) and the US Treasury (2008) have implied that the Big 4 dominated US audit market lacks competition. More recently, the PCAOB has expressed a somewhat different concern, i.e., that because audit committees may be primarily interested in negotiating a lower audit fee...

Persistent link: https://www.econbiz.de/10012893888

Spatial Competition in Local Audit Markets and the Fall-Out on Deloitte from the 2007 PCAOB Censure

Boone, Jeff P. - 2017

We examine whether Deloitte's spatial location in local audit markets affected the firm's adverse fall-out - in terms of decreased ability to retain new clients and maintain audit fees - from the 2007 PCAOB censure. We motivate our inquiry by the notion that auditor-client alignment and...

Persistent link: https://www.econbiz.de/10012968066

US-listed Foreign Companies’ Choice of a US-based vs. Home Country-based Big N Principal Auditor and the Effect on Audit Fees and Earnings Quality

Asthana, Sharad - 2016

We examine why US-listed foreign companies choose to have a US-based (rather than home country-based) Big N firm as their principal auditor for SEC reporting purposes and the effects of that choice for audit fees and earnings quality. We find that the likelihood of the Big N principal auditor...

Persistent link: https://www.econbiz.de/10013005102

The Balanced Budget and Interperiod Equity : Implications for Financial Reporting

Raman, K. K. - 2014

A critical issue in international financial management is that of "balancing the government's books" (The Economist 1994, p. 73). Since governmental commitments to maintaining or improving citizens' well-being are subject to resource constraints, the Governmental Accounting Standards Board...

Persistent link: https://www.econbiz.de/10013048073

Auditor Resignations versus Dismissals : An Examination of the Differential Effects on Market Liquidity and Trading Activity

Boone, Jeff P. - 2014

This study addresses whether an auditor change (a resignation or a dismissal) mitigates information asymmetry as measured by market liquidity or trading activity. For auditor dismissals our results show no effect on our sample firms' market liquidity or trading activity. By contrast, for auditor...

Persistent link: https://www.econbiz.de/10013048261

Market Microstructure Effects of U.S.-Canada Differences Relating to Reserve-Based Accounting Disclosures

Boone, Jeff P. - 2014

High disclosure standards are perceived to be the cornerstone of the U.S. securities markets. However. the Securities and Exchange Commission (SEC) prohibits the quantification of unproved reserves by U.S. oil and gas firms (based on the argument that it would mislead unsophisticated individual...

Persistent link: https://www.econbiz.de/10013048340

Governmental Capital Markets Research in Accounting : A Review

Ingram, Robert W. - 2014

This paper provides an introduction to and a review of governmental capital markets based research. It updates earlier studies and focuses on recent methodological developments. Prior research is classified according to the type of data used, emphasizing special topics that have received...

Persistent link: https://www.econbiz.de/10013048459

Tax Effort as an Indicator of Fiscal Stress

Benson, Earl D. - 2014

The most visible credit market measure of the fiscal health of a municipality is the credit rating. In this article we ask whether the credit rating fully incorporates the fiscal stresses faced by municipal governments. We utilize state "tax effort" as a measure of the fiscal stress faced by a...

Persistent link: https://www.econbiz.de/10013048462

Materiality in Government Auditing

Raman, K. K. - 2014

Current practice regarding materiality in government audits under generally accepted auditing standards varies widely … materiality and what percentages they apply. In a government context, the probability of client financial failure (and subsequent … provides information about materiality levels implicit in current practice and is valuable to auditors in audit planning and …

Persistent link: https://www.econbiz.de/10013048536