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This study aimed to determine if the level of information included in audit reports was related to the average stock value of companies as listed in the Brazilian capital market. Of 255 companies, 44 financial entities were excluded because they operate in regulatory and competitive environments...
Persistent link: https://www.econbiz.de/10012994680
Financial restatements have significant implications for auditor-client relationships. We estimate that a restatement increases the odds of an auditor resignation dramatically. Restatements involving fraud, reversing profit to loss and those disclosed in press releases appear to drive the...
Persistent link: https://www.econbiz.de/10013109662
This paper uses firms' disclosures of internal control problems prior to audits mandated by Section 404 of the Sarbanes-Oxley Act (SOX) to investigate the economic factors that expose firms to internal control failure risks and managements' incentives to discover and report internal control...
Persistent link: https://www.econbiz.de/10014066012
Securities regulators around the world are considering the costs and benefits of alternative policies for providing information to financial markets on corporate internal control. These policy options differ on the level of auditor involvement, among other dimensions. We examine the association...
Persistent link: https://www.econbiz.de/10012755003
In this paper we examine the association of audit fees with disclosures regarding internal control effectiveness under Section 302 of the Sarbanes Oxley Act of 2002 (SOX). In contrast to previous studies, we focus on non-accelerated filers, whose eventual compliance with the costly provisions of...
Persistent link: https://www.econbiz.de/10012755296
Financial restatements have significant implications for auditor-client relationships. We estimate that a restatement increases the odds of an auditor resignation dramatically. Restatements involving fraud, reversing profit to loss and those disclosed in press releases appear to drive the...
Persistent link: https://www.econbiz.de/10012929219
Audit committee (AC) disclosures are important for stakeholders seeking to evaluate and hold ACs accountable. Despite a wave of heightened attention in the past decade, disclosure changes have tapered off in recent years and are slow to incorporate the AC’s expanding set of oversight...
Persistent link: https://www.econbiz.de/10014243389
A financial report restatement reflects errors in the previous financial statement, and thus it increases investors' doubt about the credibility of the financial statement. The primary objective of this paper is to examine whether restatement announcements imply increased fraud risks in Chinese...
Persistent link: https://www.econbiz.de/10012176099
We examine the impact of the volume and quality of environmental disclosures in corporate annual reports on the creation and sustenance of firms' reputation for environmental responsibility, and the extent to which these effects are enhanced by the quality of audit committees. Using a sample of...
Persistent link: https://www.econbiz.de/10013019537
Persistent link: https://www.econbiz.de/10015135169