Browsing by Subject "Salvedades"

Now showing 1 - 3 of 3
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    Audit firm tenure and qualified opinions: New evidence from Spain
    (2013) García Blandón, Josep; Argilés Bosch, Josep Maria
    The 2010 Green Paper on Audit Policy by the European Commission has explicitly questioned the sufficiency of audit rotation rules established by European Union Members to guarantee auditor independence. In addition, the Paper clearly states that more research is needed regarding the effects of long audit tenures on independence. In this article, we have replicated the research by Ruiz-Barbadillo, Gómez-Aguilar, and Biedma (2005) about the effects of audit firm tenure on independence with more updated data. However, unlike them, we have performed panel data estimations instead of pooled regression. Our approach allows for a better control of individual unobserved heterogeneity, thus reducing potential problems caused by omitted variable bias. While Ruiz-Barbadillo et al. reported an unexpected positive effect of tenure on the likelihood of audit qualifications, we do not show any significant effect of tenure on the opinion of the audit report. Our results are robust to various sensitivity analyses.
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    El informe de auditoría con salvedades: ¿una mayor independencia y competencia del auditor aumenta su contenido informativo?
    (2016) Martinez-Blasco, Monica; Garcia-Blandon, Josep; Vivas-Crisol, Laura
    Este trabajo analiza el contenido informativo de la presentación de informes de auditoría con salvedades en las empresas cotizadas españolas tras el número creciente de medidas acometidas para incrementar la independencia y la competencia del auditor. Estudios previos que han analizado ámbitos temporales anteriores a los del presente trabajo han mostrado que el mercado español no reacciona ante la presentación de un informe calificado, por lo que se puede decir que carecían de contenido informativo relevante. Se entiende que los cambios introducidos, de haber alcanzado su finalidad, deberían favorecer un aumento del contenido informativo de los informes calificados. Para analizar si los inversores consideran la información ofrecida por los auditores como una herramienta útil para la toma de decisiones, se ha analizado el efecto de la presentación del informe sobre el precio de la acción y el volumen de negociación, conjuntamente. Los resultados muestran un ligero incremento en el contenido informativo del informe de auditoría con salvedades en España tras las medidas adoptadas, y una utilidad indiscutible del informe para los inversores de aquellas empresas que cuentan con un capital flotante alto.
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    Risk on financial reporting in the context of the new audit report in Spain
    (Universidad de Murcia, Servicio de Publicaciones, 2021) Pérez Pérez, Yolanda; Camacho Miñano, María del Mar; Segovia-Vargas, María Jesús
    After the financial crisis and with the greater complexity of financial reporting, stakeholders asked firms for more informative audit reports to close the audit expectation gap. In this context, the International Auditing and Assurance Standards Board (IAASB) approved a new international standard on auditors reports. One of the major changes is the obligation for listed companies to describe the key audit matters (KAM) in the audit report, in particular, those related to the significant financial reporting risks. This paper empirically analyses the content of the new auditors reports after the accounting reform recently issued in Spain and the factors that condition the KAMs disclosed by auditors. Using the sample of all Spanish listed companies, our results show that these firms mostly report on two to four KAMs and the majority of these relate to revenue recognition, impairment of goodwill and deferred tax recovery in the 2017 audit reports. Applying a multinomial linear regression, the significant variables that condition the KAMs in our sample are sector, market type, and average word count. This evidence contributes to the literature by emphasizing the importance of risks in financial reporting in extended audit reports