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Author: Mohammed Fida Abdul-Moatee Bahjatt
Publisher:
ISBN:
Category : Auditing
Languages : en
Pages : 388
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Book Description
Author: Mohammed Fida Abdul-Moatee Bahjatt
Publisher:
ISBN:
Category : Auditing
Languages : en
Pages : 388
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Book Description
Author: Pieris H.T.D.
Publisher:
ISBN:
Category :
Languages : en
Pages : 0
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Book Description
The audit report is the medium of communication between the auditor and the users of the audit report. Therefore, it must be understandable, objective, and accepted by the users as a relevant source of information. Even though the audit reports do consist of valuable information content to investors and other general users of financial statements, in recent times there is a debate over its importance and necessity given the wide audit failures that occurred. This has caused to decrease the value relevance of audit report in investors' decision-making process. Therefore, this study tries to investigate the impact of audit qualification on the share prices of listed companies in the Colombo Stock Exchange (CSE). In order to test the hypothesis, the methodology of short event study, which focuses on a short event window, was used to determine the market reaction to audit qualifications. The sample consisted with 44 firm-year observations from 35 unique companies listed in CSE between 2012 to 2019. It has been considered only the first-time audit qualifications to test the impact of new information. Overall, the results show that only the audit qualification has negative impact on share prices. In particular, the qualifications expressed in the audit report has caused an immediate drop of share prices. The audit profession, investors, creditors, and other general users are likely to benefit from this research and makes it possible to identify the investor's reaction over audit qualifications and evaluate the speed of response.
Author: Wallace N. Davidson
Publisher:
ISBN:
Category :
Languages : en
Pages :
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This paper studies a sample of firms that changed their auditors and examines the potential agency cost issues that may arise. We find that on average the stock market interprets auditor changes as an agency cost because the changes seem to be management entrenching events. We also document that board of director composition influences the stock market's interpretation of the auditor change announcements and therefore that a board of directors can protect firms from management entrenchment behavior.
Author: Charles J.P. Chen
Publisher:
ISBN:
Category :
Languages : en
Pages : 40
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Book Description
This study investigates the valuation effect of modified audit opinions (MAOs) on the emerging Chinese stock market. Here, the term MAO refers to both qualified opinions and unqualified opinions with explanatory note(s). The latter can be considered an alternative form of qualified opinion in China. The institutional setting in China enables us to find compelling evidence in support of the monitoring role of independent auditing as an institution. First, we find a significantly negative association between MAOs and cumulative abnormal returns after controlling for effects of other concurrent announcements. Further, results from a by-year analysis suggest that investors did not reach negative consensus about MAOs' valuation effect until the second year, exhibiting the learning process of a market without prior exposure to MAOs. Second, we do not observe significant differences between market reaction to non-GAAP and GAAP violation related MAOs. Third, no significant difference is found between market reaction to qualified opinions or to unqualified opinions with explanatory note(s).
Author: Li Li Lee
Publisher:
ISBN:
Category : Investments
Languages : en
Pages : 72
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Book Description
Author: Nancy Rueyhwa Mangold
Publisher:
ISBN:
Category : Business & Economics
Languages : en
Pages : 184
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Author: Nancy Rueyhwa Mangold
Publisher:
ISBN:
Category :
Languages : en
Pages : 352
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Book Description
Author: Kim Ittonen
Publisher: University of Vaasa
ISBN: 9524762560
Category : Auditing
Languages : en
Pages : 211
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Book Description
Tiivistelmä: Tilintarkastuskertomukset ja osakemarkkinat.
Author: Yi Wang
Publisher:
ISBN:
Category : Auditing
Languages : en
Pages : 406
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Book Description
Author: Ralph W. Estes
Publisher: Free Press
ISBN:
Category : Business & Economics
Languages : en
Pages : 152
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