PL EN


Preferencje help
Widoczny [Schowaj] Abstrakt
Liczba wyników
2016 | 90 | nr 146 | 105--133
Tytuł artykułu

Pomiar jakości sprawozdawczości finansowej w badaniach dotyczących rad dyrektorów i komitetów audytu : przegląd systematyczny

Treść / Zawartość
Warianty tytułu
Boards of Directors, Audit Committees and Financial Reporting Quality : a Systematic Review
Języki publikacji
PL
Abstrakty
Pomiar jakości sprawozdawczości finansowej sprawia problemy, ponieważ sprawozdawczość finansowa jest trudna do zaobserwowania i zmierzenia. Celem artykułu jest przedstawienie metod pomiaru jakości sprawozdawczości finansowej oraz przegląd systematyczny literatury dotyczącej wpływu reform w systemach ładu korporacyjnego na jakość sprawozdawczości finansowej. Główne pytania badawcze to: (1) jakie są możliwości pomiaru sprawozdawczości finansowej do celów badawczych; (2) które z metod pomiaru jakości sprawozdawczości finansowej są wykorzystywane w badaniach dotyczących ładu korporacyjnego oraz (3) jakie zmienne używane do pomiaru czynników związanych z ładem korporacyjnym wpływają na jakość sprawozdawczości finansowej. Aby odpowiedzieć na powyższe pytania, dokonano krytycznej analizy literatury oraz, za pomocą metaanalizy, przeglądu systematycznego wyników badań naukowych. W celu doboru artykułów bazowano na trzyetapowej strategii zbierania najodpowiedniejszych do badania prac, czego wynikiem jest baza składająca się z 38 publikacji. Z przeglądu wynika, że najczęściej używaną przez naukowców metodą mierzenia jakości sprawozdawczości finansowej są modele oparte na pomiarze zarządzania zyskiem w przedsiębiorstwach, a najczęściej występujące zmienne niezależne, opisujące ład korporacyjny, to liczebność komitetu audytu, udział niezależnych dyrektorów w składzie rady nadzorczej, dwoista rola prezesa, udział niezależnych dyrektorów w składzie komitetu audytu, liczebność rady nadzorczej, udział ekspertów rachunkowości w składzie komitetu audytu, częstość spotkań komitetu audytu. (abstrakt oryginalny)
EN
Measurement of financial reporting quality is a problematic task because financial reporting is difficult to observe and measure. The aim of the article is to present the methods of financial reporting quality measurement and a systematic review of literature on the effects of corporate governance reforms on the quality of financial reporting. The main research questions are: (1) what are the possibilities of measuring financial reporting for research purposes, (2) which of the methods of measuring the quality of financial reporting are used in research on corporate governance, and (3) which variables used in measuring corporate governance factors affect financial reporting quality? To answer these questions, a critical analysis of literature and a systematic review of research results using meta-analysis was made. For selecting the best articles a three-step collection strategy was used, which resulted in a database of 38 publications. The review has shown that for measuring the quality of financial reporting researchers most frequently use models based on measurement of risk management, and the most common independent variables describing corporate governance are: the size of the audit committee, presence of independent directors on the supervisory board, dual role of CEO, proportion of independent directors in the audit committee, size of the supervisory board, proportion of accounting experts in the audit committee, and frequency of audit committee meetings. (original abstract)
Rocznik
Tom
90
Numer
Strony
105--133
Opis fizyczny
Twórcy
  • Akademia Leona Koźmińskiego w Warszawie
  • Akademia Leona Koźmińskiego w Warszawie
Bibliografia
  • Agrawal A., Chadha S. (2005), Corporate governance and accounting scandals, "The Journal of Law and Economics", 48, s. 371-406.
  • Ahmed A., Duellman S. (2007), Accounting conservatism and board of director characteristics: an empirical analysis, "Journal of Accounting and Economics", 43 (2-3), s. 411-437.
  • Allegrini M., Greco G. (2011), Corporate boards, audit committees and voluntary disclosure: evidence from Italian listed companies, "Journal of Management & Governance", 17 (1), s. 187-216.
  • Al-Najjar B. (2011), The determinants of audit committee independence and activity: evidence from the UK, "International Journal of Auditing", 15 (2), s. 191-203.
  • Badolato P.G., Donelson D.C., Ege M. (2014), Audit committee financial expertise and earnings management: the role of status, "Journal of Accounting and Economics", 58 (2-3), s. 208-230.
  • Ball R., Shivakumar L. (2005), Earnings quality in UK private firms: comparative loss recognition timeliness, "Journal of Accounting and Economics", 39 (1), s. 83-128.
  • Barua A., Rama D.V., Sharma V. (2010), Audit committee characteristics and investment in internal auditing, "Journal of Accounting and Public Policy", 29 (5), s. 503-513.
  • Basu S. (1997), The conservatism principle and the asymmetric timeliness of earnings, "Journal of Accounting and Economics", 24 (1), s. 3-37.
  • Bauwhede H., Willekens M., Gaeremynck A. (2000), Audit Quality, Public Ownership and Firm's Discretionary Accruals Management, Working Paper.
  • Baxter P., Cotter J. (2009), Audit committees and earnings quality, "Accounting & Finance", 49 (2), s. 267-290.
  • Beaver W., Lambert R., Morse D. (1980), The information content of security prices, "Journal of Accounting and Economics", 2 (1), s. 3-28.
  • Becker C.L., DeFond M.L., Jiambalvo J., Subramanyam K.R. (1998), The effect of audit quality on earnings management, "Contemporary Accounting Research", 15, s. 1-24.
  • Bédard J., Gendron Y. (2010), Strengthening the financial reporting system: can audit committees deliver?, "International Journal of Auditing", 14 (2), s. 174-210.
  • Beekes W., Pope P., Young S. (2004), The link between earnings timeliness, earnings conservatism and board composition: evidence from the UK, "Corporate Governance: An International Review", 12 (1), s. 47-59.
  • Bruynseels L., Cardinaels E. (2014), The audit committee: management watchdog or personal friend of the CEO?, "The Accounting Review", 89 (1), s. 113-145.
  • Burnett B.M., Cripe B.M., Martin G.W., McAllister B.P. (2012), Audit quality and the trade-off between accretive stock repurchases and accrual-based earnings management, "The Accounting Review", 87 (6), s. 1861-1884.
  • Cano Rodríguez M., Sánchez Alegría S. (2012), The value of audit quality in public and private companies: evidence from Spain, "Journal of Management & Governance", 16 (4), s. 683-706.
  • Chan L. (2009), Does client importance affect auditor independence at the office level? Empirical evidence from going-concern opinions, "Contemporary Accounting Research", 26, s. 201-230.
  • Chen H., Chen J.Z., Lobo G.J., Wang Y. (2011), Effects of audit quality on earnings management and cost of equity capital: evidence from China, "Contemporary Accounting Research", 28 (3), s. 892-925.
  • Choi J., Kim J., Zang Y. (2010), Do abnormally high audit fees impair audit quality?, "A Journal of Practice & Theory", 29, s. 115-140.
  • Clarkson P., Simunic D. (1994), The association between audit quality, retained ownership and firm-specific risk in U.S. vs. Canadian IPO markets, "Journal of Accounting and Economics", 17, s. 207-228.
  • Cohen D.A., Zarowin P. (2010), Accrual-based and real earnings management activities around seasoned equity offerings, "Journal of Accounting and Economics", 50, s. 2-19.
  • Contessotto C., Moroney R. (2014), The association between audit committee effectiveness and audit risk, "Accounting & Finance", 54 (2), s. 393-418.
  • Copley P.A. (1991), The association between municipal disclosure practices and audit quality, "The Journal of Accounting and Public Policy", 10, s. 245-266.
  • Dao M., Raghunandan K., Rama V.D. (2012), Shareholder voting on auditor selection, audit fees, and audit quality, "The Accounting Review", 87 (1), s. 149-171.
  • Davidson R., Goodwin-Stewart J., Kent, P. (2005), Internal governance structures and earnings management, "Accounting & Finance", 45 (2), s. 241-267.
  • Davis A.L., Rothstein H.R. (2006), The effects of the perceived behavioral integrity of managers on employee attitudes: a meta-analysis, "Journal of Business Ethics", 67 (4), s. 407-419.
  • De Vlaminck N., Sarens G. (2015), The relationship between audit committee characteristics and financial statement quality: evidence from Belgium, "Journal of Management & Governance", 19 (1), s. 145-166.
  • DeAngelo L.E. (1981), Auditor size and audit quality, "Journal of Accounting and Economics", 3, s. 183-199.
  • Dechow P.M., Dichev I.D. (2002), The quality of accruals and earnings: the role of accrual estimation errors, "The Accounting Review", 77, s. 35-59.
  • Dechow P.M., Richardson S., Tuna I. (2003), Why are earnings kinky? An examination of the earnings management explanation, "Review of Accounting Studies", 8, s. 355-384.
  • Dechow P.M., Sloan R.G., Sweeney A.P. (1995), Detecting earnings management, "The Accounting Review", 70, s. 193-225.
  • Dhaliwal D., Naiker V., Navissi F. (2010), The association between accruals quality and the characteristics of accounting experts and mix of expertise on audit committees, "Contemporary Accounting Research", 27 (3), s. 787-827.
  • Ege M.S. (2015), Does internal audit function quality deter management misconduct?, "The Accounting Review", 90 (2), s. 495-527.
  • Engel E., Hayes R.M., Wang X. (2010), Audit committee compensation and the demand for monitoring of the financial reporting process, "Journal of Accounting and Economics", 49 (1-2), s. 136-154.
  • Evans D., Kowanko I. (2000), Literature reviews: evolution of a research methodology, "The Australian Journal of Advanced Nursing : a Quarterly Publication of the Royal Australian Nursing Federation", 18 (2), s. 33-38.
  • Ferguson, M.J., Seow G.S., Young D. (2004), Non-audit services and earnings management: U.K. evidence, "Contemporary Accounting Research", 21, s. 813-841.
  • Field A.P., Gillett R. (2010), How to do a meta-analysis, "British Journal of Mathematical and Statistical Psychology", 63 (3), s. 665-694.
  • Fontaine R., Khemakhem H., Herda D.N. (2016), Audit committee perspectives on mandatory audit firm rotation: evidence from Canada, "Journal of Management & Governance", 20 (3), s. 485-502.
  • Francis J.R. (2004), What do we know about audit quality?, "British Accounting Review", 36, s. 345-368.
  • Francis J.R., LaFond R., Olsson P., Schipper, K. (2005), The market pricing of accruals quality, "Journal of Accounting and Economics", 39 (2), s. 295-327.
  • Francis J.R., Maydew E.L., Sparks H.C. (1999), The role of Big 6 Auditors in the credible reporting of accruals, "A Journal of Practice & Theory", 18, s. 17-34.
  • García L.S., Barbadillo E.R., Pérez M.O. (2012), Audit committee and internal audit and the quality of earnings: empirical evidence from Spanish companies, "Journal of Management & Governance", 16 (2), s. 305-331.
  • García-Sánchez I.M., Frias-Aceituno J.V., Garcia-Rubio R. (2012), Determining factors of audit committee attributes: evidence from Spain, "International Journal of Auditing", 16 (2), s. 184-213.
  • Geiger M.A., Raghunandan K. (2002), Auditor tenure and audit reporting failures, "A Journal of Practice & Theory", 21, s. 67-78.
  • Ghosh A., Marra A., Moon D. (2010), Corporate boards, audit committees, and earnings management: pre- and post-SOX evidence, "Journal of Business Finance & Accounting", 37 (9-10), s. 1145-1176.
  • Glass G.V. (1976), Primary, secondary, and meta-analysis of research, "American Educational Research Association", 5 (10), s. 3-8.
  • Goh B.W. (2009), Audit committees, boards of directors, and remediation of material weaknesses in internal control, "Contemporary Accounting Research", 26 (2), s. 549-579.
  • Goh B.W., Li D. (2011), Internal controls and conditional conservatism, "The Accounting Review", 86 (3), s. 975-1005.
  • Hay D., Knechel R., Li V. (2006), Non-audit services and auditor independence: New Zealand evidence, "Journal of Business Finance and Accounting", 33, s. 715-734.
  • Hedges H. (2009), Research synthesis as a scientific process, "The Handbook of Research Synthesis and Meta-Analysis", 1.
  • Hoitash R., Markelevich A., Barragato C.A. (2007), Auditor fees and audit quality, "Managerial Auditing Journal", 22, s. 761-786.
  • Hope O., Thomas W.B., Vyas D. (2013), Financial reporting quality of U.S. private and public firms, "The Accounting Review", 88 (5), s. 1715-1742.
  • Hossain S. (2013), Effect of regulatory changes on auditor independence and audit quality, "International Journal of Auditing", 17 (3), s. 246-264.
  • Ianniello G. (2015), The effects of board and auditor independence on earnings quality: evidence from Italy, "Journal of Management & Governance", 19 (1), s. 229-253.
  • Inauen E., Osterloh M., Frey B.S., Homberg F. (2015), How a multiple orientation of control reduces governance failures: a focus on monastic auditing, "Journal of Management & Governance", 19 (4), s. 763-796.
  • Jones J.J. (1991), Earnings management during import relief investigations, "Journal of Accounting Research", 29, s. 193-228.
  • Kepes S., McDaniel M.A., Brannick M.T., Banks G.C. (2013), Meta-analytic reviews in the organizational sciences: two meta-analytic schools on the way to MARS (the Meta-analytic Reporting Standards), "Journal of Business and Psychology", 28 (2), s. 123-143.
  • Kim J., Liu X., Zheng L. (2012), The impact of mandatory IFRS adoption on audit fees: theory and evidence, "The Accounting Review", 87 (6), s. 2061-2094.
  • Kim J.B., Chung R., Firth M. (2003), Auditor conservatism, asymmetric monitoring, and earnings management, "Contemporary Accounting Research", 20, s. 323-359.
  • Kinney W.R., Palmrose Z.-V., Scholz S. (2004), Auditor independence, non-audit services, and restatements: was the U.S. government right?, "Journal of Accounting Research", 42, s. 561-588.
  • Knechel W.R., Vanstraelen A. (2007), The relationship between auditor tenure and audit quality implied by going concern opinions, "A Journal of Practice & Theory", 26, s. 113-131.
  • Knechel W.R., Payne J.L. (2001), Additional evidence on audit report lag, "A Journal of Practice & Theory", 20, s. 137-146.
  • Knechel W.R., Sharma D.S., Sharma V.D. (2012), Non-audit services and knowledge spillovers: evidence from New Zealand, "Journal of Business Finance and Accounting", 39, s. 60-81.
  • Krau K., Quosigk B.M., Zülch H. (2014), Effects of initial audit fee discounts on audit quality: evidence from Germany, "International Journal of Auditing", 18 (1), s. 40-56.
  • Krishnan G.V. (2003), Does Big 6 auditor industry expertise constrain earnings management?, "Accounting Horizons", Supplement, s. 1-16.
  • Krishnan G.V., Visvanathan G. (2008), Does the SOX definition of an accounting expert matter? The association between audit committee directors' accounting expertise and accounting conservatism, "Contemporary Accounting Research", 25 (3), s. 827-858.
  • Krishnan J., Wen Y., Zhao W. (2011), Legal expertise on corporate audit committees and financial report-ing quality, "The Accounting Review", 86 (6), s. 2099-2130.
  • Kulik J.A., Kulik C.L.C. (1989), The concept of meta-analysis, "International Journal of Educational Research", 13, s. 221-340.
  • LaFond R., Roychowdhury S. (2008), Managerial ownership and accounting conservatism, "Journal of Accounting Research", 46 (1), s. 101-135.
  • Lara J.M.G., Osma B.G., Penalva F. (2009), Accounting conservatism and corporate governance, "Review of Accounting Studies", 14 (1), s. 161-201.
  • Liao Y., Chi W., Chen Y. (2012), Auditor economic dependence and accounting conservatism: evidence from a low litigation risk setting, "International Journal of Auditing", 17 (2), s. 117-137.
  • Lim C., Tan H. (2008), Non-audit service fees and audit quality: the impact of auditor specialization, "Journal of Accounting Research", 46, s. 199-246.
  • Lim R. (2011), Are corporate governance attributes associated with accounting conservatism?, "Accounting & Finance", 51 (4), s. 1007-1030.
  • Lin T., Hutchinson M., Percy M. (2015), Earnings management and the role of the audit committee: an investigation of the influence of cross-listing and government officials on the audit committee, "Journal of Management & Governance", 19 (1), s. 197-227.
  • Liu M.H.C., Tiras S.L., Zhuang Z. (2014), Audit committee accounting expertise, expectations management, and nonnegative earnings surprises, "Journal of Accounting and Public Policy", 33 (2), s. 145-166.
  • McNichols M.F. (2002), Discussion of the quality of accruals and earnings: the role of accrual estimation errors, "The Accounting Review", 77, s. 61-69.
  • Messier W.F., Reynolds J.K., Simon C.A., Wood D.A. (2011), The effect of using the internal audit function as a management training ground on the external auditor's reliance decision, "The Accounting Review", 86 (6), s. 2131-2154.
  • O'Sullivan N. (2000), The impact of board composition and ownership on audit quality: evidence from large UK companies, "British Accounting Review", 32, s. 397-414.
  • Palmrose Z.-V. (1988), An analysis of auditor litigation and audit service quality, "The Accounting Review", 63, s. 55-73.
  • Palmrose Z.-V. (1986), Audit fees and auditor size: further evidence, "Journal of Accounting Research", 24, s. 97-110.
  • Payne J.L., Jensen K.L. (2002), An examination of municipal audit delay, "The Journal of Accounting and Public Policy", 21, s. 1-29.
  • Pott C., Tebben T., Watrin C. (2014), The effect of outside directors' and auditors' incentives on managers' ability to manage cash bonuses, "Journal of Management & Governance", 18 (2), s. 505-540.
  • Pucheta-Martínez M.C., García-Meca E. (2014), Institutional investors on boards and audit committees and their effects on financial reporting quality, Corporate Governance: An International Review", 22 (4), s. 347-363.
  • Raghunandan K., Read W.J., Whisenant J.S. (2003), Initial evidence on the association between non-audit fees and restated financial statements, "Accounting Horizons", 17, s. 223-234.
  • Regoliosi C., d'Eri A. (2014), "Good" corporate governance and the quality of internal auditing departments in Italian listed firms. An exploratory investigation in Italian listed firms, "Journal of Manage-ment & Governance", 18 (3), s. 891-920.
  • Roychowdhury S. (2006), Earnings management through real activities manipulation, "Journal of Accounting and Economics", 42, s. 335-370.
  • Ruddock C., Taylor S.J., Taylor S.L. (2006), Non-audit services and earnings conservatism: is auditor independence impaired?, "Contemporary Accounting Research", 23 (3), s. 701-746.
  • Sen K., Sarkar S., Sarkar J. (2008), Board of directors and opportunistic earnings management: evidence from India, "Journal of Accounting, Auditing & Finance", 23 (4), s. 517-551.
  • Sharma D.S., Sidhu J. (2001), Professionalism vs. commercialism: the association between non-audit services (NAS) and audit independence, "Journal of Business Finance and Accounting", 28, s. 595-629.
  • Sharma V.D., Kuang C. (2014), Voluntary audit committee characteristics, incentives, and aggressive earnings management: evidence from New Zealand, "International Journal of Auditing", 18 (1), s. 76-89.
  • Sharma V.D., Iselin E.R. (2012), The association between audit committee multiple-directorships, tenure, and financial misstatements, "A Journal of Practice & Theory", 31 (3), s. 149-175.
  • Srinidhi B., Gul F.A. (2007), The differential effects of auditors' non-audit and audit fees on accrual quality, "Contemporary Accounting Research", 24, s. 595-629.
  • Srinivasan S. (2005), Consequences of financial reporting failure for outside directors: evidence from accounting restatements and audit committee members, "Journal of Accounting Research", 43 (2), s. 291-334.
  • Sultana N. (2015), Audit committee characteristics and accounting conservatism, "International Journal of Auditing", 19 (2), s. 88-102.
  • Vafeas N. (2005), Audit committees, boards and the quality of reported earnings, "Contemporary Accounting Research", 22 (4), s. 1093-122.
  • van Essen M., van Oosterhout J.H., Carney M. (2012), Corporate boards and the performance of Asian firms: a meta-analysis, "Asia Pacific Journal of Management", 29 (4), s. 873-905.
  • Viswesvaran C., Sanchez J.I. (1998), Moderator search in meta-analysis: a review and cautionary note on existing approaches, "Educational and Psychological Measurement", 58 (1), s. 77-87.
  • Watts R. (2003), Conservatism in accounting - Part I: Explanations and implications, "Accounting Horizons", 17 (3), s. 207-221.
  • Wysocki P.D. (2009), Assessing Earnings and Accruals Quality: U.S. and International Evidence, Working Paper, 2009.
  • Ye P., Carson E., Simnett R. (2011), Threats to auditor independence: the impact of relationship and economic bonds, "A Journal of Practice & Theory", 30, s. 121-148.
  • Yeh Y., Chung H., Liu C. (2011), Committee independence and financial institution performance during the 2007-08 credit crunch: evidence from a multi-country study, "Corporate Governance: An International Review", 9 (5), s. 437-458.
Typ dokumentu
Bibliografia
Identyfikatory
Identyfikator YADDA
bwmeta1.element.ekon-element-000171458993

Zgłoszenie zostało wysłane

Zgłoszenie zostało wysłane

Musisz być zalogowany aby pisać komentarze.
JavaScript jest wyłączony w Twojej przeglądarce internetowej. Włącz go, a następnie odśwież stronę, aby móc w pełni z niej korzystać.