破产与先前审计意见联系的最近变化【外文翻译】

1、本科毕业论文外文翻译外文文献译文标题：破产与先前审计意见联系的最近变化资料来源：审计实践与理论杂志24卷第1期作者：marshall a. geiger, k. raghunandan, and dasaratha v. rama引言：在2001年12月期间美国审计界产生了动荡。经过2001年12月开 始的一系列的国会听证会，萨班斯奥克斯利法案“ （sox法案2002年）于 2002年7月颁布。鉴于听证会和随之而来的媒体专注于审计专业，以及其他高 知名度企业于2001年倒闭和2002年,促进了 sox法案的颁布这一系列的事件, 可以合理的预期，审计师的行为从2001年12月开始将对这些事件产牛

2、显着影 响。在木文中，我们将硏究有可能破产的公司在收到修改事先持续经营审计意 见的变化。我们认为，审计人员的观点决策越来越保守开始于2002年1月，目 的在于提高其作为一个高品质的审计师的声誉，减少审计师自身的诉讼风险， 提高投资者的水平和公众的监督的专业水平，并且要积极主动，尝试着减少政 府干预的程度和对行业的立法。这项研究的动机来自：（1）对会计界，立法会议员和公众对关于审计师挂起的客户端故障的审计意 见修改形式的早期警告的持续关注（2）需要评估的改变审计环境对审计师决定的影响。我们的研究重点放在2001年和2002年的事件对审计意见的变化，尤其是 极大地改变了在美国的审计范式在2002年

3、初的国会和媒体关注的焦点几乎完 全不利于审计专业，并导致审计监管和法律框架的显着变化。因此，我们推测审计师报告的决定在2001年12月以后的期间将更保守。 最有可能的结果是破产公司会收到修改事先持续经营的审计意见。我们为226 家公司在2000年至2003年进入破产发表事前审核意见。我们发现，经过控制 的财政压力，默认状态，客户端的大小，破产和报告滞后，行业类型，及审计 师类型，审计师更可能发行2001年12月期间的持续关注修改后的审计意见。 自从美国经济从2002.03期在经济衰退中恢复，我们也比较了再过去的2001年 12月期间，与早期在美国经济从衰退到复苏的破产企业，即1991.92复苏

4、的审 计意见。我们发现，审计师更可能发行2001年12月期间的持续关注修改后的 审计意见而不是早期经济从衰退中复苏的时期此外，使用弗朗西斯和krishnan （2002）中讨论的技术，我们评估审计意 见决定的变化，作为一个客户端的特点和在审计师报告策略的变化变化的结合。通过这种方法，我们发现，在持续经营的修改意见后，2001年12月增加 的重要组成部分，可以归结为核数师报告策略的变化。总的来说，我们的结果是一致的立场，即审计师更可能发行2001年12月 期间的持续关注修改后的审计意见。概要和结论：会计界见证后，2001年12月期间的显著变化。一串高调的 企业倒闭，导致一系列负面描绘审计师，并最

5、终导致颁布的“萨班斯奥克斯 利法案的国会听证会。因此，它很有可能是继2001年12月期间后，审计师的 判断将变得更为保守，以便：（1）提高自己的声誉，（2）减少诉讼风险，和（3） 要积极主动，以减少政府干预。在本文屮，我们探讨破产和2001年12月z前和z后的审计意见z间的关 联。我们专注于为破产企业的审计意见，因为立法者的持续关注和市民关于修 改审计意见的形式挂起的客户端故障的审计师有关预警充足。我们检查了 226 公司在从2000年至2003年期间，进入破产前的审计意见。我们的分析介绍， 在2001年12月后期，破产公司的证据更有可能收到事先持续经营审计意见。为了解决由于宏观经济条件混杂产

6、生影响的可能性，我们还可以使用 1991.92破产的企业作为另一个控制样本。从衰退屮复苏时期的破产公司事前审 计意见的比较表明，2001年12月后期审计师更可能发行事先关注的修改意见。最后，我们使用弗朗西斯和krishnan （2002）建议的方法來分解，接收到 的一个持续经营的修改后的审计意见分为两部分的概率的变化：（1）的变化， 由于客户端的特点（2）由于审计师报告的变化战略。这种分解分析要先确认其 他条件不变，审计人员发现，更容易发行的是2001年12月后期的破产公司的 事前持续经营的意见。我们的研究结果表明，发现审计师的一个显著转变，审计师的决定在2001 年12月后期比以前期间更保守

7、。这个结果说明应该考虑到审计师，以及立法会 议员，标准制定者和公众的利益。本文的实证证据表明，有多种方式來影响审 计师的行为。一种方法是改变审计准则或法律，而另一种是通过媒体和国会的 专业批判（由公众压力来改变）。sox对报告的持续关注保持沉默，但在2001 年12月后期审计师的行为与持续关注报告有关。我们认为这种变化可能与行业 有关。全面关注与恢复并给予更积极的声誉，提高媒体和国会的关注，并可能 威胁到进一步的规范或集体诉讼相关。本文提出的证据，也可以从行业本质上自我纠正的角度给予支持。反过来, 这表明，监管机构和标准制定者（女口 sec和pcaob）颁布进一步详细，硬性 规定的法规z前，应

8、评估2001年12月后期间的审计专业行为改变的程度。为 今后研究的一个有趣的途径是研究在2001年12月后期在其他情况下是否有审 计师行为的变化，女山（1）客户端接受和保留，（2）审计测试的范围和组合， 和（3）审计费用。我们的结论是讨论的局限性和可能的延伸。我们的论文，只集中于ii型misclassifications （破产企业未经事先持续经营 修改的意见）。而这种审计misclassifications继续成为立法会议员和媒体的焦点, 这也是值得研究的misclassifications类型（持续经营的修改意见，随后口j彳亍的 公司）在2001年12月后期的比例发生变化。此外，在这项研究

9、中，我们已经 研究出了从2001年12月后期的两个多年里的破产企业。这是一个有趣的问题, 为今后研究是否增加对持续关注的修改后的审计意见的倾向性研究的问题（或 者审计师保守主义的其他形式）只是一个临时短暂的影响（由于2002年媒体和 立法者的灯光聚焦。）或长期持久的影响。最后，我们的数据表明，提高审计人 员的保守主义并不在增加费用上延误审计，但是，我们的样品只限于破产的公 司。有趣的是为今后的研究进行检测，是否这种模式（即不会导致审计延误和 成本增加的保守主义）也可以观察到的公司的总人数。外文文献原文recent changes in the association betweenbankru

10、ptcies and prior audit opinionssource : auditing: a journal of practice & theory vol. 24, no. 1author： marshall a. geiger, k raghunandan and dasaratha v. ramaintroductionthe period since december 2001 has been tumultuous for the auditing profession in the u.s. after a series of congressional hea

11、rings beginning in december 2001, the sarbanes-oxley act (sox 2002) was enacted in july 2002. in light of the hearings and the attendant media focus on the auditing profession, as well as the other high-profile corporate failures in 2001 and in2002 that facilitated the enactment of sox, it is reason

12、able to expect that auditors, behavior would have been significantly affected by these events beginning in december 2001.in this paper we examine changes in the likelihood of bankrupt firms having received a prior going-concern modified audit opinion. we argue that auditors became more conservative

13、in their opinion decisions beginning in january 2002 in order to enhance their reputation as a high-quality auditor, reduce the auditor.s litigation risk given the heightened level of investor and public scrutiny of the profession, and to be proactive in an attempt to reduce the extent of government

14、 intervention and legislation imposed on the profession. motivation for this research comes from:(1) the continuing concern of the accounting profession, legislators, and the public regarding early warnings from auditors about pending client failures in the form of modified audit opinions, and(2) th

15、e need to assess the impact of the changed auditing environment on auditors, decisions.our study focuses on changes in audit opinions following the events of 2001 and 2002 that dramatically altered the auditing paradigm in the u.s. the congressional and media spotlight in early 2002 was almost entir

16、ely unfavorable to the auditing profession, and led to significant changes in the regulatory and legal framework of auditing.hence, we hypothesize that auditors, reporting decisions would be more conservative in the period after december 2001, resulting in a higher likelihood that bankrupt firms wou

17、ld have received a prior going-concern modified audit opinion. we examine the prior audit opinions issued for 226 firms that entered into bankruptcy during the years 2000 through 2003. we find that, after controlling for financial stress, default status, client size, bankruptcy and reporting lags, i

18、ndustry type, and auditor type, auditors were more likely to issue going-concern modified audit opinions in the period after december 2001. since the u.s. economy was recovering from a recession in the 2002.03 period, we also compare audit opinions in the post-december 2001 period with audit opinion

19、s for bankruptcies from an earlier period when the u.s. economy was recovering from a recession, namely 1991.92. we find that auditors were more likely to issue going-concern modified opinions in the post-december 2001 period than in the earlier recession recovery period.additi on ally, using the te

20、ch nique discussed in francis and krishna n (2002), we assess changes in audit opinion decisions as a combination of changes in client characteristics and changes in auditor reporting strategies.with this approach, we find that a significant part of the increase in going-concern modified opinions af

21、ter december 2001 can be attributed to changes in auditor reporting strategies.overall, our results are consistent with the position that auditors are more likely to issue going-concern modified audit opinions in the period after december 2001.summary and conclusionsthe accounting profession witness

22、ed significant changes in the period after december 2001. a string of high-profile corporate failures resulted in a series of congressional hearings that portrayed auditors negatively and ultimately led to the enactment of the sarbanes-oxley act. hence, it is likely that auditors would have become m

23、ore conservative in their judgments in the period after december 2001 in order to: (1) enhance their reputation, (2) reduce litigation risk, and (3) be proactive to reduce government intervention.in this paper we examine the association between bankruptcies and prior audit opinions in periods before

24、 and after december 2001. we focus on audit opinions for bankrupt firms because of the continuing concern of legislators and the public about the adequacy of early warnings from auditors about pending client failures in the form of modified audit opinio ns. we examine prior audit opinions for 226 co

25、mpanies that entered into bankruptcy during the period from 2000 to 2003. our analysis presents evidence that, in the post-december 2001 period, bankrupt firms were more likely to have received a prior going-concern modified audit opinion.to address the possible confounding effects due to macroecono

26、mic conditions, we also use bankrupt firms from 1991.92 as another control sample. a comparison of prior audit opinions for bankrupt firms from the two recession recovery periods indicates that auditors were more likely to have issued a prior going concern modified opinion in the post-december 2001

27、period.finally, we use the approach suggested by francis and krishnan (2002) to decompose the change in probability of receiving a going-concern modified audit opinion into two parts: (1) changes due to client characteristics and (2) changes due to auditor reporting strategies. such decomposition an

28、alyses confirm the finding that, ceteris paribus, auditors are more likely to issue a prior going-concern opinion for bankruptcies in the post-december 2001 period.our results suggest that there was a significant shift in auditors, decisions were more conservative in the post-december 2001 period th

29、an in prior periods. this is a result that should be of interest to auditors, as well as legislators, standard setters, and the public. the empirical evidence in this paper suggests that there are multiple ways to influence auditor behavior. one way is to change the auditing standards or laws, but a

30、nother is to have the media and congress criticize the profession (public pressure to change). sox is silent about going-concern reporting, but auditor behavior related to going-concern reporting changed in the post-december 2001 period. we believe this change is likely due to the profession overall

31、 concerns related to regaining a more positive reputation given the heightened media and congressional attention and the possible threat of further regulation or class-action litigation.the evidence presented in this paper can also be used to support the perspective that the profession is essentiall

32、y self-correcting. this in turn suggests that regulators and standard setters (such as the sec and the pcaob) should evaluate the extent of the auditing profession changed behavior in the post-december 2001 period before promulgating further detailed, prescriptiveregulations. to our knowledge, this

33、is the first paper that examines changes in auditor behavior in the post- december 2001 period. an interesting avenue for future research is to examine if there is a post-december 2001 change in auditor behavior in other contexts, such as: (1) client acceptance and retention, (2) extent and mix of audit testing, and (3) audit fees.we conclude with a discussion of limitations and possible extensions. our paper focuses only on type ii misclassifications (