合伙人轮换与审计质量的关系论文简介课件

1、Audit Partner Rotation and Financial Reporting QualityBarri Litt, Divesh S.Sharma, Thuy Simpson, and Paual N.TanyiAuditing: A Journal of Practice & TheoryAugust 2014Summary7 years5 years5 years2 yearsRrotation periodCooling-off periodSarbanes-Oxley ActAudit partner rotation has received considerable

2、 attention globally and in the U.S.SummaryAim: Investigate the effect of rotation on financial reporting quality in the U.S.Findings:Lower financial reporting quality following an audit parnter change, which is more prevalent for larger clients.The first 2 years witha new audit partner The final 2 y

3、ears withthe outing going partner FORECAST_EPSADJUSTED_EPS FORECAST_EPSassume that the firm has used discretionary accruals to meet or beat analysts forecasts of EPSResearch DesignFinancial Reporting Qualitymultivariate regression model:MBE_ADJ= 0+ 1 NEW+ 2 LEV+ 3 ALTMAN_Z+ 4 LOSS+ 5 LNTA+ 6 SEGS+ 7

4、 FOREIGN+ 8 STDRET+ 9 OCF_TA+ 10 BIG4+ 11 BTM+ 12 EXORD+ 13 ICW+ 14 ANALYS+ 15 PIND+ 16 BDMTGS + 17 INSPCTG+ DataResearch DesignIdentified all firms that switched audit firms between 2000 and 2004The sample includes only clients that consecutively engaged an audit firm at a specific office for at le

5、ast seven yearsThis approach permits us to determine that at least one audit partner rotation took place at the audit office level.This approach permits us to conduct additional tests to isolate the effects of audit partner change from audit firmResearch DesignDataResultsUnivariate AnalysesResultsRe

6、sultsThe highest correlation between the independent variables is 0.600 The highest variance inflation factor ( VIF) is less than 2.8Both are well below multicollinearity threat thresholds of 0.80 and 10, respectivelyUnivariate AnalysesResultsProbit-Regression-ResultsFirms are more likely to use acc

7、ruals toin the first two years with a new audit partner compared to the last two years with the meet or beat analysts earnings forecasts outgoing partnerUsing Accruals to Meet or Beat Analysts Earnings ForecastsResultsAudit partner rotation primarily affects the financial reporting quality of larger

8、 audit clientsClient Size EffectsResultsPersistence of Effects of Partner RotationThe greater resource capacity available at Big 4 audit firms enables Big 4 auditors to better manage SOX 203 partner rotation requirementsConclusionProvide evidence of lower financial reporting quality following partne

9、r rotationFinancial reporting quality of larger clients and clients of non-Big 4 auditors suffer the most following partner rotationThe greater complexity of larger clients poses audit challenges for all incoming partners, but more so for non-Big 4 audit partnersIndustry specialist auditors and audi

10、tors with larger offices are better able to manage effects of partner rotationLimitationlimit the sample to clients that changed audit firms and retained the same audit firm office for at least seven consecutive yearsThe design maintains internal validity but trades off some external validity. Our r

11、esults may not be generalizable to clients that do not change audit firms but practice partner rotationEncourage future research to corroborate our findings using a larger, more generalizable sample, proprietary data from audit firms, data from countries that disclose partner identityThe sample size

12、 was decreased and may affect the power of the testsIn China作者研究对象结论陈信元、夏立军（2006）2000-2002年的上市公司审计任期与审计质量呈倒U型关系，当审计任期小于一定年份(约6年) 时, 审计任期的增加对审计质量具有正面影响, 而当审计任期超过一定年份(约6年) 时, 审计任期的增加对审计质量具有负面影响沈玉清、戚务清、曾勇（2006）于2004年必须进行签字会计师轮换的公司未发现审计师强制轮换能够提高盈余质量的证据刘启亮、唐建新 （2009）19982002年的A股上市公司在正常的聘任关系下，随着签字审计师任期的延长，审计质量会逐渐提高，但在异常聘任关系下，随着审计师任期的延长，审计质量则会变差In China作者研究对象结论龚启辉、王善平（2009）2001-2007年的上市公司CPA轮换整体上难以抑制公司的盈余操纵，但有助于抑制正向操纵应计利润；CPA 轮换与事务所轮换对审计质量的影响存在重大差异沈玉清、戚务