scholarly journals The Impact of Audit Committee’s Effectiveness, Gender, and Tenure on Audit Report Lag: Indonesian Evidence

2019 ◽  
Author(s):  
Kayleen Kayleen ◽  
Senny Harindahyani
Keyword(s):  
Audit Report ◽  
The Impact

Toxic Political Leadership and the Problems of Professionals in Free State Municipalities

2019 ◽  
Vol 48 (1) ◽  
Author(s):  
David Matheakuena Mohale
Keyword(s):  
Good Governance ◽  
Political Leadership ◽  
Primary Source ◽  
Free State ◽  
Audit Report ◽  
Theoretical Understanding ◽  
Number Of Factors ◽  
Auditor General ◽  
Appointed Officials ◽  
The Impact

The 2016–17 Audit Report by the Auditor General points to the deterioration in audit results of South African municipalities. This deterioration confirms the perennial dysfunctionality of municipalities, at least from the governance perspective. Corporate governance is a function of leadership. Municipal councils are, therefore, responsible for the overall performance of municipalities they lead. Sound regulatory framework, good plans, clear strategies, policies, and systems are inadequate if not supported by highly gifted and ethical leadership. The Auditor General’s Audit Report suggests that local government struggles the most in the area of ethics. The Principal-Agent Theory argues that appointed officials are more likely to subvert the interests of an organisation. However, this article argues that the primary source of problems in municipalities is a combination of ineptitude and unethical political leadership taking root. This conclusion is based on the empirical comparative cases of eight municipalities in the Free State Province.  The conduct of councillors makes it difficult to attract and retain professionals in municipalities, resulting in notable deficiencies in the delivery of services. Essentially, councillors are the root cause for governance failure in municipalities arising from a number of factors. Findings in this study contribute towards the understanding of the impact of leadership in the failure of municipalities to meet good governance and developmental objectives. Further, they deepen the theoretical understanding of the political-administrative interface.

THE INSTITUTIONAL EFFECTS OF LEADERSHIP: THE UNITED STATES GENERAL ACCOUNTING OFFICE AND ITS AUDIT REPORT REVIEW PROCESS

1994 ◽  
Vol 21 (1) ◽  
pp. 255-273 ◽  
Author(s):  
Onker N. Basu
Keyword(s):  
United States ◽  
Review Process ◽  
Field Research ◽  
The United States ◽  
Organizational Leaders ◽  
Audit Report ◽  
The Public ◽  
General Accounting Office ◽  
Audit Team ◽  
The Impact

In accounting research, the role of organizational leaders has been underrepresented. The limited research dealing with leadership issues has focused on the impact of leadership on micro activities such as performance evaluation, budget satisfaction, and audit team performance. The impact of leadership on the structure of accounting and audit systems and organizations has been ignored. This paper focuses on the impact that past Comptrollers General have had on the working and structure of one federal audit agency, the United States General Accounting Office (GAO). In addition, it also focuses on the influence of the two most recent Comptrollers General on one important audit related activity, i.e., the audit report review process. Using qualitative field research methods, this paper documents how the organizational leadership impacts its long-term audit practices and thereby influences auditing, especially in the public sector.

scholarly journals The impact of Key Audit Matters (KAMs) on financial information quality: Evidence from Lebanon

2021 ◽  
Vol 19 (2) ◽  
pp. 135
Author(s):  
Joelle Matta ◽  
Khalil Feghali
Keyword(s):  
Value Creation ◽  
Information Quality ◽  
Investment Decision ◽  
Financial Statements ◽  
Financial Information ◽  
Audit Report ◽  
External Auditors ◽  
Expectations Gap ◽  
Expectation Gap ◽  
The Impact

<p>The purpose of this study is to discover the impact of Key Audit Matters (KAMs) on financial information quality and their value for Lebanese auditors. The value creation of KAMs is determined by its financial information quality, its ability to help during investment decision and its effect on the audit expectation gap. The research is conducted through a survey that was filled by external auditors who audit Lebanese banks exclusively, and are involved in the new audit report. The main results show that reporting by using Key Audit Matters adds value to the audit report from the perspective of Lebanese external auditors, and can reduce information asymmetry, increase trust in accounting and reduce the expectation gap. Moreover, the results marked that KAM improves the auditee's understanding in the audited entity, builds confidence in the audited financial statements, and helps to reduce the audit expectations gap.</p>

scholarly journals FAKTOR – FAKTOR YANG MEMPENGARUHI AUDIT REPORT LAG PADA PERUSAHAAN INDUSTRI PLASTIK DAN KEMASAN YANG TERDAFTAR DI BEI PERIODE 2013 – 2018

2020 ◽  
Vol 2 (2) ◽  
pp. 86
Author(s):  
Endang Susilowati ◽  
Yuli Chomsatu S ◽  
Suhendro Suhendro
Keyword(s):  
Hypothesis Test ◽  
Company Size ◽  
Audit Report ◽  
Current Ratio ◽  
Financial Ratio ◽  
Ratio Size ◽  
Equity Ratio ◽  
Packaging Industry ◽  
Audit Opinions ◽  
The Impact

The purpose of this research is to test the impact of the size of the KAP, the financial ratio (debt equity ratio, current ratio), 2018 2013 The audit opinion and the company. The study used 11 plastics and packaging industry companies listed on the IDX period 2013-2018. Simultaneous testing results show that the debt equity ratio, current ratio, size of the HOOD, audit opinions and company size together have the same effect on the audit report lag. The results of the hypothesis test showed that the current ratio and size of the KAP affect the audit report lag, while the results of the debt equity ratio hypothesis test, audit opinions and company size have no influence on the audit report lag Plastic and packaging industry companies.Keywords: Size Public Accountant Office, Financial Ratios, Audit Opinions, Company Size and Audit Report Lag

Auditor Tenure Disclosure and Shareholder Ratification Voting

2021 ◽  
Author(s):  
Paul N. Tanyi ◽  
Dasaratha V Rama ◽  
K Raghunandan
Keyword(s):  
Academic Research ◽  
Public Disclosure ◽  
Audit Report ◽  
Shareholder Voting ◽  
Auditor Tenure ◽  
Audit Firms ◽  
The Impact

The PCAOB mandated, over the objections of the large audit firms and others, that for fiscal years ending on or after December 15, 2017, the audit report shall include information about auditor tenure. In this paper we answer the call for academic research about “the impact and usefulness of the auditor tenure disclosure as it becomes implemented” from Franzel (2017). We use data from 2,718 firms in our analyses. We find that in the case of clients with long (short) auditor tenure, the proportion of shareholder votes not ratifying the auditor increased (decreased) after public disclosure of auditor tenure. Thus, it appears that public disclosure of auditor tenure influenced shareholder voting and sensitized shareholders to longer audit tenures.

scholarly journals Audit committee quality and audit report lag: the role of mandatory adoption of IFRS in Saudi companies

Accounting ◽  
2021 ◽  
pp. 167-178
Author(s):  
Mahfod Mobarak Aldoseri ◽  
Nasr Taha Hassan ◽  
Magdy Melegy Abd El Hakim Melegy
Keyword(s):  
Financial Reporting ◽  
Audit Committee ◽  
Audit Committees ◽  
Strong Impact ◽  
Audit Report ◽  
Before And After ◽  
Mandatory Adoption ◽  
The Impact ◽  
Weak Influence

This paper aims to examine the effect of audit committee characteristics on audit report lag, and also explores whether this effect will vary between before and after mandatory adoption of IFRS in Saudi listed companies. Based on a Saudi sample of 388 firm-year observations from 2015 to 2018, the Poisson regression analysis shows that among audit committee characteristics, only audit committee financial experience significantly influences the timing of financial reporting. The result indicates a weak influence of audit committees on timeliness of financial reporting, which is consistent with the results of most of previous studies. On the other hand, the results show a strong impact of the adoption of IFRS on the context of that relationship, where the results show the impact of IFRS on audit report lag, audit committee quality and the association between them.

Audit-related attributes, regulatory reforms and timely disclosure

2017 ◽  
Vol 15 (2) ◽  
pp. 158-179 ◽  
Author(s):  
Khaled Samaha ◽  
Hichem Khlif
Keyword(s):  
Audit Committee ◽  
Stock Exchange ◽  
Emerging Market ◽  
Chief Executive ◽  
Policy Implications ◽  
Fiscal Year ◽  
Audit Report ◽  
Content Type ◽  
The Impact ◽  
Regulatory Reforms

Purpose This paper aims to examine the impact of audit-related attributes and regulatory reforms on timely disclosure as proxied by audit report lag (ARL) in an emerging market setting, namely, Egypt. Design/methodology/approach The paper used the balanced panel data of 372 firm-years observations of the most actively traded companies on the Egyptian Stock Exchange over the period from 2007 to 2010. The study measures the dependent variable of ARL as the number of days between the client’s fiscal year-end and the audit report. Findings Multivariate analysis indicates that audit committee activity (proxy for regulatory reforms) and external auditor type (proxy for audit-related attributes) contribute significantly to the reduction of ARL and increase disclosure timeliness. Furthermore, the paper found that ARL witnessed a slight decrease following the adoption of the new Egyptian Standards on Auditing (ESA). Finally, the paper’s findings show that industry types moderate the relationship between ARL and several audit-related variables and corporate governance attributes. Practical implications The results may have policy implications for both regulators and investors. For instance, policymakers in Egypt can enact new rules to reduce the Chief Executive Officer duality and establish the minimum required number of audit committee meetings to improve transparency level and, thus, increase disclosure timeliness. Besides, if future regulations aiming to increase disclosure timeliness are intended by Egyptian regulators, this paper’s findings suggest that this may have implications for the audit market because the Big Four audit firms will be more able to meet shorter audit delays. Originality/value The empirical evidence provided in this study further enhances the understanding of timely disclosure in Egypt which represents one of the leading emerging markets in the Middle East and North Africa region.

The impact of accelerated filing requirements on meeting audit report deadlines

2017 ◽  
Vol 30 (01) ◽  
pp. 58-72 ◽  
Author(s):  
Magdy Farag
Keyword(s):  
Audit Report ◽  
Public Accounting ◽  
Control Variables ◽  
Accounting Firms ◽  
Indicator Variable ◽  
Content Type ◽  
Audit Reports ◽  
Measuring Tool ◽  
The Impact ◽  
Practical Implications

Purpose The purpose of this study is to examine audit report lags and audit report deadline margins. It specifically examines whether audits of large accelerated filers are completed within a shorter period as compared with regular accelerated filers due to the introduction of new deadline filing requirements by the SEC. The paper also examines whether large accelerated filers have shorter audit report deadline margins. Design/methodology/approach Using a sample of 7,129 firm-year observations over the period 2007-2013, an OLS regression model is applied by regressing audit report lags and audit report deadline margins on an indicator variable for large accelerated filers and a set of control variables. Findings Results indicate that audits of large accelerated filers have shorter audit report lags as compared with regular accelerated filers. Also, large accelerated filers have shorter audit report deadline margins as compared with regular accelerated filers. These results suggest that even though large accelerated filers’ audits are more complex by nature, auditors of these firms are under more pressure to complete their audits and issue their clients’ audit reports on time. Research limitations/implications While the control variables included in the models are all based on established theories and validated in prior research, there may still be some control variables that were excluded from the study’s models. Also, these results cannot be generalized beyond firms that are categorized as large accelerated filers or accelerated filers. Practical/implications Public accounting firms should be prepared to devote more resources to large accelerated filers’ clients. Also, regulators might need to reconsider revising the filing deadline requirements for the new category of large accelerated filers by weighing the pros against the cons of these new deadlines, as it appears that auditors of large accelerated filers need more time to complete their audits. Originality/value This study uses a new measuring tool in addition to audit report lags, which is the ‘audit report deadline margin’.

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