国际前沿 | Journal of Accounting Literature2018年第1期目录摘要

青年会计学者联合发起会计领域NO.1高端自媒体

传播会计前辈思想，引领青年一代成长

因缘分相聚，因互助成长，因智慧光华

CONTENT

1.The value of public sector audit: Literature and history

Carolyn  Cordery,David  Hay

2.Audit seasonality and pricing of audit services: Theory and evidence from a meta-analysis

Hooi YingNg,Per Christen Tronnes

3.Audit committees’ independence and the information 

content of earnings announcements in Western Europe

Cedric Poretti,Alain  Schatt

4.Risk reporting: A review of the literature and implications 

for future research

Tamer Elshandidy,Philip J.Shrives

5.Analytical procedures in external auditing: A 

comprehensive literature survey and framework for external audit analytics

Deniz A.Appelbaum,Alex Kogan

6.Big data techniques in auditing research and practice: 

Current trends and future opportunities

Adrian Gepp,Martina K.Linnenluecke,Tom Smith

ABSTRACT

1

The value of public sector audit: Literature and history

Carolyn  Cordery, David  

(HayUniversity of Auckland,  New Zealand; Aston University,  United Kingdom)

Abstract:This paper explores the value of financial statement auditing in the public sector. The study applies theory about auditing from the private sector as well as the public sector to explore ways in which public sector auditing can be expected to be valuable. It shows that there are a number of complementary explanations that can be applied to examine the value of public audit, including agency, signaling, insurance, management control, governance and confirmation explanations. The evidence from research and history is generally consistent with the agency and management control explanations. There is some support for the signaling and insurance explanations, while research evidence suggests that governance has differing impact in the public sector compared to the private. The confirmation hypothesis is also potentially relevant. Reviewing the history of the development of public sector auditing functions shows that at least some developments were consistent with explanations such as agency theory and management control. Auditing in the public sector is an area where more research is valuable. The paper concludes with a discussion of issues for further investigation.

Keyword:Auditing;Government;Public sector;Auditing history

2

Audit seasonality and pricing of audit services: Theory and 

evidence from a meta-analysis

Hooi YingNg, Per Christen Tronnes

(School of Accounting, University of New South Wales)

Abstract:Auditing is seasonal, with the majority of U.S. public companies having a December fiscal year-end. This results in an audit “busy season” and “off-season” with a non-trivial seasonal impact on the pricing of audit services. We apply an economic framework that explains how audit seasonality affects both the magnitude and the price elasticity of audit demand and audit supply. We find that the audit busy season is associated with an audit fee premium of approximately 10% based on a meta-analysis of 97 analyses from 18 audit fee studies of U.S public companies. A meta-regression of the contextual differences in research design between studies reveals that examining only Big N attenuates the busy season effect size but does not eliminate it, and that the busy season effect size may be larger post-SOX.

Keyword:Audit seasonality;Audit fees;Audit demand-supply;Price-discrimination

3

Audit committees’ independence and the information content of earnings announcements in Western Europe

Cedric Poretti,  Alain  Schatt

(University of Applied Sciences, HEC Lausanne,  Switzerland)

Abstract:We examine whether the percentage of independent members sitting on the audit committee, in different institutional settings, impacts the market reaction (measured by the abnormal stock returns variance and the abnormal trading volume) to earnings announcements. For our sample composed of more than 7′600 earnings announcements made by European firms from 15 countries between 2006 and 2014, we find that the market reactions to earnings announcements are significantly larger when the audit committee is more independent in countries with weak institutional setting. Our results generally hold after controlling for numerous methodological issues. We conclude that more independent audit committees are substitutes for weak institutions to increase the credibility of earnings announcements. Our results should be of great interest for European regulators who recently introduced new requirements for public firms regarding audit committees’ independence.

Keyword:Audit committee,Europe, Earnings announcements,Market reaction

4

Risk reporting: A review of the literature and implications for future research

Tamer Elshandidy,  Philip J.Shrives

(Northumbria University,  United Kingdom;Bradford University School of Management)

Abstract:This paper provides a wide-ranging and up-to-date (1997–2016) review of the archival empirical risk-reporting literature. The reviewed papers are classified into two principal themes: the incentives for and/or informativeness of risk reporting. Our review demonstrates areas of significant divergence in the literature specifically: mandatory versus voluntary risk reporting, manual versus automated content analysis, within-country versus cross-country variations in risk reporting, and risk reporting in financial versus non-financial firms. Our paper identifies a number of issues which require further research. In particular we draw attention to two: first, a lack of clarity and consistency around the conceptualization of risk; and second, the potential costs and benefits of standard-setters’ involvement.

Keyword:Risk-reporting incentives and informativeness;Mandatory and voluntary risk reporting;Manual and automated content analysis

5

Analytical procedures in external auditing: A comprehensive literature survey and framework for external audit analytics

Deniz A.Appelbaum,  Alex Kogan

(Montclair State University;  Rutgers,the State University of New Jersey,)

Abstract:There is an increasing recognition in the public audit profession that the emergence of big data as well as the growing use of business analytics by audit clients has brought new opportunities and challenges. That is, should more complex business analytics beyond the customary analytical procedures be used in the engagement and if so, where? Which techniques appear to be most promising? This paper starts the process of addressing these questions by examining extant external audit research. 301 papers are identified that discuss some use of analytical procedures in the public audit engagement. These papers are then categorized by technique, engagement phase, and other attributes to facilitate understanding. This analysis of the literature is categorized into an External Audit Analytics (EAA) framework, the objective of which is to identify gaps, to provide motivation for new research, and to classify and outline the main topics addressed in this literature. Specifically, this synthesis organizes audit research, thereby offering guidelines regarding possible future research about approaches for more complex and data driven analytics in the engagement.

Keyword:External audit analytics,Analytical procedures,Big data,Business analytics,Audit engagement

6

Big data techniques in auditing research and practice: Current trends and future opportunities

Adrian Gepp, Martina K.Linnenluecke, Tom Smith

(Bond Business School, Faculty of Business and Economicsq)

Abstract:This paper analyses the use of big data techniques in auditing, and finds that the practice is not as widespread as it is in other related fields. We first introduce contemporary big data techniques to promote understanding of their potential application. Next, we review existing research on big data in accounting and finance. In addition to auditing, our analysis shows that existing research extends across three other genealogies: financial distress modelling, financial fraud modelling, and stock market prediction and quantitative modelling. Auditing is lagging behind the other research streams in the use of valuable big data techniques. A possible explanation is that auditors are reluctant to use techniques that are far ahead of those adopted by their clients, but we refute this argument. We call for more research and a greater alignment to practice. We also outline future opportunities for auditing in the context of real-time information and in collaborative platforms and peer-to-peer marketplaces.

Keyword:Auditing,Big data,Data analytics,Statistical techniques

本期编审人员

资料整理 |   贵州财经大学 在读会计硕士生 王晓倩

执行编辑丨  长江大学   在读会计硕士生    蒋安璇

审核编辑 | 福建农林大学 在读会计硕士生  全   进

终审 |   西北师范大学   在读会计硕士生    杨   阳

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