美国独立审计论文范文 [2]
论文作者:www.51lunwen.org论文属性:作业 Assignment登出时间:2014-06-13编辑:lzm点击率:12106
论文字数:5838论文编号:org201406131450554257语种:英语 English地区:中国价格:免费论文
关键词:独立审计论文范文Audit ServicesAudit IndependenceAccounting Review
摘要:To conclude, some suggestions are given below:
Promote the NAS in Chinese audit market. As illustrated above, NAS will enhance the audit work rather than impair the independence, the promotion of NAS will help to increase the Chinese audits’ quality and enhance the auditors’ performance.
s a literature review. In second section, two cases will be illustrated and analyzed. Some suggestions for how to improve the Chinese audit market will be given in the final part to complete this article.
Literature review
There are many researches examining the provision of NAS and its potential threat to the auditor’s independence.
The research that has been completed primarily relies upon auditor fee disclosures from the late 1970s that was required by Accounting Series Release No. 250 (ASR No. 250), Disclosure of Relationships with Independent Public Accountants (sec 1978). ASR No. 250 was effective for a limited period from September 30, 1978, until it receded in 1982. In general, early research conducted based on ASR No. 250 data does not find that the provision of NASs impairs perceptions of auditor independence (e.g., see Scheiner 1984; Glezen and Millar 1985; Antle et al. 1997). SEC conducted some surveys concerned the audit independence in 2002. However, none of the studies recommended the separation of auditing from consulting.
A related and more recent stream of research investigates whether non-audit fees impair independence in fact (DeFond et al. 2002; Francis and Ke 2002; Frankel et al. 2002; Ashbaugh et al 2003; Chung and Kallapur 2003; Geiger and Rama 2003; Reynolds et al. 2004). Frankel et al. (2002) find that non-audit fees are positively related to companies beating analysts' forecasts as well as the magnitude of discretionary accruals. However, subsequent research suggests that the results of Frankel et al. (2002) fail to replicate their results (Francis and Ke 2002; Ashbaugh et al. 2003; Chung and Kallapur 2003; Reynolds et al. 2004). Moreover, further research has failed to find evidence that non-audit fees impair auditor independence where independence is proxied for by the propensity to issue modified audit opinions (DeFond et al. 2002; Geiger and Rama 2003). In general, this research provides little evidence to suggest that auditors providing NASs to audit clients impair auditor independence in fact. (Brandon, Crabtree,and Maher, 2004, p89)
An alternative stream of research suggests that non-audit fees can impair the perception of audit independence (Brandon, Crabtree,and Maher, 2004, p89). Some experimental studies using professional decision makers show that the perception of auditor independence is negatively affected by material business relationships with client companies (e.g., Lowe and Pany 1995, 1996; Swanger and Chewning 2001). In addition, some empirical studies examine the reaction of equity market participants to the disclosure of auditor fees. Frankel et al. (2002) use an event study methodology and find evidence of a negative stock price reaction to the unexpected portion of non audit fees rather than the level of these fees. Ashbaugh et al. (2003) perform similar analyses, but some other information disclosed in proxy statements are used. They find no evidence that the market reacts to the information contained in the ratio of non audit fees to total fees collected by the firm's auditor.
Raghunandan (2003) investigates stockholder voting to approve incumbent auditors. His results indicate that voting to ratify the auditor is negatively associated with the level of NAS provided, but similar to Frankel et al (2002), the effect is very small in practical terms. Raghunandan (2003) concludes th
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