Auditor Communication in an Evolving Environment: Going Beyond Sas 600 Auditors’ Reports on Financial Statements

Manson, Stuart; Zaman, Mahbub

doi:10.1006/bare.2001.0157

Cited by 44 publications

(42 citation statements)

References 18 publications

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“…Issues discussed in this category could be the components of the audit risk model, including the risk of material misstatement (inherent and control risk) and detection risk Porter et al, 2009). (4) Further information on the results of the auditor's evaluation of the financial statements, such as the quality of the client's financial statements (Gray et al, 2011); the quality of the client's internal control system (Manson and Zaman, 2001); the likelihood of fraud and illegal acts ; an assessment of potential going concern problems (Porter et al, 2009); an assessment of the sustainability of the client's business (Turner et al, 2010); information on the auditor's communication with those charged with governance (IOSCO, 2009); the percentage of waived and adjusted misstatements in the financial statements (McEnroe and Martens, 2001); and information disclosed in the management letter (Gray et al, 2011). (5) Disclosures beyond the scope of the financial statement audit.…”

Section: Introductionmentioning

confidence: 99%

The Audit Reporting Debate: Seemingly Intractable Problems and Feasible Solutions

Vanstraelen

Schelleman

Meuwissen

et al. 2012

European Accounting Review

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While the audit reporting debate has a long history, a number of recent regulatory initiatives and policy reviews increase the likelihood of change in this area. The purpose of this study is to use this momentum and examine whether there is consensus between audit report users and auditors with regard to the form and content of the audit report. This seems necessary because past audit reporting reforms have failed due to a lack of common ground. Based on interviews with users and auditors, we conclude that reaching a level of consensus seems feasible. Using these insights, we propose an alternative audit reporting model that may significantly reduce the information gap between users and auditors and improve transparency on the quality of audit practice.

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Section: Introductionmentioning

confidence: 99%

The Audit Reporting Debate: Seemingly Intractable Problems and Feasible Solutions

Vanstraelen

Schelleman

Meuwissen

et al. 2012

European Accounting Review

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“…Given the adoption of new audit methodologies (Bell et al 1997;KPMG 1999;Lemon et al 2000) and concerns about the external reporting of audit findings (Hatherly et al 1998;Manson and Zaman 2001), the impact of ACs on the external audit process and on auditor communication is an important issue. Although there is some evidence that auditors gather information on corporate governance primarily at the preplanning and the planning stages (Cohen and Hanno, 2000), there is limited research evidence of AC impact on the audit process.…”

Section: Auditor Process and Reportingmentioning

confidence: 99%

The Corporate Governance Effects of Audit Committee

Turley

Zaman

2014

Accounting and Regulation

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This chapter provides a synthesis and evaluation of empirical research on the governance effects associated with audit committees. Given recent policy recommendations in several countries aimed at strengthening these committees, it is important to establish what research evidence demonstrates about their existing governance contribution. A framework for analyzing the impact of audit committees is described, identifying potential perceived effects which may have led to their adoption and documented effects on aspects of the audit function, on financial reporting quality and on corporate performance. It is also shown that most of the existing research has focused on factors associated with audit committee existence, characteristics, and measures of activity and there is very little evidence on the processes associated with the operation of audit committees and the manner in which they influence organizational behavior. It is clear that there is no automatic relationship between the adoption of audit committee structures or characteristics and the achievement of particular governance effects, and caution may be needed over expectations that greater codification around factors such as audit committee members' independence and expertise as the means of ''correcting'' past weaknesses in the arrangements for audit committees. The most fundamental question concerning what difference audit committees make in practice continues to be an important area for research development. For future research we suggest: (1) greater consideration of the organizational and institutional contexts in which audit committees operate; (2) explicit theorization of the processes associated with

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“…Strict regulations on bank entry, limitations on bank activities, and repressing banks' conducting their business, all raise the cost of financial intermediation and have detrimental effect on financial development (Demirgüç-Kunt et al 2003). Manson and Zaman (2001) stated that, while an audit report strengthens the believability of financial statements, the users of financial statements care more about the auditors' assessment of the going concern of the firm, and whether or not fraudulent or illegal acts emerge from the auditors' findings. Based on the above, this paper suggests that the financial ecological environment may be the prime criterion triggering regional financial center modernization.…”

Section: Financial Infrastructure and Safetymentioning

confidence: 99%

Improving China’s Regional Financial Center Modernization Development Using a New Hybrid Madm Model

Jian-guo

Tzeng

2017

Technological and Economic Development of Economy

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Abstract. The regional financial center is the propeller of regional economic development. Regional financial center modernization, however, has been the predominant propulsion of economic sustainability. Decisions related to regional financial center modernization development are inherent problems of multiple attribute decision-making (MADM), and strategically important to the government. The purpose of this paper is to set up a regional financial center improvement model for modernization development, as based on a hybrid MADM model, which addresses the main causal-effect factors and amended priorities in order to strengthen ongoing planning. This paper adopts a new hybrid MADM model combined with the DEMATEL technique to construct an influential network relationship map (INRM) and determined the influential weights of DANP. Then, a modified VIKOR method using influential weights is applied to measure and integrate the performance gaps from each criterion into dimensions, as well as the overall criterion for evaluating and improving the modernization development of the regional financial center, as based on INRM. Finally an empirical case study using data from the Guangzhou regional financial center is carried out as an example to demonstrate the suitability of the proposed hybrid MADM model for solving real-world problems. The results show the priorities for improvement, as based on the degree of the effect and impact of the dimensions, as follows: first is making "government policy", second is enforcing "financial infrastructure and safety", next is formulating "financial institutions and human resources", and finally "financial service".

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Auditor Communication in an Evolving Environment: Going Beyond Sas 600 Auditors’ Reports on Financial Statements

Cited by 44 publications

References 18 publications

The Audit Reporting Debate: Seemingly Intractable Problems and Feasible Solutions

The Audit Reporting Debate: Seemingly Intractable Problems and Feasible Solutions

The Corporate Governance Effects of Audit Committee

Improving China’s Regional Financial Center Modernization Development Using a New Hybrid Madm Model

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