Does Critical Audit Matters Disclosure Matter? An analysis of your association with Earnings Management
DOI:
https://doi.org/10.17524/repec.v14i1.2432Keywords:
CAM; Earnings Management; Auditing.Abstract
Objetivo: Analisar a relação entre os Principais Assuntos de Auditoria (PAA´s) reportados e o nível de gerenciamento de resultados das empresas brasileiras.
Método: A amostra de pesquisa foi composta por 96 empresas listadas no IBRX 100 cujos dados foram coletados na CVM – Comissão de Valores Mobiliários e na base de dados ComDinheiro, no período compreendido entre 2016 e 2017, utilizando estatística descritiva, testes de diferenças entre as médias e análise de regressão com dados em painel.
Resultados: Os tipos de PAA´s predominantes foram: Recuperabilidade dos ativos, Contingências e Reconhecimento de receitas, respondendo, conjuntamente, nos anos de 2016 e 2017, por 58% e 66%, respectivamente. Observou-se uma associação positiva e significativa entre a quantidade de PAA´s e os accruals e receitas discricionárias e uma associação negativa e significativa entre a quantidade de PAA´s reportados e a proxy de gerenciamento de resultados pelas operações através das despesas discricionárias.
Contribuições: Os resultados têm implicações no debate sobre o tema, afetando as práticas de contadores, auditores e reguladores, pois apresenta insigths relevantes sobre a associação entre a divulgação de PAA´s e as proxies de Gerenciamento de Resultados pelos accruals e pelas operações reais, evidenciando a importância da divulgação dos PAA´s como red flag para manipulação de dados contábeis.
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Beaver, W. H. (1998). Financial Reporting: an accounting revolution. (3rdedn). Upper Saddle River, NJ: Prentice-Hall
Beattie, V., Fearney, S., Brandt, R. (2000). Behind the audit report: a descriptive study of discussion and negotiation between auditors and directors. International Journal of Auditing, 4, 177-202.doi: 10.1111/1099-1123.00312
Boolaky, P., & Omoteso, K. (2016). International standards on auditing in the international financial services centres: What matters? Managerial Auditing Journal, 31(6/7), pp. 727747. doi:doi.org/10.1108/MAJ-09-2015-1243
Brasel, K., Doxey, M., Grenier, J., & Reffett, A. (2016). Risk Disclosure Preceding Negative Outcomes: The Effects of Reporting Critical Audit Matters on Judgments of Auditor Liability. The Accounting Review, 91(5), pp. 1345-1362. doi:10.2308/accr-51380.
Brickley, J. A., Smith, C. W. & Zimmerman, J. L. (2016). Managerial Economics and Organizational Architecture. 6th ed. McGraw-Hill.
Brown, P., Beekes, W.& Verhoeven, P. (2011). Corporate governance, accounting and finance: A review. Accounting & finance, 51(1), 96-172.
Chen, Y., Hsu, J., Huang, M. & Yang, P. (2013). Quality, size, and performance of audit firms. International Journal of Business and Finance Research. 7(5), 89-105.
Ching, K., Firth, M., & Rui, O. M. (2002). Earnings Management, Corporate Governance and the Market Performance of Seasoned Equity Offerings. SSRN Electronic Journal. doi: 10.2139/ssrn.337880
Choi, J.H.& Wong, T.J. (2007) Auditors’ Governance Functions and Legal Environments: An International Investigation. Contemporary Accounting Research, 24, 13-46.
Church, B. K., Davis, S. M.&McCracken, S. A. (2008) The auditor's reporting model: a literature overview and research synthesis. Accounting Horizons.22, 69-90.doi: 10.2308/acch.2008.22.1.69
Cohen, J. R.; Krishnamoorthy, G. & Wrigth, A. (2004).The corporate Governance Mosaic and Financial Reporting Quality. Journal of Accounting Literature, 87-152.
Cohen, D. A., & Zarowin, P. (2010). Accrual-based and real earnings management activities around seasoned equity offerings. Journal of Accounting and Economics, 50(1), 2–19. doi:10.1016/j.jacceco.2010.01.002
Conselho Federal De Contabilidade. Norma NBC TA 701 - Comunicação dos Principais Assuntos de Auditoria no Relatório do Auditor Independente. Brasília, 04 de julho de 2016.
Colares, A.C.V., Alves, K.C. & Pinheiro, L.E.T. Efeitos da Divulgação dos Principais Assuntos de Auditoria no Retorno das Ações no Mercado de Capitais Brasileiro. IX Congresso Brasileiro de Administração e Contabilidade - AdCont 2018 24 a 26 de outubro de 2018 - Rio de Janeiro, RJ
Colares, A.C.V., Silva, J.N. Oliveira, A.B., Moreira, C.L.G., & Aguiar, D.S (2019). Divulgação dos principais assuntos de auditoria sobre o reconhecimento de receitas: uma análise comparativa. Pista: periódico interdisciplinar.
Coram, P. J., Mock, T. J., Turner, J. L. & Gray, Gl L. (2011) The communicative value of the auditor's report. Australian Accounting Review, 21(3), 235-252.
Cupertino, C,Martinez, A. & Costa Jr, N. (2016). Consequências para a rentabilidade futura com o gerenciamento de resultados por meio de atividades operacionais reais. Revista Contabilidade & Finanças, 27(71), doi: 10.1590/1808-057x201602520
Dantas, J., Barreto, I., & Carvalho, P. (2017). Relatório com modificação de opinião: risco para o auditor?. Revista Contemporânea de Contabilidade, 14(33), 140-157. doi:10.5007/2175-8069.2017v14n33p140
Dechow, P. M., Sloan, R. G. & Swenney, A. P. (1995). Detecting Earnings Management. The Accounting Review. 70(2), 193-225.
Dechow, P. M. &Skinner, D. J. (2000). Earnings management: Reconciling the views of accounting academics, practitioners, and regulators. Accounting Horizons, 14(2), 235-250.
Dichev, I. D. & Skinner, D. J. (2002) Large–Sample Evidence on the Debt Covenant Hypothesis. Journal of Accounting Research, 40(4), 1091-1123. doi: 10.1111/1475-679X.00083
Di Pietra, R., McLeay, S., & Ronen, J. (2014). Accounting and Regulation: new insigths on governance, markets and institutions. New York: Springer.
Fama, E. (1970). Efficient Market: A review of theory and empirical work. Journal of Economics, 14, 383-417.
Gaver, J., Gaver K., & Austin, J. (1995). Additional Evidence of Bonus Plans and Income Management. Journal of Accounting and Economics, 19(1), 3–28.
Gimbar, C., T. B. Hansen, and M. E. Ozlanski. 2016. The Effects of Critical Audit Matter Paragraphs and Accounting Standard Precision on Auditor Liability. The Accounting Review: In press.
Gill, A., Biger, N., Mand, H. S.& Mathur, N. (2013). Earnings Management, firm performance, and the value of Indian manufacturing firms. International Research Journal of Finance and Economics, 116, 13-26.
HassabElnaby, H. R. (2006). Waiving Technical Default: The Role of Agency Costs and Bank Regulations. Journal of Business Finance & Accounting, 33(9-10), 1368–1389. doi:10.1111/j.1468-5957.2006.00633.x
Healy, P. M. (1985). The effect of bonus schemes on accounting decisions. Journal of Accouning and Economics, 7, 85-107.
Ishikawa, M., Júnior V. A Responsabilidade e o Papel da Auditoria Independente de Demonstrações Contábeis. IX Congresso Brasileiro de Custos – São Paulo, SP, Brasil, 13 a 15 de outubro de 2002
Jensen, M. C.& Meckling, W. H. (1976) Theory of the firm: managerial behavior, agency costs and ownership structure. Journal of Financial and Economics, 3(4), 305- 360.
Jensen, M. C.& Meckling, W. H. (1994).The nature of man. Journal of Applied Corporate Finance, 7(2), 4-19.
Jensen, M. C. (1986). Agency Costs of Free Cash Flow, Corporate Finance, and Takeovers. The American Economic Review, 76(2), 323-329.
Kauhanen, A., & napari, S. (2012). Performance Measurement and Incentive Plans. Industrial Relations: A Journal of Economy and Society, 51(3), 645–669. doi:10.1111/j.1468-232x.2012.00694.x
Kim, Y., Liu, C. & Rhee, S. G. (2003). The relation of earnings management to firm size (Working paper).University of Hawaii.
Knechel, W. R. (2013). Do Auditing Standards Matter?. Current Issues in Auditing, 7(2), 1-16. doi: 10.2308/ciia-50499
Kothari, S. P., Leone, A. J., & Wasley, C. E. (2005). Performance matched discretionary accrual measures. Journal of Accounting and Economics, 39(1), 163–197. doi:10.1016/j.jacceco.2004.11.002
Kothari, S. P., Ramanna, K., & Skinner, D. J. (2010). Implications for GAAP from an analysis of positive research in accounting. Journal of Accounting and Economics, 50(2-3), 246–286. doi:10.1016/j.jacceco.2010.09.003.
Leuz, C.; Nanda, D.; Wysocki, P. D. (2003). Earnings management and investor protection: an international comparison. Journal of Financial Economics, 69, 505-527.
Lewellen, W. G. & Rosenfeld, A. (1987) Optimal bond refunding strategies. Managerial and Decision Economics, 8(3), 243-250. doi: 10.1002/mde.4090080311
Malacrida, M. J. C. &Yamamoto, M. M. (2006). Governança corporativa: nível de evidenciação das informações e sua relação com a volatilidade das ações do Ibovespa. Revista Contabilidade & Finanças,17,65-79.
Marques, V.A.; Souza, M. K. P. (2017). Principais assuntos de auditoria e opinião sobre o risco de descontinuidade: uma análise das empresas do Ibovespa. Revista de Informação Contábil,11(4), 1-22.
Makar, S. D., & Alam, P. (1998). Earnings Management and Antitrust Investigations: Political Costs Over Business Cycles. Journal of Business Finance Accounting, 25(5&6), 701–720. doi:10.1111/1468-5957.00208
Matos, T., Santos, O., Rodrigues, A., & Leite, R. (2018). Lobbying na regulação de auditoria no âmbito do IAASB. Revista Contabilidade & Finanças, 29(77), 246-265. doi: 10.1590/1808-057x201804330
Mosebach, M. & Simko, P. (2010).Discretionary Accruals and the emergence of profitability. Journal of Accounting, Auditing & Finance, 25(3), 351–374.doi: 10.1177/0148558X1002500304
Paulo, E.;Antunes, M. T. P.& Formigoni, H. (2008). Conservadorismo Contábil nas Companhias Abertas e Fechadas Brasileiras. Revista de Administração de Empresas, 48(3), 46-60. doi: 10.1590/S0034-75902008000300005
Queiroz, J.,& Almeida, J. (2017). Efeitos das Hipóteses da Teoria Positiva da Contabilidade na qualidade da informação contábil. Revista Universo Contábil, 13(3), 50-69. doi: 10.4270/ruc.20173%p
Rodrigues, R. M., Paulo, E. & Melo, C. L. (2017). Gerenciamento de Resultados por decisões operacionais para sustentar desempenho nas empresas não-financeiras do Ibovespa. Contabilidade Vista & Revista, 28(3), 82-102.
Ross, S. (1973) The Economic Theory of Agency: The Principal's Problem. The American Economic Review, Vol. 63, No. 2, Papers and Proceedings of the Eighty-fifth Annual Meeting of the American Economic Association. pp. 134-139.
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Published
2020-03-31
How to Cite
Santos, K. L. dos, Guerra, R. B., Marques, V. A., & Maria Júnior, E. . (2020). Does Critical Audit Matters Disclosure Matter? An analysis of your association with Earnings Management. Journal of Education and Research in Accounting (REPeC), 14(1). https://doi.org/10.17524/repec.v14i1.2432
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