Download or read book Auditor Going Concern Reporting written by Marshall A. Geiger and published by Routledge. This book was released on 2021-06-09 with total page 160 pages. Available in PDF, EPUB and Kindle. Book excerpt: Auditor reporting on going-concern-related uncertainties remains one of the most challenging issues faced by external auditors. Business owners, market participants and audit regulators want an early warning of impending business failure. However, companies typically do not welcome audit opinions indicating uncertainty regarding their future viability. Thus, the auditor’s decision to issue a "going concern opinion" (GCO) is a complex and multi-layered one, facing a great deal of tension. Given such a rich context, academic researchers have examined many facets related to an auditor’s decision to issue a GCO. This monograph reviews and synthesizes 182 recent GCO studies that have appeared since the last significant review published in 2013 through the end of 2019. The authors categorize studies into the three broad areas of GCO: (1) determinants, (2) accuracy and (3) consequences. As an integral part of their synthesis, they summarize the details of each study in several user-friendly tables. After discussing and synthesizing the research, they present a discussion of opportunities for future research, including issues created or exacerbated as a result of the global COVID-19 pandemic. This monograph will be of assistance to researchers interested in exploring this area of auditor responsibility. It will also be of interest to auditing firms and individual practitioners wanting to learn what academic research has examined and found regarding this challenging aspect of audit practice. Auditing standard-setters and regulators will find it of interest as the authors review numerous studies examining issues related to audit policy and regulation, and their effects on GCO decisions. The examination of GCO research is extremely timely given the financial and business disruption caused by the worldwide COVID-19 pandemic. This unprecedented global event has caused companies, auditors and professional bodies to revisit and reassess their approach to going concern, and to think even more deeply about this fundamental business imperative.

Download or read book Audit Reporting for Going Concern Uncertainty written by Sandro Brunelli and published by Springer. This book was released on 2018-01-30 with total page 115 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book employs a narrative analytical approach to explore all aspects of the debate surrounding auditor reporting on going concern uncertainty worldwide. In-depth analysis of significant academic studies and of regulatory perspectives is combined with an illuminating empirical study in the Italian context. The book opens by discussing the assessment of going concern for accounting and auditing purposes. It is examined how going concern is considered in the FASB and IASB accounting standards and how auditors in the PCAOB and IAASB environments should verify its presence in financial statements and report on it in the audit report. Accounting and auditing in relation to going concern in other jurisdictions are also addressed. Research into the determinants, accuracy, and consequences of going concern opinions (GCO) is then thoroughly reviewed, with separate examination of studies and trends in the United States, Europe, and the rest of the world. In the third part of the book, interesting evidence from the Italian Stock Market, including investor reactions to GCOs during the period 2008–2014, is presented and evaluated. The book will be of interest to academics, regulators, and practitioners alike.

Download or read book Audit Report Disclosures of Going Concern Uncertainties written by David B. Citron and published by . This book was released on 1999 with total page 53 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Resolution of Uncertainies in Audit Reports written by Walker E. Fessmire and published by . This book was released on 1991 with total page 16 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book The Disclosure of Going Concern Uncertainties in Company Accounts written by David B. Citron and published by . This book was released on 2002 with total page 78 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Approaches to Dealing with Risk and Uncertainty written by J. Efrim Boritz and published by CICA = ICCA. This book was released on 1990 with total page 166 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book FRS 102 written by and published by . This book was released on 2015 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Exposure Draft written by American Institute of Certified Public Accountants. Task Force on Risks and Uncertainties and published by . This book was released on 1993 with total page 80 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Going Concern Uncertainties in Pre Bankrupt Audit Reports written by Laura Arnedo and published by . This book was released on 2008 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper extends the traditional view of audit failures related to the going-concern (GC) assumption to two circumstances scarcely analyzed in the audit literature: the earnings overstatement that characterizes firms without a going-concern uncertainty (GCU) in their audit reports and the wording used by auditors in the GC qualifications. We find significant differences between the discretionary accruals of Spanish GC and non-GC companies. After discounting their effect, the client's financial condition loses its significance in the multivariate explanation of the GCU and auditor size is the variable that better explains the qualifications. We also find that a large percentage of GCUs are written ambiguously and with an overuse of conditional language, but no client or auditor attributes significantly explain differences in the GCU wording. Our results support the need to strengthen the enforcement mechanisms, as a GC audit Standard is not, by itself, enough to efficiently control auditor behaviour.

Download or read book Audit Reports and Stock Markets written by Kim Ittonen and published by University of Vaasa. This book was released on 2009 with total page 211 pages. Available in PDF, EPUB and Kindle. Book excerpt: Tiivistelmä: Tilintarkastuskertomukset ja osakemarkkinat.

Download or read book Report of the Task Force on Risks and Uncertainties written by American Institute of Certified Public Accountants. Task Force on Risks and Uncertainties and published by . This book was released on 1987 with total page 44 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Fair Value Measurements written by International Accounting Standards Board and published by . This book was released on 2006 with total page 104 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book The Why and How of Auditing written by Charles Hall and published by . This book was released on 2019-06-25 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: This book assists auditors in planning, performing, and completing audit engagements. It is designed to make auditing more easily understandable.

Download or read book Government Auditing Standards 2018 Revision written by United States Government Accountability Office and published by Lulu.com. This book was released on 2019-03-24 with total page 234 pages. Available in PDF, EPUB and Kindle. Book excerpt: Audits provide essential accountability and transparency over government programs. Given the current challenges facing governments and their programs, the oversight provided through auditing is more critical than ever. Government auditing provides the objective analysis and information needed to make the decisions necessary to help create a better future. The professional standards presented in this 2018 revision of Government Auditing Standards (known as the Yellow Book) provide a framework for performing high-quality audit work with competence, integrity, objectivity, and independence to provide accountability and to help improve government operations and services. These standards, commonly referred to as generally accepted government auditing standards (GAGAS), provide the foundation for government auditors to lead by example in the areas of independence, transparency, accountability, and quality through the audit process. This revision contains major changes from, and supersedes, the 2011 revision.

Download or read book The Auditor s Going Concern Opinion Decision written by Ann Vanstraelen and published by . This book was released on 2010 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This research attempts to find empirical evidence of ex ante factors relating to the economic trade?offs that an auditor faces when deciding whether or not to disclose going concern uncertainties in an audit report in a non?litigious continental European setting, Belgium. The research methodology consists of univariate and logistic regression analysis. The results of the study confirm the belief that the auditor's going concern opinion decision is not only a question of competence but also of independence. A significant moderating factor appears to be recent client loss on the part of the auditor. The legal obligation for Belgian auditors to refer to the report of the Board of Directors in their own audit report seems to significantly influence their reporting behaviour. The disclosure by the Board of Directors of bad news regarding the state of affairs of a company diminishes any conflict of interest that may exist between the Board and the auditor. However, no evidence was found to justify the fear for a self?fulfilling prophecy effect.

Download or read book Presentation of Financial Statements written by International Accounting Standards Committee and published by . This book was released on 1997 with total page 58 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Corporate Governance in Japan written by Masahiko Aoki and published by OUP Oxford. This book was released on 2007-09-06 with total page 480 pages. Available in PDF, EPUB and Kindle. Book excerpt: Debates regarding corporate governance have become increasingly important in Japan as the post-war model of bank-based, stakeholder-oriented corporate governance faces the new pressures associated with globalization and growing investor demands for shareholder value. Bringing together a group of leading scholars from economics, law, sociology and management studies, this book looks at how the Japanese approach to corporate governance and the firm have changed in the post-bubble era. The contributions offer a unique empirical exploration of why and how Japanese firms are reshaping their corporate governance arrangements, leading to greater diversity among firms and new 'hybrid' forms of corporate governance. The book concludes by looking at what effect these incremental but transformative changes may have on Japan's distinctive variety of capitalism.