Please use this identifier to cite or link to this item:
https://hdl.handle.net/2440/100931
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Type: | Journal article |
Title: | Does recent academic research support changes to audit reporting standards? |
Author: | Bédard, J. Coram, P. Espahbodi, R. Mock, T. |
Citation: | Accounting Horizons, 2016; 30(2):255-275 |
Publisher: | American Accounting Association |
Issue Date: | 2016 |
ISSN: | 0888-7993 1558-7975 |
Statement of Responsibility: | Jean Bédard, Paul Coram, Reza Espahbodi , Theodore J. Mock |
Abstract: | The Public Company Accounting Oversight Board (PCAOB) and the International Auditing and Assurance Standards Board (IAASB) have each proposed a standard that could significantly change the independent auditor’s report. Both proposed standards would require the auditor to make additional disclosures intended to close possible information and communication gaps and, in general, improve the relevancy of the auditor’s report. Clearly, changes to the auditor’s report could have significant consequences to financial market participants and other stakeholders. We review prior academic research related to the PCAOB and IAASB proposed standards with the intent of assessing the extent to which prior research provides sufficient, competent evidence for standard setters in their assessments of whether the proposed changes are likely to close the communication and information gaps. While significant research exists in many areas, we identify many areas where there seems to be a lack of sufficient research evidence. These results should interest standard setters as they consider fundamental changes to the auditor’s report and also as they consider ways of stimulating future relevant academic research. Additionally, our summaries that indicate limited research or inconsistent results should help academics identify important opportunities for future research to provide relevant research for the standard setting process and other essential avenues of future research. |
Keywords: | audit reporting model; audit report; auditing; information gap |
Rights: | © 2016 American Accounting Association. All rights reserved. |
DOI: | 10.2308/acch-51397 |
Published version: | http://dx.doi.org/10.2308/acch-51397 |
Appears in Collections: | Aurora harvest 7 Business School publications |
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RA_hdl_100931.pdf Restricted Access | Restricted Access | 189.31 kB | Adobe PDF | View/Open |
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