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The Relationship between Shared Audit Opinions and the Audit Quality of Group Enterprises’ Financial Statements – Based on the Audit Adjustment

Tai Da Guan Li Lun Cong, 2020-08, Vol.30 (2), p.37 [Peer Reviewed Journal]

Copyright National Taiwan University Press, NTU College of Management Aug 2020 ;ISSN: 1018-1601 ;EISSN: 2410-2490 ;DOI: 10.6226/NTUMR.202008_30(2).0002

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  • Title:
    The Relationship between Shared Audit Opinions and the Audit Quality of Group Enterprises’ Financial Statements – Based on the Audit Adjustment
  • Author: Jan-Zan, Lee ; Hsin-Chi, Chen ; Tsung-Yi Tsai ; 李建然 ; 陳信吉 ; 蔡宗益
  • Subjects: Accounting firms ; Audit quality ; Audited financial statements ; Auditing standards ; Auditors opinions ; Auditors reports
  • Is Part Of: Tai Da Guan Li Lun Cong, 2020-08, Vol.30 (2), p.37
  • Description: The Taiwan Statements of Auditing Standards No. 54 “Special Consideration – Audits of Group Financial Statements” severely restricts the shared-opinion audit reports on group financial statements. The restriction implies that engaging with the same audit firm in the group company can result in better audit quality for the group financial statements. To evaluate the argument of this restriction, this study examines whether group companies with component firms in Taiwan have higher audit quality when engaging with the same audit firm than those engaging with different audit firms. Using audit adjustment as a proxy for audit quality, this study finds that group companies with component firms engaging with different audit firms have higher audit adjustment (better audit quality), especially when a greater proportion of group assets are audited by other audit firms. The results indicate that engaging with the same audit firm in the group company may impair auditor independence and increase the auditor’s economic dependence on the group company.
  • Publisher: Taiwan: National Taiwan University Press, NTU College of Management
  • Language: English
  • Identifier: ISSN: 1018-1601
    EISSN: 2410-2490
    DOI: 10.6226/NTUMR.202008_30(2).0002
  • Source: AUTh Library subscriptions: ProQuest Central
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