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Materiality Judgments and the Resolution of Detected Misstatements: The Role of Managers, Auditors, and Audit Committees

The Accounting review, 2012-09, Vol.87 (5), p.1641-1677 [Peer Reviewed Journal]

2012 American Accounting Association ;Copyright American Accounting Association Sep 2012 ;ISSN: 0001-4826 ;EISSN: 1558-7967 ;DOI: 10.2308/accr-50185 ;CODEN: ACRVAS

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Title:
Materiality Judgments and the Resolution of Detected Misstatements: The Role of Managers, Auditors, and Audit Committees
Author: Keune, Marsha B. ; Johnstone, Karla M.
Subjects: Analytical forecasting ; Audit committees ; Audit offices ; Auditing ; Auditors ; Audits ; Business accounting ; Business audits ; Committees ; Earnings forecasting ; Experts ; Fees ; Financial audits ; Financial incentives ; Financial restatements ; Forecasting models ; Management audits ; Managers ; Materiality ; Materials management ; Modeling ; Studies ; U.S.A
Is Part Of: The Accounting review, 2012-09, Vol.87 (5), p.1641-1677
Description: This study Investigates how manager and auditor incentives, along with audit committee characteristics, are associated with materiality judgments about detected misstatements. Using data on detected misstatements that occurred between 2003 and 2006, we find auditors' incentives to protect their reputations weaken the effect of managerial incentives associated with the pressure created by analyst following; auditors are less likely to allow managers to waive material misstatements as audit fees increase. Regarding audit committee characteristics, results reveal that audit committees with greater financial expertise are less likely to allow managers to waive material misstatements compared to audit committees with less expertise.
Publisher: Sarasota: American Accounting Association
Language: English
Identifier: ISSN: 0001-4826
EISSN: 1558-7967
DOI: 10.2308/accr-50185
CODEN: ACRVAS
Source: ProQuest Central

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Materiality Judgments and the Resolution of Detected Misstatements: The Role of Managers, Auditors, and Audit Committees

2012 American Accounting Association ;Copyright American Accounting Association Sep 2012 ;ISSN: 0001-4826 ;EISSN: 1558-7967 ;DOI: 10.2308/accr-50185 ;CODEN: ACRVAS

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