Determinanty zastrzeżeń w opinii biegłego rewidenta z badania sprawozdania finansowego

Anna Maria Włodarczyk; Anna Agnieszka Białek-Jaworska

doi:10.18778/0208-6018.338.10

Authors

Anna Maria Włodarczyk Faculty of Economic Sciences University of Warsaw
Anna Agnieszka Białek-Jaworska Faculty of Economic Sciences University of Warsaw, Department of Banking, Finance and Accounting

DOI:

https://doi.org/10.18778/0208-6018.338.10

Keywords:

financial audit, audit opinion, capital market, IFRS

Abstract

The article aims to identify the determinants of obtaining other than qualified audit opinion by public companies listed on the Warsaw Stock Exchange, based on an analysis of financial statements prepared in accordance with International Financial Reporting Standards (IFRS) and determining signs of their impact on the probability of receiving such an opinion. The empirical research on the role of an audit opinion in the protection of funds provider’s interests was conducted with the use of logit model on panel data containing 980 observations of 245 companies in the period of 2010–2013. The results indicate that following factors have significant impact on firms obtaining audit opinion which is other than qualified: liquidity, debt, corporate governance approximated by share of major shareholders in company’s equity, viability, firm size and risk of a company’s default. The stronger the corporate governance (higher share of major shareholders in the company’s equity) the lower the probability for the company of obtaining the audit opinion which is other than qualified. The results obtained in the research may be considered as original contribution to the literature. The research does not confirm any significant linkage between the quality of service provided by auditors (approximated by the reputation and the size of the audit company belonging to the Big 4) and the probability of obtaining the audit opinion which is other than qualified.

Downloads

Download data is not yet available.

Author Biographies

Anna Maria Włodarczyk, Faculty of Economic Sciences University of Warsaw

Master diploma since April, 24, 2018

Anna Agnieszka Białek-Jaworska, Faculty of Economic Sciences University of Warsaw, Department of Banking, Finance and Accounting

Doctor of Economic Sciences since 2006; Promoter of 84 dimploma theses, including mainly master theses and a few bachelor theses

References

Brzeska A. (2016), Rewizja finansowa w świetle praktyki polskiego rynku kapitałowego, Wydawnictwo SIZ, Łódź.
Google Scholar

Cary D., Barker R. (1998), The Relationship between financial statement ratios and auditor’s opinions, „Proceedings of the Academy of Accounting and Financial Studies”, t. 3, nr 2, s. 94–96.
Google Scholar

Chan K.H., Lin K.Z., Mo P.L.L. (2006), A political‑economic analysis of auditor reporting and auditor switches, „Review of Accounting Studies”, t. 11, nr 1, s. 21–48.
Google Scholar

Doumpos M., Gaganis Ch., Pasiouras F. (2005), Explaining qualifications in audit reports using a support vector machine methodology, „Intelligent Systems in Accounting, Finance & Management”, t. 13, nr 4, s. 197–215.
Google Scholar

Gaganis C., Pasiouras F. (2007), A multivariate analysis of the determinants of auditors opinions on Asian banks, „Managerial Auditing Journal”, t. 22, nr 3, s. 268–287.
Google Scholar

Garcia Blandon J., Argiles Bosch J.M. (2013a), Audit tenure and audit Qualifications in a low litigation risk setting: An analysis of the Spanish market, „Estudios de Economía”, t. 40, nr 2, s. 133–156.
Google Scholar

Garcia Blandon J., Argiles Bosch J.M. (2013b), Audit tenure and qualified opinions: New Evidence from Spain, „Spanish Accounting Review”, t. 16, nr 2, s. 118–125.
Google Scholar

Ireland J. (2003), An empirical investigation of determinants of audit reports in the UK, „Journal of Business Finance & Accounting”, t. 30, nr 7/8, s. 975–1015.
Google Scholar

Johl S., Jubb C.A., Houghton K. (2007), Earnings Management and the Audit Opinion: Evidence from Malaysia, „Managerial Auditing Journal”, t. 22, nr 7, s. 688–715.
Google Scholar

Krzywda D. (2012), Rola audytu finansowego w działalności przedsiębiorstw i instytucji, [w:] H. Żukowska, W. Janik (red.), Audyt zewnętrzny sprawozdania finansowego a wiarygodność przedsiębiorstwa, Wydawnictwo KUL, Lublin.
Google Scholar

Lucas R.E. Jr (1972), Expectations and the Neutrality of Money, „Journal of Economic Theory”, t. 4, nr 2, s. 103–124.
Google Scholar

Lucas R.E., Sargent T.J. (1981), Rational Expectations and Econometric Practice, Allen and Unwin, London.
Google Scholar

Muth J.F. (1961), Rational Expectations and the Theory of Price Movements, „Econometrica”, t. 29, nr 3, s. 315–335.
Google Scholar

Olchowicz I., Tłaczała A. (2015), Sprawozdawczość finansowa według krajowych i międzynarodowych standardów, Wydawnictwo Difin, Warszawa.
Google Scholar

Ruiz‑Bardadillo E., Gomez‑Aguilar N., De Fuentes‑Barbera C., Garcia‑Benau M. (2004), Audit quality and the going‑concern decision‑making process: Spanish evidence, „European Accounting Review”, t. 13, nr 4, s. 597–620.
Google Scholar

Sánchez Ballesta J.P., Garcia‑Meca E. (2005), Audit qualifications and corporate governance in Spanish listed firms, „Managerial Auditing Journal”, t. 20, nr 7, s. 725–738.
Google Scholar

Sargent T.J., Wallace N. (1971), Market Transaction Costs, Asset Demand Functions, and the Relative Potency of Monetary and Fiscal Policy, „Journal of Money, Credit and Banking”, t. 3, nr 2, s. 469–505.
Google Scholar

Simon H.A. (1995), A behavioral Model of Rational Choice, „Quarterly Journal of Economics”, t. 69, nr 1, s. 99–118.
Google Scholar

Spathis Ch. (2002), Detecting false financial statements using published data: evidence from Greece, „Managerial Auditing Journal”, t. 17, nr 4, s. 179–191.
Google Scholar

Spathis Ch. (2003), Audit qualification, firm litigation and financial information: an empirical analysis in Greece, „International Journal of Auditing”, t. 7, nr 1, s. 71–85.
Google Scholar

Spathis Ch., Doumpos M., Zopounidis C. (2002), Detecting falsified financial statements: a comparative study using multicriteria analysis and multivariate statistical techniques, „The European Accounting Review”, t. 11, nr 3, s. 509–535.
Google Scholar

Spathis Ch., Doumpos M., Zopounidis C. (2003), Using client performance measures to identify pre‑engagement factors associated with qualified audit reports in Greece, „The International Journal of Accounting”, t. 38, s. 267–284.
Google Scholar

Szapiro T. (1993), Co decyduje o decyzji, Wydawnictwo Naukowe PWN, Warszawa.
Google Scholar

Ustawa z dnia 29 września 1994 r. o rachunkowości (t.j. Dz.U. z 2016 r. Nr 2016.0.1047).
Google Scholar

Ustawa z dnia 15 września 2000 r. Kodeks spółek handlowych (Dz.U. z 2000 r. Nr 94, poz. 1037).
Google Scholar

Węgrzyńska M. (2011), Wiarygodność sprawozdania finansowego a rewizja finansowa, [w:] B. Micherda (red.), Sprawozdawczość i rewizja finansowa. Kierunki zmian, Wydawnictwo Uniwersytetu Ekonomicznego w Krakowie, Kraków.
Google Scholar

Yaşar A., Yakut E., Gutnu M.M. (2015), Predicting Qualified Audit Opinions Using Financial Ratios: Evidence from the Istanbul Stock Exchange, „International Journal of Business and Social Science”, t. 6, issue 8, nr 1, s. 57–67.
Google Scholar