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این مقاله علمی پژوهشی (ISI) به زبان انگلیسی از نشریه الزویر مربوط به سال ۲۰۲۱ دارای ۱۹ صفحه انگلیسی با فرمت PDF می باشد در ادامه این صفحه لینک دانلود رایگان مقاله انگلیسی و بخشی از ترجمه فارسی مقاله موجود می باشد.
کد محصول: H689
سال نشر: ۲۰۲۱
نام ناشر (پایگاه داده): الزویر
نام مجله: The British Accounting Review
نوع مقاله: علمی پژوهشی (Research articles)
تعداد صفحه انگلیسی: ۱۹ صفحه PDF
عنوان کامل فارسی:
مقاله انگلیسی ۲۰۲۱ : انتصاب حسابدار گزارشگر و تجدید نظر حسابداری: شواهدی از شرکت های خصوصی انگلستان
عنوان کامل انگلیسی:
Reporting accountant appointments and accounting restatements: Evidence from UK private companies
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Abstract
In recent years, regulators have exempted an increasing number of companies from the requirement to appoint auditors, yet little is known about the role of the accounting profession in preparing and validating the financial statements of unaudited companies. In this paper, we examine empirically the factors associated with the appointment of reporting accountants. We then provide novel evidence on whether unaudited UK small private companies are less likely to restate their annual accounts when they have been prepared by an external accountancy firm (i.e., a reporting accountant). Based on a cross sectional analysis of a large sample of small private unaudited UK companies, we find that, in accordance with the ‘confirmation hypothesis’, larger companies that voluntarily disclose more financial information are more likely to appoint a reporting accountant. We also find that the accounts of companies with a reporting accountant are significantly less likely to be restated than those without. This result is more pronounced for companies disclosing more financial information and for those employing a larger accounting firm. Given the dwindling number of private companies opting for audits, our findings contribute to debates on the role of the accounting profession in enhancing private company financial reporting quality
Keywords: Reporting accountants, Accounting restatements, Disclosure, Private companies
۱.Introduction and background
The extent to which private companies are exempt from the obligation to publish audited financial statements is a major accounting policy issue (e.g., ICAEW, 2015; BEIS, 2017; Breuer, 2018). The main dilemma regulators face is to balance the information needs of outside stakeholders conducting business with a limited liability company, with the direct and indirect costs to small, closely held, private companies of the preparation, disclosure and audit of accounting information. Over time, regulators have progressively increased the size thresholds that allow UK and EU private companies to claim exemption from external audit, such that companies filing unaudited financial statements now dominate the small company sector. For instance, 486,600 British companies filed audit exempt accounts at Companies House (CH, the UK regulator) in 2002, whereas 1,713,000 did so in 2014 (CH, 2003; CH, 2014). This has led audit professionals and credit ratings agencies to express concern about the implications for unaudited firms’ financial reporting quality (Dedman & Kausar, 2012). However, audit is not the only option available to small private companies. They may opt to appoint an external accountant to prepare and report on their statutory annual financial statements. This offers a lower level of assurance than a full audit, but comes at a lower cost (Stewart, 2017)…
۶.Conclusion
Prior research into the effects of assurance on accounting in private companies has principally focused on the effects of voluntary audit on companies filing full accounts. The substantial increase in company size thresholds over recent years has lifted a large number of firms out of the mandatory audit regime, such that the sector is now predominantly audit-free. Despite this, the involvement of the accounting profession in preparing financial statements for the vast majority of small companies who file unaudited accounts remains largely unexplored…
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