The unintended consequences of PCAOB auditing Standard Nos. 2 and 3 on the reliability of preliminary earnings releases

被引：79

作者：

Bronson, Scott N. ^{[1
]}

Hogan, Chris E. ^{[2
]}

Johnson, Marilyn F. ^{[2
]}

Ramesh, K. ^{[3
]}

机构：

[1] Univ Kansas, Sch Business, Lawrence, KS 66045 USA

[2] Michigan State Univ, Eli Broad Grad Sch Management, E Lansing, MI 48824 USA

[3] Rice Univ, Jesse H Jones Grad Sch Business, Houston, TX 77005 USA

来源：

JOURNAL OF ACCOUNTING & ECONOMICS | 2011年 / 51卷 / 1-2期

关键词：

Audit report lag; Audit report date; Audit regulation; Earnings announcement date; Preliminary earnings reliability; Unintended consequences; QUARTERLY EARNINGS; COMPENSATION CONTRACTS; VOLUNTARY DISCLOSURE; MARKET REACTIONS; CAPITAL-MARKETS; VALUE-RELEVANCE; REPORT LAG; ANNOUNCEMENTS; INFORMATION; QUALITY;

D O I：

10.1016/j.jacceco.2010.06.002

中图分类号：

F8 [财政、金融];

学科分类号：

0202 ;

摘要：

Implementation of Public Company Accounting Oversight Board Auditing Standards No. 2 on internal control and No. 3 on documentation has delayed audit completion. However, due to market demand for timely disclosures, most firms maintain the same preliminary earnings release date even though the audit may not be complete as of that date. Results indicate revisions to preliminary announcements when filing the 10-K report would have been 35% lower during 2005 if the historical frequency of issuing earnings releases after the audit report date had not changed. Additionally, stock market reaction to impending revisions suggests lower reliability of preliminary earnings. (C) 2010 Elsevier B.V. All rights reserved.

引用

页码：95 / 114

页数：20

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