The Impact of Auditor Conservatism and the Uncertainty of Economic Policies on Profit Quality
Subject Areas :بهزاد قربانی 1 , فرزانه پورطاهر اقدم 2 , فریدون رهنما رودپشتی 3
1 - گروه حسابداری، واحد خدابنده،دانشگاه آزاداسلامی،خدابنده،ایران
2 - گروه حسابداری،واحدخدابنده،دانشگاه آزاداسلامی،خدابنده،ایران
3 - گروه حسابداری،واحد علوم وتحقیقات، دانشگاه آزاد اسلامی ، تهران، ایران
Keywords: earnings quality, Uncertainty of economic policies, Keywords: Auditor Conservatism, Ranking of the Audit Institutions,
Abstract :
Abstract This research examines the effect of auditors conservatism on Earnings Quality despite the uncertainty of economic policies in listed companies in Tehran Stock Exchange. .Conservatism of auditors was calculated and evaluated using the model of Chong et al. (2003). (Auditor Conservatism based on Basu's model (1997) and the use of the ranking of the audit institutions in accordance with the classification guidelines of the audit institutions and entities subject to Article 10 of the Trusteeship Audit Institutions Code of the Stock Exchange). Jones' modified model (1995) used to measure the earnings quality. In this regard, 150 companies from listed companies were selected for systematic elimination during 2013-2019. The research regression model was tested and tested using static effects approach using panel data . The results of the research hypothesis test showed that auditor conservatism has a positive effect and economic policy uncertainty has a negative effect on profit quality. In other words, the conservatism of auditors leads to an increase in the quality of profits and the uncertainty of economic policies leads to a decrease in the quality of corporate profits.
فهرست منابع
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AhmedAl-Hadi, GrantleyTaylor, MahmudHossain, (2016), “Disaggregation, Auditor Conservatism and Implied Cost of Equity Capital: An International Evidence from the GCC”, Journal of Multinational Financial Management, Vol. 29, PP. 66-98.
Anthony Persakis, George Emmanuel Iatridis. (2015), “Cost of Capital, Audit and Earnings Quality under Financial Crisis: A Global Empirical Investigation”, Journal of International Financial Markets, Institutions & Money, PP. 3-24.
Ball, Ray and Shivakumar, Lakshmanan, (2008), “How Much New Information is There in Earnings?”, Journal of Accounting Research, Vol. 46, Available at SSRN:https://ssrn.com/abstract=1105228.
Basu, S., (1997), "The Conservatism Principle and the Asymmetric Timeliness of Earnings", Journal of Accounting and Economics 24(1), PP. 3-37.
Beatty, A., J. Webber and J. Yu, (2008), “Conservatism and Debt”, Journal of Accounting and Economics, 45 (2-3), PP. 157-174.
Chen, C. Y., C. J. Lin., and Y. C. Lin. (2004), "Audit Partner Tenure, Audit Firm Tenure and Discretionary Accruals; Does Long Auditor Tenure Impair Earning Quality?", Working Paper, Hong Kong University of Science and Technology.
Chung, R., Firth, M., and Kim, J. (2003), “Auditor Conservatism and Reported Earnings”, Accounting and Business Research. 33, PP. 19–22.
Dechow P.M., R.G.Sloan, A.P.Sweeney, (1995), “Detecting of Earnings Management”, Journal of Accounting Review, Vol. 70, No. 2, PP. 193-225.
Dichev, I., Skinner, D., (2002), "Large Sample Evidence on the Debt Covenant Hypothesis", Journal of Accounting Research 40, PP. 1091-1123.
Feltham, G. A. and Ohlson, J. A, (1995), “Valuation and Clean Surplus Accounting for Operating and Financial Activities”, Contemporary Accounting Research, 11 (2), PP. 689-731.
Givoly, D. and Hayn, C. (2000), ‘The Changing Time-series Properties of Earnings, Cash Flows and Accruals: Has Financial Reporting Become more Conservative?”, Journal of Accounting and Economics, 29, PP. 287-320.
Gujarati, N. D. (1995), “Basic Econometrics”, 4th Edition, McGraw-Hill International Editions: Economic Series.
Hamilton, J., C. Ruddock, D. Stokes, and S. Taylor. (2005), "Audit Partner Rotation, Earnings Quality and Earnings Conservatism", Working Paper, University of Technology, Sydney, and University of New South Wales.
Jelinek. K. (2007), “The Effect of Leverage Increase on Earning Management”, Journal of Business and Economic Studies, 13, PP. 24-46.
Jones, J. (1991), "Earnings Management during Import Relief Investigation", Journal of Accounting Research, 29, PP. 193-228
Lee, PJ Taylor, SB Taylor, SL, (2006), “Auditor Conservatism and Audit Quality: Evidence from IPO Earnings Forecasts”, International Journal of Auditing, 10 (3), PP. 183 – 199.
Li, S., W. Beekes and K. Peasnell (2009), "Litigation Risk and auditor Conservatism: A UK-US Comparison", WP - Lancaster University Management School 2009/032.
Pei-Cheng Liao and Suresh Radha Krishna, (2016), “The Effects of the Auditor's Insurance Role on Reporting Conservatism and Audit Quality”, The Accounting Review, Vol. 91, No. 2, PP. 587-602.
Peter Vassallo, Stuart Taylor. (2015), “A Cash Flow Perspective on Auditor Conservatism”, Australian School of Business, University of New South Wales.
Peter Vassallo, Stuart Taylor. (2015), “A Cash Flow Perspective on Auditor Conservatism”, Australian School of Business, PP. 1-39.
Roychowdhury, S. and R. Watts. (2007), "Asymmetric Timeliness of Earnings, Market to Book and Conservatism in Financial Reporting", Journal of Accounting and Economics. Forthcoming.
Tariq,H.I&Rasha,M.E. (2011), “Do Conditional And Unconditional Conservatism Impact Earnings Quality And Stock Prices In Egypt?”, Research Journal Of Finance And Accounting, Vol. 2, No. 12, PP. 7-19.
Watts, RL., (2003), “Conservatism in Accounting Part i: Explanation and Iimplications”, Accounting Horisons, Vol. 17, PP. 207221.
