Audit report is the primary means of communication for auditors. To reduce the phenomenon of agency conflict, auditors work as agents for shareholders and report to them after reviewing the financial statements. In la...Audit report is the primary means of communication for auditors. To reduce the phenomenon of agency conflict, auditors work as agents for shareholders and report to them after reviewing the financial statements. In last 15 years, Australia has witnessed some major changes in Australian economy which have affected Australian business and its auditors＇ opinions. This paper examines the trend of audit opinions issued to Australian listed companies during this period. In total, 20,473 audit opinions were sited over the 15-year period, i.e., from 1996 to 2010. This research found that over the period, unqualified report was the most common type of audit reports issued in Australia with an average of 96.4%. The average rate at which the Big 4 audit firms issue unqualified reports is 88% compared with 76% issued by the non-Big 4 firms. It is also evidenced that the rate at which modified reports were issued during and after global financial crisis （GFC） （2007-2009） has increased across all industries, while the most noticeable increase occurred in the financial services, materials, and industrial sectors.展开更多
文摘Audit report is the primary means of communication for auditors. To reduce the phenomenon of agency conflict, auditors work as agents for shareholders and report to them after reviewing the financial statements. In last 15 years, Australia has witnessed some major changes in Australian economy which have affected Australian business and its auditors＇ opinions. This paper examines the trend of audit opinions issued to Australian listed companies during this period. In total, 20,473 audit opinions were sited over the 15-year period, i.e., from 1996 to 2010. This research found that over the period, unqualified report was the most common type of audit reports issued in Australia with an average of 96.4%. The average rate at which the Big 4 audit firms issue unqualified reports is 88% compared with 76% issued by the non-Big 4 firms. It is also evidenced that the rate at which modified reports were issued during and after global financial crisis （GFC） （2007-2009） has increased across all industries, while the most noticeable increase occurred in the financial services, materials, and industrial sectors.
