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Qualitative Perspective of Audit Materiality: Empirical Evidence in Mexico and Colombia
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作者 Sergio Ivan Ramirez Cacho Martin Alvarez Ochoa Maricela Ramirez 《Chinese Business Review》 2012年第10期864-872,共9页
Our contribution analyzes the process of convergence with the International Standards of Audit (ISAs), particularly those that regulate the concept of materiality in Mexico and Colombia. Between other results, acros... Our contribution analyzes the process of convergence with the International Standards of Audit (ISAs), particularly those that regulate the concept of materiality in Mexico and Colombia. Between other results, across a survey, it is demonstrated why the effective use of the factors that emerge of his qualitative slope can favor the quality of the financial information that publish the audited companies, the usefulness and the comprehensibility of the report of opinion. In general, the reliability, transparency, and relevancy of the financial statements will meet potentially favored with the strict application of these major and better normative instruments. 展开更多
关键词 qualitative perspective materiality financial statements audit materiality International Federation ofAccountants (IFAC)
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Is audit materiality informative?Evidence from China
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作者 Lei Zhu Qianwen Zheng Yubin Li 《China Journal of Accounting Research》 2024年第3期120-137,共18页
To improve the usefulness of audit opinions,on 23 March 2021,the China Securities Regulatory Commission mandated that auditors disclose overall quantitative materiality of consolidated financial statements in special ... To improve the usefulness of audit opinions,on 23 March 2021,the China Securities Regulatory Commission mandated that auditors disclose overall quantitative materiality of consolidated financial statements in special explanations of modified audit opinions.This paper selects Chinese A-share companies issued with modified audit opinions for the period of 2020-2022 as the research sample and analyzes the assessment of materiality in audit practice and the informativeness of audit materiality.Our findings are as follows.(1)The most commonly used bases for materiality by auditors are profit and income,with considerable differences in the percentages applied to the different bases and variations even within the same base.(2)The higher the materiality amount,the poorer the audit quality.This negative correlation is mainly observed in scenarios where the audited companies engage in downward earnings management and where the competency of audit firms or auditors is relatively low.(3)Companies that disclose quantitative materiality in the special explanations of modified audit opinions have a lower earnings response coefficient than companies that do not disclose audit materiality.This research sheds light on the“black box”of the audit process and verifies the information value of audit materiality.The conclusions are of significant value to auditing standard-setters,investors and regulators. 展开更多
关键词 audit materiality audit Quality auditor Competence Investors’Decision-Making
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