Does recent academic research support changes to audit reporting standards?

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dc.contributor.authorBédard, J.
dc.contributor.authorCoram, P.
dc.contributor.authorEspahbodi, R.
dc.contributor.authorMock, T.
dc.date.issued2016
dc.description.abstractThe Public Company Accounting Oversight Board (PCAOB) and the International Auditing and Assurance Standards Board (IAASB) have each proposed a standard that could significantly change the independent auditor’s report. Both proposed standards would require the auditor to make additional disclosures intended to close possible information and communication gaps and, in general, improve the relevancy of the auditor’s report. Clearly, changes to the auditor’s report could have significant consequences to financial market participants and other stakeholders. We review prior academic research related to the PCAOB and IAASB proposed standards with the intent of assessing the extent to which prior research provides sufficient, competent evidence for standard setters in their assessments of whether the proposed changes are likely to close the communication and information gaps. While significant research exists in many areas, we identify many areas where there seems to be a lack of sufficient research evidence. These results should interest standard setters as they consider fundamental changes to the auditor’s report and also as they consider ways of stimulating future relevant academic research. Additionally, our summaries that indicate limited research or inconsistent results should help academics identify important opportunities for future research to provide relevant research for the standard setting process and other essential avenues of future research.
dc.description.statementofresponsibilityJean Bédard, Paul Coram, Reza Espahbodi , Theodore J. Mock
dc.identifier.citationAccounting Horizons, 2016; 30(2):255-275
dc.identifier.doi10.2308/acch-51397
dc.identifier.issn0888-7993
dc.identifier.issn1558-7975
dc.identifier.orcidCoram, P. [0000-0003-3942-1497]
dc.identifier.urihttp://hdl.handle.net/2440/100931
dc.language.isoen
dc.publisherAmerican Accounting Association
dc.rights© 2016 American Accounting Association. All rights reserved.
dc.source.urihttps://doi.org/10.2308/acch-51397
dc.subjectaudit reporting model; audit report; auditing; information gap
dc.titleDoes recent academic research support changes to audit reporting standards?
dc.typeJournal article
pubs.publication-statusPublished

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