Auditor Attestation under SOX Section 404 and Earnings Informativeness
Auditor Attestation under SOX Section 404 and Earnings Informativeness
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DOI：
10.2308/ajpt-50334
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发表时间：
2013-02
影响因子：
2.8
通讯作者：
Lucy Huajing Chen;Jayanth K. Krishnan;Heibatollah Sami;Haiyan Zhou
中科院分区：
文献类型：
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作者：
Lucy Huajing Chen;Jayanth K. Krishnan;Heibatollah Sami;Haiyan Zhou
总结：《萨班斯-奥克斯利法案》第404条要求管理者评估财务报告内部控制的有效性，并要求审计师对财务报告内部控制的有效性发表意见。决策者希望ICFR审计能够提高公司财务报表的可信度。先前的研究认为，审计特征，提高财务报告的可信度与更强的盈利回报协会。我们研究是否伴随着第一次第404条ICFR报告的收益与更高的信息性相比，在前一年的收益时，只有财务报表审计报告。我们对加速申报者的测试样本进行了分析，这些样本具有干净的ICFR报告和干净的先前302节披露。使用差异中的差异的方法，我们比较了测试样本的收益信息的变化与非加速申报人的控制样本。我们发现，盈余信息的…
SUMMARY: Section 404 of the Sarbanes-Oxley Act requires managers to assess, and their auditors to express an opinion on, the effectiveness of internal controls over financial reporting (ICFR). Policymakers expect the ICFR audits to enhance the credibility of firms' financial statements. Prior research argues that audit characteristics that enhance the credibility of financial reporting are associated with stronger earnings-return associations. We examine whether earnings accompanied by the first-time Section 404 ICFR reports were associated with higher informativeness compared with earnings in the prior year when only financial statement audit reports were available. We conduct our analysis for a test sample of accelerated filers with clean ICFR reports and clean previous Section 302 disclosures. Using a difference-in-differences approach, we compare the change in earnings informativeness for the test sample with that for a control sample of non-accelerated filers. We find that earnings informativeness fo...