Evidence of Regulatory Noncompliance with SEC Disclosure Rules on Auditor Changes
Evidence of Regulatory Noncompliance with SEC Disclosure Rules on Auditor Changes
复制标题
不遵守 SEC 关于审计师变更的披露规则的监管证据
DOI：
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发表时间：
1996
期刊：
影响因子：
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通讯作者：
Billy S. Soo
中科院分区：
文献类型：
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作者：
Kenneth B. Schwartz;Billy S. Soo
本文确定了广泛的不遵守美国证券交易委员会的规定，要求及时披露审计师的变化，并调查是否迟申报人和他们的审计师只是缺乏美国证券交易委员会的专业知识，或有其他原因，延迟报告审计师的变化。一些直接的证据支持一个特定的六大“质量”的差异提供。最值得注意的是，当涉及非六大审计师时，提交8-K表格的时间和迟交的频率显着增加。此外，1989年之后，SEC缩短了8-K表格的提交时间，AICPA要求审计师在发生变化时独立通知SEC，从而发现了更短的提交延迟和逐渐更高的合规率。我们还发现，晚申报者更有可能是较小的，财务困境，不太可能发行证券后，审计师的变化，这表明合规性是由能力以外的因素影响。
This paper identifies widespread noncompliance with SEC regulations requiring prompt disclosure of auditor changes and investigates whether late filers and their auditors simply lack SEC expertise or have other reasons to delay reporting the auditor change. Some direct evidence in support of a specific Big-6 "quality" differential is provided. Most notably, the time to file the Form 8-K and the frequency of late filings increase significantly when non-Big 6 auditors are involved. Additionally, shorter filing delays and gradually higher compliance rates are detected after 1989 when the SEC reduced the Form 8-K filing time and the AICPA instituted a requirement for auditors to notify the Commission independently when a change occurs. We also find that late filers are more likely to be smaller and financially distressed, and less likely to issue securities following the auditor change, suggesting that compliance is affected by factors other than competency.