會計師產業專家、內部控制缺失與分析師預測特性

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Title:	會計師產業專家、內部控制缺失與分析師預測特性
Other Titles:	Auditor Expertise, Weaknesses in Internal Control and Properties of Analyst Earnings Forecasts
Authors:	張謙恆
Contributors:	淡江大學會計學系
Date:	2013-08
Issue Date:	2015-04-21 15:26:03 (UTC+8)
Abstract:	本研究檢視在內部控制具缺失時，產業專家會計師是否能降低財務分析師盈餘預測之錯誤度與離散度。本研究隱含內部控制資訊與產業專家具資訊內涵，皆能影響分析師所作之盈餘預測。由於分析師需要依靠財務報表作預測，若財務報表的資訊品質提升，其預測成果亦可提升。加以，過去文獻說明會計師累積愈多產業特定知識與經驗，愈有能力提供優良之審計品質。因此，產業專家熟稔各方財務資訊，能確保受查企業正確地報導財務現況，藉以提升資訊品質。然而，當企業存在內部控制缺失時，表示其所提供之財務資訊較不具可靠性，會使資訊品質下降。綜合以上因素，本研究欲證明產業專家在受查企業具內部控制缺失時，仍能提供較高審計品質，進而使分析師盈餘預測之錯誤度與離散度降低。並更進一步探討內部控制系統惡化之跨期效果，以瞭解產業專家之高審計品質在內部控制惡化時，是否仍能提升分析師之盈餘預測表現。本研究能幫助投資者瞭解內部控制缺失情形下，產業專家會計師仍可提供高審計品質。而財務分析師可依此決定對現有財務資訊的信賴程度與額外收集資料之程度。對會計師證明其建立產業專長之必要性。最後，主管機關可參考本研究以調整內部控制缺失揭露制度。 This paper examines whether auditor expertise provides high audit quality with the auditee reporting weaknesses in internal control. It implicates that both auditor expertise and weaknesses in internal control have information content and further affect analysts’ forecasts, which as a proxy for the capital markets' earnings expectation. Because the analyst uses historical earnings information in predicting firms' future earnings, the analysts' earnings forecast will be more accurate and concentrated if high quality of financial statement is improved. In addition, previous literature suggests that auditor expertise has rich industry-specific knowledge and experience and in turn improves the information quality of the auditee. The financial statement of companies reporting weaknesses in internal control is less credibility, as a result, the analysts' forecasting ability also decreases with the information quality of financial information they use to predict future earnings. This study combines above issues and attempts to prove that auditor expertise provides higher credibility of financial statement to the analyst even when the auditee with weaknesses in internal control. Moreover, this paper investigates the cross-period audit quality improvement made by auditor expertise after weaknesses in internal control were disclosed. This paper is useful to investors who use these earnings forecasts to value firms, as it suggests that the earnings expectations of firms that employ auditor expertise are likely to be more accurate and concentrate. Analysts can decide their reliabilities of existing financial statements and needs of extra information by assessing auditor expertise. For the auditor, this study suggests that auditor expertise needs to be developed. These results are also valuable to the regulator for evaluating the appropriateness of disclosure mechanism of internal control system.
Appears in Collections:	[Graduate Institute & Department of Accounting] Research Paper

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