{"title":"Abolition of mandated joint-audit requirements: Impact on audit reporting lag in an emerging capital market","authors":"J.-L. W. Mitchell Van der Zahn","doi":"10.1111/ijau.12300","DOIUrl":null,"url":null,"abstract":"<p>The study aims to examine how changes in the Kuwait audit market following abolition of mandated joint-audit requirements impact audit reporting lag. Analysis tests whether joint-/solo-audit switches (following abolition mandated requirements) affected the <i>level</i> and <i>change</i> in audit reporting lag. The study also tests if the joint-audit pair combination is a decisive factor in determining the (a) <i>level</i> and <i>change</i> in audit reporting lag and (b) audit quality following a switch to a solo-audit. Data is collected from 132 Kuwait-incorporated, nonfinancial firms listed continuously on the Boursa Kuwait from 2015 to 2019 that provides 660 firm-year observations (528 firm-years main empirical tests). Analysis indicates that the following abolition of mandated joint-audit requirements, Kuwait listed firms swiftly switched to solo-audits, generally leading to a significant increase in audit reporting lag. Tests indicate that audit reporting lag was significantly less for joint-audits relative to solo-audits. Additional results show a significant negative association between the quality of joint-audit pair combinations and audit reporting lag. However, there is no significant association between audit reporting lag and the quality of solo-audit type. Test results indicate mixed support for the perception that a joint-audit pair combination significantly influences the <i>level</i> and <i>change</i> in audit reporting lag following the switch to a specific solo-audit type.</p>","PeriodicalId":47092,"journal":{"name":"International Journal of Auditing","volume":null,"pages":null},"PeriodicalIF":2.1000,"publicationDate":"2022-12-28","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"1","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"International Journal of Auditing","FirstCategoryId":"91","ListUrlMain":"https://onlinelibrary.wiley.com/doi/10.1111/ijau.12300","RegionNum":4,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q2","JCRName":"BUSINESS, FINANCE","Score":null,"Total":0}
引用次数: 1
Abstract
The study aims to examine how changes in the Kuwait audit market following abolition of mandated joint-audit requirements impact audit reporting lag. Analysis tests whether joint-/solo-audit switches (following abolition mandated requirements) affected the level and change in audit reporting lag. The study also tests if the joint-audit pair combination is a decisive factor in determining the (a) level and change in audit reporting lag and (b) audit quality following a switch to a solo-audit. Data is collected from 132 Kuwait-incorporated, nonfinancial firms listed continuously on the Boursa Kuwait from 2015 to 2019 that provides 660 firm-year observations (528 firm-years main empirical tests). Analysis indicates that the following abolition of mandated joint-audit requirements, Kuwait listed firms swiftly switched to solo-audits, generally leading to a significant increase in audit reporting lag. Tests indicate that audit reporting lag was significantly less for joint-audits relative to solo-audits. Additional results show a significant negative association between the quality of joint-audit pair combinations and audit reporting lag. However, there is no significant association between audit reporting lag and the quality of solo-audit type. Test results indicate mixed support for the perception that a joint-audit pair combination significantly influences the level and change in audit reporting lag following the switch to a specific solo-audit type.
期刊介绍：
In addition to communicating the results of original auditing research, the International Journal of Auditing also aims to advance knowledge in auditing by publishing critiques, thought leadership papers and literature reviews on specific aspects of auditing. The journal seeks to publish articles that have international appeal either due to the topic transcending national frontiers or due to the clear potential for readers to apply the results or ideas in their local environments. While articles must be methodologically and theoretically sound, any research orientation is acceptable. This means that papers may have an analytical and statistical, behavioural, economic and financial (including agency), sociological, critical, or historical basis. The editors consider articles for publication which fit into one or more of the following subject categories: • Financial statement audits • Public sector/governmental auditing • Internal auditing • Audit education and methods of teaching auditing (including case studies) • Audit aspects of corporate governance, including audit committees • Audit quality • Audit fees and related issues • Environmental, social and sustainability audits • Audit related ethical issues • Audit regulation • Independence issues • Legal liability and other legal issues • Auditing history • New and emerging audit and assurance issues
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