Publication: Contenido del informe de auditoría en el año previo a la declaración del concurso de acreedores. Contraste empírico para el caso español
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2017
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Taylor & Francis
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Abstract
Este trabajo analiza empíricamente el contenidodel informede auditoría de empresas concursadas correspondiente al año anterior al concurso de acreedores, con un doble objetivo: proponer unaclasificación de dicho contenido y estudiarla existencia de diferencias en los informes en función de características del auditor y de la firma auditada. Utilizando una muestra de deudores españoles concursados en el período 2004-2014, los resultados revelan que el 13% de los informes son limpioso no incluyen ningún comentario del auditor, y que son más frecuentes las salvedades que los párrafos de énfasis. Un 23% de lasadvertencias emitidas informan sobre la declaración concursal y un 45% alertan sobre dudas a la gestión continuada. Asimismo, existen diferencias en función del tamaño del auditor, del sector y lasituación financierade la concursada, del trimestre en que se dicte el auto de declaración y de la resolución, mientras que el contenido esindependiente del cambio de auditor. Nuestros resultados avalan la utilidad del informe en el pronóstico del riesgo empresarial, utilidad que se verá incrementada con la nueva Ley de Auditoría de Cuentas y su requerimiento dehacer mención expresa del riesgo financiero en caso de dudas a la gestión continuada.
3This paper analyses empirically the contentofthe audit report of financially distressed firms in the year prior to bankruptcy filing, with a double purpose: to propose a classification of the contentof audit reportsand to examine the differences onthe documentdepending on several features of the auditor and the audited firm. Using a sample of Spanish financially distressed companies from 2004 to 2014, results show that 13% are cleanreports or reports that do not contain any disclosures, and qualifications are more frequent than matter paragraphs. 23% of paragraphs inform about filing for insolvency legal proceedings and 45% are related to going concern uncertainties. Additionally, there is evidence of significant differences in the contentof the audit reportdepending on auditorsize, industryandfinancial condition of the audited firm, the quarter on which the court order is imposed and the resolution of the bankruptcyprocedure, whereas comments are independent from a change in auditor. Our evidence suggests the usefulnessof the audit report in predicting financial distress risk, and this usefulnesswill be incremented due to the implementation of the new Audit Law inSpain, as it requires mentioning any financial risks when going concern uncertainties may exist.
3This paper analyses empirically the contentofthe audit report of financially distressed firms in the year prior to bankruptcy filing, with a double purpose: to propose a classification of the contentof audit reportsand to examine the differences onthe documentdepending on several features of the auditor and the audited firm. Using a sample of Spanish financially distressed companies from 2004 to 2014, results show that 13% are cleanreports or reports that do not contain any disclosures, and qualifications are more frequent than matter paragraphs. 23% of paragraphs inform about filing for insolvency legal proceedings and 45% are related to going concern uncertainties. Additionally, there is evidence of significant differences in the contentof the audit reportdepending on auditorsize, industryandfinancial condition of the audited firm, the quarter on which the court order is imposed and the resolution of the bankruptcyprocedure, whereas comments are independent from a change in auditor. Our evidence suggests the usefulnessof the audit report in predicting financial distress risk, and this usefulnesswill be incremented due to the implementation of the new Audit Law inSpain, as it requires mentioning any financial risks when going concern uncertainties may exist.