ANÁLISE DA RELAÇÃO ENTRE AS CARACTERÍSTICAS QUALITATIVAS DA INFORMAÇÃO CONTÁBIL E O AUDIT DELAY

Authors

DOI:

https://doi.org/10.14392/ASAA.2019120306

Keywords:

Informação Contábil, Qualidade da auditoria, Audit Delay

Abstract

Informação contábil divulgada pode implicar na alocação de recursos no mercado, uma vez que os usuários utilizam essas informações no processo de tomada de decisão. Logo é necessário que tais informações sejam apresentadas com qualidade, para mais bem embasar os processos de decisão. Sendo assim, pesquisas que analisam qualidade da informação contábil tende a serem relevantes para o funciomanento desse mercado. Nesse contexto, o objetivo desse estudo foi analisar a relação entre as características qualitativas da informação contábil e o atraso na entrega das demonstrações financeiras padronizadas (DFPs), aspecto ainda não observado pela literatura nacional e internacional. Para isso, se observou as empresas brasileiras de capital aberto, no período trimestral de 2010 a 2017, via regressão múltipla com dados dispostos em painel, analisando as seguintes características qualitativas observadas: i) conservadorismo, via modelos de Basu (1997) e Ball e Shivakumar (2005); ii) persistência, considerando o modelo de Dechow e Scharnd (2004); iii) relevância, por meio dos modelos de Ohlson (1995) e Easton (1999); iv) tempestividade, via modelo de Lopes e Walker (2008). Os resultados indicaram que a informação de empresas com maior atraso na entrega das DFPs se apresentaram menos conservadora, menos relevante, menos tempestiva e menos persistente. Portanto, o estudo sinaliza aos usuários da informação contábil que maior atraso na entrega das DFPs indica que a informação contábil das empresas não apresenta as características qualitativas esperadas, aspecto que pode auxiliá-los em suas decisões de investimento.

Downloads

Download data is not yet available.

References

Abidin, S., & Ahmad-Zaluki, N. A. (2012). Auditor industry specialism and reporting timeliness. Procedia – Social and Behavioral Sciences, 65, 873-878. https://doi.org/10.1016/j.sbspro.2012.11.213

Ahmad, C., & Abidin, S. (2008). Audit Delay of Listed Companies: A Case of Malaysia. International Business Research, 1(4), 32-39. doi: 10.5539/ibr.v1n4p32

Ahmad, M., Mohamed, H., & Nelson, S. P. (2016). The association between industry specialist auditor and financial reporting timeliness – post MFRS period. Procedia – Social and Behavioral Sciences, 219, 55-62. https://doi.org/10.1016/j.sbspro.2016.04.036

Ahmed, A. S., & Duellman, S. (2007). Accounting conservatism and board of director characteristics: An empirical analysis. Journal of Accounting and Economics, 43(2-3), 411–437. https://doi.org/10.1016/j.jacceco.2007.01.005

Ahmed, A. S., Neel, M., & Wang, D. (2013). Does Mandatory Adoption of IFRS Improve Accounting Quality? Preliminary Evidence. Contemporary Accounting Research, 30(4), 1344–1372. https://doi.org/10.1111/j.1911-3846.2012.01193.x

Akerlof, G. A. (1970). The market for lemons: quality uncertainty and the market mechanism. Quarterly Journal of Economics, 84(3), 488-500.

Al-Ajmi, J. (2008). Audit and reporting delays: Evidence from an emerging market. Advances in Accounting, incorporating Advances in International Accounting, 24(2), 217–226. https://doi.org/10.1016/j.adiac.2008.08.002

Al-Sehali, M., & Spear, N. (2004). The decision relevance and timeliness of accounting earnings in Saudi Arabia. International Journal of Accounting, 39(2), 197−217. https://doi.org/10.1016/j.intacc.2004.02.004

Al-Thuneibat, A. A., Khamees, B. A., & Al-Fayoumi, N. A. (2008). The effect of qualified auditors’ opinions on share prices: evidence from Jordan. Managerial Auditing Journal, 23(1), 84-101. https://doi.org/10.1108/02686900810838182

Alkhatib, K., & Marji, Q. Audit reports timeliness: Empirical evidence from Jordan. Procedia - Social and Behavioral Sciences, v .62, p. 1342–1349, 2012.

Amran, N. A., & Manaf, K. B. A. (2014). Board independence and accounting conservatism in Malaysian companies. Procedia - Social and Behavioral Sciences, 164, 403 – 408. https://doi.org/10.1016/j.sbspro.2014.11.095

Antunes, G. A., Mendonça, M. M., Azevedo, F. B., & Alencar, R. C. (2008). Empresas estatais federais e empresas do novo mercado da Bovespa: um estudo comparativo acerca da qualidade da informação contábil utilizando dados em painel. In: VIII Congresso USP de Controladoria e Contabilidade, São Paulo.

Antunes, G. A., Teixeira, A. J. C., Costa, F. M., & Nossa, V. (2010). Efeitos da adesão aos níveis de governança da bolsa de valores de São Paulo na qualidade da informação contábil. Advances in Scientific and Applied Accounting, 3(1), 109-138.

Arruda, M. P., Vieira, C. A. M., Paulo, E., & Lucena, W. G. L. (2015). Análise do conservadorismo e persistência dos resultados contábeis das instituições financeiras brasileiras. Sociedade, Contabilidade e Gestão, 10(2), 23-35.

Balachandran, S., & Mohanram, P. (2011). Is the decline in the value relevance of accounting driven by increased conservatism? Review of Accounting Studies, 16(2), 272–301. https://doi.org/10.1007/s11142-010-9137-0

Ball, R., Kothari, S. P., & Robin, A. (2000). The effect of institutional factors on properties of accounting earnings: International evidence. Journal of Accounting and Economics, 29, 1−51. http://dx.doi.org/10.2139/ssrn.176989

Ball, R. J., & Shivakumar, L. (2005). Earnings quality in UK private firms: comparative loss recognition timeliness. Journal of Accounting and Economics, 39(1), 83-128. https://doi.org/10.1016/j.jacceco.2004.04.001

Barcellos, L. P., Júnior, J. V. C., & Laurence, L. C. (2014). Determinantes do Prazo de Divulgação das Demonstrações Contábeis das Companhias Não Financeiras Listadas na Bovespa. Revista de Contabilidade e Organizações, 8(20), 84-100. DOI: https://doi.org/10.11606/rco.v8i20.69265

Barth, M., Beaver, M. E., & Landsman, W. R. (2001). The relevance of the value relevance literature for financial accounting standard setting: another view. Journal of Accounting and Economics, 31(1-3), 77–104. https://doi.org/10.1016/S0165-4101(01)00019-2

Basu, S. (1997). The conservatism principle and the asymmetric timeliness of earnings. Journal of Accounting and Economics, 24(1), 3-37. https://doi.org/10.1016/S0165-4101(97)00014-1

Beekes, W., Pope, P. F., & Young, S. (2004). The link between earnings timeliness, earnings conservatism and board composition: Evidence from the UK. Corporate Governance: An International Review, 12, 47-51. https://doi.org/10.1111/j.1467-8683.2004.00342.x

Billet, M. T., Garfinkel, J. A., & Yu, M. (2017). The effect of asymmetric information on product market outcomes. Journal of Financial Economics, 123(2), 357-376. https://doi.org/10.1016/j.jfineco.2016.11.001

Bolton, P., & Scharfstein, D. (1990). A theory of predation based on agency problems in financial contracting. American Economic Review, 80(1), 93–106.

Bonsón-Ponte, E., Escobar-Rodríguez, T., & Borrero-Domínguez, C. (2008). Empirical analysis of delays in the signing of auditing reports in Spain. International Journal of Auditing, 12, 129-140. https://doi.org/10.1111/j.1099-1123.2008.00375.x

Brown, W. D., He, H., & Teitel, K. (2007). Conditional Conservatism and the Value Relevance of Accounting Earnings: An International Study. European Accounting Review, 15(4), 605-626. https://doi.org/10.1080/09638180601102198

Brown, S., Lo, K., & Lys, T. (1999). Use of R2 in accounting research: measuring changes in value relevance over the last four decades. Journal of Accounting and Economics, 28(2), 83-115. https://doi.org/10.1016/S0165-4101(99)00023-3

Chandler, R.A. (1997). Taking responsibility: the early demand for institutional action to define an auditor’s duties. International Journal of Auditing, 1(3), 165-74. doi: 10.1111/1099-1123.00021

Chi, W., Liu, C., & Wang, T. (2009). What affects accounting conservatism: A corporate governance perspective. Journal of Contemporary Accounting and Economics, 5(1), 47–59. https://doi.org/10.1016/j.jcae.2009.06.001

Coelho, A. C., & Lima, I. S. (2007). Qualidade informacional e conservadorismo nos resultados contábeis publicados no Brasil. Revista de Contabilidade e Finanças, 18(45), 38 - 49. http://dx.doi.org/10.1590/S1519-70772007000400004

Costa, F. M., Lopes, A. B., & Costa, A. C. O. (2005). Conservadorismo em Cinco Países da América do Sul. Revista de Contabilidade e Finanças, 17(41), 7 – 20. http://dx.doi.org/10.1590/S1519-70772006000200002

Cutillas-Gomariz, M. F., Sánchez-Ballesta, J. P., & Yagüe, J. (2016). The Effects of IFRS on Net Income and Earnings Components: Value Relevance, Persistence and Predictive Value. Spanish Journal of Finance and Accounting, 45(3), 365-388. doi: 10.1080/02102412.2016.1198562

CPC 00 (R1) - Estrutura Conceitual para Elaboração e Divulgação de Relatório Contábil-Financeiro. (2011). Disponível em: http://static.cpc.aatb.com.br/Documentos/147_CPC00_R1.pdf

Darnall, N., Seol, I., & Sarkis, J. (2009). Perceived stakeholder influences and organizations’ use of environmental audits. Accounting, Organizations and Society, 34(2), 170 e 187. https://doi.org/10.1016/j.aos.2008.07.002

Daske, H., Hail, L., Leuz, C., & Verdi, R. (2008). Mandatory IFRS Reporting around the World: Early Evidence on the Economic Consequences. Journal of Accounting Research, 46(5), 1085-1142. https://doi.org/10.1111/j.1475-679X.2008.00306.x

Dechow, P., Ge, W., & Schrand, C. (2010). Understanding earnings quality: A review of the proxies, their determinants and their consequences. Journal of Accounting and Economics, 50(2), 344-401. doi: 10.1016/j. jacceco.2010.09.001

Dechow, P. M., & Schrand, C. M. (2004). Earnings quality. New York, NY: Research Foundation of CFA Institute. Disponível em: https://www.cfainstitute.org/-/media/documents/book/rf-publication/2004/rf-v2004-n3-3927-pdf.ashx

Dopuch, N., Holthausen, R., & Leftwich, R. (1986). Abnormal Stock Returns associated with media disclosures of “subject“ qualified audit opinion. Journal of Accounting and Economics, 8(2), 93-117. https://doi.org/10.1016/0165-4101(86)90013-3

Dyer, J. C., & Mchugh, A. (1975). The timeliness of the Australian Annual Report. Journal of Accounting Research, 13(2), 204-219.

Easton, P. D. (1999). Security Returns and the Value Relevance of Accounting Data. Accounting Horizons, 13(4), 399–412. https://doi.org/10.2308/acch.1999.13.4.399

Fan, J.P. H., & Wong, T. J. (2002). Corporate ownership structure and the informativeness of accounting earnings in East Asia. Journal of Accounting and Economics, 33(3), 401-425. https://doi.org/10.1016/S0165-4101(02)00047-2

FASB, Disclosure (1980). Accouting, and Reporting for Pension Plans, 6(2).

Francis, J., Lafond, R., Olsson, P. M., & Schipper, K. (2004). Costs of equity and earnings attributes. Accounting Review, 79(4), 967- 1010.

Francis, J. & Schipper, K. (1999). Have financial statements lost their relevance? Journal of Accounting Research, 37(2), 319-352.

Gjerde, O., Knivsfla, K., & Saettem, F. (2011). The value relevance of financial reporting in Norway 1965–2004. Scandinavian Journal of Management, 27(1), 113-128. https://doi.org/10.1016/j.scaman.2010.08.001

Healy, P., & Wahlen, J. (1999). A review of the earnings management literature and its implications for standard setting. Accounting Horizons, 13(4), 365–383. https://doi.org/10.2308/acch.1999.13.4.365

Healy, P. M., & Palepu, K. G. (2001). Information asymmetry, corporate disclosure, and the capital markets: A review of the empirical disclosure literature. Journal of accounting and Economics, 31(1), 405-440. https://doi.org/10.1016/S0165-4101(01)00018-0

Holthausen, R. W., & Watts, R. L. (2001). The relevance of the value-relevance literature for financial accounting standard setting. Journal of Accounting and Economics, 31 (1-3), 3–75, https://doi.org/10.1016/S0165-4101(01)00029-5

Hung, M. (2001). Accounting standards and value relevance of financial statements: An international analysis. Journal of Accounting and Economics, 30(3), 401−420. https://doi.org/10.1016/S0165-4101(01)00011-8

IFAC; (2006), Handbook of International Auditing, Assurance, and Ethics Pronouncements, IFAC, New York, NY, p. 1108.

Iatridis, G. E. (2011). Accounting disclosures, accounting quality and conditional and unconditional conservatism. International Review of Financial Analysis, 20(2), 88–102. https://doi.org/10.1016/j.irfa.2011.02.013

Jain, A., & Strobl, S. (2017). The effect of volatility persistence on excess returns. Review of Financial Economics, 32, 58–63. https://doi.org/10.1016/j.rfe.2016.11.003

Jensen, M. C., & Meckling, W. H. (1976). Theory of the Firm: Managerial Behavior, Agency Costs and Ownership Structure. Journal of Financial Economics, 3(4), 305-360. https://doi.org/10.1016/0304-405X(76)90026-X

Kirch, G., Lima, J. B. N., & Terra, P. R. S. (2012). Determinantes da Defasagem na Divulgação das Demonstrações Contábeis das Companhias Abertas Brasileiras. Revista Contabilidade & Finanças, 23(60), 173-186. https://doi.org/10.1590/S1519-70772012000300003

Knechel, W. R., & Payne, J L. (2001). Additional Evidence on Audit Report Lag. Auditing: A Journal of Practice & Theory, 20(1), 137-146. https://doi.org/10.2308/aud.2001.20.1.137

Kolozsvari, A. C., & Macedo, M. A. S. (2016). Análise da Influência da Presença da Suavização de Resultados sobre a Persistência dos Lucros no Mercado Brasileiro. Revista Contabilidade & Finanças, 27(72), 306-319. doi: 10.1590/1808-057x201602610

Krishnan, J., & Yang, J. S. (2009). Recent trends in audit report and earnings announcements lags. Accounting Horizons, 23(3), 265-288. doi: 10.2308/acch.2009.23.3.265.

Leventis, S., Weetman, P., & Caramanis, C. (2005). Determinants of audit report lag: Some evidence from Athens Stock Exchange. International Journal of Auditing, 9(1), 45–58. https://doi.org/10.1111/j.1099-1123.2005.00101.x

Lopes, A. B. (2001). A Relevância da Informação Contábil para o Mercado de Capitais: o modelo de Ohlson aplicado à Bovespa. Tese de Doutorado em Ciências - Faculdade de Economia, Administração e Contabilidade, Universidade de São Paulo. São Paulo.

Lopes, A. B., & Martins, E. (2005). Teoria da contabilidade: uma nova abordagem. São Paulo: Atlas, 2005.

Lopes, A. B., & Walker, M. (2008). Firm-Level Incentives and the Informativeness of Accounting Reports: an Experiment in Brazil. Available at SSRN: https://ssrn.com/abstract=1095781 or http://dx.doi.org/10.2139/ssrn.1095781

Matallín-Sáez, J. C., Soler-Domínguez, A., & Tortosa-Ausina, E. (2016). On the robustness of persistence in mutual fund performance. Journal of Economics and Finance, 36, 192–231. https://doi.org/10.1016/j.najef.2016.01.002

Moumen, N., Othman, H. B., & Hussainey, K. (2015). The value relevance of risk disclosure in annual reports: Evidence from MENA emerging markets. Research in International Business and Finance, 34, 177–204. https://doi.org/10.1016/j.ribaf.2015.02.004

Nichols, D. R., & Smith, D. B. (1983). Auditor credibility and auditor changes. Journal of Accounting Research, 21(2), 534-544.

Ohlson, J. (1995). Earnings, book values and dividends in security valuation. Comtemporary Accounting Reaserch, 11, p 661-687. https://doi.org/10.1111/j.1911-3846.1995.tb00461.x

Owusu-Ansah, S., & Leventis, S. (2006). Timeliness of corporate annual financial reporting in Greece. European Accounting Review, 15(2), 273-287.

Ozoguz, A. (2008). Good Times or Bad Times? Investors' Uncertainty and Stock Returns. The Review of Financial Studies, 22(11), 4377-4422. https://doi.org/10.1093/rfs/hhn097

Pereira, A. N., & Costa, F. M. (2012). Determinantes o Atraso Em Auditoria Externa (Audit Delay) Em Companhias Brasileiras. In: XXVI Encontro da Anpad, Rio de Janeiro.

Robu, M. A., & Robu, I. B. (2015). The influence of the audit report on the relevance of accounting information reported by listed Romanian companies. Procedia Economics and Finance, 20, 562-570. https://doi.org/10.1016/S2212-5671(15)00109-4

Ruch, G.W., & Taylor, G. (2015). Accounting conservatism: A review of the literature. Journal of Accounting Literature, 34, 17-38. https://doi.org/10.1016/j.acclit.2015.02.001

Saidin, S. Z. (2014). Does reliance on internal auditors’ work reduced the external audit cost and external audit work? Procedia - Social and Behavioral Sciences, 164, 641 – 646. https://doi.org/10.1016/j.sbspro.2014.11.158

Schaberl, P. D., & Victoravich, L. M. (2015). Reporting location and the value relevance of accounting information: The case of other comprehensive income. Advances in Accounting, 31(2), 239–246. https://doi.org/10.1016/j.adiac.2015.09.006

Schipper, K., & Vincent, L. (2003). Earnings quality. Accounting Horizons, 17, 97-110.

Schmitz, P. W. (2017). Asymmetric information and the property rights approach to the theory of the firm. Economics Letters, 159, 96–99. https://doi.org/10.1016/j.econlet.2017.07.026

Silva, A., Souza, T.R., & Klann, R.C. (2016). Tempestividade Da Informação Contábil Em Empresas Familiares Brasileiras. Revista de Administração de Empresas, 56(5), 489–502. http://dx.doi.org/10.1590/s0034-759020160504

Silva, E. S., Kayo, E. K., & Nardi, R. Y. S. (2016). Governança corporativa e criação de valor em aquisições. Revista de Gestão, 23, 222–232. DOI: https://doi.org/10.1016/j.rege.2016.06.004

Silva, R. L. M. (2013). Adoção Completa Das IFRS No Brasil: Qualidade Das Demonstrações Contábeis e o Custo de Capital Próprio. Tese de Doutorado em Ciências - Faculdade de Economia, Administração e Contabilidade, Universidade de São Paulo. São Paulo.

Silva, R. L. M., & Nardi, P. C. C. (2014). Demonstrações Contábeis No Brasil Após Adoção Do CPC 13: Reação Do Mercado De Ações. Advances in Scientific and Applied Accounting, 7(3), 362 - 385. doi: 10.14392/ASAA.2014070303

Silva, R. L. M., & Nardi, P. C. C. (2017). Full adoption of IFRSs in Brazil: Earnings quality and the cost of equity capital. Research in International Business and Finance, 42, 1057-1073. https://doi.org/10.1016/j.ribaf.2017.07.041

Simon, A., Yaya, L. P., Karapetrovi, S., & Casadesús, M. (2014). An empirical analysis of the integration of internal and external management system audits. Journal of Cleaner Production, 66, 499 e 506. https://doi.org/10.1016/j.jclepro.2013.11.020

Soderstrom, N., & Sun, K. (2007). IFRS adoption and accounting quality: a review. European Accounting Review, 6(4), 675-702. 10.1080/09638180701706732

Sunder, S. (1997). Theory of accounting and control. Cincinnati: South-Western Publishing.

Varian, H. R. (2012). Microeconomia – Uma abordagem Moderna. 8 ed. Rio de Janeiro: Elsevier.

Vidal-García, J. (2013). The persistence of European mutual fund performance. Research in International Business and Finance, 28 (2013) 45– 67. https://doi.org/10.1016/j.ribaf.2012.09.004

Veith, S., & Werner, J. R. (2014). Comparative Value Relevance Studies: Country Differences versus Specification Effects. The International Journal of Accounting, 49(3), 301–330. https://doi.org/10.1016/j.intacc.2014.07.002

Watts, R. L. (2003). Conservatism in accounting part I: Explanations and implications. Accounting Horizons, 17(3), 207-221. https://doi.org/10.2308/acch.2003.17.3.207

Wu, H., Patel, C., & Perera, H. (2015). Implementation of “audit committee” and “independent director” for financial reporting in China. Advances in Accounting, 31(2) 247–262. https://doi.org/10.1016/j.adiac.2015.09.005

Xu, W., Anandarajan, A., & Curatola, A. (2011). The value relevance of goodwill impairment. Research in Accounting Regulation, 23(2), 145–148. https://doi.org/10.1016/j.racreg.2011.06.007

Yunos, R. M., Ahmad, S. A., & Sulaiman, N. (2014). The influence of internal governance mechanisms on accounting conservatism. Procedia - Social and Behavioral Sciences, 164, 501 – 507. https://doi.org/10.1016/j.sbspro.2014.11.138

Published

2020-01-23

How to Cite

Nardi, P. C. C., Amadi, A. F., & Silva, R. L. M. da. (2020). ANÁLISE DA RELAÇÃO ENTRE AS CARACTERÍSTICAS QUALITATIVAS DA INFORMAÇÃO CONTÁBIL E O AUDIT DELAY. Advances in Scientific and Applied Accounting, 1(3), 101–119. https://doi.org/10.14392/ASAA.2019120306

Issue

Section

ARTIGOS