Competencia del Comité de Auditoría y gestión de los beneficios en Europa

Audit Committee Competence and Earnings Management in Europe


Palabras clave: experiencia contable, comité de auditoría, gobierno corporativo, gestión de beneficios, experiencia financiera


Este estudio analiza la asociación entre la competencia de los miembros del Comité de Auditoría y la gestión de los beneficios en una muestra de 142 empresas no financieras de Francia, Alemania, Italia, España y el Reino Unido durante el período 2006-2013. Se mide la competencia de los miembros a través de su dedicación y experiencia. Se descubre que el cargo de consejero externo tiene un efecto doble, de modo que un nivel equilibrado de dedicación al comité de auditoría (aproximadamente dos cargos de consejero externo) reduce la gestión de beneficios. Se examinan igualmente cuatro tipos de experiencia: de auditoría, contable no relacionada con la auditoría, financiera no contable y de supervision, encontrándose una relación negativa entre la gestión de beneficios y la experiencia en auditoría de los miembros del comité, y que los otros tipos de experiencia no desempeñan ningún papel relevante. También se descubre que la contribución de los expertos en auditoría para limitar la gestión de beneficios resulta especialmente importante en los comités más pequeños y menos activos, así como en los consejos más pequeños y más ocupados.


Los datos de descargas todavía no están disponibles.


Abernathy, J. L., Herrmann, D., Kang, T., & Krishnan, G. V. (2013). Audit committee financial expertise and properties of analyst earnings forecasts. Advances in Accounting, 29(1), 1-11.

Albring, S., Robinson, D., & Robinson, M. (2014). Audit committee financial expertise, corporate governance, and the voluntary switch from auditor-provided to non-auditor-provided tax services. Advances in Accounting, 30(1), 81-94.

Almarayeh, T. S., Aibar-Guzmán, B., & Abdullatif, M. (2020). ¿Influye la calidad de la auditoría en la gestión de resultados en los mercados emergentes? Evidencia de Jordania. Revista de Contabilidad - Spanish Accounting Review, 23(1), 64-74.

Archambeault, D., & DeZoort, F. T. (2001). Auditor opinion shopping and the audit committee: An analysis of suspicious auditor switches. International Journal of Auditing, 5, 33-52.

Baatour, K., Ben Othman, H., & Hussainey, K. (2017). The effect of multiple directorships on real and accrual-based earnings management: Evidence from Saudi listed firms. Accounting Research Journal, 30(4), 395-412.

Baccouche, S., Hadriche, M., & Omri, A. (2013). The Impact Of Audit Committee Multiple-Directorships On Earnings Management: Evidence From France. Journal of Applied Business Research, 29(5), 1333-42.

Baccouche, S., Hadriche, M., & Omri, A. (2014). Multiple directorships and board meeting frequency: evidence from France. Applied Financial Economics, 24(14), 983-92.

Baccouche, S., & Omri, A. (2014). Multiple directorships of board members and earnings management: An empirical evidence from French listed companies. Journal of Economic and Financial Modelling, 2(1), 13-23

Badolato, P. G., Donelson, D. C., & Ege, M. (2014). Audit committee financial expertise and earnings management: The role of status. Journal of Accounting and Economics, 58(2), 208-30.

Bajra, U., & Cadez, S. (2018). Audit committees and financial reporting quality: The 8th EU Company Law Directive perspective. Economic Systems, 42(1), 151-63.

Banderlipe II, M. R. S. (2009). The Impact of Selected Corporate Governance Variables in Mitigating Earnings Management in the Philippines. DLSU Business & Economics Review, 19(1), 17-27.

Baxter, P., & Cotter, J. (2009). Audit committees and earnings quality. Accounting & Finance, 49(2), 267-90.

Bedard, J., Chtourou, S. M., & Courteau, L. (2004). The effect of audit committee expertise, independence, and activity on aggressive earnings management. Auditing: A Journal of Practice & Theory, 23(2), 13-35.

Biedma López, E., Ruiz Barbadillo, E., & Gómez Aguilar, N. (2011). ¿Cómo actúan las empresas frente a la dependencia económica del auditor?: El papel del comité de auditoría. Revista de Contabilidad-Spanish Accounting Review, 14(1), 87-119.

Bilal, Chen, S., & Komal, B. (2018). Audit committee financial expertise and earnings quality: A meta-analysis. Journal of Business Research, 84, 253-70.

Blundell, R., & Bond, S. (1998). Initial conditions and moment restrictions in dynamic panel data models. Journal of Econometrics, 87(1), 115-43.

Braiotta, L., & Zhou, J. (2008). An exploratory study of the effects of the European Union 8th Directive on Company Law on audit committees: Evidence from EU companies listed on the US stock exchanges. Advances in Accounting, 24(2), 262-71.

Brown, S. J., & Warner, J. B. (1985). Using daily stock returns: The case of event studies. Journal of Financial Economics, 14(1), 3-31.

Bryan, D., Liu, M. C., Tiras, S. L., & Zhuang, Z. (2013). Optimal versus suboptimal choices of accounting expertise on audit committees and earnings quality. Review of Accounting Studies, 18(4), 1123-58.

Cooper, D. R., & Schindler, P. S. (2003) Research methods. Boston, MA: Irwin.

Chen, K. Y., & Zhou, J. (2007). Audit committee, board characteristics, and auditor switch decisions by Andersen's clients. Contemporary Accounting Research, 24(4), 1085-117.

Chen, Y. M., Moroney, R., & Houghton, K. (2005). Audit committee composition and the use of an industry specialist audit firm. Accounting and Finance, 45, 217-39.

De Vlaminck, N., & Sarens, G. (2015). The relationship between audit committee characteristics and financial statement quality: evidence from Belgium. Journal of Management & Governance, 19(1), 145-66.

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.

Dechow, P. M., & Dichev, I. D. (2002). The Quality of Accruals and Earnings: The Role of Accrual Estimation Errors. The Accounting Review, 77(S-1), 35-59.

Dechow, P. M., & Skinner, D. J. (2000). Earnings management: Reconciling the views of accounting academics, practitioners, and regulators. Accounting Horizons, 14(2), 235-50.

Dechow, P. M., Sloan, R. G., & Sweeney, A. (1995). Detecting earnings management. The Accounting Review, 70(2), 193-225.

DeFond, M. L., Hann, R. N., & Hu, X. (2005). Does the market value financial expertise on audit committees of boards of directors? Journal of Accounting Research, 43(2), 153-93.

DeZoort, F. T., & Salterio, S. E. (2001). The effects of corporate governance experience and financial-reporting and audit knowledge on audit committee members' judgments. Auditing: A Journal of Practice & Theory, 20(2), 31-47.

Dhaliwal, D., Naiker, V., & Navissi, F. (2010). The association between accruals quality and the characteristics of accounting experts and mix of expertise on audit committees. Contemporary Accounting Research, 27(3), 787-827.

Dichev, I. D., Graham, J. R., Harvey, C. R., & Rajgopal, S. (2013). Earnings quality: Evidence from the field. Journal of Accounting and Economics, 56(2–3, Supplement 1), 1-33.

Edwards, M. (2019). Expert Directors. University of Colorado Law Review, 90, 1051-109.

Erkens, D. H., & Bonner, S. E. (2013). The role of firm status in appointments of accounting financial experts to audit committees. The Accounting Review, 88(1), 107-36.

ESMA and EBA (2018). Guidelines on the assessment of the suitability of members of the management body and key function holders.

Espinosa-Pike, M., & Barrainkua, I. (2016). An exploratory study of the pressures and ethical dilemmas in the audit conflict. Revista de Contabilidad-Spanish Accounting Review, 19(1), 10-20.

European Central Bank (2018). Guide to fit and proper assessments. Frankfurt.

Fich, E. M., & Shivdasani, A. (2006). Are busy boards effective monitors? Journal of Finance, 61(2), 689-724.

Garven, S. (2015). The effects of board and audit committee characteristics on real earnings management: Do boards and audit committees play a role in its promotion or constraint? Academy of Accounting and Financial Studies Journal, 19(1), 67-84.

Ghafran, C., & O'Sullivan, N. (2013). The governance role of audit committees: reviewing a decade of evidence. International Journal of Management Reviews, 15(4), 381-407.

Gómez Aguilar, N., Biedma Lopez, E., & Ruiz Barbadillo, E. (2018). The effect of audit partner rotation on audit quality. Revista de Contabilidad-Spanish Accounting Review, 21(1), 7-18.

González-Díaz, B., García-Fernández, R., & López-Díaz, A. (2015). Auditor tenure and audit quality in Spanish state-owned foundations. Revista de Contabilidad-Spanish Accounting Review, 18(2), 115-26.

Habbash, M., Sindezingue, C., & Salama, A. (2013). The effect of audit committee characteristics on earnings management: Evidence from the United Kingdom. International Journal of Disclosure and Governance, 10(1), 13-38.

Heckman, J. (1979). Sample selection bias as a specification error. Econometrica, 47(1), 153-61.

Hohenfels, D. (2016). Auditor tenure and perceived earnings quality. International Journal of Auditing, 20(3), 224-38.

Hoitash, U., Hoitash, R., & Bedard, J. C. (2009). Corporate governance and internal control over financial reporting: A comparison of regulatory regimes. The Accounting Review, 84(3), 839-67.

Hribar, P., & Collins, D. W. (2002). Errors in estimating accruals: Implications for empirical research. Journal of Accounting Research, 40(1), 105-34.

Inaam, Z. (2016). Audit committee effectiveness, audit quality and earnings management: a meta-analysis. International Journal of Law and Management, 58(2), 179-96.

Inaam, Z., & Khamoussi, H. (2016). Audit committee effectiveness, audit quality and earnings management: a meta-analysis. International Journal of Law and Management, 58(2), 179-96.

Jiraporn, P., Sang-Kim, Y., & Davidson III, W. N. (2008). Multiple Directorships and Corporate Diversification. Journal of Empirical Finance, 15, 418-35.

Jiraporn, P., Singh, M., & Lee, C. I. (2009). Ineffective corporate governance: Director busyness and board committee memberships. Journal of Banking & Finance, 33, 819-28.

Jones, J. J. (1991). Earnings management during import relief investigations. Journal of Accounting Research, 29(2), 193-228.

Karamanou, I., & Vafeas, N. (2005). The association between corporate boards, audit. committees, and management earnings forecasts: An empirical analysis. Journal of Accounting Research, 43(3), 453-86.

Kothari, S. P., Leone, A. J., & Wasley, C. E. (2005). Performance matched discretionary accrual measures. Journal of Accounting and Economics, 39(1), 163-97.

Krishnan, G. V., & Visvanathan, G. (2008). Does the SOX definition of an accounting expert matter? The association between audit committee directors' accounting expertise and accounting conservatism. Contemporary Accounting Research, 25(3), 827-58.

Krishnan, J., & Krishnan, J. (1997). Litigation risk and auditor resignations. Accounting Review, 539-60.

Krishnan, J., & Lee, J. E. (2009). Audit committee financial expertise, litigation risk, and corporate governance. Auditing: A Journal of Practice & Theory, 28(1), 241-61.

Kusnadi, Y., Leong, K. S., Suwardy, T., & Wang, J. (2016). Audit Committees and Financial Reporting Quality in Singapore. Journal of Business Ethics, 139(1), 197-214.

Lin, J. W., & Hwang, M. I. (2010). Audit quality, corporate governance, and earnings management: A meta-analysis. International Journal of Auditing, 14(1), 57-77.

Liu, M. H. C., Tiras, S. L., & Zhuang, Z. (2014). Audit committee accounting expertise, expectations management, and nonnegative earnings surprises. Journal of Accounting and Public Policy, 33(2), 145-66.

Lo, A. W. Y., Wong, R. M. K., & Firth, M. (2010). Can corporate governance deter management from manipulating earnings? Evidence from related-party sales transactions in China. Journal of Corporate Finance, 16(2), 225-35.

Mansor, N., Che Ahmad, A., Ahmad-Zaluki, N. A., & Osman, A. H. (2013). Corporate governance and earnings management: A study on the Malaysian family and non-family owned PLCs. Procedia Economics and Finance, 7, 221-29.

Masulis, R. W., & Mobbs, S. (2011). Are all inside directors the same? Evidence from the external directorship market. Journal of Finance, 66(3), 823-72.

McMullen, D. A., & Raghunandan, K. (1996). Enhancing audit committee effectiveness. Journal of Accountancy, 182(2), 79-81.

Naiker, V., & Sharma, D. S. (2009). Former audit partners on the audit committee and internal control deficiencies. The Accounting Review, 84(2), 559-87.

Palazuelos Cobo, E., Montoya del Corte, J., & Herrero Crespo, Á. (2017). Determinantes de la continuidad en la contratación de la auditoría de forma voluntaria: evidencia para el caso de España. Revista de Contabilidad-Spanish Accounting Review, 20(1), 63-72.

Piot, C., & Rémi, J. (2007). External Auditors, Audit Committees and Earnings Management in France. European Accounting Review, 16(2), 429 - 54.

Pollock, T. G., Chen, G., Jackson, E. M., & Hambrick, D. C. (2010). How much prestige is enough? Assessing the value of multiple types of high-status affiliates for young firms. Journal of Business Venturing, 25(1), 6-23.

Rickett, L. K., Maggina, A., & Alam, P. (2016). Auditor tenure and accounting conservatism: evidence from Greece. Managerial Auditing Journal, 31(6-7), 538-65.

Saleh, N. M., Iskandar, T. M., & Rahmat, M. M. (2005). Earnings management and board characteristics: Evidence from Malaysia. Jurnal Pengurusan (UKM Journal of Management), 24, 77-103

Sarkar, J., Sarkar, S., & Sen, K. (2008). Board of Directors and Opportunistic Earnings Management: Evidence from India. Journal of Accounting, Auditing & Finance, 23(4), 517-51.

Securities and Exchange Commission (2003). Disclosure Required by Sections 406 and 407 of the Sarbanes-Oxley Act of 2002. Release Nos. 33-8177, 34-47235. Washington: SEC.

Sharma, V. (2011). Independent directors and the propensity to pay dividends. Journal of Corporate Finance, 17, 1001-15.

Siam, Y. A., Idris, M., & Al-Okdeh, S. (2018). The Moderating Role of Family Control on the Relationship between Audit Committee Financial Expertise and Earnings Management. International Journal of Business and Management, 13(12), 31-37.

Siregar, S. V., & Utama, S. (2008). Type of earnings management and the effect of ownership structure, firm size, and corporate-governance practices: Evidence from Indonesia. The International Journal of Accounting, 43, 1-27.

Stice, J. D. (1991). Using financial and market information to identify pre-engagement factors associated with lawsuits against auditors. Accounting Review, 66(3), 516-33.

Studenmund, A. H. (1997) Using Econometrics: A Practical Approach. Boston: Addison-Wesley.

Sultana, N., Singh, H., & Rahman, A. (2019). Experience of Audit Committee Members and Audit Quality. European Accounting Review, 28(5), 947-75.

Sun, F., Wei, X., & Xu, Y. (2012). Audit committee characteristics and loss reserve error. Managerial Auditing Journal, 27(4), 355-77.

Sun, J., Lan, G., & Liu, G. (2014). Independent audit committee characteristics and real earnings management. Managerial Auditing Journal, 29(2), 153-72.

Vafeas, N., & Waegelein, J. F. (2007). The association between audit committees, compensation incentives, and corporate audit fees. Review of Quantitative Finance and Accounting, 28(3), 241-55.

Wooldridge, J. M. (2010) Econometric analysis of cross section and panel data. Cambridge, Massachusetts, USA: MIT Press.

Xie, B., Davidson, W. N., & Dadalt, P. J. (2003). Earnings management and corporate governance: the role of the board and the audit committee. Journal of Corporate Finance, 9, 295-316.

Yang, J. S., & Krishnan, J. (2005). Audit committees and quarterly earnings management. International Journal of Auditing, 9(3), 201-19.

Zalata, A. M., Tauringana, V., & Tingbani, I. (2018). Audit committee financial expertise, gender, and earnings management: Does gender of the financial expert matter? International Review of Financial Analysis, 55, 170-83.

Zaman, M., Hudaib, M., & Haniffa, R. (2011). Corporate governance quality, audit fees and non-audit services fees. Journal of Business Finance & Accounting, 38(1-2), 165-97. doi.

Zhang, Y., Zhou, J., & Zhou, N. (2007). Audit committee quality, auditor independence, and internal control weaknesses. Journal of Accounting and Public Policy, 26(3), 300-27.

Cómo citar
Zarza Herranz, C., Reguera Alvarado, N., & López Iturriaga, F. J. (2022). Competencia del Comité de Auditoría y gestión de los beneficios en Europa: Audit Committee Competence and Earnings Management in Europe. Revista de Contabilidad - Spanish Accounting Review, 25(1), 121–135.