Control extranjero versus local de subsidiarias privadas españolas y opiniones de auditoria modificadas

Foreign versus local control of Spanish private subsidiaries and modified audit opinions


Palabras clave: control extranjero, filiales privadas, opinión de auditoría modificada (OAM), motivos de las OAM

Agencias de apoyo

  • Spanish Ministry of Science and Innovation (ECO2013-48328)
  • the research project funding 09I340 P11B2009-05 of the Universitat Jaume I
  • AECA professorship of accounting and auditing 2018-2019
  • Simona Rusanescu acknowledges financial support of the Spanish Association of University Accounting Professors (ASEPUC), through the 2014 PhD grant


En este trabajo se estudia la relación entre el control extranjero y la probabilidad de recibir opiniones de auditoria modificadas (OAMs) en una muestra de subsidiarias españolas no cotizadas. Además, para analizar con mayor detalle esta relación, clasificamos las OAMs en cuatro tipos, en función de la razón que subyace a la modificación: violación de principios y normas contables; opacidad; incertidumbres por gestión continuada (GCUs); y otras incertidumbres (non-GCUs). Se observa una incidencia significativamente mayor de OAMs en subsidiarias de grupos extranjeros que en las de grupos locales. Este resultado se deriva fundamentalmente de las modificaciones de opinión relacionadas con la falta de transparencia (opacidad). La evidencia de una mayor incidencia de modificaciones por violación de principios contables e incertidumbres distintas de la gestión continuada en subsidiarias con control extranjero es poco concluyente; y las modificaciones por gestión continuada son significativamente menos frecuentes en las subsidiarias de grupos extranjeros. A diferencia de los resultados en el contexto de la empresa cotizada, nuestros resultados sugieren que el control extranjero en la empresa no cotizada está asociado a empresas más opacas. Este trabajo contribuye a una mayor comprensión de los efectos de la inversión directa extranjera (FDI) en las empresas del país receptor.


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Cómo citar
Gill-de-Albornoz, B., & Rusanescu, S. (2022). Control extranjero versus local de subsidiarias privadas españolas y opiniones de auditoria modificadas: Foreign versus local control of Spanish private subsidiaries and modified audit opinions. Revista de Contabilidad - Spanish Accounting Review, 25(2), 217–232.