Implicaciones de la regulación de la Unión Europea en los sistemas de supervisión de la profesión de auditoría
Implications of the EU Regulation on Public Oversight Systems for Statutory Auditors
Agencias de apoyo
- ASEPUC and ICAC, within the 2020 annual agreement to fund research projects
- Cátedra UAM-Auditores Madrid and the Madrid Government (within the framework of the multi-year agreement with the Universidad Autónoma de Madrid on Line 3: Excellence for University Staff - PRICIT)
Resumen
La supervisión de las auditorías desempeña un papel crucial a la hora de garantizar su calidad. A pesar de los últimos avances para reforzar los sistemas de supervisión de la auditoría pública en Europa, en este artículo abordamos las cuestiones en las que la armonización solo se ha logrado ligeramente. Basándonos en el contenido de las directivas europeas, mostramos cómo siguen surgiendo diferencias significativas que perjudican al sistema de supervisión de la auditoría pública de la UE. En él se estudian las obligaciones de supervisión y disciplina, la estructura organizativa, la financiación y los mecanismos de transparencia de los organismos públicos de supervisión más relevantes de la UE, Australia, el Reino Unido y EE. UU. El análisis sugiere que, a pesar del marco común establecido en las directivas y reglamentos de la UE, el actual sistema de supervisión pública en Europa está aún lejos de alcanzar un grado razonable de armonización, lo que dificulta la eficacia de los órganos de supervisión fiscal. Contribuimos a ello proporcionando un marco institucional que permite identificar el impacto de las características más adoptadas sobre la independencia y la competencia de cada órgano de supervisión.
Descargas
Citas
Abbott, L. J., Gunny, K. A., & Zhang, T. C. (2013). When the PCAOB talks, who listens? Evidence from stakeholder reaction to GAAP-deficient PCAOB inspection reports of small auditors. Auditing: A Journal of Practice and Theory, 32, (2), 1-31. https://doi.org/10.2308/ajpt-50374
Aobdia, D. (2019): Do practitioner assessments agree with academic proxies for audit quality? Evidence from PCAOB and internal inspections. Journal of Accounting and Economics, 67(1), 144-174. https://doi.org/10.1016/j.jacceco.2018.09.001
Barth, M., & Israeli, D. (2013). Disentangling mandatory IFRS reporting and changes in enforcement. Journal of Accounting and Economics, 56(2–3), 178-188. https://doi.org/10.1016/j.jacceco.2013.11.002
Benito, B., & Brusca, I. (2004). International Classification of Local Government Accounting Systems. Journal of Comparative Policy Analysis: Research and Practice, 6(1), 57–80. https://doi.org/10.1080/1387698042000222790
Binger, B. R., & Hoffman, E. (1989). Institutional persistence and change: The question of efficiency. Journal of Institutional and Theoretical Economics (JITE)/Zeitschrift für die gesamte Staatswissenschaft, 67-84. https://www.jstor.org/stable/40751171
Bishop, C.C., Hermanson, D.R., & Houston, R.W. (2013). PCAOB inspections of international audit firms: initial evidence, International Journal of Auditing, 17, 1-18. https://doi.org/10.1111/j.1099-1123.2012.00453.x
Brown, P., Preiato, J., & Tarca, A. (2014). Measuring country differences in enforcement of accounting standards: An audit and enforcement proxy. Journal of Business Finance & Accounting, 41(1-2), 1-52. https://doi.org/10.1111/jbfa.12066
Brown, P., & Tarca, A. (2005). A commentary on issues relating to the enforcement of International Financial Reporting Standards in the EU. European Accounting Review, 14 (1), 181-212. https://doi.org/10.1080/0963818042000338997
Carcello, J.V., Hollingsworth, C., & Mastrolia, S.A. (2011a). The effect of PCAOB inspections on Big 4 audit quality. Research in Accounting Regulation, 23 (2), 85-96. https://doi.org/10.1016/j.racreg.2011.10.001
Carcello, J.V., Carver, B.T., & Neal, T. (2011b). Market Reaction to the PCAOB's Inability to Conduct Foreign Inspections”, Working paper. Available at SSRN: https://dx.doi.org/10.2139/ssrn.1911388
Carson, E., R. Simnett, U. Thuerheimer & Vaanstraelen, A. (2021). The effect of national inspection regimes on audit quality. Working paper. Available at SSRN: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3049828
Casterella, J. R., K. L. Jensen, & Knechel, W. R.. (2009). Is self-regulated peer review effective at signaling audit quality? The Accounting Review, 84 (3), 713-735. https://www.jstor.org/stable/27784192
Coates, J.C., & Srinivasan, S., (2014). SOX after ten years: a multidisciplinary review. Accounting Horizons, 28 (3), 627-671. https://doi.org/10.2308/acch-50759
Christensen, H., L. Hail, & C. Leuz. (2013). Mandatory IFRS reporting and changes in enforcement. Journal of Accounting and Economics, 56 (2), 147-177. https://doi.org/10.1016/j.jacceco.2013.10.007
Daugherty, B., Dickins, D., & Tervo, W. (2011). Negative PCAOB inspections of triennially inspected auditors and involuntary and voluntary client losses. International Journal of Auditing, 15 (3), 231-246. https://doi.org/10.1111/j.1099-1123.2011.00432.x
Dee, C.C., Lulseged, A., & Zhang, T. (2011). Client stock market reaction to PCAOB sanctions against Big 4 Auditor, Contemporary Accounting Research, 28 (1), 263-291. https://doi.org/10.1111/j.1911-3846.2010.01044.x
DeFond, M. L., & Lennox, C.S. (2017). Does PCAOB inspections improve the quality of internal control audits?, Journal of Accounting Research, 55(3), 591-627. https://doi.org/10.1111/1475-679X.12151
Directive 2006/43/EC of the European Parliament and of the Council of 17 May 2006 on statutory audits of annual accounts and consolidated accounts, amending Council Directives 78/660/EEC and 83/349/EEC and repealing Council Directive 84/253/EEC. Brussels: Official Journal of the European Union L157/87.
Directive 2014/56/UE of the European Parliament and of the Council of 16 May 2014 amending Directive 2006/43/EC on statutory audits of annual accounts and consolidated accounts. Brussels: Official Journal of the European Union L158/196.
Dowling, C., Knechel, W. R., & Moroney, R. (2018). Public Oversight of Audit Firms: The Slippery Slope of Enforcing Regulation. Abacus, 54(3), 353-380. https://doi.org/10.1111/abac.12130
Eberle, D., & Lauter, D. (2011). Private interests and the EU-US dispute on audit regulation: The role of the European accounting profession. Review of International Political Economy, 18(4), 436-459. https://doi.org/10.1080/09692290.2010.499798
EC (2010) Green Paper. Audit Policy: Lessons from the Crisis, October (Brussels: European Commission). Available at: https://www.europarl.europa.eu/meetdocs/2009_2014/documents/com/com_com(2010)0561_/com_com(2010)0561_en.pdf
Florou, A & Shuai Y. (2024). Public Audit Oversight and Audit Pricing: Evidence from the EU. European Accounting Review, 33 (3), 1105-1137. https://doi.org/10.1080/09638180.2022.2145981
Francis, J. R., & Wang, D. (2008). The joint effect of investor protection and Big 4 audits on earnings quality around the world. Contemporary Accounting Research, 25(1), 157-191. https://doi.org/10.1506/car.25.1.6
Fun, S:Y.K., Raman, K.K., & Zhy, X.K. (2017). Does the PCAOB international inspection program improve audit quality for non-US-listed foreign clients. Journal of Accounting and Economics, 64 (1), 15-36. https://doi.org/10.1016/j.jacceco.2017.04.002
García-Osma, B. Gisbert, A., & Navallas, B. (2020). [What are the wider supervisory implications of the Wirecard case?,] Economic Governance Support Unit (EGOV). Available at: https://www.europarl.europa.eu/RegData/etudes/STUD/2020/651383/IPOL_STU(2020)651383_EN.pdf[What are the wider supervisory implications of the Wirecard case?,]
García Osma, B., Gisbert A., & De las Heras, E., (2017). Public oversight systems for statutory auditors in the European Union. European Journal of Law and Economics, 44 (3), 517–552. https://doi.org/10.1007/s10657-014-9460-1
Glover, S.M., Prawitt, D.F., & Taylor, M.H. (2009). Audit standard setting and inspection for US public companies: a critical assessment and recommendations for fundamental change. Accounting Horizons, 23 (2), 221-237. https://doi.org/10.2308/acch.2009.23.2.221
Gramling, A.A., Krishnan, J., & Zhang, Y. (2011). Are PCAOB-identified audit deficiencies associated with a change in reporting decisions of triennially inspected audit firms? Auditing: a Journal of Practice and Theory, 30 (3), 59-79. https://doi.org/10.2308/ajpt-10048
Gilbert, T. F. (2007). Human competence: Engineering worthy performance. International Society for Performance Improvement. San Francisco, CA: Pfeiffer.
Gipper, B., Leuz, C., & Maffett, M. (2020). Public oversight and reporting credibility: evidence from the PCAOB inspection regime. The Review of Financial Studies, 33 (1), 4532-4579. https://doi.org/10.1093/rfs/hhz149
Hanlon, M., & N. Shroff. (2022). Insights into auditor public oversight boards: whether, how, and why they ‘Work’”. Journal of Accounting and Economics, 74 (1), 101497. https://doi.org/10.1016/j.jacceco.2022.101497
Hermanson, D.R., & Houston, R.W. (2008). Quality control defects revealed in smaller firms’ PCAOB inspection reports. CPA Journal 78(12), 36-39. Available at: https://digitalcommons.kennesaw.edu/cgi/viewcontent.cgi?referer=&httpsredir=1&article=2533&context=facpubs
Hermanson, D.R., & Houston, R.W. (2009). Evidence from the PCAOB’s second inspections of small firms: Driving improvements in auditing and quality control. The CPA Journal, 79(2), 58-60. Available at: https://digitalcommons.kennesaw.edu/cgi/viewcontent.cgi?article=2515&context=facpubs
Hermanson, D.R. Houston, R.W., & Rice, J.C. (2007). PCAOB inspections of smaller CPA: The perspective of inspected firms. Accounting Horizons, 14 (2), 189-219. https://doi.org/10.2308/acch.2010.24.2.189
Hilary, G., & C. Lennox. (2005). The credibility of self-regulation: Evidence from the accounting profession’s peer review program. Journal of Accounting and Economics, 40 (1-3), 211–229. https://doi.org/10.1016/j.jacceco.2005.03.002
Horton, J., Tsipouridou, M., & Wood, A. (2018). European market reaction to audit reforms. European Accounting Review, 27 (5), 991-1023. https://doi.org/10.1080/09638180.2017.1394203
Houston, R., & Stefaniak, C. (2013). Audit partner perceptions of post-audit review mechanisms: An examination of internal quality reviews and PCAOB inspections. Accounting Horizons, 27 (1), 23-49. https://doi.org/10.2308/acch-50323
Humphrey, C., Kausar, A., Loft A., & Woods,M. (2011). Regulating Audit beyond the Crisis: A Critical Discussion of the EU Green Paper, European Accounting Review, 20:3, 431-457, https://doi.org/10.1080/09638180.2011.597201
Humphrey, C., Loft, A., & Woods, M. (2009). The global audit profession and the international financial architecture: Understanding regulatory relationships at a time of financial crisis. Accounting, Organizations and Society, 34 (6-7), 810-825. https://doi.org/10.1016/j.aos.2009.06.003
Isidro, H., Nanda, D., & Wysocki, P. D. (2020). On the Relation between Financial Reporting Quality and Country Attributes: Research Challenges and Opportunities. The Accounting Review, 95 (3), 279-314. https://doi.org/10.2308/accr-52607
Krishnan, J., Krishnan, J., & Song, H. (2017). PCAOB international inspections and audit quality. The Accounting Review, 92 (5), 143-166. https://doi.org/10.2308/accr-51642
Lamoreaux, P.T. (2016). Does PCAOB inspection access improve audit quality? An examination of foreign firms listed in the United States. Journal of Accounting and Economics, 61(2-3), 313-337. https://doi.org/10.1016/j.jacceco.2016.02.001
Lamoreaux, P. T., Mauler, L. M., & Newton, N. J. (2020). Audit regulation and cost of equity capital: Evidence from the PCAOB's international inspection regime. Contemporary Accounting Research, 37(4), 2438-2471. https://doi.org/10.1111/1911-3846.12599
Landis, M., Jerris, S.I., & Braswell, M. (2011). An account analysis of the PCAOB inspection reports for triennially-inspected audit firms. Journal of Business and Economics Research, 9 (3), 11-21. https://doi.org/10.19030/jber.v9i3.4125
La Porta, R., F. Lopez-de-Silanes, & A. Shleifer. (2006). What works in securities laws? The Journal of Finance, 61 (1), 1 – 32. https://doi.org/10.1111/j.1540-6261.2006.00828.x
La Porta, R., F. Lopez-de-Silanes, A. Shleifer, & R. Vishny. (1998). Law and finance. Journal of Political Economy, 106 (6), 1113 – 55. https://doi.org/10.1086/250042
La Porta, R., F. Lopez-de-Silanes, A. Shleifer, & R. Vishny. (2000). Investor protection and corporate governance. Journal of Financial Economics, 58 (1 – 2), 3 – 27. https://doi.org/10.1016/S0304-405X(00)00065-9
Löhlein, L. (2017). Measuring the independence of audit oversight entities: a comparative empirical analysis. Accounting Research Journal, 30(2), 165-184. https://doi.org/10.1108/ARJ-05-2015-0071
Maijoor, S. J., & Vanstraelen, A. (2006). Earnings management within Europe: the effects of member state audit environment, audit firm quality and international capital markets. Accounting and Business Research, 36 (1), 33-52. https://doi.org/10.1080/00014788.2006.9730005
Shroff, N. (2020). Real Effects of PCAOB International Inspections. The Accounting Review, 95 (5), 399-433. https://doi.org/10.2308/accr-52635
Sundgren, S., & Svanström, T. (2017). Is the Public Oversight of Auditors effective? The impact of sanctions on loss of clients, salary and audit reporting. European Accounting Review, 26(4), 787-818. https://doi.org/10.1080/09638180.2016.1203345
Teodorescu, T. (2006). Competence versus competency: What is the difference? Performance Improvement, 45 (10), 2-48. https://doi.org/10.1002/pfi.4930451027
Vanstraelen, A., & Zou, L. (2022). PCAOB Inspections and Audit Fees: An Analysis of Inspections Rounds of Small Audit Firms. European Accounting Review, 31 (2), 345-376. https://doi.org/10.1080/09638180.2020.1828121
Vanstraelen, A., & Willekens, M. (2008). Audit regulation in Belgium. In R. Quick, S. Turley & M. Willekens (Eds.), Auditing, trust and governance: Developing regulation in Europe (pp. 19-41). London, UK: Routledge.
Westermann, K. D., Cohen, J., & Trompeter, G. (2019). PCAOB Inspections: Public Accounting Firms on “Trial”. Contemporary Accounting Research, 36 (2), 694-731. https://doi.org/10.1111/1911-3846.12454
Wysocki, P. (2011). New institutional accounting and IFRS. Accounting and Business Research, 41, 309-328. https://doi.org/10.1080/00014788.2011.575298
Derechos de autor 2024 Revista de Contabilidad - Spanish Accounting Review
Esta obra está bajo una licencia internacional Creative Commons Atribución 4.0.
Las obras que se publican en esta revista están sujetas a los siguientes términos:
1. Ediciones de la Universidad de Murcia (EDITUM) y ASEPUC conservan los derechos patrimoniales (copyright) de las obras publicadas, y favorece y permite la reutilización de las mismas bajo la licencia de uso indicada en el punto 2.
2. Las obras se publican en la edición electrónica de la revista bajo una licencia de Creative Commons Reconocimiento-NoComercial-SinObraDerivada 4.0 Internacional. Permite copiar, distribuir e incluir el artículo en un trabajo colectivo (por ejemplo, una antología), siempre y cuando no exista una finalidad comercial, no se altere ni modifique el artículo y se cite apropiadamente el trabajo original. Esta revista no tiene tarifa por la publicación Open Access. ASEPUC y EDITUM financian los costes de producción y publicación de los manuscritos.
3. Condiciones de auto-archivo. Se permite y se anima a los autores a difundir electrónicamente la versión publicada de sus obras, ya que favorece su circulación y difusión y con ello un posible aumento en su citación y alcance entre la comunidad académica.
