Un análisis comparado de las Cuestiones Clave de Auditoría en España y las Critical Audit Matters en EE. UU. Implicaciones sobre la armonización internacional de la auditoría
DOI:
https://doi.org/10.51302/rcyt.2022.7619Palabras clave:
auditoría, Cuestiones Clave de Auditoría, Critical Audit Matters, armonización de la auditoríaResumen
La inclusión en el informe de auditoría de los riesgos más significativos está siendo, en los últimos años, el punto central del debate en torno a la auditoría. En este artículo analizamos las Cuestiones Clave de Auditoría en España (CCA) y en las Critical Audit Matters en EE. UU. (CAM) en una muestra de 35 empresas de cada país durante los años 2019 y 2020. Dichos conceptos difieren, ya que las CAM solamente recogen como riesgos aquellos que tienen un reflejo en una cuenta contable, mientras que las CCA habla de riesgos significativos, vinculados a cuentas contables o no. Esta diferencia crea problemas en la consecución de una armonización internacional de la auditoría y emite al mercado informaciones que pueden ser equívocas para los stakeholders.
Nuestro estudio empírico aporta evidencia pionera comparada sobre las CCA en España y las CAM en EE. UU., llamando especialmente la atención el hecho de que los riesgos vinculados al cumplimiento legal y normativo, tecnología de la información y otros riesgos, no aparecen incluidos por los auditores en los informes de auditoría de las empresas estadounidenses al no estar vinculados a anotaciones contables. Adicionalmente, el estudio muestra que la firma auditora, la especialización del auditor y el sector de actividad inciden en el tipo de cuestiones incluidas por los auditores en el informe de auditoría. Las reflexiones que planteamos en este artículo, utilizando los resultados de nuestro análisis empírico, evidencian que se pueden crear desfases de información para los stakeholders que analicen empresas estadounidenses y lo que es todavía más confuso, pone en peligro culminar el proceso de armonización internacional de la auditoría.
Descargas
Citas
Almulla, M. y Bradbury, M. E. (2019). Auditor, Client, and Investor Consequences of the Enhanced Auditor’s Report. https://ssrn.com/abstract=3165267ohttp://dx.doi.org/10.2139/ssrn.3165267 [Acceso 01.08.21].
Asbahr, K. y Ruhnke, K. (2019). Real effects of reporting key audit matters on auditors’ judgment and choice of action. International Journal of Auditing, 23(2), 165-180.
Audousset-Coulier, S., Jeny, A. y Jiang, L. (2016). The validity of auditor industry specialization measures. Auditing: A Journal of Practice & Theory, 35(1), 139-161.
Bédard, J., Gonthier-Besacier, N. y Schatt, A. (2014). Costs and benefits of reporting KAM in the audit report: The French experience. En International Symposium on Audit Research. https://www.isarhq.org/2014_downloads/papers/ISAR2014_Bedard_Besacier_Schatt.pdf [Acceso10.11.21].
Bédard, J., Gonthier-Besacier, N. y Schatt, A. (2019). Consequences of expanded audit reports: Evidence from the justifications of assessments in France. Auditing: A Journal of Practice & Theory, 38(3), 23-45.
Boolaky, P. K. y Quick, R. (2016). Bank director’s perceptions of expanded auditor´s report. International Journal of Auditing, 20, 158-174.
Boonyanet, W. y Promsen, W. (2018). Key audit matters: just little informative value to investors in emerging markets? Chulalongkorn Business Review, 41(1), 153-183.
Boutin-Dufresne, F. y Savaria, P. (2004). Corporate Social Responsibility and financial risk. The Journal of Investing, 13, 57-66.
Carcello, J. y Nagy, A. (2004). Client size, auditor specialization and fraudulent financial reporting. Managerial Auditing Journal, 19(5), 651-668.
Carver, B. T. y Trinkle, B. S. (2017). Nonprofessional investors’ reactions to the PCAOB’s proposed changes to the standard audit report. https://ssrn.com/abstract=2930375 [Acceso 15.10.21].
Christensen, B. E, Glover, S. M. y Wolfe, C. J. (2014). Do critical audit matter paragraphs in the audit report change nonprofessional investors’ decision to invest? Auditing: A Journal of Practice & Theory, 33(4), 71-93.
Cordoş, G. S. y Fülp, M. T. (2015). Understanding audit reporting changes: introduction of key audit matters. Accounting & Management Information Systems, 14(1), 128-152.
CPA Journal (2019). Regulators and Standards Setters. The CPA Journal. https://www.cpajournal.com/2019/02/21/regulators-and-standards-setters/ [Acceso 06.03.21].
Disney. (2013). Comment letter in response to PCAOB Rulemaking Docket No. 034. Diciembre 11. https://pcaobus.org/Rulemaking/Pages/Docket034Comments.aspx [Acceso 20.12.21].
Doty, J. R. (2017). Statement on adoption of an auditing standard on the auditor’s report. https://pcaobus.org/News/Speech/Pages/Doty-statement-auditors-report-standard-adoption-6-1-17.aspx [Acceso 20.12.21].
Dunn, K. A. y Mayhew, B. H. (2004). Audit firm industry specialization and client disclosure quality. Review of Accounting Studies, 9, 35-58.
European Union. (2014). Regulation (EU) No. 537/2014 of the European Parliament and of the Council of 16 April 2014 on specific requirements regarding statutory audit of public-interest entities and repealing Commission Decision 2005/909/EC. Official Journal of European Union.
FedEx. (2016). Comment letter in response to PCAOB Rulemaking Docket No. 034. August 15. https://pcaobus.org/Rulemaking/Pages/Docket034Comments.aspx [Acceso 20.12.21].
Ferreira, C. y Morais, A. I. (2019). Analysis of the relationship between company characteristics and key audit matters disclosed. Revista Contabilidade & Finanças, 31, 262-274.
Financial Reporting Council. (2013). International Standard on Auditing (UK and Ireland) 700. The independent auditor’s report on financial statements. Financial Reporting Council.
Financial Reporting Council. (2016). Communicating key audit matters in the independent auditor’s report. Financial Reporting Council.
Francis, J. R. (2011). A framework for understanding and researching audit quality. Auditing: A journal of practice & theory, 30(2), 125-152.
Gambetta, N., Sierra-García, L., García-Benau, M. A. y Orta Pérez, M. (2019). Key Audit Matters expected in Spain: Are auditors predictable? Spanish Accounting Review, 22(1), 32-40.
García-Benau, M. A. y Vico Martínez, A. (2003). Los escándalos financieros y la auditoría: pérdida y recuperación de la confianza en una profesión en crisis. Revista Valenciana de Economía y Hacienda, 7, 25-48.
Genç, E. G. y Erdem, B. (2021). The Analysis of the Relationship between Key Audit Matters (KAM) and Firm Characteristics: The Case of Turkey. EMAJ: Emerging Markets Journal, 11(1), 60-66.
Gul, A. F., Jaggi, B. y Krishnan, G. (2007). Auditor independence: evidence of the joint effects of auditor tenure and non-audit fees. Auditing: A journal of Practice & Theory, 26(2), 117-142.
Gutiérrez, E., Minutti-Meza, M., Tatum, K. W. y Vulcheva, M. (2018). Consequences of changing the auditor’s report: Evidence from the UK. Review of Accounting Studies, 23, 1.543-1.587.
Hatherly, D., Innes, J. y Brown, T. (1991). The Expanded Audit Report-An Empirical Investigation. Accounting and Business Research, 21(84), 311-319.
Hong, L., Hay, D. y Lu, D. (2019). Assessing the impact of the new auditor’s report. Pacific Accounting Review, 31(1), 110-132.
International Auditing and Assurance Standard Board (IAASB). (2013). Exposure Draft: Reporting on audited financial statements: proposed new and revised International Standard on Auditing. International Federation of Accountants.
International Auditing and Assurance Standard Board (IAASB). (2015). International Standard on Auditing 701. Communicating key audit matters in the independent auditor’s report. International Federation of Accountants.
International Auditing and Assurance Standard Board (IAASB). (2016). Identifying and assessing the risks of material misstatement through understanding the entity and its environment. International Standard on Auditing 315. International Federation of Accountants.
Jermakowicz, E. K., Epstein, B. J. y Ramamoorti, S. (2018). CAM versus KAM-A Distinction without a Difference? Making Judgments in Reporting Critical Audit Matters. The CPA Journal, 88(2), 34-40.
Kachelmeier, S. J., Schmidt, J. y Valentine, K. (2014). The disclaimer effect of disclosing critical audit matters in the auditor’s report. https://pcaobus.org/News/Events/Documents/10272014_CEA/Disclaimer_Effect.pdf [Acceso 18.10.21].
Köhler, A. G., Ratzinger-Sakel, N. V. y Theis, J. C. (2016). The effects of key audit matters on the auditor’s report’s communicative value: experimental evidence from investment professionals and non-professional investors. https://papers.ssrn.com/sol3/papers.cfm?abstract_id=2838162 [Acceso 18.01.21].
KPMG. (Julio 2021). Informes de Auditoría. KPMG.
Krishnan, G. V. (2003). Does Big-6 auditor expertise constrain earning management? Accounting Horizons (Sup), 1-16.
Kwon, S. (1996). The impact of competition within the client’s industry on the auditor selection decision. Auditing: A Journal of Practice & Theory (Spring), 53-70.
Lennox, C. S., Schmidt, J. J. y Thompson, A. M. (2021). Is the expanded model of audit reporting informative to investors? Evidence from the UK. Review for Accounting Studies. [En prensa].
Li, H., Hay, D. y Lau, D. (2018). Assessing the impact of the new auditor’s report. Working paper. https://doi.org/10.2139/ssrn.3120822 [Acceso 18.06.21].
Maijoor, S. y Vanstraelen, A. (2012). Research Opportunities in Auditing in the EU. Auditing: A Journal of Practice & Theory, 31(1), 115-126.
Mock, T. J., Bédard, J., Coram, P. J., Davis, S. M., Espahbodi, R. y Warne, R. (2013). The audit reporting model: current research synthesis and implications. Auditing: A journal of practice & Theory, 32 (Supplement 1), 323-351.
Myers, J., Myers, L. y Omer, T. (2003). Exploring the term of the auditor-client relationship and the quality of earnings: A case for mandatory auditor rotation? The accounting Review, 78(3), 779-799.
Nguyen, L. A. y Kend, M. (2021). The perceived impact of the KAM reforms on audit reports, audit quality and auditor work practices: stakeholders’ perspectives. Managerial Auditing Journal, 36(3), 437-462.
Oghuvwu, M. E. y Orakwue, A. C. (2019). Determinants of key audit matters disclosure. Accounting and Taxation Review, 3(3), 69-77.
Pinto, I. y Morais, A. I. (2019). What matters in disclosures of key audit matters: Evidence from Europe. Journal of International Financial Management & Accounting, 30(2), 145-162.
Prasad, P. y Chand, P. (2017). The changing face of the auditor’s report: Implications for suppliers and users of financial statements. Australian Accounting Review, 27(4), 348-367.
Public Company Accounting Oversight Board. (2017).AS 3101: The auditors report on an audit of financial statements when the auditor expresses an unqualified opinion. PCAOB. https://pcaobus.org/Standards/Auditing/Pages/AS3101.aspx [Acceso 22.10.21].
Reid, L. C., Carcello, J. V., Li, C. y Neal, T. L. (2019). Impact of auditor report changes on financial reporting quality and audit costs: Evidence from the United Kingdom. Contemporary Accounting Research, 36(3), 1.501-1.539.
Ross, S. A. (1979). The economics of information and the disclosure regulation debate. En F. R. Edwards (ed.), Issues in Financial Regulation. McGraw-Hill.
Schneider, A. y Church, B. K. (2008). The effect of auditors’ internal control opinions on loan decisions. Journal of Accounting and Public Policy, 27(1), 1-18.
Seebeck, A. y Kaya, D. (2021). The Power of Words: An Empirical Analysis of the Communicative Value of Extended Auditor Reports. European Accounting Review. [En prensa].
Sierra-García, L., Gambetta, N., García-Benau, M. A. y Orta Pérez, M. (2019). Understanding the determinants of the magnitude of entity-level risk and account-level risk key audit matters: The case of the United Kingdom. British Accounting Review, 51(3), 227-240.
Simnett, R. y Huggins, A. (2014). Enhancing the auditor’s report: to what extent is there support for the IAASB’s proposed changes? Accounting Horizons, 28(4), 719-747.
Spence, A. M. (1973). Job market signalling. The Quarterly Journal of Economics, 87(3), 355-374.
Sturdivant, F. y Ginter, J. (1977). Corporate social responsiveness, management attitudes and economic performance. California Management Review XIX, 3, 30-9.
Watts, R. L. y Zimmerman, J. L. (1986). Positive Accounting Theory. Prentice Hall.
Wuttichindanon, S. y Issarawornrawanich, P. (2020). Determining factors of key audit matter disclosure in Thailand. Pacific Accounting Review, 32(4), 563-584.
Zeng, Y., Zhang, J. H., Zhang, J. y Zhang, M. (2021). Key audit matters report in China: Their descriptions and implications of audit quality. Accounting Horizons, 35(2), 167-192.
