Audit Delay and Motivators of Qualified Opinion in Brazil: A Preliminary Study
Antonio Nunes Pereira
Fucape Business School; Universidade Municipal de São Caetano do Sul (USCS)
February 1, 2009
This study aims to identify the reasons for the reservations on opinions of external auditors and the average time of issue (audit delay) calendar-year 2007. Descriptive and exploratory in nature, the study uses the technique of content analysis and exploratory data analysis, calculation of average simple. The documentation-support used contains the opinions of external auditors in 2007 the powers that formed a database from the information available from 01/01/2008 to 30/06/2008 held in the portal of the Securities Commission (CVM). Were initially identified 655 companies, of which 54, (8%), were subject, focus of this research. The content analysis indicated that 5 (five) more reasons applicants were considered for exceptions: the inconsistency of the lease accounting, the accounting for related controlled by the equity method, companies committed to the continuity, wrongful appropriation of tax credits, and non-confirmation of the balances of some accounts. This finding confirms the existence of institutional variables that impact the Brazilian accounting practices and auditing. For the sample, the average time for delivery of reports with exception was 66 days on the average of 57 days for non-exception reports. This delay of 9 (nine) days apparently confirms the tradition of research in audit delay, agency and timeliness.
Keywords: qualified opinion, Content Analysis. audit delay
JEL Classification: M49, M47working papers series
Date posted: March 29, 2009 ; Last revised: August 18, 2009
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