Audit Reports of Public State-owned Foundations: Determining Factors in Audit Opinions (El Informe de Auditoria de las Fundaciones Publicas Estatales: Factores Determinantes del Tipo de Opinion)

Spanish Journal of Finance and Accounting, Forthcoming

23 Pages Posted: 4 Nov 2012 Last revised: 13 Nov 2012

See all articles by Belen Gonzalez-Diaz

Belen Gonzalez-Diaz

Universidad de Oviedo - Departamento de Contabilidad

Roberto Garcia Fernandez

Universidad de Oviedo - Departamento de Contabilidad

Antonio Lopez Diaz

Universidad de Oviedo - Departamento de Contabilidad

Date Written: November 2, 2012

Abstract

The aim of this paper is to determine the relationship between the opinion given in audit reports of public state-owned foundations and a set of characteristics pertaining to these foundations. Establishing such a relationship should help to improve foundation management and control. To this end a theoretical framework has been built, within which the expected effects of the different audit opinion variables are presented – foundation size, type of auditor, tax-year surplus, previous year’s opinion and which government department the foundation belongs to. Then, in order to develop the study, different logistic regression models have been calculated using a sample of 256 foundations audited over the period 2002 to 2008.

The results highlight the fact that the opinion given in the previous year’s audit reports of public state-owned foundations is the main factor in determining the kind of opinion given in the current year. Other opinion-influencing factors are the government department link, foundation size and type of auditor.

Note: Downloadable document is in Spanish.

Keywords: auditing, non-profit organizations, logistic regression, audit report, audit opinion

JEL Classification: M42, L31

Suggested Citation

Gonzalez-Diaz, Belen and Garcia Fernandez, Roberto and Lopez Diaz, Antonio, Audit Reports of Public State-owned Foundations: Determining Factors in Audit Opinions (El Informe de Auditoria de las Fundaciones Publicas Estatales: Factores Determinantes del Tipo de Opinion) (November 2, 2012). Spanish Journal of Finance and Accounting, Forthcoming, Available at SSRN: https://ssrn.com/abstract=2170473 or http://dx.doi.org/10.2139/ssrn.2170473

Belen Gonzalez-Diaz (Contact Author)

Universidad de Oviedo - Departamento de Contabilidad ( email )

Avenida del Cristo, s/n
Oviedo, Asturias 33071
Spain
0034985182176 (Phone)

Roberto Garcia Fernandez

Universidad de Oviedo - Departamento de Contabilidad ( email )

Avenida del Cristo, s/n
Oviedo, Asturias 33071
Spain
34985103901 (Phone)

Antonio Lopez Diaz

Universidad de Oviedo - Departamento de Contabilidad ( email )

Avenida del Cristo, s/n
Oviedo, Asturias 33071
Spain
985103900 (Phone)

Here is the Coronavirus
related research on SSRN

Paper statistics

Downloads
126
Abstract Views
1,114
rank
252,774
PlumX Metrics