How has the Change in the Way Auditor’s Determine the Audit Report Date Changed the Meaning of the Audit Report Date? Implications for Academic Research

50 Pages Posted: 8 Feb 2015 Last revised: 26 Mar 2020

See all articles by Steven M. Glover

Steven M. Glover

Brigham Young University

James C. Hansen

Weber State University Goddard School of Business and Economics

Timothy A. Seidel

Brigham Young University

Date Written: March 2020

Abstract

Several regulatory actions and professional standard setting changes occurring since the turn of the century have resulted in a fundamental change to the information captured by the audit report date. Whereas the audit report date previously captured substantial completion of audit fieldwork, which would be days or weeks before a 10-K filing, it now essentially coincides with the date the financial statements are issued to the public (i.e., the 10-K filing date). Academic research continues to rely, however, on the assumption that the audit report date captures the timing of substantial completion of audit fieldwork. In this study, we present evidence of this audit report dating convention change and explore implications for academic research and standard setting.

Keywords: audit report date; audit report delay, audit report lag; audit fieldwork completion

JEL Classification: M41

Suggested Citation

Glover, Steven M. and Hansen, James C. and Seidel, Timothy A., How has the Change in the Way Auditor’s Determine the Audit Report Date Changed the Meaning of the Audit Report Date? Implications for Academic Research (March 2020). Available at SSRN: https://ssrn.com/abstract=2561713 or http://dx.doi.org/10.2139/ssrn.2561713

Steven M. Glover

Brigham Young University ( email )

Provo, UT 84602
United States
801-422-6080 (Phone)
801-422-0621 (Fax)

James C. Hansen (Contact Author)

Weber State University Goddard School of Business and Economics ( email )

1337 Edvalson St. Dept 3803
Ogden, UT 84408
United States
801-626-6433 (Phone)

Timothy A. Seidel

Brigham Young University ( email )

Provo, UT 84602
United States

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