scholarly journals Western Area Power Administration combined power system financial statements, September 30, 1996 and 1995 (with independent auditors` report thereon)

1997 ◽  
Author(s):  
Keyword(s):  
Power System ◽  
Financial Statements ◽  
Western Area ◽  
Independent Auditors

The Influence of Earnings Quality for Restatements and Auditor’s Qualified Opinion

2020 ◽  
Vol 3 ◽  
pp. 53-68
Author(s):  
Adriano Antonio Siqueira ◽  
Fernando Caio Galdi
Keyword(s):  
Regulatory Agency ◽  
Earnings Quality ◽  
Financial Statements ◽  
Audit Report ◽  
Audit Firms ◽  
Independent Auditors

The objective of the present study was to raise the cases of restatements and to evaluate whether these events were associated with the low earnings quality and with the provision of advice with a qualified opinion by audit firms. The results obtained with the analysis indicate that the low earnings quality increases the chances of republishing the financial statements. Additionally, the results indicate that there is no evidence that lower earnings quality increases the chances of issuing a qualified audit report or disapproval of the financial statements by the independent auditors. These results point to a divergence regarding the understanding of earnings quality by the auditors and by the regulatory agency.

scholarly journals Key research issues – a new element in auditor reporting

2019 ◽  
Vol 2019 (101 (157)) ◽  
pp. 79-94 ◽  
Author(s):  
Małgorzata Kutera
Keyword(s):  
Stock Exchange ◽  
Inductive Reasoning ◽  
Synthesis Method ◽  
Financial Statements ◽  
Total Sample ◽  
Consolidated Financial Statements ◽  
Research Issues ◽  
Independent Auditors ◽  
Auditor Reporting ◽  
Verification Techniques

Significant changes are being made to the way independent auditors report audit results. They are generally oriented towards the broader context in which the auditors worked to analyse their conclusions more effectively. What is particularly interesting in this context is the auditor's duty to present Key Audit Matters (KAMs) concerning areas of the highest risk. In light of the above, the purpose of this article is to present the extent to which changes have been implemented in independent auditors' reports from the audits of the financial statements of the largest companies on the Polish market and to identify both the key audit matters as well as the verification procedures applied by auditors. Auditors' opinions from the audits of consolidated financial statements of the 30 largest companies listed on the main market of the Warsaw Stock Exchange for the years 2014–2016 were analysed in detail. The total sample comprised 90 opinions. The research methodology consisted mainly of case studies, with deductive and inductive reasoning used to formulate conclusions based on the analysis and synthesis method. The results of this research indicate that some independent auditors have been implementing new elements of reporting on a current basis. An analysis of the contents of their opinions has shown that the auditors mainly include the estimates of asset impairment, the recognition of sales, the disclosure of claims, disputed matters and con-tingent liabilities as well as accounting for deferred income tax assets in Key Audit Matters. Auditors also give quite detailed reasons for selecting the specific KAM and the verification techniques used.

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