Las características de las asociaciones de la junta directiva con la opinión de auditoría modificada
Main Article Content
Keywords
Opinión de auditoría modificada, calidad de la información financiera, características de la junta directiva, Malasia
Resumen
El objetivo de este estudio es investigar, para el caso de Malasia, la relación entre las características de las
juntas directivas y la probabilidad de que una compañía reciba una opinión de auditoría modificada (como
una medida de la calidad de la información financiera externa de las compañías). Para probar nuestras
hipótesis utilizamos 136 observaciones de empresas por año, las cuales están registradas en Bursa Malasia
para el período 2009-2011, e hicimos un análisis de regresión logística transversal agrupada. La evidencia
que obtuvimos es consistente con la hipótesis de que las empresas con una junta directiva de gran tamaño
y mayor capacidad financiera tienen una probabilidad menor de recibir una opinión de auditoría modificada.
Los resultados hallados en este estudio son consistentes con las reglas del registro del Código de Gobierno
Corporativo de Malasia y los requisitos de la Guía de Gobierno Corporativo de Bursa Malasia, los cuales
consideran la importancia de las juntas directivas como uno de los aspectos del buen gobierno corporativo,
así como su papel fundamental en el reporte de información financiera en Malasia.
Descargas
Los datos de descargas todavía no están disponibles.
Referencias
Abdul Rahman, R., & Mohamed Ali, F.H. (2006). Board, audit committee, culture and earnings management: Malaysian evidence. Managerial Auditing Journal, 21(7), 783-804.
Adams, R.B., Hermalin, B.E. & Weisbach, M.S. {2010). The role of boards of directors in corporate governance: A conceptual framework and survey. Journal of economic literature, Vol. 48 No. 1, pp. 58-107.
Adiloğlu, B., & Vuran, B. (2011).A Multi-criterion Decision Support Methodology for Audit Opinions: The Case of Audit Reports of Distressed Firms in Turkey. Barcelona European Academic Conference. Working Paper. 455-464.
Agrawal, A., & Chadha, S. (2005). Corporate governance and accounting scandals. Journal of Law and Economics, 48(2), 371-406.
Al-Najjar, B. (2011). The Determinants of Audit Committee Independence and Activity: Evidence from the UK. International Journal of Auditing, 15(2), 191–203.
Alkilani, S.Z., Hussin, W.N.W., & Salim, B. (2019a). The Influence of Audit Committee Characteristics on Modified Audit Opinion in Jordan. Journal of Finance and Accounting, 7(3), 95-106.
Alkilani, S.Z., Hussin, W.N.W., & Salim, B. (2019b). Impact of Ownership Characteristics on Modified Audit Opinion in Jordan. International Journal of Accounting, Finance and Risk Management, 4(3), 71.
Almujamed, H. I., & Alfraih, M. M. (2020). Corporate governance and value relevance of accounting information. International Journal of Ethics and Systems, 36(2), 249-262.
Almutairi, A. R., & Quttainah, M. A. (2020). Foreign directors and corporate governance in Islamic banks. Journal of Islamic Accounting and Business Research, 11(4), 765-791.
Alshirah, M. H., Rahman, A. A., & Mustapa, I. R. (2020). Board of directors' characteristics and corporate risk disclosure: the moderating role of family ownership. EuroMed Journal of Business. Forthcoming.
Basioudis, I.G., Papakonstantinou, E., & Geiger, M.A. (2008). Audit Fees, Non-Audit Fees and Auditor Going-Concern Reporting Decisions in the United Kingdom. ABACUS, 44 (3), 284-309.
Bedard, J., Chtourou, S.M. & Courteau, L. (2004). The effects of audit committee expertise, independence and activity on aggressive earnings management. Auditing: A Journal of Practice & Theory, 23(2), 13-35.
Behn, B.K., Kaplan, S.E., & Krumwiede, K.R. (2001). Further evidence on the auditor’s going concern report: The influence of management plans. Auditing: A Journal of Practice & Theory, 20(1): 13-28.
Bell, T.B., Landsman, W.R., & Shackelford, D.A. (2001). Auditors’ perceived business risk and audit fees: Analysis and evidence. Journal of Accounting Research (June): 35–43.
Bennouri, M., Nekhili, M., & Touron, P. (2015). Does auditor reputation “discourage” related-party transactions? The French case. Auditing: A Journal of Practice & Theory, 34(4), 1-32. Borokhovich, K.A., Brunarski, K., Harman, Y., & Kehr, J.B. (2005). Dividends, corporate monitors, and agency costs. The Financial Review, 40(1), 37-65.
Bradbury, M., Mak, Y., & Tan, S. (2006). Board characteristics, audit committee characteristics and abnormal accruals. Pacific Accounting Review, 18(2), 47–68.
Bursa Malaysia Corporate Governance Guide. Kuala Lumpur, Bursa Malaysia.
Carcello, J.V., Hermanson, D.R., Neal, T.L., & Riley, J.R.A. (2002). Board Characteristics and Audit Fees. Contemporary Accounting Research, 19(3), 365-384.
Carcello, J., & Neal, T. (2000). Audit committee composition and auditor reporting. Accounting Review, 75(4), 453-467.
Chang, C. (2009). The corporate governance characteristics of financially distressed firms: Evidence from Taiwan. Journal of American Academy of Business, Cambridge, 15(1), 125-132.
Charitou, A., Louca, C., & Vafeas, N. (2007). Boards, ownership structure and involuntary delisting from the New York Stock Exchange. Journal of Accounting and Public Policy, 26(2), 249-262.
Che Haat, M.H., Abdul Rahman, R., & Mahenthiran, S. (2008). Corporate governance, transparency and performance of Malaysian companies. Managerial Auditing Journal, 23(8), 744-778.
Chen, C. J. P., Chen, S., & Su, X. (2001). Profitability regulation, earnings management, and modified audit opinions: Evidence from China. Auditing: A Journal of Practice & Theory, 20(2), 9–30.
Chen, K.C., & Church, B.K. (1992). Default on debt obligations and the issuance of going-concern opinions. Auditing: A Journal of Practice and Theory, 11(2), 30–49.
Chen, G. Z. (2020). Related Party Transactions and Opinion Shopping. Journal of Applied Finance and Banking, 10(1), 173-202.
Chu, E.Y., & Cheah, K.G. (2006). Does ownership structure matter? Evidence from Malaysian equity market. Corporate Ownership & Control, 4(1), 77-90.
Cohen, J.R., Krishnamoorthy, G., & Wright, A.M. (2008). Form versus Substance: The Implications for Auditing Practice and Research of Alternative Perspectives on Corporate Governance. Auditing: A Journal of Practice & Theory, 27(2), 181-198.
Cohen, J., Krishnamoorthy, G., & Wright, A. (2004). The corporate governance mosaic and financial reporting quality. Journal of Accounting Literature, 23, 87–152.
Conger, J.A., Finegold, D., & Lawler, E.E. III. (1998). Appraising boardroom performance. Harvard Business Review 76 (January-February): 136-48.
Cooper, D.R., & Schindler, P.S. (2003). Business research methods. 8th ed. Boston, U.S.: McGraw-Hill, Irwin.
Darus, F., & Mohamad, A. (2011). Corporate Governance and Corporate Failure in the Context of Agency Theory. The Journal of American Academy of Business, Cambridge, 17(1), 125-132.
DeFond, M.L., Raghunandan, K., & Subramanyam, K.R. (2002). Do non-audit service fees impair auditor independence? Evidence from going concern audit opinions. Journal of Accounting Research, 40(4), 1247-1274.
Deng, X., &Wang, Z. (2006). Ownership structure and financial distress: Evidence from public listed company in China. International Journal of Management, 23(3), 486-503.
Elfouzi, N. H., & Zarai, M. A. (2009). Impact of the Opinion Given out By the Auditor and of His Reputation on Discretionary Accruals. International Review of Business Research Papers, 5 (3), 1-11.
Elliot, R. K. (1995). The future of assurance services: Implications for academia, Accounting Horizons, 9(4), 118-127.
Fama, E.F. (1980). Agency problems and the theory of the firms. Journal of Political Economy, 88(2). 288-307.
Fama, E.F., & Jensen, M.C. (1983). Separation of ownership and control. Journal of Law & Economics, 26(2), 301–325.
Farinha, J., & Viana, L.F. (2009). Board Structure and Modified Audit Opinions: Evidence from the Portuguese Stock Exchange. International Journal of Auditing, 13(3), 237–258.
Fernández-Temprano, M. A., & Tejerina-Gaite, F. (2020). Types of director, board diversity and firm performance. Corporate Governance: The International Journal of Business in Society, 20 (2), 324-342.
Fich, E.M., & Shivdasani, A. (2006). Are Busy Boards Effective Monitors? Journal of Finance, 61(2), 689-724.
Firth, M., Fung, P.M.Y., & Rui, O.M. (2007). Ownership, two-tier board structure, and the informativeness of earnings: Evidence from China. Journal of Accounting and Public Policy, 26(4), 463-496.
Foo, Y.B., & Mat Zain, M. (2010). Do Board Characteristics affect Information Asymmetry? Evidence from Malaysia. Working paper.
Francis, J. (1984). The effect of audit firm size on audit price: a study of the Australian market. Journal of Accounting and Economics, 6(2), 133-151.
Garcı´a Lara, J.M., Garcı´a Osma B., & Pen˜alva, F. (2009). Accounting Conservatism and Corporate Governance. Review of Accounting Studies, 14(1), 161–201.
Geiger, M., & Rama, D. (2003). Audit fees, non-audit fees, and auditor reporting on stressed companies. Auditing: A Journal of Practice & Theory 22(2), 53– 69.
George, N. (2003). Audit committees: The solution to quality financial reporting? The CPA Journal, 73(12), 6-9.
Goh, B.W. (2009). Audit Committees, Boards of Directors, and Remediation of Material Weaknesses in Internal Control. Contemporary Accounting Research 26(2), 549-579.
Greene, W. (1999). Econometric analysis. 4th ed. New York, U.S.: Prentice-Hall, Inc.
Gwilliam, D. R., & Macve, R. (1982). The view from the top on today’s auditing evolution. Accountancy, 93(1071), 116-121.
Hair, J.F., Black, W.C., Babin, B.J., Anderson, R.E., & Tatham, R.J. (2006).
Multivariate data analysis. (6th Ed.). New Jersey: Pearson International Edition.
Hair, J.F., Anderson, R.E., Tatham, R.L., & Black, W.C. (1995). Multivariate data analysis. 4th ed. Englewood Cliffs, U.S.: Prentice-Hall, Inc.
Hope, Ole-Kristian., & Langli, J. C. (2010). Auditor Independence in a Private Firm and Low Litigation Risk Setting. The Accounting Review, 85(2), 573–605.
Hashim, U.J., & Abdul Rahman, R. (2011). Internal Corporate Governance Mechanisms and Audit Report Lag: A Study of Malaysian Listed Companies. Corporate Board: Role, Duties & Composition, 8(2), 147-162.
Iskandar, T.M., Rahmat, M.M., Mohd Noor, N., Saleh, N.M., & Ali, M.J. (2011). Corporate governance and going concern problems: evidence from Malaysia. Int. J. Corporate Governance, 2(2),119-139.
Jensen, M.C. (1993). The modern industrial revolution, exit, and the failure of internal control systems. The Journal of Finance, 48(3), 831-880.
Jensen, M., & Meckling, W. (1976). Theory of the firm: Managerial behavior, agency costs, and capital structure. Journal of financial economics, 3(4), 305-360.
Johari, N.H., Mohd Saleh, N., Jaffar, R., & Sabri Hassan, M. (2008). The Influence of Board Independence, Competency and Ownership on Earnings Management in Malaysia. Journal of Economics and Management, 2(2), 281-306.
Johl, S., Jubb, C.A., & Houghton, K.A. (2007). Earnings management and the audit opinion: evidence from Malaysia. Managerial Auditing Journal, 22(7), 688 - 715.
Johl, S.K., Subramaniam, N., & Mat Zain, N. (2012).Audit Committee and CEO Ethnicity and Audit fees: Some Malaysian evidence. The International Journal of Accounting, 47(3), 302-332.
Kamardin, H., Abdul Latif, R., Taufil Mohd, K.N., & Che-Adam, N. (2012). Are Multiple Directorships Benefits or Ccosts to Malaysian Listed Companies? International Conference on Management, Economics and Finance (ICMEF 2012), Working Paper. 747-764.
Kaplan, S.E., & Williams, D.D. (2013). Do Going Concern Audit Reports Protect Auditors from Litigation? A Simultaneous Equations Approach. The Accounting Review, 88(1), 199-232.
Kiel, G.C., & Nicholson, G.J. (2003). Board Composition and Corporate Performance: how the Australian experience informs contrasting theories of corporate governance. Corporate Governance,11(3),189-205.
Lagos-Cortés, D.I.Ó.G.E.N.E.S., Soto-Echeverry, N.C., Betancourt-Ramírez, J.B., Enríquez-Yagüe, J.O., & Gómez-Betancourt, G.O. N.Z.A.L.O. (2017). Size and independence of the board of directors and its relationship with economic performance: an analysis for family and non-family businesses. AD-minister, (31), 5-23.
Lin, S., Pope, P., & Young, S. (2003). Stock market reaction to the appointment of outside directors, Journal of Business, Finance and Accounting, 30, 351–82.
Lin J.W., & Hwang, M.I. (2010). Audit Quality, Corporate Governance, and Earnings Management: A Meta-Analysis. International Journal of Auditing,14(1), 57–77.
Lorca, C., Sa´nchez-Ballesta, J.P., & Garcı´a-Meca, E. (2011). Board Effectiveness and Cost of Debt. Journal of Business Ethics, 100(4), 613–631.
Malaysian Code on Corporate Governance (2000). Finance Committee on Corporate Governance, Securities Commission, Kuala Lumpur.
Malaysian Code on Corporate Governance, Revised (2007), Kuala Lumpur, Securities Commission.
Malek, M., & Che Ahmad, A. (2011).The Relationships between Director-Auditor Link and Audit Opinion. Asian Journal of Finance & Accounting, 3(1).
Marlin, D., & Geiger, S.W. (2011).The Composition of Corporate Boards of Directors: Pre-And Post-Sarbanes-Oxley. Journal of Business & Economics Research, 9(2), 73-75.
Menard, S. (2002). Applied Logistic Regression Analysis. 2nd edition. Sage University Paper series on Quantitative Applications in the Social Sciencies. No.07-106). Beverly Halls, CA: Sage Publications.
Miller, S.E. (2009). Governance mechanisms as moderators of agency costs in a pre-SOX environment. Journal of Business & Economics Research, 7(10), 15-32.
Moalla, H. (2017). Audit report qualification/modification: Impact of financial variables in Tunisia. Journal of Accounting in Emerging Economies, 7 (4), 468-485.
Moalla, H., & Baili, R. (2019). Credit ratings and audit opinion: evidence from Tunisia. Journal of Accounting in Emerging Economies, 9(1), 103-125.
Omer, W.K.H., & Al-Qadasi, A.A. (2020). Board of directors’ effectiveness and monitoring costs. The role of family control. Malaysian evidence. Managerial Auditing Journal, 35(4), 477-497.
Pallant. J. (2007). Survival manual a step by step guide to data analysis using SPSS for windows (ThirdEdition). New York: Mc-Graw Hill Education.
Park, Y.W., & Shin, H.H. (2004). Board composition and earnings management in Canada. Journal of Corporate Finance, 10(3), 431-457.
Pearce, J.A., & Zahra, S.A. (1992). Board composition from a strategic contingency perspective. Journal of Management Studies, 29(4), 411-438.
Ponnu, C.H., & Karthigeyan, R.M. (2010). Board independence and corporate performance: Evidence from Malaysia. African Journal of Business Management, 4(6), 858-868.
Porter, B., Simon, J., & Hatherly, D. (2003). Principles of External Auditing (Second Edition). England: John Wiley & Sons.
Pucheta-Martinez, M.C., & de Fuentes, C. (2007). The Impact of Audit Committee Characteristics on the Enhancement of the Quality of Financial Reporting: an empirical study in the Spanish context. An International Review, Corporate Governance Journal, 15(6), 1394-1412.
Puni, A., & Anlesinya, A. (2020). Corporate governance mechanisms and firm performance in a developing country. International Journal of Law and Management, 62(2), 147-169.
Rahmat. M.M., Iskandar, T.M., & Saleh, N.M. (2009). Audit committee characteristics in financially distressed and non-distressed companies. Managerial Auditing Journal, 24 (7), 624-638.
Rusmin, R., Tower, G., Brown, A., & der Zahn, M.V. (2009). Audit Quality, Monitoring Mechanisms and Auditor Reporting Behavior. Working paper.
Sanchez-Ballesta, J.P., & García-Meca, E. (2005). Audit qualifications and corporate governance in Spanish listed firms. Managerial Auditing Journal, 20(7), 725–738.
Song, J., & Windram, B. (2004). Benchmarking Audit Committee Effectiveness in Financial Reporting. International Journal of Auditing, 8(3), 195-205.
Sridharan, U. V., Caines, W. R., McMillan, J., & Summers, S. (2002). Financial statement transparency and auditor responsibility: Enron and Andersen. International Journal of Auditing, 6(3), 277-286.
Stanley, J., De Zoort, F. T., & Taylor, G. (2009). The association between insider trading surrounding going concern audit opinions and future bankruptcy. Managerial Auditing Journal, 24(3), 290-312.
Sundgren, S. (2009). Perceived audit quality, modified audit opinions and the likelihood of liquidating bankruptcy among financially weak firms. International Journal of Auditing, 13(3), 203-221.
Tabachnick, B.G., & Fidell, L.S. (2013). Using Multivariate Statistics.16th edn.(Pearson).
Thenmozhi, M., & Sasidharan, A. (2020). Does board independence enhance firm value of state-owned enterprises? Evidence from India and China. European Business Review. Forthcoming.
Tsipouridou, M., & Spathis, C. (2014, March). Audit opinion and earnings management: Evidence from Greece. Accounting Forum, 38, (1), 38-54. Taylor & Francis.
Vafeas, N. (1999). Board meeting frequency and firm performance. Journal of Financial Economics, 53(1), 113-142.
Vafeas, N., & Theodorou, E. (1998). The relationship between board structure and firm performance in the U.K. British Accounting Review, 30(4), 383-407.
Wallman, S. M. H. (1995). The future of accounting and disclosure in an evolving world: The need for dramatic change. Accounting Horizons, 9(3), 81-91.
Watkins, A. L., Hillison, W., & Morecroft, S. E. (2004). Audit quality: A synthesis of theory and empirical evidence. Journal of Accounting Literature,23(1), 153-193.
Watts, R.L., & Zimmerman, J.L. (1986). Positive Accounting Theory. Prentice Hall, Englewood Cliffs, NJ.
Yatim, P. (2011). Underpricing and Board Structures: An Investigation of Malaysian Initial Public Offerings (IPOs). Asian Academy of Management Journal of Accounting and Finance, 7(1), 73-93.
Yatim, P., Kent, P. & Clarkson, P. (2006). Governance Structure, Ethnicity, and Audit Fees of Malaysian Listed Firms. Managerial Auditing Journal, 21(7), 757-782.
Xie, B., Davidson, W.N., & DaDalt, P.J. (2003). Earnings management and corporate governance: the role of the board and the audit committee. Journal of corporate finance, 9(3), 295-316.
Zainal Abidin, Z., Kamal, N.M., & Jusoff, K. (2009). Board structure and corporate performance in Malaysia. International Journal of Economics and Finance, 1(1), 150-164.
Zhang, Y., Zhou, J. & Zhou, N. (2007). Audit committee quality, auditor independence, and internal control weaknesses. Journal of Accounting and Public Policy, 26 (3): 300-327.
Adams, R.B., Hermalin, B.E. & Weisbach, M.S. {2010). The role of boards of directors in corporate governance: A conceptual framework and survey. Journal of economic literature, Vol. 48 No. 1, pp. 58-107.
Adiloğlu, B., & Vuran, B. (2011).A Multi-criterion Decision Support Methodology for Audit Opinions: The Case of Audit Reports of Distressed Firms in Turkey. Barcelona European Academic Conference. Working Paper. 455-464.
Agrawal, A., & Chadha, S. (2005). Corporate governance and accounting scandals. Journal of Law and Economics, 48(2), 371-406.
Al-Najjar, B. (2011). The Determinants of Audit Committee Independence and Activity: Evidence from the UK. International Journal of Auditing, 15(2), 191–203.
Alkilani, S.Z., Hussin, W.N.W., & Salim, B. (2019a). The Influence of Audit Committee Characteristics on Modified Audit Opinion in Jordan. Journal of Finance and Accounting, 7(3), 95-106.
Alkilani, S.Z., Hussin, W.N.W., & Salim, B. (2019b). Impact of Ownership Characteristics on Modified Audit Opinion in Jordan. International Journal of Accounting, Finance and Risk Management, 4(3), 71.
Almujamed, H. I., & Alfraih, M. M. (2020). Corporate governance and value relevance of accounting information. International Journal of Ethics and Systems, 36(2), 249-262.
Almutairi, A. R., & Quttainah, M. A. (2020). Foreign directors and corporate governance in Islamic banks. Journal of Islamic Accounting and Business Research, 11(4), 765-791.
Alshirah, M. H., Rahman, A. A., & Mustapa, I. R. (2020). Board of directors' characteristics and corporate risk disclosure: the moderating role of family ownership. EuroMed Journal of Business. Forthcoming.
Basioudis, I.G., Papakonstantinou, E., & Geiger, M.A. (2008). Audit Fees, Non-Audit Fees and Auditor Going-Concern Reporting Decisions in the United Kingdom. ABACUS, 44 (3), 284-309.
Bedard, J., Chtourou, S.M. & Courteau, L. (2004). The effects of audit committee expertise, independence and activity on aggressive earnings management. Auditing: A Journal of Practice & Theory, 23(2), 13-35.
Behn, B.K., Kaplan, S.E., & Krumwiede, K.R. (2001). Further evidence on the auditor’s going concern report: The influence of management plans. Auditing: A Journal of Practice & Theory, 20(1): 13-28.
Bell, T.B., Landsman, W.R., & Shackelford, D.A. (2001). Auditors’ perceived business risk and audit fees: Analysis and evidence. Journal of Accounting Research (June): 35–43.
Bennouri, M., Nekhili, M., & Touron, P. (2015). Does auditor reputation “discourage” related-party transactions? The French case. Auditing: A Journal of Practice & Theory, 34(4), 1-32. Borokhovich, K.A., Brunarski, K., Harman, Y., & Kehr, J.B. (2005). Dividends, corporate monitors, and agency costs. The Financial Review, 40(1), 37-65.
Bradbury, M., Mak, Y., & Tan, S. (2006). Board characteristics, audit committee characteristics and abnormal accruals. Pacific Accounting Review, 18(2), 47–68.
Bursa Malaysia Corporate Governance Guide. Kuala Lumpur, Bursa Malaysia.
Carcello, J.V., Hermanson, D.R., Neal, T.L., & Riley, J.R.A. (2002). Board Characteristics and Audit Fees. Contemporary Accounting Research, 19(3), 365-384.
Carcello, J., & Neal, T. (2000). Audit committee composition and auditor reporting. Accounting Review, 75(4), 453-467.
Chang, C. (2009). The corporate governance characteristics of financially distressed firms: Evidence from Taiwan. Journal of American Academy of Business, Cambridge, 15(1), 125-132.
Charitou, A., Louca, C., & Vafeas, N. (2007). Boards, ownership structure and involuntary delisting from the New York Stock Exchange. Journal of Accounting and Public Policy, 26(2), 249-262.
Che Haat, M.H., Abdul Rahman, R., & Mahenthiran, S. (2008). Corporate governance, transparency and performance of Malaysian companies. Managerial Auditing Journal, 23(8), 744-778.
Chen, C. J. P., Chen, S., & Su, X. (2001). Profitability regulation, earnings management, and modified audit opinions: Evidence from China. Auditing: A Journal of Practice & Theory, 20(2), 9–30.
Chen, K.C., & Church, B.K. (1992). Default on debt obligations and the issuance of going-concern opinions. Auditing: A Journal of Practice and Theory, 11(2), 30–49.
Chen, G. Z. (2020). Related Party Transactions and Opinion Shopping. Journal of Applied Finance and Banking, 10(1), 173-202.
Chu, E.Y., & Cheah, K.G. (2006). Does ownership structure matter? Evidence from Malaysian equity market. Corporate Ownership & Control, 4(1), 77-90.
Cohen, J.R., Krishnamoorthy, G., & Wright, A.M. (2008). Form versus Substance: The Implications for Auditing Practice and Research of Alternative Perspectives on Corporate Governance. Auditing: A Journal of Practice & Theory, 27(2), 181-198.
Cohen, J., Krishnamoorthy, G., & Wright, A. (2004). The corporate governance mosaic and financial reporting quality. Journal of Accounting Literature, 23, 87–152.
Conger, J.A., Finegold, D., & Lawler, E.E. III. (1998). Appraising boardroom performance. Harvard Business Review 76 (January-February): 136-48.
Cooper, D.R., & Schindler, P.S. (2003). Business research methods. 8th ed. Boston, U.S.: McGraw-Hill, Irwin.
Darus, F., & Mohamad, A. (2011). Corporate Governance and Corporate Failure in the Context of Agency Theory. The Journal of American Academy of Business, Cambridge, 17(1), 125-132.
DeFond, M.L., Raghunandan, K., & Subramanyam, K.R. (2002). Do non-audit service fees impair auditor independence? Evidence from going concern audit opinions. Journal of Accounting Research, 40(4), 1247-1274.
Deng, X., &Wang, Z. (2006). Ownership structure and financial distress: Evidence from public listed company in China. International Journal of Management, 23(3), 486-503.
Elfouzi, N. H., & Zarai, M. A. (2009). Impact of the Opinion Given out By the Auditor and of His Reputation on Discretionary Accruals. International Review of Business Research Papers, 5 (3), 1-11.
Elliot, R. K. (1995). The future of assurance services: Implications for academia, Accounting Horizons, 9(4), 118-127.
Fama, E.F. (1980). Agency problems and the theory of the firms. Journal of Political Economy, 88(2). 288-307.
Fama, E.F., & Jensen, M.C. (1983). Separation of ownership and control. Journal of Law & Economics, 26(2), 301–325.
Farinha, J., & Viana, L.F. (2009). Board Structure and Modified Audit Opinions: Evidence from the Portuguese Stock Exchange. International Journal of Auditing, 13(3), 237–258.
Fernández-Temprano, M. A., & Tejerina-Gaite, F. (2020). Types of director, board diversity and firm performance. Corporate Governance: The International Journal of Business in Society, 20 (2), 324-342.
Fich, E.M., & Shivdasani, A. (2006). Are Busy Boards Effective Monitors? Journal of Finance, 61(2), 689-724.
Firth, M., Fung, P.M.Y., & Rui, O.M. (2007). Ownership, two-tier board structure, and the informativeness of earnings: Evidence from China. Journal of Accounting and Public Policy, 26(4), 463-496.
Foo, Y.B., & Mat Zain, M. (2010). Do Board Characteristics affect Information Asymmetry? Evidence from Malaysia. Working paper.
Francis, J. (1984). The effect of audit firm size on audit price: a study of the Australian market. Journal of Accounting and Economics, 6(2), 133-151.
Garcı´a Lara, J.M., Garcı´a Osma B., & Pen˜alva, F. (2009). Accounting Conservatism and Corporate Governance. Review of Accounting Studies, 14(1), 161–201.
Geiger, M., & Rama, D. (2003). Audit fees, non-audit fees, and auditor reporting on stressed companies. Auditing: A Journal of Practice & Theory 22(2), 53– 69.
George, N. (2003). Audit committees: The solution to quality financial reporting? The CPA Journal, 73(12), 6-9.
Goh, B.W. (2009). Audit Committees, Boards of Directors, and Remediation of Material Weaknesses in Internal Control. Contemporary Accounting Research 26(2), 549-579.
Greene, W. (1999). Econometric analysis. 4th ed. New York, U.S.: Prentice-Hall, Inc.
Gwilliam, D. R., & Macve, R. (1982). The view from the top on today’s auditing evolution. Accountancy, 93(1071), 116-121.
Hair, J.F., Black, W.C., Babin, B.J., Anderson, R.E., & Tatham, R.J. (2006).
Multivariate data analysis. (6th Ed.). New Jersey: Pearson International Edition.
Hair, J.F., Anderson, R.E., Tatham, R.L., & Black, W.C. (1995). Multivariate data analysis. 4th ed. Englewood Cliffs, U.S.: Prentice-Hall, Inc.
Hope, Ole-Kristian., & Langli, J. C. (2010). Auditor Independence in a Private Firm and Low Litigation Risk Setting. The Accounting Review, 85(2), 573–605.
Hashim, U.J., & Abdul Rahman, R. (2011). Internal Corporate Governance Mechanisms and Audit Report Lag: A Study of Malaysian Listed Companies. Corporate Board: Role, Duties & Composition, 8(2), 147-162.
Iskandar, T.M., Rahmat, M.M., Mohd Noor, N., Saleh, N.M., & Ali, M.J. (2011). Corporate governance and going concern problems: evidence from Malaysia. Int. J. Corporate Governance, 2(2),119-139.
Jensen, M.C. (1993). The modern industrial revolution, exit, and the failure of internal control systems. The Journal of Finance, 48(3), 831-880.
Jensen, M., & Meckling, W. (1976). Theory of the firm: Managerial behavior, agency costs, and capital structure. Journal of financial economics, 3(4), 305-360.
Johari, N.H., Mohd Saleh, N., Jaffar, R., & Sabri Hassan, M. (2008). The Influence of Board Independence, Competency and Ownership on Earnings Management in Malaysia. Journal of Economics and Management, 2(2), 281-306.
Johl, S., Jubb, C.A., & Houghton, K.A. (2007). Earnings management and the audit opinion: evidence from Malaysia. Managerial Auditing Journal, 22(7), 688 - 715.
Johl, S.K., Subramaniam, N., & Mat Zain, N. (2012).Audit Committee and CEO Ethnicity and Audit fees: Some Malaysian evidence. The International Journal of Accounting, 47(3), 302-332.
Kamardin, H., Abdul Latif, R., Taufil Mohd, K.N., & Che-Adam, N. (2012). Are Multiple Directorships Benefits or Ccosts to Malaysian Listed Companies? International Conference on Management, Economics and Finance (ICMEF 2012), Working Paper. 747-764.
Kaplan, S.E., & Williams, D.D. (2013). Do Going Concern Audit Reports Protect Auditors from Litigation? A Simultaneous Equations Approach. The Accounting Review, 88(1), 199-232.
Kiel, G.C., & Nicholson, G.J. (2003). Board Composition and Corporate Performance: how the Australian experience informs contrasting theories of corporate governance. Corporate Governance,11(3),189-205.
Lagos-Cortés, D.I.Ó.G.E.N.E.S., Soto-Echeverry, N.C., Betancourt-Ramírez, J.B., Enríquez-Yagüe, J.O., & Gómez-Betancourt, G.O. N.Z.A.L.O. (2017). Size and independence of the board of directors and its relationship with economic performance: an analysis for family and non-family businesses. AD-minister, (31), 5-23.
Lin, S., Pope, P., & Young, S. (2003). Stock market reaction to the appointment of outside directors, Journal of Business, Finance and Accounting, 30, 351–82.
Lin J.W., & Hwang, M.I. (2010). Audit Quality, Corporate Governance, and Earnings Management: A Meta-Analysis. International Journal of Auditing,14(1), 57–77.
Lorca, C., Sa´nchez-Ballesta, J.P., & Garcı´a-Meca, E. (2011). Board Effectiveness and Cost of Debt. Journal of Business Ethics, 100(4), 613–631.
Malaysian Code on Corporate Governance (2000). Finance Committee on Corporate Governance, Securities Commission, Kuala Lumpur.
Malaysian Code on Corporate Governance, Revised (2007), Kuala Lumpur, Securities Commission.
Malek, M., & Che Ahmad, A. (2011).The Relationships between Director-Auditor Link and Audit Opinion. Asian Journal of Finance & Accounting, 3(1).
Marlin, D., & Geiger, S.W. (2011).The Composition of Corporate Boards of Directors: Pre-And Post-Sarbanes-Oxley. Journal of Business & Economics Research, 9(2), 73-75.
Menard, S. (2002). Applied Logistic Regression Analysis. 2nd edition. Sage University Paper series on Quantitative Applications in the Social Sciencies. No.07-106). Beverly Halls, CA: Sage Publications.
Miller, S.E. (2009). Governance mechanisms as moderators of agency costs in a pre-SOX environment. Journal of Business & Economics Research, 7(10), 15-32.
Moalla, H. (2017). Audit report qualification/modification: Impact of financial variables in Tunisia. Journal of Accounting in Emerging Economies, 7 (4), 468-485.
Moalla, H., & Baili, R. (2019). Credit ratings and audit opinion: evidence from Tunisia. Journal of Accounting in Emerging Economies, 9(1), 103-125.
Omer, W.K.H., & Al-Qadasi, A.A. (2020). Board of directors’ effectiveness and monitoring costs. The role of family control. Malaysian evidence. Managerial Auditing Journal, 35(4), 477-497.
Pallant. J. (2007). Survival manual a step by step guide to data analysis using SPSS for windows (ThirdEdition). New York: Mc-Graw Hill Education.
Park, Y.W., & Shin, H.H. (2004). Board composition and earnings management in Canada. Journal of Corporate Finance, 10(3), 431-457.
Pearce, J.A., & Zahra, S.A. (1992). Board composition from a strategic contingency perspective. Journal of Management Studies, 29(4), 411-438.
Ponnu, C.H., & Karthigeyan, R.M. (2010). Board independence and corporate performance: Evidence from Malaysia. African Journal of Business Management, 4(6), 858-868.
Porter, B., Simon, J., & Hatherly, D. (2003). Principles of External Auditing (Second Edition). England: John Wiley & Sons.
Pucheta-Martinez, M.C., & de Fuentes, C. (2007). The Impact of Audit Committee Characteristics on the Enhancement of the Quality of Financial Reporting: an empirical study in the Spanish context. An International Review, Corporate Governance Journal, 15(6), 1394-1412.
Puni, A., & Anlesinya, A. (2020). Corporate governance mechanisms and firm performance in a developing country. International Journal of Law and Management, 62(2), 147-169.
Rahmat. M.M., Iskandar, T.M., & Saleh, N.M. (2009). Audit committee characteristics in financially distressed and non-distressed companies. Managerial Auditing Journal, 24 (7), 624-638.
Rusmin, R., Tower, G., Brown, A., & der Zahn, M.V. (2009). Audit Quality, Monitoring Mechanisms and Auditor Reporting Behavior. Working paper.
Sanchez-Ballesta, J.P., & García-Meca, E. (2005). Audit qualifications and corporate governance in Spanish listed firms. Managerial Auditing Journal, 20(7), 725–738.
Song, J., & Windram, B. (2004). Benchmarking Audit Committee Effectiveness in Financial Reporting. International Journal of Auditing, 8(3), 195-205.
Sridharan, U. V., Caines, W. R., McMillan, J., & Summers, S. (2002). Financial statement transparency and auditor responsibility: Enron and Andersen. International Journal of Auditing, 6(3), 277-286.
Stanley, J., De Zoort, F. T., & Taylor, G. (2009). The association between insider trading surrounding going concern audit opinions and future bankruptcy. Managerial Auditing Journal, 24(3), 290-312.
Sundgren, S. (2009). Perceived audit quality, modified audit opinions and the likelihood of liquidating bankruptcy among financially weak firms. International Journal of Auditing, 13(3), 203-221.
Tabachnick, B.G., & Fidell, L.S. (2013). Using Multivariate Statistics.16th edn.(Pearson).
Thenmozhi, M., & Sasidharan, A. (2020). Does board independence enhance firm value of state-owned enterprises? Evidence from India and China. European Business Review. Forthcoming.
Tsipouridou, M., & Spathis, C. (2014, March). Audit opinion and earnings management: Evidence from Greece. Accounting Forum, 38, (1), 38-54. Taylor & Francis.
Vafeas, N. (1999). Board meeting frequency and firm performance. Journal of Financial Economics, 53(1), 113-142.
Vafeas, N., & Theodorou, E. (1998). The relationship between board structure and firm performance in the U.K. British Accounting Review, 30(4), 383-407.
Wallman, S. M. H. (1995). The future of accounting and disclosure in an evolving world: The need for dramatic change. Accounting Horizons, 9(3), 81-91.
Watkins, A. L., Hillison, W., & Morecroft, S. E. (2004). Audit quality: A synthesis of theory and empirical evidence. Journal of Accounting Literature,23(1), 153-193.
Watts, R.L., & Zimmerman, J.L. (1986). Positive Accounting Theory. Prentice Hall, Englewood Cliffs, NJ.
Yatim, P. (2011). Underpricing and Board Structures: An Investigation of Malaysian Initial Public Offerings (IPOs). Asian Academy of Management Journal of Accounting and Finance, 7(1), 73-93.
Yatim, P., Kent, P. & Clarkson, P. (2006). Governance Structure, Ethnicity, and Audit Fees of Malaysian Listed Firms. Managerial Auditing Journal, 21(7), 757-782.
Xie, B., Davidson, W.N., & DaDalt, P.J. (2003). Earnings management and corporate governance: the role of the board and the audit committee. Journal of corporate finance, 9(3), 295-316.
Zainal Abidin, Z., Kamal, N.M., & Jusoff, K. (2009). Board structure and corporate performance in Malaysia. International Journal of Economics and Finance, 1(1), 150-164.
Zhang, Y., Zhou, J. & Zhou, N. (2007). Audit committee quality, auditor independence, and internal control weaknesses. Journal of Accounting and Public Policy, 26 (3): 300-327.
Article Sidebar
Publicado
dic 28, 2020
Article Details
Cómo citar
Omer, W. K. H., Aljaaidi, K. S., Md Yusof, M. ‘Atef, & Selamat, M. H. (2020). Las características de las asociaciones de la junta directiva con la opinión de auditoría modificada. AD-Minister, (37), 5–34. https://doi.org/10.17230/Ad-minister.37.1
Número
Sección
Artículos de investigación
Biografía del autor/a
Waddah Kamal Hassan Omer, Universidad de Aden, Yemen
PhD University Utara Malaysia. Departamento de Contabilidad, Facultad de Administración de Empresas Northern Border University, Arar, Arabia Saudita, y Departamento de Contabilidad, Facultad de Ciencias Administrativas, Universidad de Aden, Yemen Correo electrónico: waddahkam@yahoo.com ORCID: https://orcid.org/0000- 0001-9777-7497
Khaled Salmen Aljaaidi, Universidad Príncipe Sattam bin Abdulaziz
PhD University Utara Malaysia. Departamento de Contabilidad, Facultad de Administración de Empresas, Universidad Príncipe Sattam bin Abdulaziz Correo electrónico: k.aljaaidi@psau.edu.sa
ORCID: https://orcid.org/0000-0002-0661-6813
Mohd ‘Atef Md Yusof, Universiti Utara Malaysia
PhD University Utara Malaysia. Escuela de Contabilidad, Facultad de Negocios Universiti Utara Malaysia 06010 Sintok, Kedah, Malasia. Correo electrónico: atef@uum.edu.my
Mohamad Hisyam Selamat, Universidad SEGi, Petaling Jaya, Malasia
PhD Brunel University London. Facultad de Negocios, Contabilidad y Gestión, Universidad SEGi, Petaling Jaya, Malasia. Correo electrónico: mohdhisyam@segi.edu.my
Los autores que publican en esta revista están de acuerdo con los siguientes términos:
a. Los autores conservan los derechos de autor y garantizan a la revista el derecho de ser la primera publicación del trabajo al igual que licenciado bajo una Creative Commons Attribution License que permite a otros compartir el trabajo con un reconocimiento de la autoría del trabajo y la publicación inicial en esta revista.
b. Los autores pueden establecer por separado acuerdos adicionales para la distribución no exclusiva de la versión de la obra publicada en la revista (por ejemplo, situarlo en un repositorio institucional o publicarlo en un libro), con un reconocimiento de su publicación inicial en esta revista.
c. Se permite y se anima a los autores a difundir sus trabajos electrónicamente (por ejemplo, en repositorios institucionales o en su propio sitio web) antes y durante el proceso de envío, ya que puede dar lugar a intercambios productivos, así como a una citación más temprana y mayor de los trabajos publicados (Véase The Effect of Open Access) (en inglés).