PARTE III: ANTECEDENTES HISTÓRICOS EN LA FORMACIÓN DEL CANAL DE DISTRIBUCIÓN
INDICE DE LECTURA DE DIARIOS POR PROVINCIAS EN
2.4. Las revistas y la necesidad de compartir la distribución.
We examine the occurrence of earnings management surrounding audit changes for Norwegian AS firms and whether audit changes are driven by management’s desire to opportunistically manipulate earnings.
The analysis shows that for the study period there there is not a significant level of income increasing earnings management after audit changes. Results suggest that there is evidence that auditor conservatism may be a motivation for firms to change auditor, when the previous auditor prefers conservative practices that the firm’s management believes does not represent the true financial picture of the firm. Evidence also suggests that
clients of Big Auditors that had a non-Big Auditor predecessor may be subjected to more conservative accounting and therefore experience larger negative discretionary accruals. Audit changes where the firm received a modified audit opinion in the year prior to the change results in significantly larger negative discretionary accruals, again indicating the successor auditor likely being more conservative with its new client. Finally, results suggest that firms that receive a modified audit opinion prior to the audit change
experience larger negative discretionary accruals when switching from a non-Big Auditor to a Big Auditor when compared to these same firms that switch from a non-Big Auditor to another non-Big Auditor. These results are similar to those of DeFond and
Subramanyam (1998), although differ slightly from Davidson et al. (2006) who finds slight evidence to support the notion that an audit change to a non-Big Auditor following a modified opinion results in more positive discretionary accruals. We find weak
evidence to support the results of Davidson et al. (2006), although our results are not significant at traditional levels. It is plausible that for Norwegian AS firms there are fewer incentives to engage in earnings management and therefore the prevalence of income increasing earnings management is muted.
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