文章基本信息

标题：A parsimonious model to forecast financial distress, based on audit evidence
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作者：Carlos Piñeiro Sánchez ; Pablo de Llano Monelos ; Manuel Rodríguez López 等
期刊名称：Contaduría y Administración
印刷版ISSN：0186-1042
出版年度：2013
卷号：58
期号：4
页码：151-173
语种：English
出版社：Universidad Nacional Autónoma de México
摘要：This paper provides evidence that audit reports convey relevant evidence for inferring the existence of underlying, unrevealed, financial imbalances. Unlike previous works, which studied US listed-firms bankruptcy, our research deals with Spanish non-financial SMEs under financial stress. Our results indicate that the audit of distressed SMEs has several distinctive features: higher auditor rotation, more qualified reports, and non-compliance with deadlines to approve and file the annual financial statements. We use this evidence to build and test a parsimonious and reliable forecast model. Several implications for auditors’ independence, information quality, and failure forecast are discussed.
其他摘要：This paper provides evidence that audit reports convey relevant evidence for inferring the existence of underlying, unrevealed, financial imbalances. Unlike previous works, which studied US listed-firms bankruptcy, our research deals with Spanish non-financial SMEs under financial stress. Our results indicate that the audit of distressed SMEs has several distinctive features: higher auditor rotation, more qualified reports, and non-compliance with deadlines to approve and file the annual financial statements. We use this evidence to build and test a parsimonious and reliable forecast model. Several implications for auditors’ independence, information quality, and failure forecast are discussed.
关键词：Financial distress; failure forecast; audit quality; logit regression. Tensión financiera; pronóstico de fallo; calidad de la auditoría; regresión logística.