• Title/Summary/Keyword: Audit Impact

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Corporate Governance and Performance of Insurance Companies in the Saudi Market

  • OSMAN, Mohamed Abdel Mawla;SAMONTARAY, Durga Prasad
    • The Journal of Asian Finance, Economics and Business
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    • v.9 no.4
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    • pp.213-228
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    • 2022
  • This paper investigates the association between key corporate governance characteristics and the performance of general insurance businesses listed on the Saudi stock exchange (TADAWUL). The methodology for the study is based on a pooled data collection for 11 Saudi general insurance companies from 2011 to 20. The linear regression model and the logarithm regression model are suggested to assess the relationship between performance and corporate governance characteristics. The dependent variable is firm performance measured using ROA, ROE, and Tobin's Q. The independent variables are corporate governance variables consisting of a complete set of board and audit committee characteristics. Insurer-specific control variables are introduced. The empirical results reveal that the characteristics of corporate governance influence the performance of insurance companies. In particular, the board size, board's tenure, the proportion of independent directors in the board, audit committee size, audit committee meeting frequency, and proportion of health insurance premiums have a positive impact. However, audit committee independence, size of the company, and proportion of reinsurance premiums have a negative impact on the performance of the Saudi general insurance companies. Finally, the empirical results indicated also that there is an unclear relationship between the performance and board meeting frequency, compensations of the Board, and the average age of the Board.

A Study on Energy Eco-Audit Evaluation Scheme at Schools for Sustainable Energy Management (지속가능한 에너지 관리를 위한 학교 에너지 생태 감사 평가 방안 개발 연구)

  • Nam, Young-Sook
    • Hwankyungkyoyuk
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    • v.20 no.4
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    • pp.1-11
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    • 2007
  • The purpose of this study is to develope energy eco-audit evaluation scheme for the sustainable energy management at schools in accordance with education for sustainable development. Energy eco-audit evaluation scheme was developed through critical review of preexisting evaluation methods, consensus searching for the process from field. The results of this study are as follows. The school energy eco-audit evaluation scheme has three criteria: data collection, energy program, and environmental review. First, criteria of data collection includes general affairs, school building construction, and energy use. Second, criteria of energy program stresses school administration system such as the democratic decision-making process and structures. Third, criteria of environmental review includes reporting process and preparing teaching/learning materials for sustainable energy management. In conclusion, school energy eco-audit evaluation scheme could find a new way to achieve extended effect for sustainable energy management in school. It also could continue to seek opportunities to raise their awareness of energy issue and environment. School committee and whole school are involved to continue to implement present action plan and prepare updated plan in order to reduce environmental impact in school. By doing so, it would be possible to play important role in both school administration and education for sustainable development.

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Existing Building Energy Simulation Method Using Calibrated Model by Energy Audit Data (성능진단 데이터로 보정된 모델을 이용한 기존건축물의 에너지시뮬레이션 기법)

  • Kong, Dong-Seok;Kim, Du-Hwan;Chang, Yong-Sung;Huh, Jung-Ho
    • Korean Journal of Air-Conditioning and Refrigeration Engineering
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    • v.26 no.5
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    • pp.231-239
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    • 2014
  • This paper represents a method of existing building energy simulation using energy audit data. Energy audit must be carried out for reasonable analysis, because characteristics of existing buildings such as efficiency of fan, pump, flow rate, pressure, COP and operating schedule could be changed during the building operation. These building characteristics should be measured to estimate actual energy consumption of the existing building. In this study, we conducted energy audit and calculated energy savings for a 7-stories building as a case-study. The energy audit data were used to calibrate the building model of EnergyPlus simulation. Baseline model validated according to M&V guideline index. As a result, building characteristics are significant parameters making a big impact on energy savings in existing buildings.

The Effect of Corporate Taxpayer's Compliance with Tax Audit: A Case Study in Indonesia

  • MUKIYIDIN, Mukiyidin;MUDA, Iskandar;KHOLIS, Azizul
    • The Journal of Asian Finance, Economics and Business
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    • v.8 no.5
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    • pp.717-725
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    • 2021
  • The study answers the awareness of taxpayers, tax authority services, tax socialization, tax collection, and account representative's controlling (monitoring) for compliance of the corporate Taxpayer. The study also examines the moderating effect of the tax audit to control the corporate Taxpayer's compliance. In this study, the method of non-probability sampling was used. The research data was gathered by handing out questionnaires at the Medan Kota Tax Office in Indonesia. The SEM method was used for data analysis through Lisrel 8.8 program. The findings of the study concluded that tax collection has a significant positive effect on corporate taxpayer's compliance and Tax audit moderates the relation between tax authority services and the account representative's controlling (monitoring) with corporate taxpayers' compliance. Also, tax socialization and account representative's controlling (monitoring) have a positive effect on the corporate taxpayer's compliance. In contrast, variables of taxpayer's awareness and tax authority services have a negative impact. Furthermore, tax audit does not moderate the relation between taxpayer awareness, tax socialization, and tax collection with the corporate taxpayer's compliance at Medan Kota Tax Office Indonesia. The findings suggest the Indonesian policymakers and tax authorities must create corporate legislation to handle compliance by leveraging the loopholes in tax legislation law and the tax audit system.

Auditor's Report and the Impact of Non-Audit Services, Audit Institutions

  • Mohammadi, Shaban;Dashtbayaz, Mahmoud Lari
    • The Journal of Economics, Marketing and Management
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    • v.3 no.2
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    • pp.1-8
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    • 2015
  • In this paper, the effects of auditor change on audit quality in companies accepted in Tehran stock exchange placed review and we assessed the presence or absence of a significant correlation between them. to assess the quality of data auditing and tax distortions, falsification of accounting estimates, distortion of rules, distortion caused by mistakes in applying accounting policies and other distortions are used as the dependent variable Is. the sample group consisted of 56 companies as experimental group and a control group of 56 other companies a 4-year period, during the years 2011 to 2014 were studied. data needed for research discovery success ratio distortion before and after the change of auditor. To test the research hypotheses paired comparison method is used.

The Effect of Non-Audit Services on Auditor Independence: Evidence from Vietnam

  • DOAN, Nga Thanh;PHAM, Cuong Duc;NGUYEN, Thuong Thi Uyen;VU, Mai Phuong;PHAM, Lam Ha
    • The Journal of Asian Finance, Economics and Business
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    • v.7 no.12
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    • pp.445-453
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    • 2020
  • Independence is a factor which has a significant impact on auditing quality, especially in the recent times where the marketplace is increasingly demanding transparency. The independence of auditors is assessed based on the main criteria such as the reliability of the audit opinions, the accuracy, truthfulness of financial reports, and the objectivity in the opinions of the auditor. The study investigates the effects of non-audit services (NAS) on auditor independence in emerging economies such as Vietnam. Non-audit services include taxation services, management advisory services and outsourcing internal audit services. Based on previously relevant researches, the authors develop hypotheses and a regression model about non-audit services (independent variables) and audit independence (dependent variable). The research collects data by 5-scale Likert questionnaire. The findings indicate the relationship between NAS and auditor independence. Specifically, the results reveal two main factors that have influence on auditor independence, namely, taxation services and management advisory services. The results of our research can be considered as new findings and can be compared to previous researches in Vietnam, which establishes a new viewpoint about the relationship between the NAS and the independence of the auditor. This result can be implemented for countries or jurisdictions which are similar to Vietnam.

The Effect of Voluntary Disclosure Level and Accounting Quality on Audit Fees and Audit Hours (자율공시수준과 회계이익의 질이 감사보수 및 감사시간에 미치는 영향)

  • Jung, Seol Hee
    • Journal of the Korea Convergence Society
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    • v.9 no.4
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    • pp.169-177
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    • 2018
  • The purpose of this study is to make an empirical analysis of how voluntary disclosure level has an impact on auditor's audit fees and audit hours and additionally identify if the relationship between the twos depends on the accounting quality. As final sample for analysis, this study targeted the KOSPI listed firms from 2007 to 2013, and as for audit fees(audit hours), 4,572 (4,460) corporate/annual data were used. The results from the empirical analysis in this study are as follows. First, auditor's audit fees appeared higher in KOSPI listed firms compared to the non-KOSPI listed firms, and when targeting the KOSPI listed firms only, the results were the same. Second, auditor's audit hours increased significantly in the KOSPI listed firms compared to the non-KOSPI listed firms, and this result appeared consistently even when analyzing the KOSPI listed firms only. Third, when the accounting quality was not good in the KOSPI listed firms, auditor's audit fees got significantly lower, whereas when targeting the KOSPI listed firms only, no relevance was found. Fourth, when the accounting quality was bad in the KOSPI listed firms, auditor's audit hours were found to have been spent less, but when analyzing the KOSPI listed firms only, such a fact was not identified. This study is significant in that it examined the fact that auditor's audit risk depends on voluntary disclosure level in terms of audit fees and audit hours.

Exploring the Effectiveness of Audit Against the Improper Usage of Social Service Vouchers in South Korea (사회서비스 부적정 이용에 대한 감사 효과분석 - 사회서비스 바우처 사업을 중심으로 -)

  • Park, Chun Bok;Kim, Jong Ho;Jung, Kwangho
    • 한국정책학회보
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    • v.23 no.3
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    • pp.161-198
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    • 2014
  • The various types of improper usages in the process of delivering social services have been increasingly paid to attention in South Korea. This study, relying on empirical data about the various improper behaviors, explore whether the audit activity can reduce the degree of the improper behavior. In order to estimate the impact of the audit, we use the DID(Difference in difference) method, comparing the experimental group with the audit treatment and the control group without it. We control for size(the number of Service personnel and user), types of social service (elderly, disabled, etc.), organizational forms(profit, non-profit), region(metropolitan areas, small-medium cities, rural areas), and the number times of audit (1, 2, and 3 number). Our empirical results show that the audit decreased the ratio of payment violation by about 4.02 percent, the number of violations from providers' improper payment by approximately 5.07 and the number of violations from users' improper payment by approximately 9.59. Further research is required to explore why and how the audit can decrease the improper usage in social service with rigorous theoretical models.

Risk of Material Misstatement in the Stage of Audit Planning: Empirical Evidence from Vietnamese Listed Enterprises

  • NGUYEN, Hoan;NGO, Thi Kieu Trang;LE, Thi Tam
    • The Journal of Asian Finance, Economics and Business
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    • v.7 no.3
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    • pp.137-148
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    • 2020
  • The purpose of this study is to investigate factors influencing risk assessment of material misstatement in Vietnamese enterprises listed on stock market. Expert interview method was conducted to discover the scales for three variables including information system, trademark, and risk assessment of material misstatement. Survey method was used to examine the impacts of eight factors on risk assessment of material misstatement. Data is collected from 317 auditors who have excellent experience in auditing financial statements of companies listed on stock market. Then, data is processed by descriptive statistics, reliability analysis, factor extracted analysis, correlative regression analysis, and analysis variance of residual change. The research findings showed that business characteristic, stakeholder pressure, and economic environment have positive relationships with risk assessment of material misstatement. Three variables including operation control and monitor, control environment, and information system negatively affect to risk assessment. Specially, business characteristic and information system, which are elements in internal control, have strongest impact on risk assessment. One the other hand, assessment of internal control plays an important role not only in the audit plan stage but also throughout the stages of the audit implementation and ending. Therefore, appropriate solutions are proposed to carry out all audit stages.

Audit Quality and Stock Price Synchronicity: Evidence from Emerging Stock Markets

  • ALMAHARMEH, Mohammad I.;SHEHADEH, Ali A.;ISKANDRANI, Majd;SALEH, Mohammad H.
    • The Journal of Asian Finance, Economics and Business
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    • v.8 no.3
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    • pp.833-843
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    • 2021
  • This research examines the impact of audit quality on the extent to which firm-specific information is integrated with a firm's share price - which is determined inversely using stock price synchronicity. The study sample consists of non-financial companies listed on the Amman Stock Exchange i.e., the Jordanian Stock Market, from 2014-2018. After examining 810 firm-year observations from Jordanian industrial companies listed on the ASE, during the study period, we find that the companies using one of the BIG4 audit firms for auditing have less synchronous and more informative stock prices, suggesting high-quality audit improved governance and reduce information asymmetry between firms' insiders and investors which enhances the capitalization of firm's specific information into the stock price, thus less synchronous and more informative stock return. The findings remain consistent over 2 separate measurements of stock price synchronicity (Market and Industry model and Market Model) and show robustness for fixed effect tests. Our multivariate regression results are also robust after controlling for a number of features at the firm level with potential associations with stock price synchronicity. These include the firm size, leverage, return on assets (ROA), and market to book value (MBV).