دانلود رایگان مقاله مشکل سوگیری مدیریت در برآوردهای حسابداری

Abstract

The standards of the PCAOB implicitly, yet unmistakably, presume that auditors are capable of eliminating the material effects of management bias by constraining point estimates to a ‘reasonable’ range. Yet, from inspection results of the PCAOB and its global counterparts we can confidently infer that auditors far too often fail to exercise sufficient skepticism of management’s estimates. The consequences could be profound. Therefore, we are proposing fundamental changes to the rules of engagement between the auditor and its client. We would, incrementally over time, transfer the responsibility for financial statement judgments to independent appraisers. Auditing would become solely a verification service, and financial statements would better serve investors and the public interest.

6. Conclusion

AU § 342.03 of the PCAOB’s interim auditing standards implies that auditors should be capable of containing,to a reasonable range, management bias in accounting estimates. Notwithstanding the dubiousness of that goal from an investor perspective, normative, empirical, and anecdotal evidence all indicate that excess management estimation bias has become prevalent. The PCAOB alone has conducted over 2,000 inspections of audit firms in the first 12 years of its existence. From these inspections, combined with inspections by audit regulators worldwide, we have learned that efforts to at least have auditors scrutinize management’s estimates to a degree consistent with extant professional standards have had little effect. Regulators are demanding that the audit firms look within themselves to take appropriate remedial steps, and they continually fret over new ways to supplement the dubious premise of AU § 342.03. If history is any guide, none of this is working. GAAP is becoming more susceptible to management estimation bias, and the problems are getting worse. Accordingly, we have proposed to fundamentally change the rules of engagement between the auditor and its client by transferring the responsibility for financial statement judgments to independent appraisers. Auditing would become solely a verification service, and financial statements would better serve investors and the public interest.