بیش اطمینانی مدیریت و حق الزحمۀ حسابرسی

نوع مقاله: مقاله علمی پژوهشی

نویسندگان

1 دانشیار گروه حسابداری، دانشکدۀ مدیریت و حسابداری، دانشگاه علامه طباطبائی، تهران، ایران

2 مربی گروه حسابداری، دانشکدۀ علوم انسانی، دانشگاه بزرگمهر قائنات، قائن، ایران

3 استادیار گروه حسابداری، دانشکدۀ مدیریت و حسابداری، دانشگاه علامه طباطبائی، تهران، ایران

چکیده

 بیش­اطمینانی یا اعتماد بیش از حد به خود می­تواند اعتقاد بی­اساس دربارۀ توانایی­های شناختی، قضاوت­ها و استدلال شهودی فرد تعریف شود. بیش­اطمینانی یکی از مهم‎ترین ویژگی­های شخصیتی مدیران است که بر ریسک­پذیری تأثیر می‎گذارد. چنانچه حسابرس این ویژگی شخصیتی مدیران را تشخیص دهد و ریسک گزارشگری مالی را به‎دلیل بیش­اطمینانی مدیران، بیش از حد برآورد کند، می­تواند حق­الزحمة بیشتری مطالبه کند و اقدام‎هایش را به‎منظور کاهش ریسک عدم­ کشف کامل کند. از سوی دیگر، چون مدیران بیش­اطمینان به فرایند گزارشگری مالی شرکت اطمینان دارند، تلاش می­کنند از طریق مذاکره، دامنة رسیدگی‌های حسابرسی را کم کنند و حق­الزحمة کمتری پرداخت کنند. هدف پژوهش حاضر بررسی تأثیر بیش­اطمینانی مدیریت بر حق­الزحمة حسابرسی است. جامعة آماری پژوهش را شرکت­های پذیرفته‎شده در بورس اوراق بهادار تهران طی سال­های 1386 تا 1392 تشکیل می­دهد. در این پژوهش برای اندازه­گیری بیش­اطمینانی مدیریت از دو سنجة مبتنی بر تصمیم‎های سرمایه‎گذاری استفاده شده است. نتایج پژوهش نشان می­دهد بین بیش­اطمینانی مدیریت و حق­الزحمة حسابرسی ارتباط منفی معناداری برقرار است. بر اساس بررسی­های بیشتر، بیش‎اطمینانی مدیریت بر استفاده از حسابرس متخصص صنعت، تأثیر معناداری ندارد.
 

کلیدواژه‌ها


عنوان مقاله [English]

Managerial overconfidence and audit fees

نویسندگان [English]

  • Yahya Hasas Yeganeh 1
  • Masoud Hasani Alghar 2
  • Mohammad Marfou 3
1 Associate Professor of Accounting, Faculty of Accounting and Management, Allame Tabatabaei University, Tehran, Iran
2 Instructor of Accounting, Faculty of Humanities, Bozorgmehr University of Qaenat, Qaen, Iran
3 Assistant Professor of Accounting, Faculty of Accounting and Management, Allame Tabatabaei University, Tehran, Iran
چکیده [English]

Overconfidence or excessive self-confidence in general can be defined as a groundless belief about individual’s cognitive abilities, judgments and intuitive reasoning. If the auditor recognizes these personality traits in managers and estimates the financial reporting risk to be excessive due to managerial overconfidence, he/she could demand higher audit fees to compensate for the additional audit efforts needed to reduce detection risk. On the other hand, due to the confidence in their firms’ financial reporting process, the overconfident managers choose negotiation as a way to demand less scope and pay lower fees to the auditors. This study aimed to investigate the effect of managerial overconfidence on audit fees. The statistical population consisted of firms listed on the Tehran Stock Exchange during the years 2007 to 2013. The results indicated a significant negative relation between managerial overconfidence and audit fees. The additional studies showed that managerial overconfidence has no significant impact on using industry specialist auditors.

کلیدواژه‌ها [English]

  • Audit fees
  • audit risk
  • financial reporting and managerial overconfidence
  • industry specialist auditor
Ahmed, A.S. & Duellman, S. (2013). Managerial Overconfidence and Accounting Conservatism. Journal of Accounting Research, 51 (1): 1-30.

Arabsalehi, M. & Hashemi, M. (2015). The Effect of Managerial Overconfidence on Tax Avoidance. The Iranian Accounting and Auditing Review, 22(1): 85-104. (in Persian)

Ball, R., Jayaraman, S. & Shivakumar, L. (2012). Audited financial reporting and voluntary disclosure as complements: a test of the confirmation hypothesis. Journal of Accounting and Economics, 53 (1-2): 136-166.

Bedard, J.C. & Johnstone, K.M. (2004). Earnings manipulation risk, corporate governance risk, and auditors’ planning and pricing decisions. The Accounting Review, 79 (2): 277-304.

Ben-David, I. Graham, J. & Harvey, C. (2010). Managerial Miscalibration. National Bureau of Economic Research, Working Paper Series No. 16215. Available in: http://www.nber.org/papers/w16215.

Blankley, A.I., Hurtt, D.N. & MacGregor, J.E. (2012). Abnormal audit fees and restatements. Auditing: A Journal of Practice and Theory, 31 (1): 79-96.

Bouwman, C. (2014). Managerial Optimism and Earnings Smoothing. Journal of Banking & Finance, 41: 283-303.

Campbell, T. C., Gallmeyer, M., Johnson, S. A., Rutherford, J. & Stanley, B. W. (2011). CEO Optimism and Forced Turnover. Journal of Financial Economics, 101 (3): 695-712.

Charles, S., Glover, S. & Sharp, N. (2010). The association between financial reporting risk and audit fees before and after the historic events surrounding SOX. Journal of Financial Economics, 29 (1): 15-39.

Chen, S., Lai, S., Liu, C., McVay, S. (2014). Overconfident Managers and Internal Controls. Working paper, National Taiwan University and University of Washington.

Chyz, J., Gaertner, F., Kausar, A. & Watson, L. (2014). Overconfidence and Aggressive Corporate Tax Policy. Available at SSRN: http://ssrn.com/abstract=2408236.

Cohen, J., Gaynor, L.M., Krishnamoorthy, G. & Wright, A. (2011). The impact of auditor judgments of CEO influence on audit committee independence. Auditing: A Journal of Practice and Theory, 30 (4): 129-147.

COSO. (2013). Internal Control – Integrated Framework: Executive summary. www.coso.org.

Darougheh Hazrati, F. & Pahlavan, Z. (2012). The Impact of the level of earning management and audit fees an evidence from ISE. Management Accounting, 15(4): 55-67. (in Persian)

Deshmukh, S., Goel, A. & Howe, K. (2013). CEO Overconfidence and Dividend Policy. Journal of Finance Intermediation, 22 (3): 440-463.

Dhaliwal, D., Lamoreaux, P., Lennox, C. & Mauler, L. (2014). Management influence on auditor selection and subsequent impairments of auditor independence during the post-SOX period. Contemporary Accounting Research, 32(2): 575-607.

Duellman, S., Hurwitz, H. & Sun, Y. (2015). Managerial Overconfidence and Audit Fees. Journal of Contemporary Accounting & Economics, 11(2): 148-165.

Fung, S., Gul, F. & Krishnan, J. (2012). City-level auditor industry specialization, economies of scale, and audit pricing. The Accounting Review, 87(4): 1281-1307.

Greene, W. (2011). Econometric Analysis. 7 ed. United States of America: Prentice-hall publication.

Hay, D.C., Knechel, W.R. & Wong, N. (2006). Audit fees: a meta-analysis of the effect of supply and demand attributes. Contemporary Accounting Research, 23 (1): 141-191.

Heaton, J. (2002). Managerial Optimism and Corporate Finance. Financial Management, 31(2): 33– 45.

Heidari, M. (2014). Examining Managerial Overconfidence Behavioral Explanation Effect on Cost Stickiness: Comparison with economic and Agency Theory Based Factors, Iranian Accounting and Auditing Review, 21(2): 151-172. (in Persian)

Hsieh, T., Bedard, J. C. & Johnstone, K. M. (2014). CEO Overconfidence and Earnings Management during Shifting Regulatory Regimes. Journal of Business Finance & Accounting, 41 (9-10): 1243-1268.

Johnson, E., Kuhn, J.R., Apostolu, B. & Hassell, J.M. (2013). Auditor perceptions of client narcissism as a fraud attitude risk factor. Auditing: A Journal of Practice and Theory, 32 (1): 203-219.

Kannan, Y., Skantz, T.R. & Higgs, J.L. (2014). The Impact of CEO and CFO Equity Incentives on Audit Scope and Perceived Risk as Revealed through Audit Fees. Auditing: A Journal of Practice and Theory, 33 (2): 111-139.

Kim, Y., Li, H. & Li, S. (2014). CEO Equity Incentives and Audit Fees. Contemporary Accounting Research, 32(2): 608-638.

Krishnan, G.V., Pevzner, M. & Sengupta, P. (2012). How do auditors view managers’ voluntary disclosure strategy? The effect of earnings guidance on audit fees. Journal of Accounting and Public Policy, 31 (5): 492-515.

Malekian, E., Ahmadpour, A. & Talebtabar Ahangar, M. (2012). The Relationship between Some Corporate Governance, Audit Fees and Meter Ownership of Companies Listed in Tehran Stock Exchange, Journal of Financial Accounting Research, 4(14): 37-50. (in Persian)

Malmendier, U. & Tate, G. (2005). CEO Overconfidence and Corporate Investment. European Financial Management, 11 (5): 649-659.

Mashayekh, Sh. & Behzadpur, S. (2015). The Effect of Managers' Overconfidence on Dividend Policy in the Firms Listed in Tehran Stock Market, the Iranian Accounting and Auditing Review, 21(4): 485-504.
(in Persian)

Pompian, M. (2006). Behavioral Finance and Wealth Management, translated by: Ahmad Badri, Kayhan Publishing.

Presley, T.J. & Abbott, L.J. (2013). CEO Overconfidence and the Incidence of Financial Restatement. Advances in Accounting, 29 (1): 74-84.

Ramsheh, M. & Molanazari, M. (2014). Managerial Overconfidence and Accounting Conservatism, Journal of Accounting Knowledge, 5(16): 55-79. (in Persian)

Rashidi Baghi, M. (2015). Review Audit Fee Stickiness. Iranian Accounting and Auditing Review, 21(1): 431-448. (in Persian)

Sajadi, S. H., Rashidi Baghi, M., Abobakri, A. & Shiralizadeh, M. (2014). The Relationship between Auditing Fees and Board Compensation, Journal of Empirical Research in Accounting, 3(2): 39-58. (in Persian)

Scherand, C.M. & Zechman, S.L. (2012). Executive Overconfidence and the Slippery Slope to Financial Misreporting. Journal of Accounting and Economics, 53(1-2): 311–329.