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Saved by the CAM: Does CAM Disclosur...

Constance, Patience,

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Saved by the CAM: Does CAM Disclosure Relatedness to Restatements Impact the Consequences of Restatement Announcements? /

Record Type:	Electronic resources : Monograph/item
Title/Author:	Saved by the CAM: Does CAM Disclosure Relatedness to Restatements Impact the Consequences of Restatement Announcements? // Patience Constance.
Author:	Constance, Patience,
Description:	1 electronic resource (59 pages)
Notes:	Source: Dissertations Abstracts International, Volume: 84-10, Section: A.
Contained By:	Dissertations Abstracts International84-10A.
Subject:	Investments. -
Online resource:	https://pqdd.sinica.edu.tw/twdaoapp/servlet/advanced?query=30425759
ISBN:	9798379439927

Saved by the CAM: Does CAM Disclosure Relatedness to Restatements Impact the Consequences of Restatement Announcements? /
Constance, Patience,

Saved by the CAM: Does CAM Disclosure Relatedness to Restatements Impact the Consequences of Restatement Announcements? /Patience Constance. - 1 electronic resource (59 pages)

Source: Dissertations Abstracts International, Volume: 84-10, Section: A.

This study examines whether there are different consequences for restatement announcements preceded by matched critical audit matter (CAM) disclosures (i.e., restatement and CAM are in the same accounting area) versus non-matched CAM disclosures (i.e., restatement and CAM are in different accounting areas). Using restatements not preceded by any CAM as the benchmark group, I find that restatements preceded by matched CAM disclosures are related to unfavorable outcomes, whereas restatements preceded by non-matched CAM disclosures are related to favorable outcomes. Specifically, restatements preceded by matched CAM disclosures are associated with more negative abnormal market returns. Such restatements are also associated with a higher likelihood of auditor dismissal from same-office non-restating clients. In contrast, restatements preceded by non-matched CAM disclosures are associated with positive abnormal market returns. Such restatements are also associated with a lower likelihood of auditor dismissals following restatements among restating clients as well as same-office non-restating clients. The aforementioned favorable outcomes associated with restatements preceded by non-matched CAM disclosures increase with the length of the CAM descriptions and auditor responses. Taken together, these results are consistent with auditors being rewarded (penalized) for (not) preventing misstatements in disclosed CAM areas.

English

ISBN: 9798379439927Subjects--Topical Terms:

566987
Investments.
Subjects--Index Terms:

Auditor dismissal

Saved by the CAM: Does CAM Disclosure Relatedness to Restatements Impact the Consequences of Restatement Announcements? /
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500 $a Source: Dissertations Abstracts International, Volume: 84-10, Section: A.
500 $a Advisors: Li, Chan Committee members: Sun, Lili; Wilkins, Mike; Masli, Adi; Juhl, Ted.
502 $b Ph.D. $c University of Kansas $d 2023.
520 $a This study examines whether there are different consequences for restatement announcements preceded by matched critical audit matter (CAM) disclosures (i.e., restatement and CAM are in the same accounting area) versus non-matched CAM disclosures (i.e., restatement and CAM are in different accounting areas). Using restatements not preceded by any CAM as the benchmark group, I find that restatements preceded by matched CAM disclosures are related to unfavorable outcomes, whereas restatements preceded by non-matched CAM disclosures are related to favorable outcomes. Specifically, restatements preceded by matched CAM disclosures are associated with more negative abnormal market returns. Such restatements are also associated with a higher likelihood of auditor dismissal from same-office non-restating clients. In contrast, restatements preceded by non-matched CAM disclosures are associated with positive abnormal market returns. Such restatements are also associated with a lower likelihood of auditor dismissals following restatements among restating clients as well as same-office non-restating clients. The aforementioned favorable outcomes associated with restatements preceded by non-matched CAM disclosures increase with the length of the CAM descriptions and auditor responses. Taken together, these results are consistent with auditors being rewarded (penalized) for (not) preventing misstatements in disclosed CAM areas.
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650 4 $a Perceptions. $3 3435328
650 4 $a Hypotheses. $3 3560118
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650 4 $a Reputations. $3 3562920
650 4 $a Investors. $3 3544951
650 4 $a Litigation. $3 3564647
653 $a Auditor dismissal
653 $a CAM disclosure
653 $a Critical audit matters
653 $a Market reaction
653 $a Restatements
653 $a Spillover
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