Revista de Contabilidad - Spanish Accounting Review 2019, V. 22 N. 1
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- PublicationOpen AccessLas cuestiones clave de auditoría esperadas en España: ¿son los auditores previsibles?(2019) Gambetta, Nicolás; Orta Pérez, Manuel; Sierra Garcia, Laura; García Benau, María AntoniaLa modificación del contenido del informe de auditoria responde a la aplicación de la exigencia impuesta por el art. 5 de la Ley de Auditoria y concretada por la NIA-ES 701 “Cuestiones clave de auditoria” (CCA) (ICAC, 2016). Como novedad se exige al auditor que, atendiendo a su juicio profesional, muestre en el informe los riesgos más significativos de la auditoría de la empresa y las respuestas a esos riesgos. Debido a que dentro del entorno europeo, el Reino Unido ya viene informando de dichos riesgos desde 2013 y que en España todavía no disponemos de los mismos, hemos planteado esta investigación. El objetivo es pronosticar el nivel de CCA que previsiblemente nos encontraremos en España y además, distinguiendo entre si dichas CCA se deben a riesgos de la entidad o a riesgos contables. Para alcanzarlo hemos utilizado como muestra de análisis (144 observaciones de empresas no financieras y cotizadas en el FTSE100) para los años 2013 y 2016. Nuestros resultados muestran que, puesto que la estructura del mercado de auditoría es bastante similar en España y en el Reino Unido, las diferencias en el número de CCA serán muy poco relevantes. Este trabajo contribuye a profundizar el entendimiento de los nuevos informes de auditoría lo cual será útil por contribuir, por un lado, a académicos en el desarrollo de una línea de investigación emergente y, por otro, a profesionales que se encentrarán en breve con la difícil tesitura de emitir los primeros informes de acuerdo a la nueva normativa.
- PublicationOpen AccessDo auditors mitigate earnings manageme nt during economic crisis?(2019) Reguera Alvarado, Nuria; Fuentes, Pilar de; Laffarga, JoaquinaThis paper addresses earnings management from an international perspective. This study particularly ana-lyzes whether external auditing reduces earnings managements and, if so, whether this relationship isaffected by the economic crisis. The study employs a cross-country approach. The sample has 3,830 obser-vations from listed firms from the United States, the United Kingdom, Japan, Italy, France and Spain duringthe period 2005–2009. Panel data are used to verify the research hypotheses. The findings show that ex-ternal auditing is an important mechanism to minimize earnings management. In this sense, the Big Fourand auditor specialization helped to reduce earnings managements during the economic crisis. Moreover,long audit tenure does not contribute to mitigating discretionary accruals. The study includes implicationsfor academia, practitioners, and policymakers. It provides the literature with complementary evidence onthe external auditing and earnings management relationship and how this is influenced by the economiccrisis. The article benefits practitioners and policymakers by highlighting the most important character-istics of audit firms related to the mitigation of earnings managements. In addition, this study considersthe recent economic crisis as an important economic factor. Given that the crisis affected most countriesaround the world and caused structural changes within companies, information about the consequences ofthe crisis and how to deal with them is an important empirical question.
- PublicationOpen AccessEmerging Themes in Management Accounting and Control Research(2019) Dávila, AntonioOrganizations are at an interesting inflection point where existing paradigms are insufficient. The focuson execution as the main source of competitive advantage has been the dominant paradigm since the late19th century. It is not enough. The dynamism brought by billions of people joining the market economyand by the exponential development across a large number of technologies requires complementing exe-cution with managing for creation. Management accounting and control is not immune to these changes.Rather, its future development will determine its relevance to management. This paper reflects on some ofthe opportunities opening for this management discipline to keep its significance to managers. The paperexplores new challenges in supporting execution and its role in creating new sources of value.
- PublicationOpen AccessEconomic and Financial Snapshot of small spanish family firms(2019) Terrón Ibáñez, Sara; Gómez-Miranda, María Elena; Miras Rodríguez, María del Mar; Rodríguez Ariza, LázaroThe aim of this study is to determine whether there are statistically significant differences between smallSpanish companies according to their family or non-family nature, in terms of their main economic andfinancial indicators. The study data analysed correspond to the years 2003, 2007 and 2013, which enabledus to examine whether the characteristics observed and any differences between these companies persistedduring a period featuring three different economic scenarios. The study sample was composed of 21,192small family firms and 4,449 small non-family firms.The results obtained show that, regardless of the national economic situation, there were statistically sig-nificant differences between the two types of companies for certain economic and financial indicators. Weconclude that the family nature of a company has a negative impact on productivity, the number of employ-ees and levels of investment and turnover. Moreover, family firms face higher costs of external financingthan do non-family businesses.
- PublicationOpen AccessThe importance of spatial effects in municipal debt(2019) Balaguer Coll, Maria Teresa; Ivanova Toneva, MariyaThis article analyses the debt of local governments taking into account the presence of spatial interactionsamong neighbouring municipalities. To this end, the S2SLS and Spatial lag models were applied to a sampleof 527 municipalities located in the Valencian Community (Spain) for the year 2015. The main results reveala spatial correlation in outstanding debt among municipalities. The gender of the mayor, the grants andtransfers received and the average payment period have direct effects on outstanding debt. In turn, the netsavings index, inactive population, local income and the strength of the ruling political party have indirecteffects on the municipal debt and indirect spatial effects on the debt of the neighbouring municipalities.