The effect of 'subject to' qualifications : an Australian study

Chua, Shir Ley. (1998). The effect of 'subject to' qualifications : an Australian study Master's Thesis, Dept. of Commerce, University of Queensland.

       
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Author Chua, Shir Ley.
Thesis Title The effect of 'subject to' qualifications : an Australian study
School, Centre or Institute Dept. of Commerce
Institution University of Queensland
Publication date 1998
Thesis type Master's Thesis
Total pages 54
Language eng
Subjects 15 Commerce, Management, Tourism and Services
Formatted abstract This thesis assesses the usefulness of the audit reports as information communicating devices. Specifically, it examines the effect of 'subject to' opinions on share prices. Event study methodology is used to determine the public's perception of the audit function. If the investors perceive that the 'subject to' opinions contain information, usually 'bad news' , the market would impound this information into share prices on the announcement date. Statistically significant cumulative abnormal returns were associated with the announcement of 'subject to' opinions. In addition, this study also attempts to provide evidence to support the argument that qualified reports convey adverse information about audit clients, by examining the association between 'subject to' opinion and financial distress. Results show that there is an association between qualified report and financial distress. It also indicates that companies that received going concern qualification and multiple qualifications are usually in financial distress as compared to other categories of 'subject to' opinion.

 
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Created: Wed, 20 Oct 2010, 11:31:44 EST by Ning Jing on behalf of The University of Queensland Library