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Conference Paper: SOX Internal Control Deficiencies and Auditors of U.S.-listed Chinese versus U.S. Firms

TitleSOX Internal Control Deficiencies and Auditors of U.S.-listed Chinese versus U.S. Firms
Authors
KeywordsSarbanes-Oxley
Section 302
Internal Control Deficiencies
U.S.-listed Chinese firms
Issue Date2012
Citation
American Accounting Association Annual Meeting and Conference on Teaching and Learning in Accounting, 'Seeds of Innovation', Washington, DC, USA, 4-8 August 2012 How to Cite?
AbstractThis study compares the Section 302 internal control deficiencies (ICDs) and auditors of U.S.-listed Chinese and U.S. domiciled firms reporting under Sarbanes-Oxley (SOX) regulations, with four main findings. First, U.S.-listed Chinese firms disclose more than twice as many ICDs as matched U.S. domiciled firms. Second, Chinese firms listing directly in the U.S. exhibit significantly more ICDs than those also cross-listed in China, consistent with added Chinese regulatory oversight. Third, Chinese firms listing directly in the U.S. are less likely to employ Big 4 auditors than cross-listed Chinese firms or matched U.S. domiciled firms. Fourth, the ICDs of U.S.-listed Chinese firms relate primarily to financial statement preparation, personnel and remediation, and significantly exceed those of matched U.S. counterparts for every ICD type. To our knowledge, this study provides the first direct evidence regarding the ICDs and auditors of U.S.-listed Chinese firms, matters of on-going interest to regulatory authorities and other stakeholders.
DescriptionSession Title: Auditing, Financial Reporting, and IFRS
Persistent Identifierhttp://hdl.handle.net/10722/165823
SSRN

 

DC FieldValueLanguage
dc.contributor.authorBaker, RRen_US
dc.contributor.authorBiddle, GCen_US
dc.contributor.authorO'Connor, NGen_US
dc.date.accessioned2012-09-20T08:24:06Z-
dc.date.available2012-09-20T08:24:06Z-
dc.date.issued2012en_US
dc.identifier.citationAmerican Accounting Association Annual Meeting and Conference on Teaching and Learning in Accounting, 'Seeds of Innovation', Washington, DC, USA, 4-8 August 2012en_US
dc.identifier.urihttp://hdl.handle.net/10722/165823-
dc.descriptionSession Title: Auditing, Financial Reporting, and IFRS-
dc.description.abstractThis study compares the Section 302 internal control deficiencies (ICDs) and auditors of U.S.-listed Chinese and U.S. domiciled firms reporting under Sarbanes-Oxley (SOX) regulations, with four main findings. First, U.S.-listed Chinese firms disclose more than twice as many ICDs as matched U.S. domiciled firms. Second, Chinese firms listing directly in the U.S. exhibit significantly more ICDs than those also cross-listed in China, consistent with added Chinese regulatory oversight. Third, Chinese firms listing directly in the U.S. are less likely to employ Big 4 auditors than cross-listed Chinese firms or matched U.S. domiciled firms. Fourth, the ICDs of U.S.-listed Chinese firms relate primarily to financial statement preparation, personnel and remediation, and significantly exceed those of matched U.S. counterparts for every ICD type. To our knowledge, this study provides the first direct evidence regarding the ICDs and auditors of U.S.-listed Chinese firms, matters of on-going interest to regulatory authorities and other stakeholders.-
dc.languageengen_US
dc.relation.ispartofAmerican Accounting Association Annual Meetingen_US
dc.rightsCreative Commons: Attribution 3.0 Hong Kong License-
dc.subjectSarbanes-Oxley-
dc.subjectSection 302-
dc.subjectInternal Control Deficiencies-
dc.subjectU.S.-listed Chinese firms-
dc.titleSOX Internal Control Deficiencies and Auditors of U.S.-listed Chinese versus U.S. Firmsen_US
dc.typeConference_Paperen_US
dc.identifier.emailBiddle, GC: biddle@hku.hken_US
dc.identifier.emailO'Connor, NG: acno@hkucc.hku.hken_US
dc.identifier.authorityBiddle, GC=rp00230en_US
dc.identifier.authorityO'Connor, NG=rp01089en_US
dc.description.naturepostprint-
dc.identifier.hkuros211338en_US
dc.publisher.placeUnited States-
dc.identifier.ssrn2087535-

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