Effects of Going Concern Opinion

2020 Fiscal Year Final Research Report

• Project/Area Number: 19K13875
• Research Category: Grant-in-Aid for Early-Career Scientists
• Allocation Type: Multi-year Fund
• Review Section: Basic Section 07100:Accounting-related
• Research Institution: University of Nagasaki (2020); Kyushu Institute of Information Sciences (2019)
• Principal Investigator: Sakane Yoshiteru 長崎県立大学, 経営学部, 准教授 (40738001)
• Project Period (FY): 2019-04-01 – 2021-03-31
• Keywords: ゴーイング・コンサーン情報 / ボラティリティ / エージェンシー・スラック

Outline of Final Research Achievements

In the U.S. and Japan, auditors assess the going concern ability (GC) of a company. Japanese Auditing Standards and American SAS No. 59 differ with respect to who has the initiative to disclose GC information.　In Japan, management first assesses the GC of the company.　In the U.S., auditors first assess the GC of the company (SAS No. 59). From the viewpoint of agency slack, it can be presumed that stockholders are much more responsive to American GC information that is reported on the initiative of auditors than Japanese GC information that is reported on the initiative of management.
This research compared the difference in volatility of GC companies between Japan and the United States. Although there is a limit to the small sample size, it has become clear that shareholders are more responsive to US GC information than Japanese GC information.

Free Research Field

会計学

Academic Significance and Societal Importance of the Research Achievements

本研究成果はGC情報の定量的な日米比較に関する初期の証拠を提供することができた。サンプルサイズが小さいという研究の限界があり、今後追加検証が必要であるものの、経営者主導で情報を提供する報告形式と比べ、監査人主導で情報を提供する報告形式に投資家が強く反応するという経験的証拠を提供できたことは、GC情報における会計・監査の開示制度だけでなく、他の会計・監査の開示制度を検討する際の一助となるのではないだろうか。