2003 Fiscal Year Final Research Report Summary
Empirical Research on Cost-Effective Analysis of Financial Statements Audit in several Countries
| Project/Area Number |
14330044
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| Research Category |
Grant-in-Aid for Scientific Research (B)
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| Allocation Type | Single-year Grants |
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| Section | 一般 |
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| Research Field |
Accounting
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| Research Institution | Konan University |
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Principal Investigator |
KATO Yasuhiko Konan Univ., School of Business, Professor, 経営学部, 教授 (00068115)
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| Co-Investigator(Kenkyū-buntansha) |
HAYASHI Takatoshi Kansei gakuin Univ., School of Commerce, Associate Professor, 商学部, 助教授 (50268512)
NAITO Fumio Kobe Univ., Graduate School of Business, Professor, 大学院・経営学研究科, 教授 (80188862)
IYODA Takatoshi Konan Univ., School of Business, Professor, 経営学部, 教授 (60184834)
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| Project Period (FY) |
2002 – 2003
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| Keywords | Financial Statements Audit / Cost of Audit / Performance of Audit / Audit based on the Securities Exchange Act |
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| Research Abstract |
The objectives of this research are to reveal the general extent of the economic impact of audits in Japan, which is to say, the impact thereof in macroeconomic terms, and to ascertain whether this impact falls within a reasonable range of values when compared to values elsewhere around the world by analyzing the costs and performance associated with auditing, which is a component of the infrastructure of the Japanese financial system. The analysis focused on the following types of audits : the audits of financial statements based on the Securities Exchange Act, the audits carried out by auditors pursuant to the Commercial Code, the accounting audits of large companies carried out by accounting auditors pursuant to special provisions under the Commercial Code, and the internal audits carried out by internal auditors, as well as all audits in the applicable foreign countries that correspond thereto.
Our survey investigation targeting listed companies and accounting firms in the five Euro
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pean and North American countries was unable to obtain the requisite number of responses needed to ensure meaningful statistical verification. In fact, many of the response forms returned from Germany and France contained notes explaining the difficulties involved in disclosing information due to obligations of confidentiality, which revealed a very prudent attitude with respect to surveys. In addition, some of the companies and accounting firms subject to the investigation may have been more sensitive to the questions than necessary, a situation that may have arisen due to the extremely detailed nature of our drafted questions.
It goes without saying that to conduct a meaningful comparison of systems in a large number of countries is a difficult task. A review of research methodology will be necessary and should focus on the following examples of steps that may need to be reexamined : bilateral comparisons that look at Japan and countries in which we achieved a relatively high rate of return ; analyses of the results obtained while keeping in mind socioeconomic and cultural differences; and the act of deriving useful implications related to the analyses of costs and performance as pertains to statutory auditing. Less
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Research Products
(5 results)
