【讲座时间】2025年6月3日 14:00
【讲座地点】会计学院108室
【讲座主题】The Implications of Small Firms’ Responses to PCAOB Inspections
【嘉宾介绍】Miguel Minutti-Meza，University of Miami Herbert Business School
Miguel Minutti-Meza is Department Chair and Professor of Accounting at the U of Miami Herbert Business School. He was a Senior Economic Research Fellow at the PCAOB during 2019-2020.
Miguel’s research interests are in U.S. and foreign capital markets, particularly in auditing, financial reporting, and research methodology issues. He is editor of RAST, associate editor of JAR, and member of the editorial boards of AJPT and J of Fin Rep. In 2020 and 2023 he received the “Notable Contribution to the Auditing Literature Award” from the AAA Auditing Section.
Miguel’s teaching interests are primarily in financial reporting and PhD seminars on capital markets research. He received his PhD in Accounting in 2011 and Master of Management & Professional Accounting in 2005 from the U of Toronto Rotman School in Canada. He received his B.A. in Accounting & Finance in 2003 from ITESM in Mexico.
More details can be found at:Faculty - Dr. Miguel Angel Minutti-Meza (miami.edu)【https://people.miami.edu/profile/ae4516e475b727c8cfa8d4218d9cf682】
【内容提要】
Audit firms may voluntarily submit public responses to PCAOB inspection findings. In contrast to large audit firms, many small firms issue detailed responses that sometimes openly disagree with the PCAOB. We examine the implications of small firms’ responses and document three primary findings. First, auditors that issue a response subsequently charge higher audit fees and have lower audit quality, especially when the inspection reveals a high number of deficiencies. Second, relatively unstructured responses — characterized by brevity, low discrepancy, minimal technical content, and lack of partner signature—are associated with low subsequent audit quality. Third, clients are more likely to retain auditors that issue unstructured responses. Next, we do not find compelling evidence that auditor responses are associated with future inspection deficiencies or negative investor reactions around the response’s publication date. Overall, auditors’ responses appear as strategic impression management that is related to audit quality and client retention outcomes.
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