Determinants and implications of long audit reporting lags: evidence from China
研究了中国上市公司审计报告滞后的决定因素，发现审计风险、复杂性和审计师专业能力会影响滞后长度；长期滞后的公司后续更可能收到非标准审计意见或发生财务重述。
Audit reporting lag is the single most important determinant influencing the timeliness of the release of financial statements. In this study, we first explore the determinants of audit reporting lags in China where the audit market for listed firms is dominated by non-Big 4 auditors. We then examine the implications of long audit reporting lags in subsequent years. We find that selected measures of audit risk and complexity, and auditor expertise are all associated with the length of audit reporting lags in China. Firms with long audit reporting lags are more likely to have the receipt of non-standard opinions in subsequent periods. There is also evidence that firms with extremely long audit reporting lags tend to have more restatements in the subsequent year. As prior research has not specifically investigated the consequences of long audit reporting lags in subsequent years, this study makes an important contribution to the literature in this area.