Do Type II Subsequent Events Impair Financial Reporting Quality?
研究发现，在年报编制期间发生的重大公司事件（第二类期后事项）会分散管理层和审计师的资源，导致财务报告质量下降，表现为后续重述概率增加，但审计师增加投入可缓解此风险。
ABSTRACT This study examines whether material corporate events that occur during the year-end closing process constrain management's and the auditor's resources and inhibit them from providing high-quality financial reports. For a sample of U.S. company financial reports issued during 2000–2013, we identify material corporate events using Type II subsequent event footnote disclosures (i.e., material events that occur in year t+1, but prior to the issuance of the year t financial statements, yet do not affect amounts recognized in year t). We find that Type II subsequent events are associated with lower financial reporting quality, as measured by the need to subsequently restate the year t financial statements. The increased restatement likelihood only occurs when managers are resource-constrained. Auditors can mitigate the increased restatement risk, but only when they allocate more resources to the engagement. Our results underscore the importance of resource management in the financial reporting and audit processes.