What Happens When Managers Are Informed? Effects of Critical Audit Matter Awareness and Auditor Relationship on Managers' Accounting Estimates
研究发现，当审计师与客户关系密切时，管理者得知即将披露关键审计事项会做出更激进的会计估计；而关系疏远时则相反，这为监管者理解审计师关系对报告决策的影响提供了参考。
ABSTRACT We examine how managers' accounting estimates are affected by whether they are informed about an impending critical audit matter (CAM) disclosure from a close or distant auditor. A close (distant) auditor is one who has a smaller (greater) social distance from the client in terms of their working relationship. We predict and find that being informed about an impending CAM by a close (distant) auditor leads to more (less) aggressive estimates than if managers are not informed. With a close auditor-client relationship, managers perceive a CAM disclosure as forewarning investors about estimate subjectivity, thus providing a moral license to report more aggressively. With a distant relationship, a CAM disclosure does not provide a moral license, but signals greater auditor scrutiny, which leads to less aggressive reporting. Our results inform regulators and standard setters about the effects of CAM on managers' reporting decisions in the presence of a close auditor-client relationship.