Deferred Tax Asset Valuation Allowances and Auditors’ Going Concern Evaluations
研究发现递延所得税资产估值备抵的存在、金额及变化与公司首次收到持续经营审计意见的可能性正相关，且能减少审计师对持续经营意见的错误分类，对审计师评估公司失败风险有增量信息。
SUMMARY The valuation allowance for deferred tax assets is an audited disclosure that reflects management’s expectations regarding the future profitability of a company. Building on prior literature that establishes this disclosure as an indicator of future distress, we examine whether the valuation allowance is associated with auditors’ going concern evaluations. We find evidence that the existence and magnitude of the valuation allowance, as well as changes in the allowance, are positively associated with the likelihood that a company receives a first-time going concern opinion. We also find some evidence that valuation allowances are associated with reduced Type I and Type II going concern opinion misclassifications. Our results suggest that the information related to management’s plans and expectations that is reflected in the valuation allowance is incrementally relevant to auditors in their assessment of a company’s likelihood of failure. Data Availability: Data are available from the public sources cited in the text.