How Do Auditors Assess Key Inputs in a Discounted Cash Flow Model of Goodwill?
通过口头报告分析，研究了21名审计师评估商誉折现现金流模型中七个关键输入的过程，发现系统性的遗漏和错误应用，并关联到审计结果，有助于理解审计师能力局限。
ABSTRACT Using verbal protocol analysis, this study examines how 21 experienced auditors from four different firms assess the seven key inputs in a discounted cash flow (DCF) model used by management to value goodwill. The analysis compares the auditors' processes against a theoretical model derived from an analysis of accounting and auditing standards and authoritative sources of valuation methodology and identifies systematic omissions and inaccurate applications of key audit steps. It also relates those issues to audit outcomes at the individual input and the overall goodwill evaluation levels. The study's findings can help regulators, standard setters, practitioners and academics to better understand the limitations of auditors' competencies so that they can design strategies for mitigating them.