Audit committee oversight and bank financial reporting quality
利用美国多德-弗兰克法案要求大型银行控股公司分离审计与风险委员会的规定，研究发现这一分离提升了财务报告质量，原因在于审计委员会任务减少后更加专注。
Abstract This study investigates the impact of audit committee oversight on the financial reporting quality of US bank holding companies. To overcome identification concerns, we use Section 165 h of the Dodd–Frank Wall Street Reform and Consumer Protection Act, which requires publicly traded bank holding companies with assets exceeding $10 billion to have separate audit and risk committees. We utilise a difference‐in‐differences framework where our treatment group comprises bank holding companies that were required to separate audit and risk oversight functions following the introduction of Section 165 h and our control group comprises counterparts that already had separate audit and risk committees prior to the passage of Section 165 h. We estimate the difference in the behavior of treated bank holding companies between the pre‐ and post‐implementation period of Section 165 h with the same difference in the behavior of control group counterparts and find that the separation of audit and risk committees leads to an improvement in financial reporting quality. We attribute the observed improvements in financial reporting quality to the increased focus of audit committees arising from a reduction in the volume and complexity of tasks undertaken following the implementation of Section 165 h.