Excesso de confiança e honorários de auditoria: o conselho fiscal exerce influência nessa relação?

Autores

DOI:

https://doi.org/10.21680/2176-9036.2022v14n2ID24241

Palavras-chave:

Contabilidade Comportamental, Tomada de Decisão, CEO, Risco Material

Resumo

Objetivo: Esse estudo tem como objetivo investigar o papel do conselho fiscal enquanto mecanismo capaz de alterar a capacidade do gestor de influenciar os custos de auditoria.

Metodologia: Foram analisadas 231 observações de empresas abertas que negociaram suas ações na [B]³ no ano de 2017. Para investigar a relação objeto desse estudo, realizou-se análise por meio de regressão linear múltipla com estimador MQO.

Resultados: Na amostra analisada, foi identificado que o excesso de confiança dos gestores aumenta os custos de auditoria, sendo consistente com o argumento de que o excesso de confiança dos gestores pode elevar o risco de erro material. Contudo, possivelmente em função de características do ambiente emergente ou diferentes níveis de eficiência do conselho fiscal, não foi possível confirmar a hipótese de que o conselho fiscal exerce influência significativa na relação entre o excesso de confiança do gestor e os custos de auditoria.

Contribuições do Estudo: No campo empírico, essa pesquisa fornece subsídios para investidores e reguladores no tocante a atuação dos mecanismos de governança - mais especificamente o conselho fiscal - na relação entre o auditor e o cliente. Sob a perspectiva teórica, acrescenta-se a literatura contábil ao preencher lacuna existente acerca das consequências dos vieses comportamentais dos gestores no custo de auditoria sob a moderação do conselho fiscal.

Downloads

Não há dados estatísticos.

Biografia do Autor

Jorge Luiz De Santana Júnior, Universidade de São Paulo (USP)

Doutorando em Contabilidade na Universidade de São Paulo (USP). Mestre em Contabilidade pela Universidade Federal da Bahia (2020) e Graduado em Ciências Contábeis pela Universidade Federal de Sergipe (2017).

Thiago Rios Sena, Faculdade Lusofona da Bahia

Mestre em Contabilidade (2020) pela Universidade Federal da Bahia (UFBA). Especialista em Metodologia do Ensino em Contabilidade (2018) pela UnyLeya. Bacharel em Ciências Contábeis (2017) pela Universidade do Estado da Bahia (UNEB). Atua como Professor na Universidade Federal do Recôncavo da Bahia, Centro Universitário Estácio e Faculdade Lusófona da Bahia.

Referências

Abbott, L. J., & Parker, S. (2000). Auditor Selection and Audit Committee Characteristics. Auditing: A Journal of Practice & Theory, 19(2), 47–66. https://doi.org/10.2308/aud.2000.19.2.47

Abbott, L. J., Parker, S., & Peters, G. F. (2004). Audit Committee Characteristics and Restatements. Auditing: A Journal of Practice & Theory, 23(1), 69–87. https://doi.org/10.2308/aud.2004.23.1.69

Abbott, L. J., Parker, S., Peters, G. F., & Raghunandan, K. (2003). The Association between Audit Committee Characteristics and Audit Fees. AUDITING: A Journal of Practice & Theory, 22(2), 17–32. https://doi.org/10.2308/aud.2003.22.2.17

Anderson, R. C., Mansi, S. A., & Reeb, D. M. (2004). Board characteristics, accounting report integrity, and the cost of debt. https://www.sciencedirect.com/science/article/abs/pii/S0165410104000394

Baioco, V. G., & Almeida, J. E. F. de. (2017). Efeitos do comitê de auditoria e do conselho fiscal na qualidade da informação contábil no Brasil. Revista Contabilidade & Finanças, 28(74), 229–248. https://doi.org/10.1590/1808-057x201703250

Bell, T. B., Landsman, W. R., & Shackelford, D. A. (2001). Auditors’ Perceived Business Risk and Audit Fees: Analysis and Evidence. https://onlinelibrary.wiley.com/doi/abs/10.1111/1475-679X.00002

Ben-David, I., Graham, J. R., & Harvey, C. R. (2013). Managerial Miscalibration*. The Quarterly Journal of Economics, 128(4), 1547–1584. https://doi.org/10.1093/qje/qjt023

Beneish, M. D. (1999). Incentives and Penalties Related to Earnings Overstatements that Violate GAAP. The Accounting Review, 74(4), 425–457. https://doi.org/10.2308/accr.1999.74.4.425

Bergstresser, D., & Philippon, T. (2006). CEO incentives and earnings management. Journal of financial economics, 80(3), 511–529.

Borges, V. P., Nardi, P. C. C., & da Silva, R. L. M. (2017). Determinantes dos Honorários de Auditoria das Empresas Brasileiras de Capital Aberto. Revista Contabilidade, Gestão e Governança, 20(2), 216–230.

Castro, W. B. de L., Peleias, I. R., & Silva, G. P. da. (2015). Determinantes dos honorários de auditoria: Um estudo nas empresas listadas na BM&FBovespa, Brasil. Revista Contabilidade & Finanças, 26(69), 261–273.

Comissão de Valores Mobiliários (2014). Irregularidades contábeis na elaboração das demonstrações financeiras. Recuperado em 23 de agosto de 2021, de http://conteudo.cvm.gov.br/sancionadores/sancionador/2018/20180327_PAS_RJ20147072.html.

Chaney, P. K., & Philipich, K. L. (2002). Shredded Reputation: The Cost of Audit Failure. Journal of Accounting Research, 40(4), 1221–1245. https://doi.org/10.1111/1475-679X.00087

Chen, G., Crossland, C., & Luo, S. (2015). Making the same mistake all over again: CEO overconfidence and corporate resistance to corrective feedback. Strategic Management Journal, 36(10), 1513–1535.

Cohen, J. R., Hoitash, U., Krishnamoorthy, G., & Wright, A. M. (2014). The Effect of Audit Committee Industry Expertise on Monitoring the Financial Reporting Process. The Accounting Review, 89(1), 243–273. https://doi.org/10.2308/accr-50585

Cormier, D., Lapointe-Antunes, P., & Magnan, M. (2016). CEO power and CEO hubris: A prelude to financial misreporting? Management Decision, 54(2), 522–554. https://doi.org/10.1108/MD-04-2015-0122

Davidson III, W. N., Jiraporn, P., & DaDalt, P. (2006). Causes and consequences of audit shopping: An analysis of auditor opinions, earnings management, and auditor changes. Quarterly Journal of Business and Economics, 69–87.

Davidson, R., Dey, A., & Smith, A. (2015). Executives’ “off-the-job” behavior, corporate culture, and financial reporting risk. Journal of Financial Economics, 117(1), 5–28. https://doi.org/10.1016/j.jfineco.2013.07.004

DeAngelo, L. E. (1981). Auditor size and audit quality. Journal of Accounting and Economics, 3(3), 183–199. https://doi.org/10.1016/0165-4101(81)90002-1

DeFond, M. L., & Francis, J. R. (2005). Audit research after sarbanes-oxley. Auditing: A Journal of Practice & Theory, 24(s-1), 5–30.

DeFond, M. L., Lim, C. Y., & Zang, Y. (2015). Client Conservatism and Auditor-Client Contracting. The Accounting Review, 91(1), 69–98. https://doi.org/10.2308/accr-51150

DuCharme, L. L., Malatesta, P. H., & Sefcik, S. E. (2004). Earnings management, stock issues, and shareholder lawsuits. Journal of Financial Economics, 71(1), 27–49. https://doi.org/10.1016/S0304-405X(03)00182-X

Duellman, S., Hurwitz, H., & Sun, Y. (2015). Managerial overconfidence and audit fees. Journal of Contemporary Accounting & Economics, 11(2), 148–165. https://doi.org/10.1016/j.jcae.2015.05.001

Eissa, A. M. K. (2020). Auditor’s perceptions of CEOs overconfidence in Egypt: A quasi-experimental study. Journal of Accounting, Finance and Auditing Studies, 6(2), 1-30.

Frankel, R. M., Johnson, M. F., & Nelson, K. K. (2002). The Relation between Auditors’ Fees for Nonaudit Services and Earnings Management. The Accounting Review, 77(s-1), 71–105. https://doi.org/10.2308/accr.2002.77.s-1.71

Gaio, C., & Raposo, C. C. (2014). Corporate governance and earnings quality: International evidence. Journal of Accounting and Finance, 14(3), 52.

Greiner, A., Kohlbeck, M. J., & Smith, T. J. (2016). The relationship between aggressive real earnings management and current and future audit fees. Auditing: A Journal of Practice & Theory, 36(1), 85–107.

Hallak, R. T. P., & da Silva, A. L. C. (2012). Determinantes das despesas com serviços de auditoria e consultoria prestados pelo auditor independente no Brasil. Revista Contabilidade & Finanças, 23(60), 223–231.

Hay, D. C., Knechel, W. R., & Wong, N. (2006). Audit Fees: A Meta-analysis of the Effect of Supply and Demand Attributes. Contemporary Accounting Research, 23(1), 141–191. https://doi.org/10.1506/4XR4-KT5V-E8CN-91GX

He, X., Pittman, J. A., Rui, O. M., & Wu, D. (2017). Do Social Ties between External Auditors and Audit Committee Members Affect Audit Quality? The Accounting Review, 92(5), 61–87. https://doi.org/10.2308/accr-51696

Hossain, S., Yazawa, K., & Monroe, G. S. (2017). The Relationship between Audit Team Composition, Audit Fees, and Quality. Auditing: A Journal of Practice & Theory, 36(3), 115–135. https://doi.org/10.2308/ajpt-51682

Hribar, P., KIM, J., Wilson, R., & Yang, H. I.-H. (2013). Counterparty responses to managerial overconfidence. Research Collection School Of Accountancy. https://ink.library.smu.edu.sg/soa_research/1233

Hribar, P., & Yang, H. (2016). CEO overconfidence and management forecasting. Contemporary Accounting Research, 33(1), 204–227.

Hsieh, T., Bedard, J. C., & Johnstone, K. M. (2014). CEO Overconfidence and Earnings Management During Shifting Regulatory Regimes. Journal of Business Finance & Accounting, 41(9-10), 1243-1268. https://onlinelibrary.wiley.com/doi/abs/10.1111/jbfa.12089

Huang, H.-W., Rose-Green, E., & Lee, C.-C. (2012). CEO Age and Financial Reporting Quality. Accounting Horizons, 26(4), 725–740. https://doi.org/10.2308/acch-50268

Judd, J. S., Olsen, K. J., & Stekelberg, J. (2017). How do auditors respond to CEO narcissism? Evidence from external audit fees. Accounting Horizons, 31(4), 33-52. https://doi.org/10.2308/acch-51810

Kim, J.-B., Wang, Z., & Zhang, L. (2016). CEO Overconfidence and Stock Price Crash Risk. Contemporary Accounting Research, 33(4), 1720–1749. https://doi.org/10.1111/1911-3846.12217

Kim, K., Mauldin, E., & Patro, S. (2014). Outside directors and board advising and monitoring performance. Journal of Accounting and Economics, 57(2–3), 110–131. https://doi.org/10.1016/j.jacceco.2014.02.001

Klein, A. (2002). Audit committee, board of director characteristics, and earnings management. Journal of Accounting and Economics, 33(3), 375–400. https://doi.org/10.1016/S0165-4101(02)00059-9

Kothari, S. P., Mizik, N., & Roychowdhury, S. (2012). Managing for the moment: The role of real activity versus accruals earnings management in SEO valuation. Working paper.

Krishnan, J., Wen, Y., & Zhao, W. (2011). Legal Expertise on Corporate Audit Committees and Financial Reporting Quality. The Accounting Review, 86(6), 2099–2130. https://doi.org/10.2308/accr-10135

Lee, H. S. (Grace), Li, X., & Sami, H. (2015). Conditional Conservatism and Audit Fees. Accounting Horizons, 29(1), 83–113. https://doi.org/10.2308/acch-50928

Lei nº 6.404, de 15 de dezembro de 1976. Dispõe sobre as Sociedades por Ações. Brasília, DF. Recuperado em 23 de agosto de 2021, de http://www.planalto.gov.br/ccivil_03/leis/l6404consol.htm.

Lisic, L. L., Neal, T. L., Zhang, I. X., & Zhang, Y. (2016). CEO power, internal control quality, and audit committee effectiveness in substance versus in form. Contemporary Accounting Research, 33(3), 1199-1237. https://doi.org/10.1111/1911-3846.12177

Lyon, J. D., & Maher, M. W. (2005). The Importance of Business Risk in Setting Audit Fees: Evidence from Cases of Client Misconduct. Journal of Accounting Research, 43(1), 133-151. https://onlinelibrary.wiley.com/doi/abs/10.1111/j.1475-679x.2005.00165.x

Malmendier, U., & Tate, G. (2005). CEO overconfidence and corporate investment. The journal of finance, 60(6), 2661–2700.

Memis, M. U., & Cetenak, E. H. (2012). Earnings management, audit quality and legal environment: An international comparison. International Journal of Economics and Financial Issues, 2(4), 460.

Mitra, S., Jaggi, B., & Al-Hayale, T. (2019). Managerial overconfidence, ability, firm-governance and audit fees. Review of Quantitative Finance and Accounting, 52(3), 841–870.

Peni, E., & Vähämaa, S. (2010). Female executives and earnings management. Managerial Finance. 36 (7), 629-645. https://doi.org/10.1108/03074351011050343

Pompian, M. M. (2011). Behavioral finance and wealth management: how to build investment strategies that account for investor biases (Vol. 667). John Wiley & Sons.

Procianoy, J. L., & Decourt, R. F. (2014). The Brazilian Fiscal Council—Protecting Minority Shareholders in a Weak Legal System. In S. Boubaker & D. K. Nguyen, Corporate Governance and Corporate Social Responsibility (p. 159–180). WORLD SCIENTIFIC. https://doi.org/10.1142/9789814520386_0006

Schelleman, C., & Knechel, W. R. (2010). Short-Term Accruals and the Pricing and Production of Audit Services. Auditing: A Journal of Practice & Theory, 29(1), 221–250. https://doi.org/10.2308/aud.2010.29.1.221

Schrand, C. M., & Zechman, S. LC. (2012). Executive overconfidence and the slippery slope to financial misreporting. Journal of Accounting and Economics, 53(1-2), 311-329.https://www.sciencedirect.com/science/article/abs/pii/S0165410111000644

Sutrisno, P. (2019). CEO Overconfidence, Audit Firm Size, Real Earnings Management and Audit Opinion. Academy of Accounting and Financial Studies Journal, 23, 1-13.

Trapp, A. C. G. (2009). A relação do conselho fiscal como componente de controle no gerenciamento de resultados contábeis. Tese de Doutorado, Faculdade de Economia, Administração e Contabilidade. Universidade de São Paulo, São Paulo. Recuperado de https://www.teses.usp.br/teses/disponiveis/12/12136/tde-08072009-160920/pt-br.php

Yu, C. F. (2014). CEO overconfidence, CEO compensation, and earnings manipulation. Journal of Management Accounting Research, 26(2), 167-193. https://doi.org/10.2308/jmar-50722

Zaman, M., Hudaib, M., & Haniffa, R. (2011). Corporate Governance Quality, Audit Fees and Non-Audit Services Fees. Journal of Business Finance & Accounting, 38(1–2), 165–197. https://doi.org/10.1111/j.1468-5957.2010.02224.x

Downloads

Publicado

04-07-2022

Como Citar

JÚNIOR, J. L. D. S.; SENA, T. R. Excesso de confiança e honorários de auditoria: o conselho fiscal exerce influência nessa relação?. REVISTA AMBIENTE CONTÁBIL - Universidade Federal do Rio Grande do Norte - ISSN 2176-9036, [S. l.], v. 14, n. 2, p. 38–57, 2022. DOI: 10.21680/2176-9036.2022v14n2ID24241. Disponível em: https://periodicos.ufrn.br/ambiente/article/view/24241. Acesso em: 10 out. 2024.

Edição

Seção

Seção 1: Contabilidade Aplicada ao Setor Empresarial (S1)