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June 15, 2026Auditing A Journal of Practice & Theory1 citations

Does Auditing Reduce Bias in Financial Reporting? A Review of Audit-Related Adjustment Studies.

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WKWilliam R. KinneyRMRoger D. Martin

Key Points

  • The review examines whether year-end audit adjustments help reduce bias in management's assertions regarding earnings and assets.
  • Analysis of nine data sets from the United States
  • Evaluation of trends in auditors' liability
  • Use of an adjusting entry worksheet approach to assess adjustments' impacts.
  • Indicates that audit adjustments can reduce bias in earnings assertions
  • Quantitative effects highlight improvements in financial statements for third-party users.

Abstract

Abstract Discusses whether year-end audit adjustments in the United States reduce bias in management's bias assertions about earnings and assets. Analysis of nine data sets; Trends in auditors' liability; Quantitative effects of audits on financial statements for third-party users; `Adjusting entry worksheet' approach.

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Cite This Study

Kinney et al. (1994) studied this question.

synapsesocial.com/papers/6a2f982ba1cfeec490829217https://doi.org/10.2308/ajpt-9703131800
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Also Consider

Synapse has enriched 5 closely related papers on similar clinical questions. Consider them for comparative context:

  1. 1Audit Detection of Financial Statement Errors.1982 · 1 citations
  2. 2Identifying Audit Adjustments with Attention-Directing Procedures.1989
  3. 3Experimental Evidence on the Effects of Accountability on Auditor Judgments.1991
  4. 4Auditor Judgment in Analytical Review--Some Further Evidence.1989
  5. 5Effect of Audit Quality on Earnings Management Practices2024 · 5 citations