Evidence about the value of financial statement audit in the public sector

David Hay; Carolyn J. Cordery

doi:10.1080/09540962.2020.1729532

Evidence about the value of financial statement audit in the public sector

David Hay, Carolyn J. Cordery

Research output: Contribution to journal › Article › peer-review

Abstract

Multiple, complementary explanations have been developed to explain audit demand. Substantial evidence exists for these explanations in the private sector, but they have been explored to a lesser extent in the public sector. We assess the extent to which these explanations for the value of auditing are relevant in the public sector by examining evidence from New Zealand. We find the use of overlapping explanations helps to explain how auditing is valuable to a wide variety of users.

Original language	English
Pages (from-to)	304-314
Number of pages	11
Journal	Public Money and Management
Volume	41
Issue number	4
Early online date	25 Feb 2020
DOIs	https://doi.org/10.1080/09540962.2020.1729532
Publication status	Published - 2021

Bibliographical note

This is an Accepted Manuscript of an article published by Taylor & Francis Group in Public Money & Management on 25 Feb 2020, available online at: http://www.tandfonline.com/10.1080/09540962.2020.1729532

Keywords

Agency costs
New Zealand
Office of the Auditor-General (NZ)
armchair auditors
audit demand
financial reporting
management control
supreme audit institutions (SAIs)

Access to Document

10.1080/09540962.2020.1729532

Evidence about the value of public sector audit
This is an Accepted Manuscript of an article published by Taylor & Francis Group in Public Money & Management on 25 Feb 2020, available online at: http://www.tandfonline.com/10.1080/09540962.2020.1729532
Accepted author manuscript, 550 KB

Cite this

@article{ef3a2722756a4a338a106a4cd28a99f4,

title = "Evidence about the value of financial statement audit in the public sector",

abstract = "Multiple, complementary explanations have been developed to explain audit demand. Substantial evidence exists for these explanations in the private sector, but they have been explored to a lesser extent in the public sector. We assess the extent to which these explanations for the value of auditing are relevant in the public sector by examining evidence from New Zealand. We find the use of overlapping explanations helps to explain how auditing is valuable to a wide variety of users.",

keywords = "Agency costs, New Zealand, Office of the Auditor-General (NZ), armchair auditors, audit demand, financial reporting, management control, supreme audit institutions (SAIs)",

author = "David Hay and Cordery, {Carolyn J.}",

note = "This is an Accepted Manuscript of an article published by Taylor & Francis Group in Public Money & Management on 25 Feb 2020, available online at: http://www.tandfonline.com/10.1080/09540962.2020.1729532",

year = "2021",

doi = "10.1080/09540962.2020.1729532",

language = "English",

volume = "41",

pages = "304--314 ",

journal = "Public Money and Management",

issn = "0954-0962",

number = "4",

}

TY - JOUR

T1 - Evidence about the value of financial statement audit in the public sector

AU - Hay, David

AU - Cordery, Carolyn J.

N1 - This is an Accepted Manuscript of an article published by Taylor & Francis Group in Public Money & Management on 25 Feb 2020, available online at: http://www.tandfonline.com/10.1080/09540962.2020.1729532

PY - 2021

Y1 - 2021

N2 - Multiple, complementary explanations have been developed to explain audit demand. Substantial evidence exists for these explanations in the private sector, but they have been explored to a lesser extent in the public sector. We assess the extent to which these explanations for the value of auditing are relevant in the public sector by examining evidence from New Zealand. We find the use of overlapping explanations helps to explain how auditing is valuable to a wide variety of users.

AB - Multiple, complementary explanations have been developed to explain audit demand. Substantial evidence exists for these explanations in the private sector, but they have been explored to a lesser extent in the public sector. We assess the extent to which these explanations for the value of auditing are relevant in the public sector by examining evidence from New Zealand. We find the use of overlapping explanations helps to explain how auditing is valuable to a wide variety of users.

KW - Agency costs

KW - New Zealand

KW - Office of the Auditor-General (NZ)

KW - armchair auditors

KW - audit demand

KW - financial reporting

KW - management control

KW - supreme audit institutions (SAIs)

UR - https://www.tandfonline.com/doi/full/10.1080/09540962.2020.1729532

UR - http://www.scopus.com/inward/record.url?scp=85103864345&partnerID=8YFLogxK

U2 - 10.1080/09540962.2020.1729532

DO - 10.1080/09540962.2020.1729532

M3 - Article

VL - 41

SP - 304

EP - 314

JO - Public Money and Management

JF - Public Money and Management

SN - 0954-0962

IS - 4

ER -

Evidence about the value of financial statement audit in the public sector

Abstract

Bibliographical note

Keywords

Access to Document

Other files and links

Fingerprint

Cite this