Economic consequences of public oversight of the auditing profession: Insights from the capital market.
Maastricht UMC+ , Maastricht University , Technische Universiteit Delft, Faculteit Mechanical Engineering (ME), Biomechanical Engineering, Man-Machine Systems Group , Maastricht UMC+, Instrument Development Engineering & Evaluation (IDEE) , Technische Universiteit Delft , Technische Universiteit Delft, Faculteit Mechanical Engineering (ME), Biomechanical Engineering, Medical Instruments & Bio-Inspired Technology , Maastricht University, School of Business and Economics (SBE), Graduate School of Business and Economics (GSBE) , Amsterdam UMC - Locatie AMC, Orthopaedie , Amsterdam UMC
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Maastricht UMC+ , Maastricht University , Technische Universiteit Delft, Faculteit Mechanical Engineering (ME), Biomechanical Engineering, Man-Machine Systems Group , Maastricht UMC+, Instrument Development Engineering & Evaluation (IDEE) , Technische Universiteit Delft , Technische Universiteit Delft, Faculteit Mechanical Engineering (ME), Biomechanical Engineering, Medical Instruments & Bio-Inspired Technology , Maastricht University, School of Business and Economics (SBE), Graduate School of Business and Economics (GSBE) , Amsterdam UMC - Locatie AMC, Orthopaedie , Amsterdam UMC
In response to high-profile financial reporting scandals, one of the most profound changes in audit regulation of the past decade is the instalment of public oversight of the auditing profession. The objective is to ensure trust in the financial markets and enhance investor protection and the public interest. Motivated by the debate on the effectiveness of public oversight, which is not uncontested, and the paucity of empirical evidence, the proposed research investigates economic consequences of public oversight and specifically the impact of disclosure of inspection outcomes on information asymmetry and the cost of capital in the equity and debt market.
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