Análisis del valor comunicativo de los informes de auditoría españoles tras la inclusión de las cuestiones clave de auditoría

  1. María Antonia García Benau 1
  2. Laura Sierra García 2
  3. Nicolás Gambetta 3
  1. 1 Universitat de València
    info

    Universitat de València

    Valencia, España

    ROR https://ror.org/043nxc105

  2. 2 Universidad Pablo de Olavide
    info

    Universidad Pablo de Olavide

    Sevilla, España

    ROR https://ror.org/02z749649

  3. 3 Universidad Ort Uruguay
    info

    Universidad Ort Uruguay

    Montevideo, Uruguay

    ROR https://ror.org/03ypykr22

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Journal:
Revista de Contabilidad y Tributación. CEF

ISSN: 2695-6896,  2792-8306

Year of publication: 2022

Issue: 466

Type: Article

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More publications in: Revista de Contabilidad y Tributación. CEF

Abstract

In recent years the content of the audit report has evolved significantly. Spain, through the NIAES, has established the standards that regulate its content, contemplating the incorporation of a section that reports on the most significant risks that have attracted the auditor's attention. In this research we study whether the inclusion of the key audit matters (KAM) has had a real impact on the quality of the audit, proxied by the communicative value of the audit report. Specifically, we analyze the readability of the risks linked to the KAM and whether the client and audit firm’s characteristics determine this readability. The results of our empirical study, based on the Ibex 35 companies for the period 2017-2019 (the period in which these new regulations came into force in Spain), show that the readability is low in both, the description of the risks and the description of the audit procedures performed by the auditor to address them. The most relevant readability determinant of the KAM is the audit firm. The incumbent audit firm, the change of auditor and the industry specialization also affect the KAM readability. This research shows that work must be done to improve the clarity of the auditor's report, which will have an impact on the user’s understanding of the content of the audit report. Therefore, the conclusions of this research are of great relevance for regulators, the practice and the academia.

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