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Papers by Ann Vanstraelen

Research paper thumbnail of PCAOB Inspections and Audit Fees: An Analysis of Inspection Rounds of Small Audit Firms

European Accounting Review

Research paper thumbnail of Kwantitatief bekeken: liber amicorum Robert Van Straelen

Research paper thumbnail of Cultuuromslag accountantskantoren: een ‘conditio sine qua non’ voor verbetering kwaliteit accountantscontrole

Research paper thumbnail of Audit Firm Culture: Recent Developments and Trends in the Literature

European Accounting Review

Research paper thumbnail of The use of planning and control practices in SME's and the relationship with company performance

This paper presents the results of empirical research on the use of management accounting systems... more This paper presents the results of empirical research on the use of management accounting systems in small and medium sized enterprises (SMEs) and the relationship with company performance. The results show that the use of planning and control methods differ significantly according to the size and industry of the firm. Successful companies seem to have more formal long-term plans. While

Research paper thumbnail of Earnings management: the effects of national audit environment, audit quality and international capital markets

This paper studies earnings management in an international context. More specifically, the effect... more This paper studies earnings management in an international context. More specifically, the effects of three factors on earnings management are studied: national audit environment, audit firm quality and reliance on international capital markets. National audit environments vary strongly in terms of independence rules, auditor education and auditor liability. Hence, it can be expected that the restrictions imposed by national audit

Research paper thumbnail of Corporate governance and cash policies of multinational corporations

This study investigates cash policies of multinational corporations (MNCs) for a large sample of ... more This study investigates cash policies of multinational corporations (MNCs) for a large sample of European MNCs and their subsidiaries in the period 1998-2004. The results are consistent with the hypothesis that cash holdings depend on a trade-off between the superior knowledge of the subsidiary over headquarters and the agency costs of discretionary behavior by the subsidiary’s management. We find that

Research paper thumbnail of Auditors’ Professional Skepticism: Traits, Behavioral Intentions, and Actions

Research paper thumbnail of De rol van accounting en accountingonderzoek in de economische crisis

Research paper thumbnail of Investor Reaction to Auditors' Going Concern Emphasis of Matter: Evidence from a Natural Experiment

AUDITING: A Journal of Practice & Theory

SUMMARY Using a “natural experiment” provided by a change in Canadian auditing standards requirin... more SUMMARY Using a “natural experiment” provided by a change in Canadian auditing standards requiring an emphasis of matter paragraph in the auditor's report (GC-EOM) when the financial statements include a going concern uncertainty disclosure (GC-FS), this paper examines the incremental investor reaction to the auditor's report over the related GC-FS. Conditioning on the linguistic severity of the GC-FS (weak and severe), we first document a negative price response to severe but not to weak GC-FS before the regulatory change. This implies that investors react to financial statement disclosures and account for their degree of interpretability in the absence of a GC-EOM. When the uncertainty disclosure is accompanied by a GC-EOM, we find incremental negative abnormal returns and lower abnormal trading volume only for weak GC-FS. Collectively, these findings imply that an emphasis of matter paragraph in the auditor's report can have incremental value to investors. JEL Classif...

Research paper thumbnail of Discussion of “How Does Intrinsic Motivation Improve Auditor Judgment in Complex Audit Tasks?”

Contemporary Accounting Research

Research paper thumbnail of Going-Concern Opinions, Auditor Switching, and the Self-Fulfilling Prophecy Effect Examined in the Regulatory Context of Belgium

Journal of Accounting, Auditing & Finance, 2003

Research paper thumbnail of Auditing Private Companies: What Do We Know?

SSRN Electronic Journal, 2000

Research paper thumbnail of Financi�le rapportering en analyse, met oefeningen

Research paper thumbnail of EIASM�s EDEN Doctoral Seminar on Analytical Accounting Research

Research paper thumbnail of Audit regulation in Belgium: Overregulation in a limited capital market oriented country?

Research paper thumbnail of International Archival Auditing and Assurance Research: Trends, Methodological Issues and Opportunities

AUDITING: A Journal of Practice & Theory, 2016

SUMMARY We present a comprehensive review of the 130 international archival auditing and assuranc... more SUMMARY We present a comprehensive review of the 130 international archival auditing and assurance research articles that were published in eight leading accounting and auditing journals for 1995–2014. In order to support evidence-based international standard setting and regulation, and to identify what has been learned to date, we map this research to the International Auditing and Assurance Standards Board's (IAASB) Framework for Audit Quality. For the areas that have been well researched, we provide a summary of the findings and outline how they can inform standard setters and regulators. We also observe a significant evolution in international archival research over the 20 years of our study, as evidenced by the measures of audit quality, data sources used, and approaches used to address endogeneity concerns. Finally, we identify some challenges in undertaking international archival auditing and assurance research and identify opportunities for future research. Our review is...

Research paper thumbnail of Public Oversight and Audit Quality: Evidence from Public Oversight of Audit Firms in the Netherlands

ABSTRACT Using public and proprietary data of the Dutch public oversight body, we study the trade... more ABSTRACT Using public and proprietary data of the Dutch public oversight body, we study the trade-off suggested by DeFond (2010) of expertise for independence associated with the shift from a peer review system to independent public oversight of audit firms. Specifically, we investigate the association between the audit firms’ inspection and peer review outcomes, and the audit clients’ accruals quality. Our results show that companies audited by an audit firm with a positive inspection outcome have lower abnormal accruals than companies audited by an audit firm with a negative inspection outcome. We find no significant association between the peer review outcomes for audit firms with public interest entities and the audit clients’ abnormal accruals. Furthermore, we find that the types of weaknesses identified by the public oversight body that are most able to discriminate audit quality are related to the design of the audit firm’s quality control system and independence. Overall, our study contributes to the emerging literature on the effectiveness of oversight of audit firms, and is one of the first that relates to a non-US setting.

Research paper thumbnail of International Accounting Standards: Bespreking en toepassing van de IAS/IFRS normen

ABSTRACT Beursgenoteerde groepen in de Europese Unie zijn sinds 1 januari 2005 verplicht hun groe... more ABSTRACT Beursgenoteerde groepen in de Europese Unie zijn sinds 1 januari 2005 verplicht hun groepsjaarrekening of geconsolideerde jaarrekening op te stellen volgens de internationale rapporteringsnormen (IAS/IFRS). In heel wat EU-landen werd deze verplichting uitgebreid naar niet-genoteerde groepen en financiele instellingen. Ook heel wat middelgrote ondernemingen kiezen nu al de internationale rapporteringsnormen voor hun groepsverslaggeving. Dit boek wil de lezer vertrouwd maken met deze nieuwe regels voor verslaggeving en hem of haar inzicht verschaffen in de toepassing ervan. Alle actieve internationale rapporteringsnormen worden in dit boek uiteengezet.

Research paper thumbnail of Does the Identity of Engagement Partners Matter? An Analysis of Audit Partner Reporting Decisions

Contemporary Accounting Research, 2015

ABSTRACT This study examines the persistence and economic consequences of variations in reporting... more ABSTRACT This study examines the persistence and economic consequences of variations in reporting style across audit partners in individual engagements. Our results show that both aggressive and conservative audit reporting, measured by the pattern of prior Type 2 and Type 1 audit reporting error rates in auditor-specific clienteles, persist over time and extend to other clients of the same partner. Analyses of abnormal accruals and persistence of client firms’ accrual estimates corroborate this finding, and hold both for private and publicly listed companies. Further, our results also show that the market penalizes client firms susceptible to aggressive audit partner reporting decisions. In particular, we find that our proxies for aggressive audit reporting are related to higher interest rates, worse credit ratings and less favorable forecasts of insolvency for private client companies, and a lower Tobin’s Q for publicly listed client companies. Collectively, these results imply that audit partner aggressive or conservative reporting is a systematic audit partner attribute and not randomly distributed across engagements.

Research paper thumbnail of PCAOB Inspections and Audit Fees: An Analysis of Inspection Rounds of Small Audit Firms

European Accounting Review

Research paper thumbnail of Kwantitatief bekeken: liber amicorum Robert Van Straelen

Research paper thumbnail of Cultuuromslag accountantskantoren: een ‘conditio sine qua non’ voor verbetering kwaliteit accountantscontrole

Research paper thumbnail of Audit Firm Culture: Recent Developments and Trends in the Literature

European Accounting Review

Research paper thumbnail of The use of planning and control practices in SME's and the relationship with company performance

This paper presents the results of empirical research on the use of management accounting systems... more This paper presents the results of empirical research on the use of management accounting systems in small and medium sized enterprises (SMEs) and the relationship with company performance. The results show that the use of planning and control methods differ significantly according to the size and industry of the firm. Successful companies seem to have more formal long-term plans. While

Research paper thumbnail of Earnings management: the effects of national audit environment, audit quality and international capital markets

This paper studies earnings management in an international context. More specifically, the effect... more This paper studies earnings management in an international context. More specifically, the effects of three factors on earnings management are studied: national audit environment, audit firm quality and reliance on international capital markets. National audit environments vary strongly in terms of independence rules, auditor education and auditor liability. Hence, it can be expected that the restrictions imposed by national audit

Research paper thumbnail of Corporate governance and cash policies of multinational corporations

This study investigates cash policies of multinational corporations (MNCs) for a large sample of ... more This study investigates cash policies of multinational corporations (MNCs) for a large sample of European MNCs and their subsidiaries in the period 1998-2004. The results are consistent with the hypothesis that cash holdings depend on a trade-off between the superior knowledge of the subsidiary over headquarters and the agency costs of discretionary behavior by the subsidiary’s management. We find that

Research paper thumbnail of Auditors’ Professional Skepticism: Traits, Behavioral Intentions, and Actions

Research paper thumbnail of De rol van accounting en accountingonderzoek in de economische crisis

Research paper thumbnail of Investor Reaction to Auditors' Going Concern Emphasis of Matter: Evidence from a Natural Experiment

AUDITING: A Journal of Practice & Theory

SUMMARY Using a “natural experiment” provided by a change in Canadian auditing standards requirin... more SUMMARY Using a “natural experiment” provided by a change in Canadian auditing standards requiring an emphasis of matter paragraph in the auditor's report (GC-EOM) when the financial statements include a going concern uncertainty disclosure (GC-FS), this paper examines the incremental investor reaction to the auditor's report over the related GC-FS. Conditioning on the linguistic severity of the GC-FS (weak and severe), we first document a negative price response to severe but not to weak GC-FS before the regulatory change. This implies that investors react to financial statement disclosures and account for their degree of interpretability in the absence of a GC-EOM. When the uncertainty disclosure is accompanied by a GC-EOM, we find incremental negative abnormal returns and lower abnormal trading volume only for weak GC-FS. Collectively, these findings imply that an emphasis of matter paragraph in the auditor's report can have incremental value to investors. JEL Classif...

Research paper thumbnail of Discussion of “How Does Intrinsic Motivation Improve Auditor Judgment in Complex Audit Tasks?”

Contemporary Accounting Research

Research paper thumbnail of Going-Concern Opinions, Auditor Switching, and the Self-Fulfilling Prophecy Effect Examined in the Regulatory Context of Belgium

Journal of Accounting, Auditing & Finance, 2003

Research paper thumbnail of Auditing Private Companies: What Do We Know?

SSRN Electronic Journal, 2000

Research paper thumbnail of Financi�le rapportering en analyse, met oefeningen

Research paper thumbnail of EIASM�s EDEN Doctoral Seminar on Analytical Accounting Research

Research paper thumbnail of Audit regulation in Belgium: Overregulation in a limited capital market oriented country?

Research paper thumbnail of International Archival Auditing and Assurance Research: Trends, Methodological Issues and Opportunities

AUDITING: A Journal of Practice & Theory, 2016

SUMMARY We present a comprehensive review of the 130 international archival auditing and assuranc... more SUMMARY We present a comprehensive review of the 130 international archival auditing and assurance research articles that were published in eight leading accounting and auditing journals for 1995–2014. In order to support evidence-based international standard setting and regulation, and to identify what has been learned to date, we map this research to the International Auditing and Assurance Standards Board's (IAASB) Framework for Audit Quality. For the areas that have been well researched, we provide a summary of the findings and outline how they can inform standard setters and regulators. We also observe a significant evolution in international archival research over the 20 years of our study, as evidenced by the measures of audit quality, data sources used, and approaches used to address endogeneity concerns. Finally, we identify some challenges in undertaking international archival auditing and assurance research and identify opportunities for future research. Our review is...

Research paper thumbnail of Public Oversight and Audit Quality: Evidence from Public Oversight of Audit Firms in the Netherlands

ABSTRACT Using public and proprietary data of the Dutch public oversight body, we study the trade... more ABSTRACT Using public and proprietary data of the Dutch public oversight body, we study the trade-off suggested by DeFond (2010) of expertise for independence associated with the shift from a peer review system to independent public oversight of audit firms. Specifically, we investigate the association between the audit firms’ inspection and peer review outcomes, and the audit clients’ accruals quality. Our results show that companies audited by an audit firm with a positive inspection outcome have lower abnormal accruals than companies audited by an audit firm with a negative inspection outcome. We find no significant association between the peer review outcomes for audit firms with public interest entities and the audit clients’ abnormal accruals. Furthermore, we find that the types of weaknesses identified by the public oversight body that are most able to discriminate audit quality are related to the design of the audit firm’s quality control system and independence. Overall, our study contributes to the emerging literature on the effectiveness of oversight of audit firms, and is one of the first that relates to a non-US setting.

Research paper thumbnail of International Accounting Standards: Bespreking en toepassing van de IAS/IFRS normen

ABSTRACT Beursgenoteerde groepen in de Europese Unie zijn sinds 1 januari 2005 verplicht hun groe... more ABSTRACT Beursgenoteerde groepen in de Europese Unie zijn sinds 1 januari 2005 verplicht hun groepsjaarrekening of geconsolideerde jaarrekening op te stellen volgens de internationale rapporteringsnormen (IAS/IFRS). In heel wat EU-landen werd deze verplichting uitgebreid naar niet-genoteerde groepen en financiele instellingen. Ook heel wat middelgrote ondernemingen kiezen nu al de internationale rapporteringsnormen voor hun groepsverslaggeving. Dit boek wil de lezer vertrouwd maken met deze nieuwe regels voor verslaggeving en hem of haar inzicht verschaffen in de toepassing ervan. Alle actieve internationale rapporteringsnormen worden in dit boek uiteengezet.

Research paper thumbnail of Does the Identity of Engagement Partners Matter? An Analysis of Audit Partner Reporting Decisions

Contemporary Accounting Research, 2015

ABSTRACT This study examines the persistence and economic consequences of variations in reporting... more ABSTRACT This study examines the persistence and economic consequences of variations in reporting style across audit partners in individual engagements. Our results show that both aggressive and conservative audit reporting, measured by the pattern of prior Type 2 and Type 1 audit reporting error rates in auditor-specific clienteles, persist over time and extend to other clients of the same partner. Analyses of abnormal accruals and persistence of client firms’ accrual estimates corroborate this finding, and hold both for private and publicly listed companies. Further, our results also show that the market penalizes client firms susceptible to aggressive audit partner reporting decisions. In particular, we find that our proxies for aggressive audit reporting are related to higher interest rates, worse credit ratings and less favorable forecasts of insolvency for private client companies, and a lower Tobin’s Q for publicly listed client companies. Collectively, these results imply that audit partner aggressive or conservative reporting is a systematic audit partner attribute and not randomly distributed across engagements.