外文翻译审计机构对内控的审计意见对贷款决策的影响.docVIP

Ⅲ.外文翻译 外文翻译之一 The E?ect of Auditors’ Internal Control Opinions on Loan Decisions（节选） Auditor：Arnold Schneider , Bryan K Nationality：The U.S. Derivation：Journal of Accounting and Public Policy[J], 2008（P.1－18） （P.1－3） Abstract We examine the e?ect of internal control reports on lending o?cers’ assessments of a company’s creditworthiness. We suggest that an adverse internal control opinion can undermine the assurance provided by an unquali?ed opinion on ?nancial statements taken as a whole and have a negative a?ect on lenders’ assessments. In addition, we investigate whether auditor size plays a role in determining the e?ect on lenders’ judgments. We gather data from 111 loan o?cers and ?nd that their judgments are a?ected by the auditor’s report on the e?ectiveness of internal controls. The lenders’ assessment of the risk of extending a line of credit and the probability of extending the line of credit are negatively a?ected when the company receives an adverse internal control opinion as compared to an unquali?ed one. We do not ?nd any evidence that the e?ect is lessened by the use of a Big Four auditor. Additional analyses suggest that an adverse internal control opinion weakens the importance assigned to the balance sheet and income statement in lending decisions and reduces lenders’ con?dence that ?nancial statements are presented fairly in conformance with generally accepted accounting principles. Introduction This paper reports the results of an experiment designed to examine the e?ect of internal control reports on bank loan o?cers’ assessments of a company’s creditworthiness. According to Section 404 of the Sarbanes–Oxley Act (SOX), the auditor must attest to,and report on, management’s assessment of the e?ectiveness of internal control over ?nancial reporting. If the system includes one or more material weaknesses, management may not conclude that internal control is e?ective, and the auditor must express an adverse opinion (PCAOB, 2004). Notwithstanding t