THE INTERDEPENDENCE BETWEEN THE TYPE OF AUDIT OPINION AND THE VARIATION OF THE STOCK PRICE

Bunget Ovidiu Constantin, Lungu Cristian and Olariu Andrei-Marius
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Bunget Ovidiu Constantin: West University , Faculty of Economics and Business Administration, Timișoara, Romania
Lungu Cristian: West University , Faculty of Economics and Business Administration, Timișoara, Romania
Olariu Andrei-Marius: West University , Faculty of Economics and Business Administration, Timișoara, Romania

Annals of University of Craiova - Economic Sciences Series, 2022, vol. 1, issue 50, 89-97

Abstract: In a modern financial market, potential investors are constantly looking for high-yield and low-risk financial investments. Undoubtedly, the audit of financial statements is one of the processes that lead to minimizing the risk of financial loss, following a decision to invest in a particular company. It has already become normal for audit reports to include in addition to financial and non-financial information that could have an impact on the company's business in the future. The main objective of the study is to identify the impact of issuing audit reports on the value of shares of Romanian public companies. The paper evaluates the reaction of the Romanian stock market to the events of publishing audit reports that contain different types of audit opinions. The practical significance and relevance of the paper is due to the growing role of auditing on the financial market and the lack of such papers in the national literature.

Keywords: financial audit; stock market; audit opinion; investors; risk management (search for similar items in EconPapers)
JEL-codes: M41 M42 (search for similar items in EconPapers)
Date: 2022
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Persistent link: https://EconPapers.repec.org/RePEc:aio:aucsse:v:1:y:2022:i:50:p:89-97

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