Corporate Governance and Its Association with Audit Opinion: The Case of Greece

Georgia Boskou (), Maria Tsipouridou () and Charalambos Spathis
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Georgia Boskou: International Hellenic University
Maria Tsipouridou: Aristotle University of Thessaloniki

A chapter in Advances in Longitudinal Data Methods in Applied Economic Research, 2021, pp 357-378 from Springer

Abstract: Abstract This study assesses the impact of: (1) internal controls and audit compliance disclosures, (2) compliance with good corporate governance practices, and (3) the level of earnings management, on the type of audit opinion issued by the external auditor (unmodified opinion vs. unmodified with emphasis of matter paragraph), in a “comply-or-explain” corporate governance regime. This study also examines if these disclosures affect the number of issues identified in the emphasis of matter paragraph of an unmodified opinion. Data on disclosures were hand-collected from the annual reports of 341 companies listed on the Athens Stock Exchange, for the period 2014–2015. The results indicate that internal controls and corporate governance disclosures seem to have an impact on the type of audit opinion issued by the external auditor, as well as on the number of issues included in the unmodified opinion with emphasis of matter paragraph.

Keywords: Internal controls; Corporate governance; External audit; Greece (search for similar items in EconPapers)
Date: 2021
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Persistent link: https://EconPapers.repec.org/RePEc:spr:prbchp:978-3-030-63970-9_25

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DOI: 10.1007/978-3-030-63970-9_25

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