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Publication date: 10 August 2023

Alfred Bu, Masoud Azizkhani and Alicia Jiang

This study aims to investigate whether and how auditors responded to the documented increases in earnings management after split-share structure reform (SSSR) in China, as…

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Abstract

Purpose

This study aims to investigate whether and how auditors responded to the documented increases in earnings management after split-share structure reform (SSSR) in China, as manifested in auditors’ propensity to issue modified audit opinions (MAOs) after the SSSR. This study further investigates how client importance and auditor size influence auditors’ response to earnings management after the SSSR.

Design/methodology/approach

This study adopts logit regression models to investigate auditors’ propensity to issue MAOs to their clients that appear to manage earnings after the SSSR. Initially, including all Chinese publicly listed firms from the CSMAR database, the sample for final analyses consists of 21,904 firm-year observations for 1,290 unique listed firms during the period 2001–2020. The sample period surrounds the implementation of the SSSR, which started in 2005, allowing the examination of auditors’ propensity to issue MAOs after vis-à-vis before the SSSR.

Findings

The authors find that non-Big10 auditors in China were less likely to issue MAOs to their economically important clients who appear to manage earnings after SSSR. However, in the years of non-tradeable shares being released to the markets, both Big10 and non-Big10 auditors were less likely to issue MAOs to their economically important clients who appear to manage earnings. The findings suggest that auditors may have compromised auditor independence in response to earnings management after the SSSR, likely due to the pressure from their economically important clients.

Originality/value

This paper contributes to the literature, specifically the practice and theory in auditing, by shedding light on ever-changing auditors’ reporting behaviour, especially with regard to auditor independence. It also adds to the growing body of literature on the impact of institutional changes on auditing practices worldwide. The findings of this study further suggest that the recently documented declining demand for high-quality audits after the SSSR may be motivated by the clients’ intention to manage earnings after the SSSR.

Details

Pacific Accounting Review, vol. 35 no. 4
Type: Research Article
ISSN: 0114-0582

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Publication date: 1 March 1903

The President of the Board of Agriculture has introduced in the House of Commons his long‐promised Bill for preventing the sale of butter containing large amounts of water, and…

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Abstract

The President of the Board of Agriculture has introduced in the House of Commons his long‐promised Bill for preventing the sale of butter containing large amounts of water, and the proposed measure appears to have been received with general approval on both sides of the House.

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British Food Journal, vol. 5 no. 3
Type: Research Article
ISSN: 0007-070X

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Article
Publication date: 1 February 1904

With the view of obtaining reliable first‐hand information as to the nature and efficacy of the food laws in Great Britain, France, and Germany, Mr. ROBERT ALLEN, the Secretary of…

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Abstract

With the view of obtaining reliable first‐hand information as to the nature and efficacy of the food laws in Great Britain, France, and Germany, Mr. ROBERT ALLEN, the Secretary of the Pure Food Commission of Kentucky, has recently visited London, Paris, and Berlin. He has now published a report, containing a number of facts and conclusions of very considerable interest and importance, which, we presume, will be laid before the great Congress of Food Experts to be held on the occasion of the forthcoming exposition at St. Louis. Mr. ALLEN severely criticises the British system, and calls particular attention to the evils attending our feeble legislation, and still more feeble administrative methods. The criticisms are severe, but they are just. Great Britain, says Mr. ALLEN, is par excellence the dumping‐ground for adulterated, sophisticated, and impoverished foods of all kinds. France, Germany, and America, he observes, have added a superstructure to their Tariff walls in the shape of standards of purity for imported food‐products, while through Great Britain's open door are thrust the greater part of the bad goods which would be now rejected in the three countries above referred to. Whatever views may be held as to the imposition of Tariffs no sane person will deny the importance of instituting some kind of effective control over the quality of imported food products, and, while it may be admitted that an attempt—all too restricted in its nature—has been made in the Food Act of 1899 to deal with the matter, it certainly cannot be said that any really effective official control of the kind indicated is at present in existence in the British Isles. We agree with Mr. ALLEN'S statement that our food laws are inadequate and that, such as they are, those laws are poorly enforced, or not enforced at all. It is also true that there are no “standards” or “limits” in regard to the composition and quality of food products “except loose and low standards for butter and milk,” and we are compelled to admit that with the exception of the British Analytical Control there exists no organisation—either official or voluntary —which can be said to concern itself in a comprehensive and effective manner with the all‐important subject of the nature and quality of the food supply of the people. In the United States, and in some of those European countries which are entitled to call themselves civilised, the pure food question has been studied carefully and seriously in recent years—with the result that legislation and administrative machinery of far superior types to ours are rapidly being introduced. With us adulteration, sophistication, and the supply of inferior goods are still commonly regarded as matters to be treated in a sort of joking spirit, even by persons whose education and position are such as to make their adoption of so foolish an attitude most astonishing to those who have given even but slight attention to the subject. Lethargy, carelessness, and a species of feeble frivolity appear to be growing among us to such an extent as to threaten to become dangerous in a national sense. We should be thankful for outspoken criticism—if only for the bracing effect it ought to produce.

Details

British Food Journal, vol. 6 no. 2
Type: Research Article
ISSN: 0007-070X

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Article
Publication date: 1 August 1909

Dr. EASTWOOD'S report to the Local Government Board on this subject is of special interest to the people of this country at the present time in view of the steps that are being…

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Abstract

Dr. EASTWOOD'S report to the Local Government Board on this subject is of special interest to the people of this country at the present time in view of the steps that are being taken with the object of checking the spread of tuberculosis, and the undoubted connections that exist between that and other diseases, and the sources and character of the milk supply. In this country little attention has hitherto been paid to the condition of cows or cowsheds, except perhaps in rare instances where the former were obviously diseased, or the latter constituted a public nuisance; while the connection between milk supply and disease has scarcely been recognised by the Legislature and by public authorities, and has been entirely ignored by the general public. For some years past the health authorities in the United States, as well as those of some other countries, have been making very serious efforts to eradicate tuberculosis from dairy herds, if that be possible. The way in which some of the various States and Cities of the Union are attempting to do this is of importance and interest to us for various reasons. Their problems are very much the same as ours. The success or failure of milk regulations in the United States may, therefore, be taken as an indication of the probable success or failure of ours. Such methods are, therefore, valuable as broadly suggesting those which we may usefully adopt or avoid. The United States also send us a large proportion of our oversea meat supply, and any question relating to the general health of dairy herds cannot be dissociated from one affecting the general health of animals that are slaughtered for their meat. It may also be remarked that such questions relate not only to the meat supply from the States, but also to the great cattle ranches of the Southern American continent, in which British and American capital is becoming increasingly employed. The Americans are nothing if not practical. They are almost proverbially unhampered by tradition. They are quick to adopt what may prove to be new remedies for old evils. While the independent control exercised by each State of the Union over its own internal affairs results in the attempted solution of any general problem being presented in almost as many forms.

Details

British Food Journal, vol. 11 no. 8
Type: Research Article
ISSN: 0007-070X

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Article
Publication date: 1 February 1903

The king's speech on the occasion of the opening of Parliament contained the announcement that further measures are to be proposed during the present Session for dealing with the…

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Abstract

The king's speech on the occasion of the opening of Parliament contained the announcement that further measures are to be proposed during the present Session for dealing with the adulteration of dairy produce. It may be hoped that among other things this statement foreshadows an intention on the part of the Government to deal in some way with the drugging of milk and milk products—for the purpose of establishing somewhat more effective legal checks upon the abominable practice referred to than any which are at present applicable. As anything in the nature of comprehensive legislation appears to bo out of the question, we must be thankful for what we can get; and while many improvements in the law are required to enable other forms of sophistication and adulteration of dairy produce to be more effectively controlled, the amendment which is of primary importance is one which will take the direction indicated above, since the public health is directly and far more seriously affected by the ingestion of food containing “preservative” chemicals than by the use of merely impoverished or “faked” products—injurious and dangerous as some of these may nevertheless be particularly to infants and invalids.

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British Food Journal, vol. 5 no. 2
Type: Research Article
ISSN: 0007-070X

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Article
Publication date: 1 April 1950

Alfred Bernhard

Much publicity has been given to tourism as a dollar‐earner for Europe. Looking at the travel statistics of the United States of America one cannot get rid of a feeling that the…

60

Abstract

Much publicity has been given to tourism as a dollar‐earner for Europe. Looking at the travel statistics of the United States of America one cannot get rid of a feeling that the role of tourism as a means to close the dollar gap has been over‐emphasized. Certainly, much more Americans visited Europe in 1948 than in 1944, but compared with 1936 the difference is not so large and the figures of 1929 will not even be reached in 1950. In the long run, therefore, a substancial increase has not been achieved. It even seems to be a modest result, considering the fact that for six years travels to Europe have been barred and a pent‐up demand existed, and considering the fact that Americans have a substancially increased spending power.

Details

The Tourist Review, vol. 5 no. 4
Type: Research Article
ISSN: 0251-3102

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Article
Publication date: 1 January 1906

Some misconception appears to have been caused in certain districts by the issue of a circular by the Local Government Board, dated December 12, 1905, and addressed to the Clerks…

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Abstract

Some misconception appears to have been caused in certain districts by the issue of a circular by the Local Government Board, dated December 12, 1905, and addressed to the Clerks and Town Clerks of counties and boroughs. In many cases the letter in question has been forwarded to the Public Analysts, who, seeing it for the first time, naturally imagine that it imposes fresh duties on them, and that the Public Analyst is to collect and tabulate the details with regard to prosecutions and fines.

Details

British Food Journal, vol. 8 no. 1
Type: Research Article
ISSN: 0007-070X

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Article
Publication date: 1 October 1909

The use of boron compounds or other preservatives of the nature of drugs in cream is alleged to be necessary mainly for two reasons, namely, long distance transit leading to a…

35

Abstract

The use of boron compounds or other preservatives of the nature of drugs in cream is alleged to be necessary mainly for two reasons, namely, long distance transit leading to a considerable lapse of time between despatch and consumption, and the uncertainty attaching to the disposal of consignments of perishable and valuable material in a fresh or apparently fresh condition.

Details

British Food Journal, vol. 11 no. 10
Type: Research Article
ISSN: 0007-070X

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Article
Publication date: 1 December 1905

In Table IV. are given the averages of the three samples of each cow's milk given morning and evening. The average fat for the three samples of the milk of cow A is 3.92; cow B…

27

Abstract

In Table IV. are given the averages of the three samples of each cow's milk given morning and evening. The average fat for the three samples of the milk of cow A is 3.92; cow B, 3.26; and cow C, 3.24, and if these were all mixed together the average fat would be 3.45 for the morning milk. The average fat of the three samples taken from the cows A, B, and C in the afternoon is—A, 5.08; B, 3.08; and C, 3.54; and the average of the three milks is 3.85. In the same table are shown the first two samples of each cow's milk mixed together both morning and evening. By referring to Tables II. and III. under cow A it will be seen that the milk fat of the first and second samples is 2.30 and 3.67, and these added together are shown on Table IV. under cow A, and similarly with cow B and cow C night and morning. It will also be seen that the milk fat in the morning milk of cow A is 3.21; cow B, 2.49; and cow C, 2.15, and if these were mixed together the average fat would be 2.61. The average fat of two samples of milk taken from cow A in the afternoon is 4.50; cow B, 2.67; cow C, 2.12, and if mixed together the average fat is 3.08. It is interesting to note that if cow B was milked for six minutes in the morning, and the milk sold, the sample would be .51 deficient in fat, and the dairyman could honestly say that the milk was sold as it came from the cow. There is also a deficiency in the fat of the milk of cow C in the morning, and cows B and C in the afternoon.

Details

British Food Journal, vol. 7 no. 12
Type: Research Article
ISSN: 0007-070X

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Publication date: 1 October 1911

Dr. F. J. H. COUTTS'S report to the Local Government Board on an inquiry as to condensed milks, with special reference to their use as infants' foods, has been issued as No 56 of…

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Abstract

Dr. F. J. H. COUTTS'S report to the Local Government Board on an inquiry as to condensed milks, with special reference to their use as infants' foods, has been issued as No 56 of the new series of reports on public health and medical subjects.

Details

British Food Journal, vol. 13 no. 10
Type: Research Article
ISSN: 0007-070X

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