What drives voluntary audit adoption in small German companies?

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dc.contributorAalto-yliopistofi
dc.contributorAalto Universityen
dc.contributor.authorWeik, Andreas
dc.contributor.authorEierle, Brigitte
dc.contributor.authorOjala, Hannu
dc.contributor.departmentUniversity of Bamberg
dc.contributor.departmentDepartment of Accounting
dc.date.accessioned2018-12-10T10:13:30Z
dc.date.available2018-12-10T10:13:30Z
dc.date.issued2018-11-01
dc.description.abstractThe purpose of this study is to validate the drivers of voluntary audit in small companies identified in previous research and uncover additional determinants related to agency conflicts with owners. For our research we use the German institutional setting, documented in the literature as being very different from its Anglo-Saxon equivalent. Based on a random sample of 405 small companies responding to a postal questionnaire survey, we find that the proportion of owners not involved in management, the subsidiary status of a company, a company's legal form, and the importance of financial statements' information to management activities all increase the likelihood of voluntary audit. In contrast, firms that outsource accounting tasks to an external expert are less likely to opt for voluntary audit, suggesting that an external expert's involvement substitutes for an external audit. In addition, owing to the absence of a statutory audit history for small companies in Germany, we find that voluntary audits are less common compared with findings from previous studies.en
dc.description.versionPeer revieweden
dc.format.extent19
dc.format.extent503-521
dc.format.mimetypeapplication/pdf
dc.identifier.citationWeik , A , Eierle , B & Ojala , H 2018 , ' What drives voluntary audit adoption in small German companies? ' , INTERNATIONAL JOURNAL OF AUDITING , vol. 22 , no. 3 , pp. 503-521 . https://doi.org/10.1111/ijau.12134en
dc.identifier.doi10.1111/ijau.12134
dc.identifier.issn1090-6738
dc.identifier.otherPURE UUID: 31230e0e-974b-4928-af19-ee164e0bd652
dc.identifier.otherPURE ITEMURL: https://research.aalto.fi/en/publications/31230e0e-974b-4928-af19-ee164e0bd652
dc.identifier.otherPURE LINK: http://www.scopus.com/inward/record.url?scp=85052633664&partnerID=8YFLogxK
dc.identifier.otherPURE FILEURL: https://research.aalto.fi/files/30077335/BIZ_Weik_et_al_2018_International_Journal_of_Auditing.pdf
dc.identifier.urihttps://aaltodoc.aalto.fi/handle/123456789/34980
dc.identifier.urnURN:NBN:fi:aalto-201812105995
dc.language.isoenen
dc.relation.ispartofseriesINTERNATIONAL JOURNAL OF AUDITINGen
dc.relation.ispartofseriesVolume 22, issue 3en
dc.rightsopenAccessen
dc.subject.keywordAgency theory
dc.subject.keywordauditor choice
dc.subject.keywordexternal audit
dc.titleWhat drives voluntary audit adoption in small German companies?en
dc.typeA1 Alkuperäisartikkeli tieteellisessä aikakauslehdessäfi
dc.type.versionpublishedVersion
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