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Effects of municipal, auditing and political factors on audit delay

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  • Cohen, Sandra
  • Leventis, Stergios

Abstract

We examine audit delay for financial statements prepared by Greek municipalities. Greece is an interesting setting because, despite the rigid regulatory framework that governs reporting, the penalties imposed in cases of non-compliance with regulatory deadlines are almost non-existent. We investigate specifications indicated by previous research but also municipal and political factors. Our results suggest a considerable variation in audit delay which is influenced by the political process under which municipalities operate and make decisions. We analyse further determinants of non-compliance and we analyse the characteristics of non-compliers separately. Political variables persist in explaining audit delay in terms of non-compliance.

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  • Cohen, Sandra & Leventis, Stergios, 2013. "Effects of municipal, auditing and political factors on audit delay," Accounting forum, Elsevier, vol. 37(1), pages 40-53.
    • Handle: RePEc:eee:accfor:v:37:y:2013:i:1:p:40-53
    DOI: 10.1016/j.accfor.2012.04.002
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    5. Fakhroddin MohammadRezaei & Norman Mohd‐Saleh, 2018. "Audit report lag: the role of auditor type and increased competition in the audit market," Accounting and Finance, Accounting and Finance Association of Australia and New Zealand, vol. 58(3), pages 885-920, September.

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