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Internal control reporting differences among public and governmental auditors: The case of city and county Circular A-133 audits

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  • López, Dennis M.
  • Peters, Gary F.

Abstract

We investigate potential differences in audit reporting outcomes between Circular A-133 audits performed by governmental auditors vs. those performed by certified public accounting (CPA) firms. Specifically, we investigate the association between auditor type and the likelihood of auditor-disclosed internal control concerns. We employ a cross-sectional sample of 13,386 single audit reports of US cities and counties during 2004-2006. In contrast to prior literature, the results indicate that in the post-Sarbanes-Oxley environment, CPA firms appear more likely to issue audit reports that identify internal control concerns than are governmental auditors in the context of Circular A-133 audits. The differences are more pronounced for larger CPA firms.

Suggested Citation

  • López, Dennis M. & Peters, Gary F., 2010. "Internal control reporting differences among public and governmental auditors: The case of city and county Circular A-133 audits," Journal of Accounting and Public Policy, Elsevier, vol. 29(5), pages 481-502, September.
  • Handle: RePEc:eee:jappol:v:29:y::i:5:p:481-502
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    Cited by:

    1. Dennis M. Lopez & Pamela C. Smith, 2010. "Auditor Type and Audit Quality Differences in Nonprofit Healthcare Organizations – U.S. Evidence," Working Papers 0107, College of Business, University of Texas at San Antonio.
    2. Oliver Henk, 2020. "Internal control through the lens of institutional work: a systematic literature review," Journal of Management Control: Zeitschrift für Planung und Unternehmenssteuerung, Springer, vol. 31(3), pages 239-273, September.
    3. Dennis M. Lopez & Pamela C. Smith, 2010. "Auditor Type and Audit Quality Differences in Nonprofit Healthcare Organizations – U.S. Evidence," Working Papers 0107, College of Business, University of Texas at San Antonio.
    4. López, Dennis M. & Rich, Kevin T., 2017. "Geographic distance and municipal internal control reporting," Advances in accounting, Elsevier, vol. 36(C), pages 40-49.
    5. González-Díaz, Belén & García-Fernández, Roberto & López-Díaz, Antonio, 2015. "Auditor tenure and audit quality in Spanish state-owned foundations," Revista de Contabilidad - Spanish Accounting Review, Elsevier, vol. 18(2), pages 115-126.
    6. Edmonds, Christopher T. & Leece, Ryan D. & Vermeer, Beth Y. & Vermeer, Thomas E., 2023. "The role of adverse outcomes in municipal debt costs," Advances in accounting, Elsevier, vol. 63(C).

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