IDEAS home Printed from https://ideas.repec.org/a/ora/journl/v1y2016i1p812-822.html
   My bibliography  Save this article

Challenges Incurred In The Auditing Of Fair Value Measurements

Author

Listed:
  • Silviu-Virgil Chiriac

    (University -)

Abstract

The purpose of the auditors' work is to establish confidence between the producers and users of accounting information. Thus, auditors help protect the interests of different categories of beneficiaries of accounting information when they make economic decisions. The prevalence of fair values in the financial statements as their inherent measurement uncertainty has increased dramatically in recent years and is recognized as representing a significant problem for regulators. In these circumstances we ask which are the difficulties encountered by auditors in auditing fair values, what kinds of deficiencies they find within auditing and whether the complexity of measurements of fair value jeopardizes the ability of auditors to give a highly secure opinion.

Suggested Citation

  • Silviu-Virgil Chiriac, 2016. "Challenges Incurred In The Auditing Of Fair Value Measurements," Annals of Faculty of Economics, University of Oradea, Faculty of Economics, vol. 1(1), pages 812-822, July.
    • Handle: RePEc:ora:journl:v:1:y:2016:i:1:p:812-822
    as

    Download full text from publisher

    File URL: http://anale.steconomiceuoradea.ro/volume/2016/n1/79.pdf
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Leslie Hodder & William J. Mayew & Mary Lea McAnally & Connie D. Weaver, 2006. "Employee Stock Option Fair†Value Estimates: Do Managerial Discretion and Incentives Explain Accuracy?," Contemporary Accounting Research, John Wiley & Sons, vol. 23(4), pages 933-975, December.
    2. repec:dau:papers:123456789/1858 is not listed on IDEAS
    3. Jean-François Casta & Bernard Colasse, 2001. "Juste valeur," Post-Print halshs-00669417, HAL.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Eric Cauvin & Pierre-Laurent Bescos, 2005. "Nature Et Caracteristiques Des Informations Utilisees Par Les Entreprises Françaises Dans Le Cadre De Leur Communication Financiere : Une Etude Empirique," Post-Print halshs-00581142, HAL.
    2. Alexander Merz, 2020. "Expensing performance-vested executive stock options: is there underreporting under IFRS 2?," Journal of Business Economics, Springer, vol. 90(3), pages 461-493, April.
    3. Jean Cartelier, 2006. "Comptabilité et pensée économique. Introduction à une réflexion théorique," Revue économique, Presses de Sciences-Po, vol. 57(5), pages 1009-1032.
    4. Jean-François Casta, 2003. "Does fair value accounting provide a better representation of a company?," Revue d'Économie Financière, Programme National Persée, vol. 71(2), pages 11-24.
    5. Mariana Man & Maria Ciurea, 2016. "Transparency of Accounting Information in Achieving Good Corporate Governance. True View and Fair Value," Social Sciences and Education Research Review, Department of Communication, Journalism and Education Sciences, University of Craiova, vol. 3(1), pages 41-62, May.
    6. FIRESCU Victoria & BONDOC Maria Daniela, 2016. "The Relevance Of Comprehensive Income Compared To Net Income For The Measurement And Presentation Of Company Performance," Annals of University of Craiova - Economic Sciences Series, University of Craiova, Faculty of Economics and Business Administration, vol. 1(44), pages 71-82.
    7. Mihaela-Cristina Onica, 2013. "Harmonization and Convergence – Coordinates of Accounting Globalization," Acta Universitatis Danubius. OEconomica, Danubius University of Galati, issue 9(2), pages 52-64, April.
    8. Bernard Colasse, 2004. "L'évolution récente du droit comptable," Post-Print halshs-00665150, HAL.
    9. Samira Demaria & Frédéric Marty, 2007. "Financiarisation, Evaluation et Information Comptable : De la création de valeur aux IFRS," Post-Print halshs-00266259, HAL.
    10. Kusano, Masaki, 2020. "Does recognition versus disclosure affect risk relevance? Evidence from finance leases in Japan," Journal of International Accounting, Auditing and Taxation, Elsevier, vol. 38(C).
    11. Atif Ellahie & Xiaoxia Peng, 2021. "Management forecasts of volatility," Review of Accounting Studies, Springer, vol. 26(2), pages 620-655, June.
    12. Djamel Khouatra, 2016. "L'intégration des normes comptables internationales IAS-IFRS dans les systèmes comptables francophones : cas du Système Comptable Financier algérien," Post-Print hal-01901025, HAL.
    13. Haverals, Jacqueline, 2005. "IAS/IFRS in Belgium: Quantitative Analysis of the Impact on the Tax Burden of Companies," ZEW Discussion Papers 05-38, ZEW - Leibniz Centre for European Economic Research.
    14. Victor Munteanu & Marilena Zuca, 2015. "Debate Regarding Measuring Accounting Value: Historical Cost against Fair Value," Academic Journal of Economic Studies, Faculty of Finance, Banking and Accountancy Bucharest,"Dimitrie Cantemir" Christian University Bucharest, vol. 1(4), pages 91-102, December.
    15. Jean-François Casta, 2003. "La comptabilité en « juste valeur » permet-elle une meilleure représentation de l’entreprise ?," Revue d'Économie Financière, Programme National Persée, vol. 71(2), pages 17-31.
    16. Lel, Ugur & Tepe, Mete, 2021. "Investor horizon and managerial short-termism," The Quarterly Review of Economics and Finance, Elsevier, vol. 80(C), pages 1-20.
    17. Bernard Colasse, 2009. "La normalisation comptable internationale face à la crise," Revue d'Économie Financière, Programme National Persée, vol. 95(2), pages 387-399.
    18. Clémence Garcia, 2011. "A Brief History of Accounting for Goodwill in Japan and France: War, Tax and Accounting Practice," Gakushuin Economic Papers, Gakushuin University, Faculty of Economics, vol. 48(1), pages 45-64.
    19. repec:dau:papers:123456789/1860 is not listed on IDEAS
    20. Marilena-Roxana Zuca, 2015. "The Faithful Image And Fair Value - Main Objectives In Inssuring Transparency Of The Financial And Accounting Information," Romanian Economic Business Review, Romanian-American University, vol. 9(2), pages 460-468, December.
    21. Deaconu Adela & Nistor Cristina & Cuzdriorean Dan, 2009. "Considerations On The Fair Value Of Revenues Recognized In Financial Statements," Annals of Faculty of Economics, University of Oradea, Faculty of Economics, vol. 3(1), pages 877-882, May.

    More about this item

    Keywords

    audit; evaluation; fair value;
    All these keywords.

    JEL classification:

    • M40 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - General
    • M41 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - Accounting
    • M42 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - Auditing

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:ora:journl:v:1:y:2016:i:1:p:812-822. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Catalin ZMOLE The email address of this maintainer does not seem to be valid anymore. Please ask Catalin ZMOLE to update the entry or send us the correct address (email available below). General contact details of provider: https://edirc.repec.org/data/feoraro.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.