內部控制缺失之揭露與實質盈餘管理之關聯性

Abstract

由於過去文獻多在探討內部控制有效性對裁決性應計數盈餘管理的影響，本研究主要則是在探討實質盈餘管理的使用與內部控制缺失兩者間的關聯性。本研究以2004年至2010年之美國公開發行公司為研究對象，利用SOX 404會計師所出具的內部控制意見書，探討內部控制有效性與實質盈餘管理之關聯性。研究結果顯示，當公司之內部控制出現缺失時，管理階層越有可能透過實質盈餘管理以達預期盈餘目標。此外，本研究亦針對內控缺失之嚴重性，探討其與實質盈餘管理之關聯，結果發現，內控缺失數目越多，以及內控缺失類型屬於公司層級時，公司越會進行實質盈餘管理，且以過度生產最為顯著。

Unlike most literature that discusses the effect of internal control quality on accrual-based earnings management, this study investigates the relationship between real earnings management and internal control material weaknesses. I use the internal control opinion issued by the auditor per SOX 404 requirement to measure internal control effectiveness. Based on a sample of public U.S. firms from 2004-2010, the results show a positive association between internal control material weaknesses and real earnings management. I further examine the severity of internal control weaknesses using the number of material weaknesses and whether the weakness is company-level (vs. account-specific). The results show that the level of real earnings management, in particular overproduction, increases with the severity of internal control weaknesses.