دانلود رایگان مقاله لاتین تعارض مواد معدنی و شرافت حرفه از سایت الزویر
عنوان فارسی مقاله:
بین یک سنگ و یک محل سخت: تعارض مواد معدنی و شرافت حرفه ای
عنوان انگلیسی مقاله:
Between a rock and a hard place: Conflict minerals and professional integrity
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بخشی از مقاله انگلیسی :
In an effort to consider today’s audit profession, we need to first understand its origins. The need for auditing arose from the agency relationship in which one or more principals contract with one or more agents to provide some service on the principal’s behalf. Due to this separation of ownership and control, agency costs result when self-interested agents prioritize maximizing their own personal wealth over the best interests of the principal (Jensen & Meckling, 1976). Agents’ opportunistic behavior can take the form of investing in negative net present value projects, shirking, or consuming perquisites. The principal-agent relationship is as old as commerce itself. In ancient Greece, the state’s money handlers were agents of the people. During the days of European exploration, the ship captains were agents of the ship investors. Throughout history, as the principal-agent relationship has facilitated commerce, the audit function has existed to independently verify results of trade. As early as 500 to 300 B.C. in the Greek city-state of Athens, three boards of state accountants verified state revenues and expenditures(Costouros, 1978). Centurieslater, during the days of European exploration, auditors confirmed whether the riches derived from trade were properly accounted for by the captains of the sailing ships. From around A.D. 1500 to 1850, auditing expanded in scope in an effort to accommodate the manufacturing activities of the Industrial Revolution. Then, in 1844, regulation was passed in the United Kingdom that required company audits; however, most corporations were already voluntarily undergoing audits at that time (Wallace, 1980). Since its inception, the audit function has provided assurance to both principal and agent. In today’s modern corporation, the independent audit is the primary way by which investors monitor the performance of management, due to the principal’s constraint of not being able to observe the agent’s day-to-day efforts. Evidence has long suggested the importance of the content of audited accounting information, as earnings are related to stock price adjustments (Ball & Brown, 1968) and accounting ratios can predict both bankruptcy (Beaver, 1966) and shareholder risk (Beaver, Kettler, & Scholes, 1970). Therefore, the benefits of auditing to the principal (i.e., investor) are clear. Agency theory suggeststhat the agent, too, reaps benefitsfrom the audit function. The agent understands that if there is a perception, right or wrong, of fraud embedded in the financial statements, he faces a potential pay cut. Therefore, he is incentivized to prove that the reported accounting figures are free of errors and fraud, expressed by the auditor’s ‘clean’ opinion.
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