Investigating the Factors Affecting Timely Audit Reports

With regard to the importance of financial statements and the role and value of information for decision makers and investors, it is required that corporate audit reports to be up to date, to rely on the information. The aim of this study is to investigate the factors affecting timely publication of audit reports. This required the impacts of the three factors of independent auditor, corporate governance and audit committee on audit reports delay to be tested empirically. The present study in terms of purpose is pragmatic and post-event in approach. The study period is from 2012 to 2016, and the selected sample consists of 115 companies listed in the Tehran Stock Exchange. The research hypotheses were tested by multivariate regression model and EViews 9.
Findings of the research indicated that audit firm size, auditor's opinion, reporting risk, number of audit report items and board size have significant and positive effects on audit reports delay. Also, focus of ownership and expertise of the members of audit committee have significant and negative effects on the delays in audit reports. According to the research findings, it is suggested that to increase the qualitative characteristics of information, attention should be paid to the factors affecting the delay of audit reports.