search query: @indexterm AUDITORS / total: 514
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| Author: | Anderson, R. C. Mansi, S. A. Reeb, D. M. |
| Title: | Board characteristics, accounting report integrity, and the cost of debt |
| Journal: | Journal of Accounting & Economics
2004 : SEP, VOL. 37:3, p. 315-342 |
| Index terms: | auditors board of directors corporate governance financial statements |
| Language: | eng |
| Abstract: | This article shows that boards and audit committees are important elements affecting the reliability of financial reports. Creditor reliance on accounting-based debt covenants suggests that debtors are potentially concerned with board of director characteristics that influence the integrity of financial accounting reports. It is found that fully independent audit committees are associated with a significantly lower cost of debt financing. Yield spreads are also negatively related to audit committee size and meeting frequency. |
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