We investigate how disclosure of key audit matters (KAMs) and related management footnote disclosures on a subjective accounting estimate relating to fair value in the financial statement footnotes affect auditors' perceptions of their accountability and their subsequent adjustment decisions. In relation to accountability, a substitution effect is found between KAMs disclosures and footnotes. That is, auditors believe that they are less accountable either when they can report on the fair value estimates in KAMs disclosures, or when management has provided expanded fair value related footnotes. However, we find that when the fair value disclosure is considered by KAMs and expanded footnotes it results in the auditor recommending a more conservative fair value adjustment decision. Overall, our results show that the requirement to disclose KAMs does make a real difference and interacts with management's disclosures to affect auditors' perceptions of accountability and their adjustment decisions.

中文翻译：

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关键审计事项和管理层披露对审计师判断和决策的影响：探索性研究

我们调查关键审计事项（KAM）的披露以及财务报表脚注中与公允价值相关的主观会计估计的相关管理层脚注披露如何影响审计师对其责任的看法以及随后的调整决策。就问责制而言，KAM 披露和脚注之间存在替代效应。也就是说，审计师认为，当他们可以在 KAM 披露中报告公允价值估计时，或者当管理层提供扩展的公允价值相关脚注时，他们的责任就会减少。然而，我们发现，当 KAM 考虑公允价值披露并扩展脚注时，审计师会建议采取更保守的公允价值调整决定。总体而言，我们的结果表明，披露关键审计事项的要求确实会产生真正的影响，并与管理层的披露相互作用，影响审计师对责任的看法及其调整决策。