تأثیر اثربخشی کمیته حسابرسی بر مدیریت سود و نقش تعدیلگر کیفیت حسابرسی

عبداله تاکی; شهلا  طالاری; محمد امین  اجاقی; آرزو  علیپوری

Authors

Abdollah Taki Assistant Professor, Department of Accounting, Payame Noor University, Tehran, Iran, Corresponding author https://orcid.org/0000-0001-9907-7662
Shahla Talari Assistant Professor, Department of Accounting, Faculty of Management, Aghigh Institute of Higher Education, Shahinshahr, Iran. Author https://orcid.org/0000-0002-5222-0027
Mohammad Amin Ojaghi Assistant Professor, Department of Economic, Management and Accounting, Payam Noor University, Tehran, Iran. Author https://orcid.org/0000-0001-8683-5348
Arezoo Alipouri PHD student Department of Accounting, No.C, Islamic Azad University, Noor, Iran Author https://orcid.org/0009-0003-9745-4382

Keywords:

Audit Committee Effectiveness, Audit Quality, Accrued Earnings Management, Agency Theory, Corporate Governance, Tehran Stock Exchange

Abstract

This study aimed to examine the effect of audit committee effectiveness on accrual-based earnings management and to determine the moderating role of audit quality in this relationship among firms listed on the Tehran Stock Exchange. This applied, ex post facto study employed a panel-data research design. The statistical population consisted of firms listed on the Tehran Stock Exchange during 2016–2023. After applying the eligibility criteria and systematic elimination procedure, 140 firms comprising 1,120 firm-year observations were included in the final sample. Accrual-based earnings management, as the dependent variable, was measured through discretionary accruals estimated using the Modified Jones Model. Audit committee effectiveness was operationalized using a composite index incorporating committee size, member independence, financial expertise, and meeting frequency. Audit quality was specified as the moderating variable and measured using a dummy indicator representing audits conducted by large audit firms. Firm size, financial leverage, return on assets, market-to-book ratio, and firm growth were included as control variables. The hypotheses were tested using multivariate panel-data regression with fixed-effects specifications. The first regression model indicated that audit committee effectiveness had a significant negative effect on accrual-based earnings management (β=-0.042, t=-3.817, p<0.001), supporting the first hypothesis. Firm size also had a significant negative effect (β=-0.018, p=0.025), whereas financial leverage had a significant positive effect on earnings management (β=0.039, p=0.005). The effects of profitability, market-to-book ratio, and firm growth were not statistically significant. In the interaction model, the audit committee effectiveness × audit quality interaction term was negative and statistically significant (β=-0.031, t=-2.417, p=0.016), confirming the moderating role of audit quality. The coefficient of determination increased from 0.121 in the main-effects model to 0.138 after inclusion of the interaction term, and both overall regression models were statistically significant (p<0.001). Greater audit committee effectiveness constrains accrual-based earnings management, while higher audit quality strengthens this negative relationship. Accordingly, the complementary operation of internal and external monitoring mechanisms can more effectively restrict managerial opportunism and enhance the quality and reliability of corporate financial reporting.

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