Transações com partes relacionadas: evidências de comparabilidade e honorários de auditoria em empresas abertas do mercado brasileiro
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2022-02-24
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Universidade Federal de Goiás
Resumo
This research has aims to identify the influence of related party transactions (RPTs) on the
comparability of financial statements and audit fees of publicly traded companies in the
Brazilian market. Two opposing argument have been consolidate in the literature in relation to
RPTs: the first one maintains that related transactions can be used by a group of companies
with the aim of reducing costs, sharing resources and even obtaining gain; the second
argument, supported by the agency theory emphasizes that these transactions can be used
opportunistically to expropriate resources from entites based on the assumption that RPTs can
have effect on the quality of accounting information. To this end, the premise was adopted
that RPTs can reduce the comparability of financial reports and subsequently increase
auditors fees, as comparability helps to improve audit efficiency and accuracy. The
cauculation of the comparability measure was performed using the method of similarity of the
accounting function by DeFranco et al. (2021), audit fees were collected from the reference
form and measured using the natural logarithm, in agreement with the research by Habib et al.
(2015) and Al-Dhamari et al. (2018). Regarding transactions with related parties, asset weighted
RPTs were adopted (Hasnan et al., 2016; Shin et al., 2019; Jalan et al., 2020) to
investigate the relationship with comparability. On the other hand, we chose to use RPTs in
their logarithm form (Habib et al., 2015; Pratama, 2018; Ali et al., 2021) to verify the
relationship with audit fees. Regard to data analysis, to establish the relationship between
RPTs and comparability, the multivariate analysis of quantile regression was adopted, using
quantiles 0.25,0, 0.50 and 0.75, in which the lowest, medium and highest levels of
comparability are analyzed; in terms of RPTs and audit fees, they were estimated using panel
data. The results found suggest that purchase and total RPTs negatively impact the quality of
information, as they reduce the comparability of companies that have medium and maximum
levels of comparability; moreover, the related sales, purchases and totals transactions are
complex and increase the risk of material misstatement, resulting in higher fees. This research
contributes to the expansion of the literature, by adding evidence of the relationship between
RPTs and the quality of accounting information in the Brazilian context. In addition to
bringing complications for investors, analysts and auditors, by indicating that comparability is
reduced for companies have average and maximum comparability, harming the decision making
process and that sales, purchases and totals RPTs are a risk to the audit process, so
they need to be analyzed more accurately. Finally, the findings also provide a warning to
standard setters regarding the protection of minority shareholders, as related transactions can
be used to obscure accounting information.
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Citação
LIMA, A. C. S. Transações com partes relacionadas: evidências de comparabilidade e honorários de auditoria em empresas abertas do mercado brasileiro. 2022. 74 f. Dissertação (Mestrado em Ciências Contábeis) - Universidade Federal de Goiás, Goiânia, 2022.