Relevância informacional do audit delay e da opinião do auditor: um estudo no Brasil

Abstract

In addition to examining whether audit delay and the type of opinion issued are associated with the informational relevance of financial statements in the Brazilian capital market, this research analyzes whether longer delays in issuing the independent audit report are associated with the informational relevance of modified auditor opinions. The argument is that delays in issuing the opinion compromise its timeliness and, consequently, diminish its informational content for investors. Based on a sample of 279 companies and 2,671 observations between 2010 and 2024, regression models were estimated to test the study's hypotheses. The results indicated that both the modified opinion and the delay in issuing the audit report are negatively relevant to investors. Regarding the effect of delay on the relevance of the opinion, the results indicated that audit delay is associated with the informational relevance of the modified opinion, mitigating its negative effect on the market. Therefore, the study's central hypothesis cannot be rejected. The research contributes to the literature by expanding the theoretical understanding of the conditions under which delays in issuing the audit report influence the timeliness and usefulness of accounting information for the market.