Aasmund Eilifsen

Aasmund Eilifsen
NHH Norwegian School of Economics | NHH · Department of Accounting, Auditing and Law

PhD

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33
Publications
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1,275
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Introduction
Skills and Expertise

Publications

Publications (33)
Article
In this study, we examine auditors' reliance on artificial intelligence (AI) systems that are designed to provide evidence around complex estimates. In an experiment with highly experienced auditors, we find that auditors are more hesitant to rely on evidence from AI‐based systems compared to human specialists, consistent with algorithm aversion. I...
Article
This study examines the interaction of audit firm characteristics with two core earnings management tools: classification shifting (CS) and core accruals management (CACM). CS occurs when management intentionally misclassifies recurring operational expenses as special items to inflate perceptions of core earnings. A Norwegian sample of companies, w...
Article
In recent years, standard setters worldwide have considered how to enhance financial statement users’ understanding of the estimation uncertainty contained in many financial statement items. Our study examines two disclosures expected to help investors evaluate the reliability of subjective fair value estimates: a quantitative sensitivity analysis...
Article
Recent reviews of the academic literature indicate that little is known regarding how users evaluate the materiality levels auditors use or respond to quantitative materiality disclosure. Regulators around the world have taken different stances on whether materiality should, or should not, be disclosed in the auditor’s report. In response to the de...
Article
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SYNOPSIS This study explores the use of audit data analytics (ADA) in current audit practice. First, we interviewed the heads of professional practice of five international public accounting firms in Norway. We find that they differ in strategies on how to implement ADA and the heads report significant uncertainty about the supervisory inspection a...
Article
This paper investigates the potential of using a frequency response mode to reduce the dilution effect of non-diagnostic evidence on auditors' fraud risk judgments. In two experiments, we test one hypothesis and examine a research question related to the dilution effect where response mode (frequency versus probability) and type of non-diagnostic o...
Article
As a result of mistrust in the auditing profession, legislators and regulators continue to impose restrictions to the joint provision of audit and nonaudit services (NAS) to protect investors' interests. However, investors may perceive NAS differently than legislators, and it is an open question whether a ban on NAS always aligns with investors' in...
Article
We investigate how audit firm size and large auditor-provided non-audit services (NAS) affect accruals quality around large equity issues and acquisitions for Norwegian public companies from 1999 to 2013. We find poorer accruals quality around large equity increases. Big 4 audit firms mitigate adverse accruals quality but only if the provision of N...
Article
Full-text available
This paper examines the materiality guidance for eight of the largest U.S. public accounting firms. Knowledge of how materiality guidance is integrated into a firm's methodology is important for accounting and auditing researchers as well as for practitioners, regulators, and educators. Our results show a high level of consistency across the firms...
Chapter
There are differences among countries in the extent financial accounting income forms the basis for computation of taxable income – from applying a fairly integrated system to applying dual systems. The interplay between the systems will affect the scope and extent of tax considerations in the financial reporting. Tax considerations continue to inf...
Article
In 2003, the Financial Supervisory Authority of Norway (FSA) disclosed that audit firms had violated the legal restrictions for providing nonaudit services (NAS). In response, the FSA tightened the NAS regulations. This study examines how regulatory oversight affects the relation between the provision of NAS and earnings response coefficients (ERC)...
Article
One hundred and fifty auditors participated in a study that examines whether auditors’ probabilistic judgments are closer to a Bayesian benchmark when auditors make judgments using a frequency response mode versus a probability response mode. We test a series of hypotheses that examine the effect of using a frequency response mode by professional a...
Article
This study reports on desirable attributes of assurance services providers for assurance services based on responses from a sample of Dutch senior accounting and financial officers. In general, overall expertise and objectivity are perceived as the most important attributes for selecting an assurance service provider. Cost is perceived as the least...
Article
Bankruptcy is a highly significant worldwide problem with high social costs. Traditional bankruptcy risk models have been criticized for falling short with respect to bankruptcy theory building due to either modeling assumptions or model complexity.Genetic programming minimizes the amount of a priori structure that is associated with traditional fu...
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There has been a renewed interest in the concept of materiality motivated by concerns at the Securities and Exchange Commission, the Sarbanes-Oxley Act, and the Auditing Standards Board and International Auditing and Assurance Standards Board issuance of proposed standards on materiality. This paper: (1) reviews and integrates the empirical researc...
Article
This paper presents information on the causes and detection of misstatements by auditors and the relationship of those misstatements with information technology (IT). The last major study of misstatements and IT used data that was gathered in 1988. In the intervening period, there have been significant changes in IT, possibly altering the error gen...
Article
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Enforcement der Wirtschaftspr�fer - Vergleichende Analyse der Disziplinaraufsicht und der Qualit�tskontrolle im deutschen und norwegischen Wirtschaftspr�fungswesen -
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Several initiatives and auditors’ professional organizations have argued that assurance about the quality of information, processes, or compliance encompasses the future market base for the accounting profession. However, the market for assurance services is in its formative stage and not well understood. Based on data from Dutch Executive Board me...
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After confronting unprecedented challenges in the last decade, accounting firms have undertaken extensive effort to improve the basic financial statement audit and to expand external assurance beyond the traditional audit. The re-examination of audit methods has produced a new emphasis on assessing business and process risks in the conduct of an au...
Article
This article is concerned with the dissemination process of firm-specific annual earnings information in the Norwegian capital market. We find a significant reduction in stock price volatility in the post-announcement period relative to the pre-announcement period for companies traded on the Oslo Stock Exchange in the period 1990–1995. Potential ex...
Article
We show that if taxable income were linked to accounting income, there will exist an automatic safeguard against manipulation of earnings within the analysed framework. Separating taxable income from accounting income will remove this self-controlled mechanism, and accordingly create a need for separate countermeasures to prevent earnings manipulat...
Article
Full-text available
The first part of the paper gives an overview of the historic development and current auditing regulation in Norway. Although auditing is regulated by legislation, the government has relied on the profession's self-regulation, especially in matters related to the conduct of an audit. In most cases, the Norwegian regulation arrangements and the stat...
Article
The financial accounting regulations in Norway have not been motivated by corporate income taxation. Nevertheless, historically there has been a close relationship between financial accounting and income taxation. As a general taxation rule, the reported financial income has been the basis for the computation of the taxable income. This has made fi...

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