engleski

FINDING DETERMINANTS OF AUDIT DELAY IN CROATIA BY POOLED OLS REGRESSION ANALYSIS

The aim of this paper is to investigate determinants of audit delay. Audit delay is measured as the length of time (i.e. the number of calendar days) from fiscal year-end to the audit report date. Understanding factors that influence audit delay is important since it directly affects the timeliness of financial reporting. The research is conducted on a sample of Croatian listed companies, covering the period of four years (from 2008 to 2011). We use pooled OLS regression analysis, modelling audit delay as a function of following explanatory variables: audit firm type, audit opinion, profitability, leverage, inventory and receivables to total assets, absolute value of total accruals, company size and audit committee existence. Our results indicate that audit committee existence, profitability and leverage are statistically significant determinants of audit delay in Croatia.

Audit delay; Timeliness of corporate reporting; Listed companies

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