The Impact Of Integrated Audit On Audit Delay

The Sarbanes-Oxley Act (2002) requires reporting firms to disclose internal control audit report. Standard No.5 (AS5) introduced by the Public Company Accounting Oversight Board (PCAOB) marked a transition from Internal control Audit to Integrated audit. In China, the Ministry of Finance issued "Guidelines for Enterprise Internal Control" in 2010, from when the capital market began Internal Control Audit construction. In our country, internal control audit implementation naturally adopt integrated audit. Integrated audit can reduce audit costs, improve audit quality and improve audit efficiency, so this paper Integrated audit to reduce audit costs, improve audit quality and improve audit efficiency, this paper expect integrated audit can shorten audit delay. From the perspective of integrated audit, this paper researches whether the audit efficiency improvements will reduce the audit delay.This paper uses 1854 sample data of Chinese listed companies from 2010 to 2014 to test the impact of integrated audit on audit delay by multiple linear regression models Then the sample is divided into two groups of forced internal control audit group and voluntary internal control audit groups to test the difference of the impact of integrated audit on audit delay. In addition, this paper studies whether the audit delay of companies which integrated audit implemented by "Big 4" or not "BIG 4" have differences.Conclusions are as follows:(1) Integrated audit is negative correlation with audit delay.(2)The integrated audit has more impact on voluntary internal control audit companies than the forced ones.(3) Compared with companies audited not by "Big 4",the companies audited by "Big 4" which audit delays are effected stronger by integrated auditThe purpose of this study is to extend our understanding about the impact of integrated audit in audit efficiency and audit delay. Our study supports that in China, internal control audit can improve the audit efficiency. This paper inspires regulators attach importance to the promotion of the integration, also enriches the integrated audit and audit delay literature.