A study investigated the relationship between audit delay (Delay), the length of time from a company's fiscal year-end to the date of the auditor's report, and variables that describe the client and the auditor. The independent variables are as follows.
Industry- A dummy variable coded 1 if the firm was an industrial company or 0 if the firm was a bank, savings and loan, or insurance company.
Public-A dummy variable coded 1 if the company was traded on an organized exchange or over the counter; otherwise coded 0.
Quality-A measure of overall quality of internal controls, as judged by the auditor, on a five-point scale ranging from "virtually none" (1) to "excellent" (5).
Finished -A measure ranging from 1 to 4, as judged by the auditor, where 1 indicates "all work performed subsequent to year-end" and 4 indicates "most work performed prior to year-end.
" A sample of 40 companies provided the following data.
Delay | Industry | Public | Quality | Finished |
62 | 0 | 0 | 3 | 1 |
45 | 0 | 1 | 3 | 3 |
54 | 0 | 0 | 2 | 2 |
71 | 0 | 1 | 1 | 2 |
91 | 0 | 0 | 1 | 1 |
62 | 0 | 0 | 4 | 4 |
61 | 0 | 0 | 3 | 2 |
69 | 0 | 1 | 5 | 2 |
80 | 0 | 0 | 1 | 1 |
52 | 0 | 0 | 5 | 3 |
47 | 0 | 0 | 3 | 2 |
65 | 0 | 1 | 2 | 3 |
60 | 0 | 0 | 1 | 3 |
81 | 1 | 0 | 1 | 2 |
73 | 1 | 0 | 2 | 2 |
89 | 1 | 0 | 2 | 1 |
71 | 1 | 0 | 5 | 4 |
76 | 1 | 0 | 2 | 2 |
68 | 1 | 0 | 1 | 2 |
68 | 1 | 0 | 5 | 2 |
86 | 1 | 0 | 2 | 2 |
76 | 1 | 1 | 3 | 1 |
67 | 1 | 0 | 2 | 3 |
57 | 1 | 0 | 4 | 2 |
55 | 1 | 1 | 3 | 2 |
54 | 1 | 0 | 5 | 2 |
69 | 1 | 0 | 3 | 3 |
82 | 1 | 0 | 5 | 1 |
94 | 1 | 0 | 1 | 1 |
74 | 1 | 1 | 5 | 2 |
75 | 1 | 1 | 4 | 3 |
69 | 1 | 0 | 2 | 2 |
71 | 1 | 0 | 4 | 4 |
79 | 1 | 0 | 5 | 2 |
80 | 1 | 0 | 1 | 4 |
91 | 1 | 0 | 4 | 1 |
92 | 1 | 0 | 1 | 4 |
46 | 1 | 1 | 4 | 3 |
72 | 1 | 0 | 5 | 2 |
85 | 1 | 0 | 5 | 1 |
Enter negative values as negative, if necessary.
Using Minitab
Stat -> regression Model
Regression Equation
Delay = 70.63 + 12.74 Industry - 2.92 Quality
b)
Durbin-Watson Statistic = 1.42611
for k = 2
n = 40
dL = 1.391
dU = 1.600
A study investigated the relationship between audit delay (Delay), the length of time from a company's...
A study investigated the relationship between audit delay (the length of time from a company's fiscal year-end to the date of the auditor's report) and variables that describe the client and the auditor. Some of the independent variables that were included in this study follow: Industry A dummy variable coded 1 if the firm was an industrial company or if the firm was a bank, savings and loan, or insurance company. Public A dummy variable coded 1 If the company was traded...
A study investigated the relationship between audit delay (the length of time from a company's fiscal year-end to the date of the auditor's report) and variables that describe the client and the auditor. Some of the independent variables that were included in this study follow: Industry A dummy variable coded l if the film was an industrial company or if the firm was a bank, savings and loan, or insurance company. Public A dummy variable coded 1 if the company was traded...
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