El papel del análisis financiero en la identificación de las incertidumbres sobre empresa en marcha

The aim of this work is to empirically analyze the relationship of financial ratios and firm characteristics with the inclusion of an emphasis paragraph for uncertainty related to the going concern assumption in the auditor’s report. The firms that make public offers of their shares in the stock markets of Argentina are studied. Statistical analysis is carried out in two stages: bivariate analysis with non-parametric tests, and multivariate analysis using a probit regression. The results of the bivariate analysis show that the age of the firm, current ratio, and solvency ratios are significantly associated with the uncertainty of a going concern. In the multivariate analysis, the margin on sales and the age of the firm are relevant, with a negative effect on the likelihood of the firm having a report with an emphasis on uncertainty of a company in progress, while the debt ratio shows a positive effect.