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AMERICAN JOURNAL OF MANAGEMENT
A Risk Assessment of Intangible Asset Valuation: The Post-Hoc Association between Goodwill Impairments and Risk Hazards in Mergers and Acquisitions
Author(s): Peter L. Lohrey, James A. DiGabriele, Joseph Nicholson
Citation: Peter L. Lohrey, James A. DiGabriele, Joseph Nicholson, (2017)"A Risk Assessment of Intangible Asset Valuation: The Post-Hoc Association between Goodwill Impairments and Risk Hazards in Mergers and Acquisitions," American Journal of Management, Vol. 17, Iss. 1, pp. 34-46
Article Type: Research paper
Publisher: North American Business Press
Abstract:
We tested whether the change from SFAS 141 to SFAS 141r/ASC 805 had any effect on restatements due to goodwill impairment. Our findings suggest that the implementation of SFAS 141r increased the likelihood of a financial restatement by 2.5 times. Board of Director and Audit Committee involvement in the goodwill impairment decision reduced the likelihood of a restatement occurring. Service industry companies were 3.2 times more likely to restate their assets due to goodwill impairment. Companies who were audited by a Big4 firm reduced the odds of restatement by 47%.
