Audit quality: does gender composition of audit firms matter?

Using a sample of Portuguese audit firms and their client companies, this study examines the association between gender composition of the partnership structure oaudit firms and audit quality. Audit quality is measured through the earnings quality of audit clients. We find that gender diversity in the partnership structure of audit firms, per se, has no association with audit quality. In turn, we find significant evidence that a predominant presence of female Certified Public Accountants (CPAs) in partner positions in audit firms is associated with higher audit quality. In particular, the results indicate that audit firms with female-dominated partnership structures are negatively related with aggressive accounting practices in audit clients.

Audit quality: a resource-based perspective

This study considers the Certified Public Accountants (CPA) partners of the audit firms as the core producers of these knowledge-based organisations and investigates the effects of audit firm-level of CPA partners’ experience in audit quality. Audit quality was measured through the audit clients’ earnings quality. The main findings suggested that the audit firm-level of CPA partners’ general experience is positively associated with audit quality. Also, the audit firm-level of CPA partners’ experience acquired with prior audit firms significantly improves audit quality. Concerning the effects of audit firm-level of CPA partners’ experience acquired in the current audit firm in audit quality, results were statistically insignificant. Finally, we found that changes in audit firm-level of CPA partners’ general experience also influence audit quality. We verified that the more positive the change in the audit firm stock of CPA partners’ general experience, the higher is audit quality. We interpret this finding as revealing that the year-to-year changes in audit firm’s stock of CPA partners’ general experience is the mechanism allowing these firms to achieve and maintain the critical mass of this resource and reach higher performance levels. We further showed that our main results were not driven by the engagement partner experience.

Measurements of Higgs boson production and couplings in the four-lepton channel in pp collisions at center-of-mass energies of 7 and 8 TeV with the ATLAS detector

The final ATLAS Run 1 measurements of Higgs boson production and couplings in the decay channel H→ZZ∗→ℓ+ℓ−ℓ′+ℓ′−, where ℓ,ℓ′=e or μ, are presented. These measurements were performed using pp collision data corresponding to integrated luminosities of 4.5 fb−1 and 20.3 fb−1 at center-of-mass energies of 7 TeV and 8 TeV, respectively, recorded with the ATLAS detector at the LHC. The H→ZZ∗→4ℓ signal is observed with a significance of 8.1 standard deviations at 125.36 GeV, the combined ATLAS measurement of the Higgs boson mass from the H→γγ and H→ZZ∗→4ℓ channels. The production rate relative to the Standard Model expectation, the signal strength, is measured in four different production categories in the H→ZZ∗→4ℓ channel. The measured signal strength, at this mass, and with all categories combined, is 1.44 +0.40−0.33. The signal strength for Higgs boson production in gluon fusion or in association with tt¯ or bb¯ pairs is found to be 1.7 +0.5−0.4, while the signal strength for vector-boson fusion combined with WH/ZH associated production is found to be 0.3 +1.6−0.9.

Search for s-channel single top-quark production in proton-proton collisions at s√=8 TeV with the ATLAS detector

This Letter presents a search at the LHC for s-channel single top-quark production in proton-proton collisions at a centre-of-mass energy of 8 TeV. The analyzed data set was recorded by the ATLAS detector and corresponds to an integrated luminosity of 20.3 fb−1. Selected events contain one charged lepton, large missing transverse momentum and exactly two b-tagged jets. A multivariate event classifier based on boosted decision trees is developed to discriminate s-channel single top-quark events from the main background contributions. The signal extraction is based on a binned maximum-likelihood fit of the output classifier distribution. The analysis leads to an upper limit on the s-channel single top-quark production cross-section of 14.6 pb at the 95% confidence level. The fit gives a cross-section of σs=5.0±4.3 pb, consistent with the Standard Model expectation.

Search for the Xb and other hidden-beauty states in the π+π-ϒ{hooked}(1S) channel at ATLAS

This Letter presents a search for a hidden-beauty counterpart of the X(3872) in the mass ranges 10.05--10.31 GeV and 10.40--11.00 GeV, in the channel Xb→π+π−Υ(1S)(→μ+μ−), using 16.2 fb−1 of s√=8 TeV pp collision data collected by the ATLAS detector at the LHC. No evidence for new narrow states is found, and upper limits are set on the product of the Xb cross section and branching fraction, relative to those of the Υ(2S), at the 95% confidence level using the CLS approach. These limits range from 0.8% to 4.0%, depending on mass. For masses above 10.1 GeV, the expected upper limits from this analysis are the most restrictive to date. Searches for production of the Υ(13DJ), Υ(10860), and Υ(11020) states also reveal no significant signals.

Measurement of the top-quark mass in the fully hadronic decay channel from ATLAS data at s√=7 TeV

The mass of the top quark is measured in a data set corresponding to 4.6 fb−1 of proton--proton collisions with centre-of-mass energy s√=7 TeV collected by the ATLAS detector at the LHC. Events consistent with hadronic decays of top--antitop quark pairs with at least six jets in the final state are selected. The substantial background from multijet production is modelled with data-driven methods that utilise the number of identified b-quark jets and the transverse momentum of the sixth leading jet, which have minimal correlation. The top-quark mass is obtained from template fits to the ratio of three-jet to dijet mass. The three-jet mass is calculated from the three jets of a top-quark decay. Using these three jets the dijet mass is obtained from the two jets of the W boson decay. The top-quark mass obtained from this fit is thus less sensitive to the uncertainty in the energy measurement of the jets. A binned likelihood fit yields a top-quark mass of mt = 175.1 ± 1.4 (stat.) ± 1.2 (syst.) GeV.

Determination of spin and parity of the Higgs boson in the WW∗→eνμν decay channel with the ATLAS detector

Studies of the spin and parity quantum numbers of the Higgs boson in the WW∗→eνμν final state are presented, based on proton--proton collision data collected by the ATLAS detector at the Large Hadron Collider, corresponding to an integrated luminosity of 20.3 fb−1 at a centre-of-mass energy of s√=8 TeV. The Standard Model spin-parity JCP=0++ hypothesis is compared with alternative hypotheses for both spin and CP. The case where the observed resonance is a mixture of the Standard-Model-like Higgs boson and CP-even (JCP=0++) or CP-odd (JCP=0+−) Higgs boson in scenarios beyond the Standard Model is also studied. The data are found to be consistent with the Standard Model prediction and limits are placed on alternative spin and CP hypotheses, including CP mixing in different scenarios.