Abstract We study the effects of voluntarily contracting an external audit in a sample of small and medium-sized enterprises in the four largest Latin American countries: Argentina, Brazil, Colombia, and Mexico. The evidence shows that, for companies exempt from mandatory auditing, audited financial statements positively affect the access to bank financing, fixed assets investment, and the percentage of working capital financed with suppliers. The results contribute to an active policy debate on the role of the voluntary audit regime for small and medium enterprises.

中文翻译：

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拉丁美洲中小企业的自愿审计、投融资决策

摘要 我们在四个最大的拉丁美洲国家（阿根廷、巴西、哥伦比亚和墨西哥）的中小企业样本中研究了自愿外包外部审计的影响。证据表明，对于免于强制审计的公司，经审计的财务报表对获得银行融资、固定资产投资以及向供应商融资的营运资金比例产生积极影响。结果有助于就中小企业自愿审计制度的作用进行积极的政策辩论。