Adekunle 1, asaolu, taiwo2 1lecturer, department of accounting, banking and finance, olabisi onabanjo university, agoiwoye, nigeria 2professor, department of management and accounting obafemi awolowo university, ileife, nigeria. Accountants perceptions of financial reporting quality in vietnam and their ethical sensitivity to earnings management a thesis submitted in fulfillment of the requirements for the degree of doctor of philosophy in accounting lan anh thi nguyen mbs, acca, cpa school of accounting college of business rmit university september 2016. To determine the uses of a computerized accounting information system. On the other hand, several studies have argued that. The argument is based on the notion that using a common accounting standard is expected to improve the quality of financial reporting. Some of these studies show that financial reporting quality influences the cost.
Evidence from nigerian listed conpanies a thesis submitted to the othman yeop abdullah graduate school of business in partial fulfilment of the requirement for the degree of master of science international accounting. The effect of financial reporting quality on investment efficienc. In light of the growing importance of internal audit functions iaf and the limited archival evidence on internal audit quality, we examine an interactive model of iaf quality comprised of competence and independence to better understand the determinants of iaf effectiveness as a financial reporting monitor. Corporate governance and financial reporting quality in.
Timely loss recognition increases in the importance of debt. The study aims to investigate the potential determinants that may influence the quality of financial reporting of 88 annual reports of a sample of 22 lebanese banks for the period 20122015. Entities other than companies, may also find these considerations useful in preparing their annual report andor financial statements. An empirical investigation of the financial reporting practices and banks stability in nigeria adeyemi a. Adoption of international financial reporting standards in. Ethical performance, financial performance, and the quality of financial reporting i. Corporate governance and financial reporting quality in selected nigerian company onuorah, anastasia chichi phd, imene oghenefegha friday department of accounting, banking and finance, delta state university, asaba, delta state nigeria correspondent authors email. Introduction the quality of financial reporting is investigated as a measure of reducing information asymmetry in most of the experimental studies. Ethical performance, financial performance and the quality of. Essays on internal control and external auditing in the. Effects of information technology on financial services systems. This paper examines ipsas adoption and quality of financial reporting in the nigerian public sector.
While the quality of financial reporting may be judged from a number of perspectives e. It also allows the board to structure compensation packages appropriately and. From school teachers and tutors to home schoolers and parents, engaged adults are the key to in any form or device to be used at home, at school, and everywhere inbetween. This thesis examines the impact of audit committee characteristics on financial reporting quality in the context of a large sample of uk companies over the period 20072010. Therefore, it is expected that highquality financial reporting reduce excessive and wasting investments biddle et al. Uk evidence by jihad mounib al okaily a thesis submitted for the degree of doctor of philosophy accounting and auditing research group durham university business school university of durham england june 2014. The data used in the study are from public sources identified in the text. Hailemichael, 2016 studies adoption, challenges and perception of international financial reporting standards ifrs on the quality of financial reporting of financial institution in addis ababa, ethiopia and finds that there is a strong positive relationship between ifrs adoption and quality of financial reporting of financial institutions. To find the pros and cons of computerized accounting to financial institutions. Standard board aasb, financial reporting quality represents financial statements that provide accurate and fair. It allows the board and investors to make an informed evaluation of strategy, business model, and risk. Understanding timeliness and quality of financial reporting in a finnish public company. Financial reporting quality, auditor remuneration and.
Introduction the increasing globalization of economic activities has weakened the ability of stakeholders to monitor the ethical performance of corporations. Audit committees and financial reporting quality white rose. This thesis covers the role of accounting in the contractual context and the e ects of monitoring mechanisms in. The goals of the ifrs foundation and the iasb is to develop, in the public interest, a single set of high quality, understandable, enforceable and globally accepted financial reporting. Durham etheses financial reporting quality, auditor. The purpose of this study is to explore the impact of xbrl on the quality of financial reports and the accounting profession. The notion of financial reporting quality is assessed by looking at the audit quality and earnings quality of the firms. Corporate governance and financial reporting quality. Congress, office of technology assessment, otacit202, september 1984. Teaching is one of the most teaching moment and many can be used to support national education standards. Recent research proposes that financial reporting is actually shaped by debt markets instead of by equity markets. Financial reporting with xbrl and its impact on the. Akinyemi olumide akindele the impacts of international. Understanding timeliness and quality of financial reporting.
This infers that transparency contributes most to quality of financial reports of ngos followed by leadership then computerized accounting systems. Pdf ipsas adoption and quality of financial reporting in. Library of congress catalog card number 84601102 for sale by the superintendent of documents u. First, there was some evidence that earnings quality measured using the modified jones 1991 model significantly reduced in the year following audit committee formation, thus providing some support for the notion that the formation of audit committees improves financial reporting quality. Therefore, it is expected that highquality financial reporting reduce excessive. Financial reporting standards ifrs will enhance the quality of financial reporting 1,2. Financial reporting quality, cost of equity capital, proprietary costs, risk factors, endogeneity. The results of the thesis can be used by the companies concerned to improve their internal control systems over financial reporting. The challenges and prospects of ifrs adoption in ethiopian. There is no such thing as one size fits all in education. This study is an empirical investigation of corporate governance and.
Effects of information technology on financial services systems washington, d. International financial reporting standards ifrs was established and approved by the international accounting standards board iasb. Internal audit quality and financial reporting quality. The effect of computerized accounting systems on the quality. To establish the qualities of financial reports generated by computerized accounting. In financial reporting, a conceptual framework as shown in fig 1 is a theory of accounting prepared by a standardsetting body against which practical problems can be tested objectively, in other words, a theoretical base, a statement of principles, a philosophy and a map, association of. Adoption of international financial reporting standards in greece. Financial reporting quality, auditor remuneration and corporate governance. Financial reporting is perceived no longer as a low priority book keeping exercise, but a central function for directing a company under good corporate governance principles. Financial reporting accurate financial reporting is critical for the efficiency of capital markets and the proper valuation of securities. The goals of the ifrs foundation and the iasb is to develop, in the public interest, a single set of highquality, understandable, enforceable. The case of tunisian firm, international business research 4, 1, pp. Accountants perceptions of financial reporting quality in. The truthfulness and reliability of companies financial reporting is essential for the decisionmaking of stakeholders and hence for economic functionality.
Introduction i investigate the determinants and economic consequences of crosssectional variation. Main determinants of financial reporting quality in the. 3 financial reporting and corporate governance research 19. A study of 62 publicly listed companies from finland, sweden and denmark. Financial reporting quality, investment efficiency, financing, tehran stock exchange. Financial reporting quality and corporate bond markets. Effects of information technology on financial services.
As noted by baker, greenwood and wurgler 2003, relative to the literature on equity financing patterns, and relative to the actual importance of debt finance in the u. Audit committees and financial reporting quality usq eprints. Achieving quality financial reporting guide for directors. Furthermore, it can increase investors ability to control the investment decisions. Quality of accounting information and financial performance.
The recent global financial crisis has added fuel to the heated debate on whether boards of directors in general and audit committees in particular are effective in curtailing aggressive financial reporting practices and maintaining a transparent audit process. The first two essays of the dissertation focus on in. Main determinants of financial reporting quality in the lebanese banking sector 1 rasha mahboub abstract. The aim of this thesis is to provide insights into what the concept of audit quality means for a number of parties who have responsibilities for delivering, commissioning or evaluating audit quality in practice auditors, ac members and. The quality characteristics are the attributes that make the information provided in financial statements useful to others goitom, 2003. A critical approach the thesis is submitted in partial fulfilment of the requirements for the award of the degree of doctor of philosophy in accounting and financial management of the university of portsmouth by elisavet mantzari first supervisor.
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