There is the possibility that the information on which basis the informational risk hasbeen identified and evaluated, not to be correct and impicitly the financial statements not to be inconformity with the represented reality, affecting in this way the objective of the ‘trustworthyimage‘....

Control risk (CR) refers to the likelihood that material misstatement of the financial statements can not be prevented or detected and corrected by the entity's internal control. This risk is assessed by the auditor after obtaining an understanding of the entity's control environment risk...

This paper examines the determinants of municipal cash holdings and the implications of holding high levels of cash. The first part of the analysis investigates municipal manager incentives to accumulate cash as part of normal operations. Results indicate that municipalities with a higher...

As U.S. accounting standard setters increasingly favor a fair value based regime, critics claim that the abandonment of a historical cost based system may produce unintended consequences, such as increased bias and manipulation in financial reports. In this paper, we present exploratory evidence...

This paper provides a framework for evaluating the strengths and weaknesses of public assets owned by: (i) The State, (ii) A State owned corporatized body, (iii) Private investors or (iv) By a network of constituents. A basis is presented for analysing these four governance architectures based...

This study examines the determinants of municipal cash holdings and the implications of holding high levels of cash. The first part of the analysis investigates municipal manager incentives to accumulate cash as part of normal operations. Results indicate that municipalities with a higher...

Abstract: Various users rely on nonprofit financial information for investing, contracting, and regulating decisions. The ratio of reported charitable to total expenses is one of the most widely used metrics to measure nonprofit performance. Prior research shows that many nonprofit organizations...

In Romania, the requirements on corporate governance are relatively recent compared to other member-states of the European Union, as they have been introduced in the national legislation since 2006. The objective of the present study is to assess the implementation, at this initial level, of the...

This paper examines the research body of corporate governance which is one of the hot issues in the financial arena nowadays. Discussing salient and current theoretical and empirical works in the stream, paper devotes a special emphasis to financial services industries. Paper implies that there...