The disclosure of non-GAAP (pro forma) earnings numbers by managers in the post-SOX era continues to attract attention from regulators, media, and researchers. However, there is limited empirical evidence on how auditors view clients that emphasize pro forma earnings over GAAP earnings. We study...

A key objective of the Sarbanes-Oxley Act (SOA) was the restoration of public confidence in the integrity of audited financial statements. One section of SOA (Section 302) requires the chief executive officer(s) and the principal financial officer(s) to certify in each quarterly or annual report...

We examine whether the information content of the earnings report, as captured by the earnings response coefficient (ERC), increases when investors' uncertainty about the manager's reporting objectives decreases, as predicted in Fischer and Verrecchia (2000). We use the 2006 mandatory...

We examine the association between board independence and the characteristics of non-GAAP earnings. Our results suggest that companies with less independent boards are more likely to opportunistically exclude recurring items from non-GAAP earnings. Specifically, we find that exclusions from...

This study examines whether a regulation on mandatory disclosure of earnings forecasts encourages managers to issue more optimistic earnings forecasts, and whether the optimistic forecasts are revised downward or the reported earnings are managed upward using discretionary accruals to reduce the...

We examine the relationship between analyst research and corporate earnings announcements to explore the relative importance of information discovery versus interpretation of previously released information. Using equity market reaction to capture information content, we find that information...

Lobo and Zhou (2006) find an increase in accounting conservatism following the Sarbanes–Oxley Act of 2002. In Japan, the Financial Instruments and Exchange Act of 2006, the so-called Japanese Sarbanes–Oxley Act (J-SOX), was implemented for fiscal years ending on or after March 31, 2009....

In this article, we synthesize, in annotated bibliography form, recent regulation-related findings and commentaries in the academic literature. This annotated bibliography is the third in a series of bibliographies that will summarize regulation-related academic research for at least the period...

In this article, we synthesize in annotated bibliography form, recent regulation-related findings and commentaries published in the academic literature. This annotated bibliography is the first in a planned series of bibliographies that will summarize regulation-related academic research for at...

In this paper, we synthesize in annotated bibliography form, recent regulation-related findings and commentaries in the academic literature. This annotated bibliography is the second in a planned series of bibliographies that will summarize regulation-related academic research for at least the...