The most important effect of the international harmonization of goodwill regulations was the substitution of amortization by an impairment test to enable comparison of financial statements from different countries. However, regulating bodies like the FASB, the IASB or the European Parliament...

In recent years, regulators have exempted an increasing number of companies from the requirement to appoint auditors, yet little is known about the role of the accounting profession in preparing and validating the financial statements of unaudited companies. In this paper, we examine empirically...

Competitors often pay close attention to rivals' financial reports. For firms with high levels of proprietary information, competition may increase the costs of public disclosure. Theory suggests that such costs, which we refer to as the proprietary costs of financial reporting, may lead to...

We explore whether NHS hospitals managed their earnings upward before applying for Foundation Trust (FT) status, a scheme that allowed them greater financial freedom and management autonomy, in order to present an overly positive picture and increase their chances for a successful application....

This paper explains the increasing popularity of social entrepreneurship and analyzes its company law consequences. Faced with tight budgets, governments are looking to the private sector to develop businesses that serve the interests of the public. Social entrepreneurship is gaining momentum as...

This paper reviews the relationship between Labour's economic policy and the third sector. Since 1997, the third sector has received significant government support and has gradually moved from the economic periphery towards the centre such that it is now instrumental in the delivery of a range...