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The Public Company Accounting Oversight Board recently proposed amendments to the standard audit report that would require the disclosure of critical audit matters (CAMs), and the Securities and Exchange Commission continues to evaluate the use of principles-based (imprecise) accounting...
Persistent link: https://www.econbiz.de/10013005978
Persistent link: https://www.econbiz.de/10012976750
Standards are receiving increasing attention, especially at the transnational level where standardization aims at coherence and social ordering beyond the nation-state. However, many attempts to bring about uniformity via formalized standards fail. To understand better how such rules...
Persistent link: https://www.econbiz.de/10014040580
We explore the accounting view on KVA for derivatives, where KVA is defined as the lifetime cost of capital, i.e. the Capital Valuation Adjustment. Accounting uses ‘fair value' in most circumstances. IFRS 13 (Fair Value Measurement) defines fair value and it explicitly replaces previous...
Persistent link: https://www.econbiz.de/10013004530
We exploit IFRS mandatory adoption as a source of variation in the demand for conditional conservatism to examine the role of unaffiliated bankers on the level of conditional conservatism. We show that firms with unaffiliated bankers on boards of directors experience a significant increase in...
Persistent link: https://www.econbiz.de/10012952845
We provide evidence on the little researched internal sphere of private IASB standard setting, more specifically, on the dynamic of board discussions and the respective impact of exogenous input such as comment letters, the array of arguments evoked in IASB debates, individual board member...
Persistent link: https://www.econbiz.de/10012894359
We examine annual report text for over 15,000 non-US companies from 42 countries over the period 1998-2011, focusing on the length of disclosure, presence of boilerplate, comparability with US and non-US firms and complexity. We find that textual attributes are predictably associated with...
Persistent link: https://www.econbiz.de/10013034017
We examine whether the credit relevance of financial statements, defined as the ability of accounting numbers to explain credit ratings, is higher after firms are required to report under International Financial Reporting Standards (IFRS). We find an improvement in credit relevance for firms in...
Persistent link: https://www.econbiz.de/10013007157
We examine how China's adoption of a new set of Chinese Accounting Standards (CAS) that is substantially converged with the IFRS affects the managerial pay-for-accounting performance sensitivity of publicly listed Chinese firms. We find that central-government-controlled firms adopted an...
Persistent link: https://www.econbiz.de/10012993908