While most of accounting research concentrates mainly on Europe and developed countries, the South Asian region has not been substantially explored. The purpose of this paper is to examine the legal and institutional environment for corporate financial reporting practices in three South Asian...

We examine the investor reaction to misstatement news for Australian listed firms from 2006 to 2013. We find 4.1% of firm-years have a misstatement and 79% of misstatements are disclosed initially only in the periodic filings (stealth misstatements). We find no investor reaction for the average...