Are “full audits” cost-effective in improving financial reporting quality compared to “reviews,” which are based primarily on analytical procedures and inquiries? The answer is important because independent verification cost-effectiveness is being challenged globally and recent advances...

In this paper, we investigate whether the use of accounting conservatism in India decreases IPO underpricing, which is of attention to stakeholders and supervisors. Furthermore, the study examines how asymmetry information affects the implication of accounting conservatism for IPOs. Based on a...

We examine the costs and benefits of proactive financial reporting enforcement by the UK Financial Reporting Review Panel. Enforcement scrutiny is selective and varies by sector and over time, yet can be anticipated by auditors and companies. We find evidence that increased enforcement intensity...

This paper studies the impact of public audit oversight on financial reporting credibility. We analyze changes in market responses to earnings news after public audit oversight is introduced, exploiting that the regime onset depends on fiscal year-ends, auditors, and the rollout of auditor...

Today, financial reporting is not only limited to producing financial information. Besides financial information, non-financial information is also provided to the information seekers. The system of communicating both financial and non-financial information in a single report is known as the...

Accounting is a media which communicates the business and financial information of each and every organisation so as to cater to the needs of various interested parties. Business involves undertaking a series of activities, which may be financial or nonfinancial, to achieve its prime goal....

While the auditing profession in the USA and UK has developed ‘from the bottom up' over more than a century and a half, the Chinese profession has effectively been created ‘from the top down' in just over 20 years. Based mainly on information obtained from interviews we have conducted in...

The paper has given an overview of the origin and objectives of the Financial Reporting Act 2015 (FRA) with an unofficial English version thereof. Then it highlights on the cost audit under the FRA, which is included in the statutory definition of “audit service” to be conducted by...

Business reporting in India is becoming more transparent and dynamic as it is impacted by regulatory changes and varying information needs of stakeholders. In recent days, Indian companies are increasingly investing their financial and intellectual capital in undertaking, managing, and reporting...

Donald T. Nicolaisen (1944-2019) was an internationalist, a progressive thinker, and a leader of the U.S. accounting profession. This memorial article traces Nicolaisen's early education and career in the Milwaukee office of Price Waterhouse & Co. in the 1960s, his rise to partner and eventual...