In this paper, we address the question of whether the board of directors is more effective in constraining earnings management after the mandatory application of IFRS. Specifically, we explore how two board characteristics — board independence and (2) the existence of an audit committee impact...

The focus of this study iswhether reforms ofgovernance guidelines and standards proposed for publicly held corporations areappropriate for closely held, family-owned businesses. Two models of governanceare contrasted: the market model of corporate governance is common (especiallyin the U.S.,...