disclosure satisfy and there is a lot of room for improvement for the next reporting period. Furthermore, the study provides a …

I argue that external financial reporting quality has at best a 2nd order effect on firm value of U.S. publicly traded … companies and that attempts to improve a firm's external reporting quality has a 3rd order effect on these firms' value …. Recognizing that external financial reporting quality is at best a 2nd order effect on firm value imposes an important external …

We examine the costs and benefits of proactive financial reporting enforcement by the UK Financial Reporting Review …, and in particular those Main companies with stronger incentives for higher financial reporting quality. Overall, our study … indicates that financial reporting enforcement generates costs and benefits, but not always for the same companies …

Are “full audits” cost-effective in improving financial reporting quality compared to “reviews,” which are based … examine four accounting-based financial reporting quality proxies and, to reflect broader economics, we examine cost of debt …. We find financial reporting quality for both reviews and audits is significantly better than for compilations, but is …

does not extend to internal control effectiveness. Given auditors' limited ability to distinguish financial reporting … tasked with reforming the audit reporting model, and legislators who recently passed Title I of the Jumpstart Our Business … Startups Act that exempts qualifying IPO companies from Section 404(b) reporting requirements for up to five years …

provides mixed evidence on whether better auditors mitigate misstatement risk embedded in the financial reporting process. A … challenge in previous studies is the lack of a powerful measure of inherent, “pre-audit” reporting risk. We overcome this issue … auditors' ability to mitigate reporting risk through increased audit fees and that AMR captures innate reporting risk rather …