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 …

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 …

improved audit and reporting quality in client firms …

position and to analyze the components of temporary book-tax differences that add to the reporting gap in Germany. To this end … different reporting incen-tives might apply if reporting on losses is assessed in isolation. We use these insights to derive …

stakeholders are associated with improvements in the restating firm's financial reporting credibility …