This study examines the impact of country level corruption on audit fees. Using a sample of 102,934 firm year observations on companies from 48 countries over the period 1998-2014, we find that audit fees are positively associated with higher levels of corruption. We also find that corruption...

This paper surveys key developments in accounting regulation theory over the twentieth century. The position is advanced that this project remains a work-in-progress that deserves the status of a key objective of accounting theoretical research. The nature of theoretical coherence is addressed,...

This paper proposes a basis for progress in the development of the conceptual framework (CF) as a foundation for developing accounting standards. This topic has gained increased prominence following the IASB's (2013) release of its Review of the Conceptual Framework for Financial Reporting...

This paper describes the background to and implementation of the decision to adopt IFRS in New Zealand with particular focus on the issue of sector neutrality in financial reporting standards. New Zealand's financial reporting standards were originally developed for application only by profit...

We examine the role of shareholder takeup in rights offerings on the subscription period price reaction and liquidity. Our results indicate that takeup information is reflected in price adjustments over the subscription period and that quality-related information disclosed on the rights...

Business strategy’s impact on firm cash holdings and dividend payouts has largely remained unexplored. We identify a fundamental and direct link between a firm’s business strategy and its cash holdings and dividend payouts. Analysing two large samples of data on U.S. firms over the period...