Financial reports and the financial reporting process -- The law and accounting sandwich -- Environmental laws -- Environmental financial reporting : overview -- Financial reporting objectives -- Sarbanes-Oxley : overview -- Certifications -- Internal control -- Improper influence on the audit...

President Roosevelt allegedly issued this quip after having engaged in a lengthy exchange with a visiting business delegation. While the story (true or not) may be apocryphal, it illuminates a fundamental confusion that surrounds lobbying: What is it? How does it work? When is it used? And why...

Motivated by regulatory assertions that the purpose of SOX was to restore investor confidence in the securities markets, we examine changes in the stock market reaction to earnings restatements following the implementation of SOX in order to evaluate whether the Act's reforms have had a...

We develop and test a model that links internal control over financial reporting (ICOFR) disclosures to users' confidence in the standard audit report (SAR) on the financial statements. The model suggests that users' confidence in the SAR is determined by the consistency of the message conveyed...

The ultimate objective of financial reporting is to provide transparent financial statements and disclosures that meet the informational needs of investors and other users of financial statements. One of the primary goals of the Sarbanes-Oxley Act (USHR 2002) is to provide more reliable...

This paper studies the factors that affect a firm's choice to dismiss or remain with their incumbent auditors when faced with adverse auditor opinions on the design and effectiveness of their internal controls. The study focuses on a unique sample of firms that received an adverse opinion in one...

The purpose of our study is to assess the role of litigation risk in the stock price setting process in relation to the Securities and Exchange Commission (SEC) Exchange Act Rule 13a-14. We employ 12 June, the proposal of Rule 13a-14, and 27 June, the ruling of certification requirement, as...