The Malawian Banking Act 2010 and Financial Services Act 2010 require that external auditors of Malawian banks should perform extra duties on behalf of Central Bank in additional to specific duties outlined in the Malawi Companies Act 1984 and International Standards on Auditing (ISAs). The...

Malawi Stock Exchange Listing Rules stipulate that listed companies are required to publish interim financial statements covering half year period in accordance with International Financial Reporting Standards. Equally, Reserve Bank of Malawi Information Directive dictates that all Malawian...

Multinational Banks operate on a wider economic and geographical spectrum and are faced with vast challenges in each economic territory. There is however general observation that multinational banks do not make proper disclosures on portfolios operating in hyperinflationary economies as outlined...

This paper examines the implications of the option value of equity for firms' disclosures. Merton (1974) shows that the equity of levered firms is equivalent to a call option whose value increases in the expected variance of future cash flows. I use this equivalence to calculate firms' vega,...

A new generation of corporate reporting - integrated reporting - is emerging that will help investors and other key stakeholders such as employees, customers, suppliers, and NGOs develop a deeper and more comprehensive appreciation of corporate performance than what is currently provided by GAAP...

This paper summarizes the Statement on Auditing Standards (SAS) No. 106 – Audit Evidence. It extends the importance on why the financial statements should be fairly stated and in conformity, in all material respects, with Generally Accepted Accounting Principles (GAAP). Also, extends why audit...

In this paper, we investigate whether superior performance on corporate social responsibility (CSR) strategies leads to better access to finance. We hypothesize that better access to finance can be attributed to a) reduced agency costs due to enhanced stakeholder engagement and b) reduced...

Prior research argues that sequential decisions lead to a slippery slope toward unethical or fraudulent behavior, with little evidence to support such claims. We conduct two experiments which demonstrate the existence of the slippery slope in a controlled setting, and investigate how it leads...

This book chapter discusses the significance of group psychology within the field of behavioural finance in order to provide a starting point for researchers in banking, economic, and financial history. Some of the major themes of behavioural finance are presented, including overconfidence,...

This is a PDF file of 'Financial Behavior: The Psychology of Client Communications" presented at the Financial Planning Association (FPA) of Greater Indiana Chapter, November 2019 meeting.This presentation focused on how financial experts and their clients exhibit a wide array of behavioral...