Prior studies of annual report timing treat all reports filed before SEC deadlines as similar. We show this is not the case. Nearly 40 percent of 10-Ks are filed well in advance of SEC deadlines, and the propensity of early reporting continues to increase. We find that the firm characteristics...

We analyze the disposition of auditor-proposed adjustments to financial statements. Our analysis addresses concerns, expressed by regulators and others, that auditors and their clients fixate on quantitative thresholds and overlook qualitative factors in assessing the materiality of discovered...

We provide large-sample archival evidence on the nature and consequences of immaterial error corrections. The incidence of these error corrections has been steadily increasing since about 2004, and they are associated with modestly but discernibly negative share price returns that are more...

Prior studies find that banks engage in income smoothing to distort financial performancein ways that have implications for capital allocation and regulation. We examine whether banks' incentives to engage in this behavior are reduced by government guarantees, which mitigate concerns about...

We analyze data made available through the PCAOB (Public Company Accounting Oversight Board) to provide descriptive evidence on the properties of auditors' actual quantitative materiality judgments and the implications of those judgments for financial reporting. Auditors' quantitative...