By convention, the quality of an audit is understood to relate to the joint probability that its conduct results in the detection and reporting of material financial statement errors. Early research into this phenomenon suggested a positive relationship between audit firm size and audit quality....

The paper has described and examined the most relevant corporate governance developments in Italy, taking into account both the normative developments, such as laws and codes of conducts, as well as actual developments in corporate practices. Taking into accounting the ownership and control...

This paper examined the key issues related to the effects of introduction of fair value in a stakeholder-oriented accounting system. In particular, it discussed how the decision of the Italian policymaker to limit the distribution to shareholders of fair value gains is rooted on the importance...

The paper has described and examined the most relevant corporate governance developments in Italy, taking into account both the normative developments, such as laws and codes of conducts, as well as actual developments in corporate practices. Taking into accounting the ownership and control...

This paper analyses and discusses the quot;positivequot; issues of the overriding international financial reporting standards principle of quot;true and fair viewquot; in connection with corporate governance mechanisms. The analysis is based on case study evidence. Empirical evidence from the...

We investigate the stock price reaction to UK going-concern audit report disclosures in the calendar year subsequent to publication. Over this period our firm population underperforms by between 24% and 31% depending on the benchmark adopted. This market underreaction to such an unambiguous bad...

In this study we compare the timeliness and conservatism of reported earnings across the U.S. and U.K. GAAP regimes. We present a theoretical model of the differential speeds of recognition of good news and bad news. This suggests informative and relatively robust ways of measuring dimensions of...

Full and frank disclosure between corporate issuers and their auditors and accounting advisors is critical for maintaining access to the information required for audits and public confidence in the capital markets. While tax authorities in the United States, Australia, New Zealand and the United...

All UK companies are required by company law to prepare financial statements that must comply with law and accounting standards. With the exception of very small companies, financial accounts must then be audited by UK registered auditors who must express an opinion on whether these statements...

This paper seeks to address the challenges of tracking money sources in a Cashed-Based Economy by considering the best practices in conducting financial investigations in this area and Money Laundering, using forensic accounting techniques. Answers were provided to the following fundamental...