It would be interesting to know how the theories and hypotheses in auditing developed for a mature economy work in an emerging market. This paper uses the merger of Diwan, Ernst amp; Young and J. T. Lai amp; Co., CPAs in Taiwan in 2000 as a target to study the effects of a CPA-firm merger on...

We investigate whether the use of a high quality auditor and increased regulatory monitoring of Ramp;D reporting influence both the level of Ramp;D expenditure capitalized by Australian companies from 1992 to 2002 and the market's perception of the reliability of these figures. The results...

Local governments on the municipal level were among the first organizations to take part in the accounting reform in Greece that sought the transformation of the traditional budgetary cash accounting system to a new system that combines cash and accrual accounting information. In this paper we...

This paper examines whether reported cash flows from operating, investing and financing activities coincide with corresponding cash flows estimated from firms' income statements and balance sheets. The findings obtained from a sample of listed Finnish firms for 1995-1997 are the following. (i)...

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...

The International Accounting Standards Board (IASB) has the task of independently developing accounting standards. The International Accounting Standards (IAS) or International Financial Reporting Standards (IFRS) published by the IASB are transposed into European law via the so called...

Doubts about the reliability of a company's qualitative financial disclosure increase market participant expectations from the auditor's report. The auditing process is supposed to serve as a monitoring device that reduces management incentives to manipulate reported earnings. Empirical research...

Multiple stakeholders in the financial reporting process have articulated concerns over the rules-based orientation that U.S. accounting standards have adopted. Many argue that a more principles-based approach to standards setting, typified by international accounting standards, would improve...

Market regulators, commissions and accountancy bodies have recommended the establishment of audit committees as an important step in improving corporate governance. In 2002 the Kenya Capital Markets Authority required all listed companies to establish audit committees. This study examined the...