The paper presents a conceptual framework of financial fraud based on the historical interaction of opportunity and impediment. In the long run the character of opportunity is determined by the technical characteristics of assets and their unique, unknowable or unverifiable features. Impediment...

As of January 1, 2013, most of the world financial market economies are using International Reporting Standards (IFRS) as the required framework for financial statements. A non-comprehensive listing includes the European Union Countries, Canada, Australia, Japan and New Zealand. In the United...

This paper investigates empirically the effect of ownership concentration on corporate disclosure choice in Bangladesh. In an environment of weak enforceability of laws, corporate culture in Bangladesh is characterized by family control and concentrated ownership. Controlling shareholders...

Effective for fiscal years beginning after December 15, 2006, FIN 48 significantly altered uncertain tax benefit (UTB) recognition and disclosure requirements relative to its predecessor standard, FAS 5. We examine the effect of the new standard on audit pricing. We first document that...

The report looks at the costs and benefits of regulating SMEs' financial reporting, at why SMEs may require a different regime from other businesses, and at what research can tell us about these questions. It concludes that the evidence available to date is insufficient to develop policies that...

The qualitative assessment allowed after December 2011 is intended to reduce the complexity and costs of impairment tests for goodwill and other indefinite-lived intangibles. This assessment is unique because it gives an unconditional option to companies and depends on subjective qualitative...

The paper examined the issues in internal audit reliability. It specifically provided conceptual and practical insights into some of the consequential issues worth pondering about when assessing the reliability of the internal audit functions. Particularly, the paper identified and discussed...

This paper examines banks' disclosures and loss recognition in the financial crisis and identifies several core issues for the link between accounting and financial stability. Our analysis suggests that, going into the financial crisis, banks' disclosures about relevant risk exposures were...

This study addresses two potential ways of communicating an exclusion from a statutory audit of narratives, as recently proposed by auditors: (1) an explicit label at the page margin and (2) an appendix to the auditor's report referencing unaudited information. We conduct an eye-tracking...

This paper studies how mandating higher book-tax conformity influences a manager's strategy to misreport financial and taxable incomes in the presence of a financial auditor and subsequently a tax auditor. The main result is that allowing for some differences between GAAP and tax laws minimizes...