Journal of International Accounting Auditing and Taxation最新文献_第2页

Has the Transparency Directive benefited the United Kingdom? 透明度指令》是否使联合王国受益？

IF 3.3

Journal of International Accounting Auditing and Taxation Pub Date : 2024-06-26 DOI: 10.1016/j.intaccaudtax.2024.100633

Sheehan Rahman

{"title":"Has the Transparency Directive benefited the United Kingdom?","authors":"Sheehan Rahman","doi":"10.1016/j.intaccaudtax.2024.100633","DOIUrl":"https://doi.org/10.1016/j.intaccaudtax.2024.100633","url":null,"abstract":"<div><p>Post Brexit, this study contributes to assessing the efficacy of the European Union (EU) Transparency Directive (TPD) in attaining its regulator-specified goals for the United Kingdom (UK) capital market. During its adoption in 2004, the Commission of European Communities and the UK Government argued that TPD adoption should increase firms’ financial reporting quality and investment efficiency while decreasing firms’ cost of capital and information asymmetry. Using several alternative test variables in a sample of FTSE All-Share Index firms, I find evidence consistent with these four goals following TPD adoption. Additionally, I find that firms have lower cash holdings and higher dividend payouts following TPD adoption. Most of these trends do not reverse after the 2014 TPD amendment that abolished mandatory quarterly trading updates. This is the first study to examine the association between TPD adoption and firms’ cost of capital, investment efficiency, cash holdings, and dividend payout. Collectively, my results suggest that the primary regulatory goals of the TPD are being attained in the UK. Therefore, a case can be made for the relevance of the TPD and the resulting Disclosure and Transparency Rules in UK post Brexit.</p></div>","PeriodicalId":53221,"journal":{"name":"Journal of International Accounting Auditing and Taxation","volume":null,"pages":null},"PeriodicalIF":3.3,"publicationDate":"2024-06-26","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141482878","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

Human development and the quality of financial reporting among the local governments in Indonesia 印度尼西亚地方政府的人类发展与财务报告质量

IF 3.3

Journal of International Accounting Auditing and Taxation Pub Date : 2024-06-24 DOI: 10.1016/j.intaccaudtax.2024.100634

Fuad Rakhman, Singgih Wijayana

{"title":"Human development and the quality of financial reporting among the local governments in Indonesia","authors":"Fuad Rakhman, Singgih Wijayana","doi":"10.1016/j.intaccaudtax.2024.100634","DOIUrl":"https://doi.org/10.1016/j.intaccaudtax.2024.100634","url":null,"abstract":"<div><p>We investigate whether a local government’s level of human development is associated with its financial reporting quality. We use audit opinions and accruals management to capture financial reporting quality and manually collected data from our sample of 4,254 financial reports of Indonesian local governments from 2010 to 2018. We find that local governments whose citizens have a higher Human Development Index (HDI) and on each dimension of human development are more likely to receive an unqualified audit opinion on their financial reports. However, we find that local governments with a higher development index are more likely to use accruals management through revenue overestimation or expense underestimation in preparing the statement of operations. Our results suggest that employees of higher quality, as indicated by a higher HDI, have a greater ability to follow accounting rules resulting in a cleaner audit opinion. However, they might opportunistically use their judgments in making accounting estimates. Finally, our study contributes to the literature by providing insight into how human development and its dimensions are associated with the quality of financial reporting, especially in the public sector in developing countries.</p></div>","PeriodicalId":53221,"journal":{"name":"Journal of International Accounting Auditing and Taxation","volume":null,"pages":null},"PeriodicalIF":3.3,"publicationDate":"2024-06-24","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141482877","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

A structured literature review of empirical research on mandatory auditor rotation 关于强制审计师轮换制实证研究的结构化文献综述

IF 2.6

Journal of International Accounting Auditing and Taxation Pub Date : 2024-06-01 DOI: 10.1016/j.intaccaudtax.2024.100623

Cristina Florio

{"title":"A structured literature review of empirical research on mandatory auditor rotation","authors":"Cristina Florio","doi":"10.1016/j.intaccaudtax.2024.100623","DOIUrl":"10.1016/j.intaccaudtax.2024.100623","url":null,"abstract":"<div><p>This study reviews 128 empirical studies on mandatory auditor rotation (MAR) in light of the long-standing debate on the effectiveness of MAR and the different regulatory choices made worldwide over time. A structured literature review was conducted to address three research questions. How has empirical research on MAR developed from 2000 to 2022? What is the focus and critique of the empirical research on MAR? What is the future of MAR empirical research? The findings reveal growing empirical evidence on MAR. However, this evidence is fragmented and country-based. Scholars have primarily focused on audit firm rotation rather than audit partner rotation. While quantitative research based on archival data predominates, survey questionnaires prevail in a few regions. Evidence on how MAR impacts auditor independence, the auditor–client relationship, and audit market concentration is scant, whereas audit quality is the most investigated research question. Nonetheless, assessing whether MAR benefits audit quality remains challenging because the research outcomes depend on the research question, rotation type, research method, and regulations enforced in the empirical setting. Based on this comprehensive and rigorous overview of worldwide MAR empirical research, knowledge gaps are underlined, avenues for future research are suggested, and warnings are issued to shareholders and policymakers.</p></div>","PeriodicalId":53221,"journal":{"name":"Journal of International Accounting Auditing and Taxation","volume":null,"pages":null},"PeriodicalIF":2.6,"publicationDate":"2024-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://www.sciencedirect.com/science/article/pii/S1061951824000296/pdfft?md5=24959b110896c402ee277652784dcd8e&pid=1-s2.0-S1061951824000296-main.pdf","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141051793","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

Abnormal audit fees and financial reporting quality: A meta-analysis 异常审计费用与财务报告质量：荟萃分析

IF 2.6

Journal of International Accounting Auditing and Taxation Pub Date : 2024-05-13 DOI: 10.1016/j.intaccaudtax.2024.100622

Xuelian Li, Ming Liu

引用次数: 0

Informal institutions in accounting research: A structured literature review 会计研究中的非正式机构：结构化文献综述

IF 2.6

Journal of International Accounting Auditing and Taxation Pub Date : 2024-05-11 DOI: 10.1016/j.intaccaudtax.2024.100621

Stergios Leventis , Ioannis Tsalavoutas , Fanis Tsoligkas

引用次数: 0

Value relevance of accounting numbers and sustainability information in Europe: Empirical evidence from nonfinancial companies 欧洲会计数字和可持续性信息的价值相关性：来自非金融公司的经验证据

IF 2.6

Journal of International Accounting Auditing and Taxation Pub Date : 2024-04-25 DOI: 10.1016/j.intaccaudtax.2024.100620

Alessandro Migliavacca

{"title":"Value relevance of accounting numbers and sustainability information in Europe: Empirical evidence from nonfinancial companies","authors":"Alessandro Migliavacca","doi":"10.1016/j.intaccaudtax.2024.100620","DOIUrl":"10.1016/j.intaccaudtax.2024.100620","url":null,"abstract":"<div><p>Information is considered value relevant when used by financial markets in equity valuation and is reflected in market values. The value relevance of different information, such as accounting numbers, changes according to shifts in investors’ needs. Given the rising importance of environmental and social agendas for policymakers and practitioners, this study examines whether accounting numbers have lost explanatory power and sustainability information has become value relevant. The analysis focuses on 3025 nonfinancial companies operating in the eurozone from 2005 to 2020. This study makes several contributions to the extant literature. First, analyzing the trend in the value relevance of financial accounting numbers, the results point to an overall decrease in the explanatory power of book values and earnings, particularly for environmental, social, and governance (ESG)-rated companies. However, the results indicate that ESG ratings have not gained value relevance over time. These findings have important implications for policymakers and practitioners. In line with the concept of “double materiality,” implementing ESG agendas will be possible only by redirecting corporate investment decision and increasing awareness of sustainability issues. This paper documents that such a shift has not yet been accomplished, despite the increasing commitment of the European Union to the ESG agenda.</p></div>","PeriodicalId":53221,"journal":{"name":"Journal of International Accounting Auditing and Taxation","volume":null,"pages":null},"PeriodicalIF":2.6,"publicationDate":"2024-04-25","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://www.sciencedirect.com/science/article/pii/S1061951824000260/pdfft?md5=cd14bb0ce05a5e7f584e242288936982&pid=1-s2.0-S1061951824000260-main.pdf","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140791666","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

Do key audit matters matter? Correspondence between auditor and management disclosures and the role of audit committees 关键审计事项重要吗？审计师和管理层披露的信息之间的对应关系以及审计委员会的作用

IF 2.6

Journal of International Accounting Auditing and Taxation Pub Date : 2024-04-23 DOI: 10.1016/j.intaccaudtax.2024.100617

Mahmoud Hosseinniakani , Conny Overland , Niuosha Samani

{"title":"Do key audit matters matter? Correspondence between auditor and management disclosures and the role of audit committees","authors":"Mahmoud Hosseinniakani , Conny Overland , Niuosha Samani","doi":"10.1016/j.intaccaudtax.2024.100617","DOIUrl":"https://doi.org/10.1016/j.intaccaudtax.2024.100617","url":null,"abstract":"<div><p>This study examines whether there is a correspondence between auditor disclosures of key audit matters (KAMs) and management disclosures of significant accounting policies and estimates, following the introduction of the International Standard on Auditing (ISA) 701. In addition, we investigate how audit committees moderate the relationship. We employ a sample of Swedish listed firms (2016–2018), using measures that capture the extent and quality of management disclosures and how they relate to auditor KAM disclosures, including the number of accounting items disclosed, total number of words, and number of unique KAM-related words (via a “bag-of-word” technique). We find a positive correspondence between auditor and management disclosures, and the correlation is greater in firms with an audit committee. Additional analyses provide evidence that management disclosure quality increases after the introduction of ISA 701, but the positive effect is mostly found in firms with a separate audit committee on the board. The results are robust to alternative measures for disclosures and using a matched sample design. Our findings suggest that policymakers should consider the interplay between audit standards and audit committees.</p></div>","PeriodicalId":53221,"journal":{"name":"Journal of International Accounting Auditing and Taxation","volume":null,"pages":null},"PeriodicalIF":2.6,"publicationDate":"2024-04-23","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://www.sciencedirect.com/science/article/pii/S1061951824000235/pdfft?md5=5e3322eea6f5144caf2231e7d86d6932&pid=1-s2.0-S1061951824000235-main.pdf","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140645870","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

The effect of tone, signature, and visual elements in compliance management systems disclosures on financial analysts’ decisions 合规管理系统披露中的语气、签名和视觉元素对财务分析师决策的影响

IF 2.6

Journal of International Accounting Auditing and Taxation Pub Date : 2024-04-22 DOI: 10.1016/j.intaccaudtax.2024.100619

Reiner Quick, Sanjar Sayar

{"title":"The effect of tone, signature, and visual elements in compliance management systems disclosures on financial analysts’ decisions","authors":"Reiner Quick, Sanjar Sayar","doi":"10.1016/j.intaccaudtax.2024.100619","DOIUrl":"https://doi.org/10.1016/j.intaccaudtax.2024.100619","url":null,"abstract":"<div><p>Numerous corporate scandals, in conjunction with managerial misbehavior, demonstrate both the need for effective compliance management systems (CMS) and the relevance of compliance reporting. Disclosure elements are a major differentiator when reporting on CMS. This study investigates whether the tone, top managers’ signatures, and visual elements affect financial analysts’ perceptions and decisions. We use several theories from cognitive psychology which suggest that positive tone, the presence of signatures, and the combination of textual and visual elements can induce more favorable perceptions of compliance disclosure. In a 2 × 2 × 2 between-subjects experiment with 148 financial analysts from Germany, we manipulate tone (positive vs. negative), top managers’ signatures (present vs. absent), and visual elements (present vs. absent) to measure analyst perceptions of reliability, understandability, and usability, as well as credit risk, purchase, and recommendation decisions. We then sum up these dependent variables to create two new variables, perceptions, and decisions. Our results suggest that negatively toned compliance disclosure positively affects financial analyst perceptions, unless it is combined with a visual, as well as their decisions, unless it is combined with both a signature and a visual element. Additionally, signatures and a visual element have an overall positive effect on analyst perceptions. The study’s results confirm the relevance of disclosure elements in compliance reporting, which should be of interest to preparers, users, auditors, and regulators of compliance disclosure.</p></div>","PeriodicalId":53221,"journal":{"name":"Journal of International Accounting Auditing and Taxation","volume":null,"pages":null},"PeriodicalIF":2.6,"publicationDate":"2024-04-22","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://www.sciencedirect.com/science/article/pii/S1061951824000259/pdfft?md5=6ac42ad1dd13f826a6fd3b7ae6fc6ba0&pid=1-s2.0-S1061951824000259-main.pdf","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140649151","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

Does female director expertise on audit committees matter for carbon disclosures? Evidence from the United Kingdom 审计委员会中女性董事的专长对碳信息披露有影响吗？来自英国的证据

IF 2.6

Journal of International Accounting Auditing and Taxation Pub Date : 2024-04-19 DOI: 10.1016/j.intaccaudtax.2024.100618

Kaleemullah Abbasi , Ashraful Alam , Md. Borhan Uddin Bhuiyan , Md Tariqul Islam

{"title":"Does female director expertise on audit committees matter for carbon disclosures? Evidence from the United Kingdom","authors":"Kaleemullah Abbasi , Ashraful Alam , Md. Borhan Uddin Bhuiyan , Md Tariqul Islam","doi":"10.1016/j.intaccaudtax.2024.100618","DOIUrl":"https://doi.org/10.1016/j.intaccaudtax.2024.100618","url":null,"abstract":"<div><p>We investigate whether accounting and non-accounting female financial experts on audit committees influence carbon disclosures. Based on a sample of listed firms from the United Kingdom for 2009–2015, our findings show that non-accounting female experts on audit committees increase carbon disclosures. Our results support the view that non-accounting female experts possess greater business knowledge and are skilled in foreseeing the impact of management’s decisions, thus, enhancing carbon disclosures. Furthermore, our results are robust to alternative estimation techniques and endogenous concerns. We also find that firms in less carbon-intensive industries benefit from higher carbon disclosure in the presence of female non-accounting experts on audit committees. This study contributes to the recent research on corporate governance and carbon disclosures. Further, it extends recent studies identifying the specific characteristics of female directors that enhance environmental disclosures. Moreover, we respond to the calls for research on the personal attributes of directors and carbon disclosures by examining whether the accounting and non-accounting expertise of female directors on audit committees affects carbon disclosures.</p></div>","PeriodicalId":53221,"journal":{"name":"Journal of International Accounting Auditing and Taxation","volume":null,"pages":null},"PeriodicalIF":2.6,"publicationDate":"2024-04-19","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://www.sciencedirect.com/science/article/pii/S1061951824000247/pdfft?md5=873841280dd535b10df4d9fbc2af890e&pid=1-s2.0-S1061951824000247-main.pdf","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140649152","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

Do taxes explain why firms rarely use performance-based malus contracts? 税收是否解释了为什么公司很少使用基于业绩的差额合同？

IF 2.6

Journal of International Accounting Auditing and Taxation Pub Date : 2024-04-16 DOI: 10.1016/j.intaccaudtax.2024.100616

Rainer Niemann , Mariana Sailer

{"title":"Do taxes explain why firms rarely use performance-based malus contracts?","authors":"Rainer Niemann , Mariana Sailer","doi":"10.1016/j.intaccaudtax.2024.100616","DOIUrl":"10.1016/j.intaccaudtax.2024.100616","url":null,"abstract":"<div><p>Performance-based bonus contracts trigger financial rewards if goals are attained, while performance-based malus contracts punish target failure by means of financial penalties. Recommended and demanded by various stakeholders, malus contracts can be a competitive alternative that curbs high executive remuneration—nevertheless, firms rarely implement them in executive remuneration packages. A reason for this may lie in the tax treatment of corporate losses and executive remuneration. We analytically examine the effects of the most common forms of corporate taxation (symmetric and asymmetric) and personal wage taxation (proportional and progressive) on a firm owner’s contract choice. Our findings show that neither symmetric corporate nor proportional wage taxation impede malus contracts. However, asymmetric corporate taxation tends to disadvantage malus contracts compared to bonus contracts. Furthermore, progressive wage taxation has the potential to make malus contracts less attractive. This insight can add to the explanation for why firms rarely use performance-based malus contracts.</p></div>","PeriodicalId":53221,"journal":{"name":"Journal of International Accounting Auditing and Taxation","volume":null,"pages":null},"PeriodicalIF":2.6,"publicationDate":"2024-04-16","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://www.sciencedirect.com/science/article/pii/S1061951824000223/pdfft?md5=029678943bafd7c275d8a1b31f987074&pid=1-s2.0-S1061951824000223-main.pdf","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140759178","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0