Download or read book Corporate Governance and the Timeliness of Financial Reporting written by Robert W. McGee and published by . This book was released on 2008 with total page 10 pages. Available in PDF, EPUB and Kindle. Book excerpt: Timeliness of financial reporting is one of the attributes of good corporate governance identified by the OECD and World Bank. Shareholders and other stakeholders need information while it is still fresh and the more time that passes between year-end and disclosure, the more stale the information becomes and the less value it has. This paper examines the timeliness of financial reporting in the People's Republic of China. The timeliness of financial reporting was measured by counting the number of days that elapsed between year-end and the date of the independent auditor's report for a number of Chinese companies. Those results were then compared to data of non-Chinese companies in developed market economies to determine whether there was a significant difference. This study also examines which independent audit firms issued the audit opinion and which sets of accounting standards were used (IFRS, US GAAP or Chinese accounting standards) to determine which audit firms and accounting standards dominate.

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Download or read book Corporate Governance and the Timeliness of Financial Reporting written by Robert W. McGee and published by . This book was released on 2008 with total page 14 pages. Available in PDF, EPUB and Kindle. Book excerpt: Timeliness of financial reporting is an attribute of good corporate governance. Shareholders and other stakeholders need information while it is still fresh and the more time that passes between year-end and disclosure, the more stale the information becomes and the less value it has. Corporate governance is a relatively new concept for transition economies. Prior to the fall of the Berlin Wall and the collapse of the Soviet Union there were no profit-making corporations, no shareholders and no need to report financial results except to the government. All that has changed. In order to raise capital, corporations need to convince potential investors that an investment in their company will be safe. That requires financial reporting standards that can be trusted and financial information that is reported in a timely manner. But the culture of former communist countries is not to disclose information. That mentality is changing as their formerly closed economies open up to investment from the west. This paper examines the timeliness of financial reporting in several transition economies that are new European Union members and makes comparisons to companies in four older members of the EU. The goal of the paper is to determine whether there is a significant difference in the timeliness of financial reporting between the two groups of companies. The paper also reports on the relative market share of the accounting firms that audit companies in the European transition economies.

Download or read book Corporate Governance and the Timeliness of Financial Reporting written by Robert W. McGee and published by . This book was released on 2014 with total page 15 pages. Available in PDF, EPUB and Kindle. Book excerpt: Timeliness of financial reporting is an attribute of good corporate governance. Shareholders and other stakeholders need information while it is still fresh and the more time that passes between year-end and disclosure, the more stale the information becomes and the less value it has. Corporate governance is a relatively new concept for transition economies. Prior to the fall of the Berlin Wall and the collapse of the Soviet Union there were no profit-making corporations, no shareholders and no need to report financial results except to the government. All that has changed. In order to raise capital, corporations need to convince potential investors that an investment in their company will be safe. That requires financial reporting standards that can be trusted and financial information that is reported in a timely manner. But the culture of former communist countries is not to disclose information. That mentality is changing as their formerly closed economies open up to investment from the west. This article examines the timeliness of financial reporting in the Russian energy sector. One reason why this segment of the economy was chosen is because it is one of the most important economic sectors. Another reason is because the energy sector has been the recipient of large sums of foreign investment, which presumably means the standards of financial reporting in the energy sector is better than average. The timeliness of financial reporting in the Russian energy sector was measured by counting the number of days that elapsed between year-end and the date of the independent auditor's report. Those results were then compared to the timeliness of financial reporting by non-Russian energy companies to determine whether there was a significant difference in the timeliness of financial reporting. The study found that Russian companies took significantly more time to report financial results than did the non-Russian companies.

Download or read book Financial Reporting and Corporate Governance written by Thomas A. Lee and published by John Wiley & Sons. This book was released on 2007-04-02 with total page 309 pages. Available in PDF, EPUB and Kindle. Book excerpt: The aim of the book is to give non-accounting students a basic ability and confidence to read and use financial accounting reports and statements within their business or financial specialties. Many employees in business today are expected to be conversant with reported accounting information as part of their regular job responsibilities. However, they often have little formal training in using such information. For example, in most Western countries, corporate directors and senior executives are legally responsible for the content and quality of publicly reported accounting statements, yet typically have no accounting background or experience to help in the discharge of these responsibilities. The theme of the book is financial reporting as an essential and significant part of corporate governance. There is continuous pressure on companies from government and stakeholder groups to improve their governance and accountability structures and procedures. This book reveals how financial statements and related disclosures assist in good governance and accountability by providing relevant and reliable accounting signals of managerial performance.

Download or read book The Accountant s Role in Corporate Governance Global Unified Transparency and Disclosure Criteria for Financial Reporting written by Michelle Simbulan and published by GRIN Verlag. This book was released on 2021-11-17 with total page 72 pages. Available in PDF, EPUB and Kindle. Book excerpt: Academic Paper from the year 2021 in the subject Business economics - Investment and Finance, grade: Post graduate, , language: English, abstract: This study investigated the principles and criteria for transparency and disclosure in financial reporting and the accountant’s contribution facilitating its implementation. Corporate governance stands upon several principles, raised from the Cadbury report, Principles of Corporate Governance, and Sarbanes-Oxley Act of 2002. It includes rights and equitable treatment of shareholders, interests of stakeholders, role and responsibilities of the board, integrity and ethical behavior, and disclosure and transparency. Disclosure and transparency are one of the principles of corporate governance that aims to inform the public of the roles and responsibilities of the board and management in order to provide stakeholders with a level of accountability. It also includes the implementation of procedures to independently verify and safeguard the integrity of the company’s financial reporting..

Download or read book Corporate Governance the Timeliness of Financial Reporting and the Russian Banking System written by Robert W. McGee and published by . This book was released on 2008 with total page 23 pages. Available in PDF, EPUB and Kindle. Book excerpt: Transparency is one of those terms that have many facets. It is used in different ways. It can refer to the openness of governmental functions. It can refer to a country's economy. Or it can refer to various aspects of corporate governance and financial reporting. The OECD (1998) lists transparency as one element of good corporate governance. Kulzick (2004) and others (Blanchet, 2002; Prickett, 2002) view transparency from a user perspective. According to their view, transparency includes the following eight concepts: accuracy, consistency, appropriateness, completeness, clarity, timeliness, convenience, and governance and enforcement. This paper focuses on just one aspect of transparency - timeliness.The International Accounting Standards Board considers timeliness to be an essential aspect of financial reporting. In APB Statement No. 4, the Accounting Principles Board (1970) in the USA listed timeliness as one of the qualitative objectives of financial reporting disclosure. APB Statement No. 4 was later superseded but the Financial Accounting Standards Board continued to recognize the importance of timeliness in its Concepts Statement No. 2 (1980). The U.S. Securities and Exchange Commission also recognizes the importance of timeliness and requires that listed companies file their annual 10-K reports by a certain deadline.The issue of timeliness has several facets. There is an inverse relationship between the quality of financial information and the timeliness with which it is reported (Kenley amp; Staubus, 1974). Accounting information becomes less relevant with the passage of time (Atiase, Bamber amp; Tse, 1989; Hendriksen amp; van Breeda, 1992; Lawrence amp; Glover, 1998).

Download or read book Corporate Governance and Financial Reporting written by Niamh Brennan and published by SAGE Publications Limited. This book was released on 2008-03-03 with total page 456 pages. Available in PDF, EPUB and Kindle. Book excerpt: This major work, compiled by one of the leading academics in Europe in the area of Corporate Governance, brings together key readings in the field, focusing on those corporate governance mechanisms influencing financial reporting and accountability.

Download or read book Reaching Key Financial Reporting Decisions written by Stella Fearnley and published by John Wiley & Sons. This book was released on 2011-08-04 with total page 471 pages. Available in PDF, EPUB and Kindle. Book excerpt: The regulatory framework for financial reporting, auditing and governance has changed radically in recent years, as a result of problems identified from the Enron scandal and more recently from the drive to implement global standards. In a key regulatory change, a company audit committee is now expected to play a significant role in agreeing the contents of the financial statements and overseeing the activities of the auditors. Finance Directors, Audit Committee Chairs and Audit Engagement Partners are required to discuss and negotiate financial reporting and auditing issues, a significant process leading to the agreement of the published numbers and disclosures, and to the issuing of the auditor's report which accompanies them, but which is entirely unobservable by third parties. Reaching Key Financial Reporting Decisions: How Directors and Auditors Interact is a fascinating, behind-the-scenes examination of this closed process. The authors draw on the results of face to face interviews, and an extensive survey of finance directors, audit committee chairs and audit partners, and present nine company case studies highlighting the process of discussion and negotiation and the methods by which the agreed financial reporting outcome was reached. Detailed analysis of the case studies: Allows those involved in the process to benchmark their behaviours against those of others Enables a comparison between the previous and current regulatory environments to see what has changed, and sheds light on the sorts of behaviours the current regulatory framework encourages Evaluates the effectiveness of the changed regulatory regime, providing evidence relevant to current policy debates concerning the value of audit, IFRS and the relative merit of rules-based versus principles-based accounting standards in relation to professional judgement and compliance The unprecedented access and unique insights offered by this book make it invaluable for audit firm staff and partners, audit committee chairs and company directors involved in agreeing the published financial statements, as well as those who have an interest in the financial statements, but do not have access to the negotiation process.

Download or read book Corporate Governance and Company Attributes on the Financial Reporting Timeliness written by Ikbar Pratama and published by . This book was released on 2015 with total page 151 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book A Director s Guide to Corporate Financial Reporting written by Krista Fiolleau and published by Business Expert Press. This book was released on 2010-02-15 with total page 120 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book is designed for corporate directors and senior executives who want to gain a better understanding of accounting. Corporate directors and managers are under pressure from recent changes in the law (especially The Sarbanes-Oxley Act 2002) and demands by shareholders and the public to be more informed, vigilant and involved in the governance of business organizations.

Download or read book Corporate Governance in Transition Economies written by Robert W. McGee and published by Springer Science & Business Media. This book was released on 2008-11-16 with total page 418 pages. Available in PDF, EPUB and Kindle. Book excerpt: "Corporate Governance in Transition Economies" will appeal to a wide segment of the academic market including accounting and finance professors and students because the main theme of the book deals with accounting and financial system reform. Economists in the subfields of transition economics and development economics for it addresses current issues in their field. It will also appeal to scholars in the field of Russian and East European Studies because the book discusses topics involving Russia, Ukraine and other East European countries. Policy analysts who deal with accounting, finance, transition economics or Russia or Eastern Europe will also find this book to be a valuable reference and source of current information.

Download or read book Corporate Governance and Timeliness of Financial Reporting by Indian Banks A Comparative Research Analysis written by Charumathi Balakrishnan and published by . This book was released on 2020 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: Corporate governance has been subject to significant attention in recent times. It is more like a backbone of any corporate that emphasizes its role for survival and sustainable growth in the long run. Corporate governance ensures transparency. Transparency includes the following eight concepts, namely accuracy, consistency, appropriateness, completeness, clarity, timeliness, convenience, and governance & enforcement. Out of these, Timeliness of financial reporting is one of the attributes of good corporate governance identified by the OECD and World Bank. Shareholders and other Stakeholders need information while it is fresh and with high relevance. This paper examines the timeliness of financial reporting by Indian banks. Timeliness was measured by counting the number of days that has been lapsed between year-end and the date of the auditor's report of the concerned banks. We took 18 banks present in the bankex list of Bombay Stock Exchange as on 28th May 2009, remaining 15 Public sector (Non-bankex) banks, and 13 Private sector (Non-bankex) banks as sample and compared their reporting patterns for the financial years 2005-2008. The reliable data were drawn from PROWESS, the database of Centre for Monitoring Indian Economy (CMIE).

Download or read book Corporate Governance and Timeliness of Financial Reporting by Indian Realty Companies An Empirical Study written by Charumathi Balakrishnan and published by . This book was released on 2020 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Indian real estate sector plays a significant role in the Indian economy. It is second only to agriculture in terms of employment generation and substantially contributes to the gross domestic product of the country. But, some constraints and lack of transparency are present in its governance issues. As Corporate governance became the subject of attention in recent times, its presence is like a backbone for any corporate that emphasizes its role for survival and sustainable growth in the long run. It ensures transparency. Transparency includes the following eight concepts, namely accuracy, consistency, appropriateness, completeness, clarity, timeliness, convenience, and governance & enforcement. Out of these, Timeliness of financial reporting is one of the attributes of good corporate governance identified by the OECD and World Bank. Shareholders and other Stakeholders need information while it is fresh and with high relevance. This paper examines the timeliness of financial reporting by Indian Real Estate Companies. Timeliness was measured by counting the number of days that has been lapsed between year-end and the date of the auditor's report of the concerned companies. We took 13 realty companies which constitute the Realty Index of Bombay Stock Exchange and compared their reporting patterns for the financial years 2006-2010. The reliable data were drawn from the CMIE database Prowess and annual reports of the respective companies. This study used Chi-Square Test and Analysis of variance to analyze the data. It is found that there is no significant lag in financial reporting of Indian realty companies. However, there is a significant difference among the Indian realty companies in their reporting pattern.

Download or read book Handbook on Emerging Issues in Corporate Governance written by Alireza Tourani-Rad and published by World Scientific. This book was released on 2011 with total page 316 pages. Available in PDF, EPUB and Kindle. Book excerpt: The book highlights emerging topics in key areas of corporate governance with special emphasis on traditionally unexplored issues. It also aims to stimulate thinking and debate on vital aspects of practice and approaches to corporate governance. The topics covered in this book deal with timely subjects, written by eminent academics and renowned professionals with outstanding expertise in their respective fields, who bring to fore the latest theories and provide an up-to-date overview of the extant literature on each topic. More importantly, they draw readers attention to implications for future research and developments. The book not only contributes to the academic literature but also improves the decision making of regulators and investors.

Download or read book Timeliness of Corporate Financial Reports written by Salleh Hassan and published by . This book was released on 2007 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Corporate Financial Reporting written by Andrew Higson and published by SAGE. This book was released on 2002-12-13 with total page 242 pages. Available in PDF, EPUB and Kindle. Book excerpt: `This is a book which should be read by all students, whether undergraduate and postgraduate. It also provides a succinct guide for the manager who wishes to come to grips with this topic, or the accountant nostalgic to recollect the non too praiseworthy and indecisive history of this topic′ - Managerial Auditing Journal Corporate Financial Reporting critically examines contemporary corporate financial reporting. The complexity of the reporting process and the myriad of issues facing the directors, accountants and auditors can only be successfully understood from a firm conceptual base. Recent financial scandals clearly highlight the interrelationships between all the themes explored in this book, from financial reporting to auditing, from management′s motivations to fraud. Special features of this book include: - A critical examination of accounting ′theory′ - Senior practitioners′ insights on ′a true and fair view′ - An exploration of ′the financial reporting expectations gap′ - A discussion of the nature of ′corporate performance′ - An examination of corporate fraud - An examination of the implications of ′real-time′ reporting by companies - Discussion questions at the end of each chapter The book will be relevant to advanced undergraduate as well as postgraduate and MBA students.