Accounting Restatements And Key Audit Matters Disclosure

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Accounting Restatements and Key Audit Matters disclosure - e-Book

Author : MATOZZA FELICE
Publisher : G Giappichelli Editore
ISBN 13 : 8892194550
Total Pages : 209 pages
Book Rating : 4.8/5 (921 download)

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Book Synopsis Accounting Restatements and Key Audit Matters disclosure - e-Book by : MATOZZA FELICE

Download or read book Accounting Restatements and Key Audit Matters disclosure - e-Book written by MATOZZA FELICE and published by G Giappichelli Editore. This book was released on 2022-07-15 with total page 209 pages. Available in PDF, EPUB and Kindle. Book excerpt: This monograph is one of the few books to investigate the understudied but fascinating topic of accounting restatement in the European context. In the first chapter, substantial changes over time in treatments for correction of errors under the International Financial Reporting Standards and Italian generally accepted accounting principles are examined. Following that, a brief overview of the literature, mainly concerning the United States environment, and characteristics of and trends in accounting issues drawn from restatements announced by a sample of firms listed in European countries from 2016 to 2020 are presented. After a review of multi-country empirical research, chapter 3 presents an assessment of the frequency and severity of restatements at the country, industry and year levels. Finally, chapter 4 considers the forewarning effect of topics communicated in the key audit matters in relation to subsequently revealed account-specific misstatements by proposing a new matching procedure. Throughout the work, the author provides frequent comparisons with findings obtained by United States scholars.

Accounting Restatements and Key Audit Matters disclosure

Author : MATOZZA FELICE
Publisher : G Giappichelli Editore
ISBN 13 : 8892122363
Total Pages : 19 pages
Book Rating : 4.8/5 (921 download)

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Book Synopsis Accounting Restatements and Key Audit Matters disclosure by : MATOZZA FELICE

Download or read book Accounting Restatements and Key Audit Matters disclosure written by MATOZZA FELICE and published by G Giappichelli Editore. This book was released on 2022-07-15 with total page 19 pages. Available in PDF, EPUB and Kindle. Book excerpt: This monograph is one of the few books to investigate the understudied but fascinating topic of accounting restatement in the European context. In the first chapter, substantial changes over time in treatments for correction of errors under the International Financial Reporting Standards and Italian generally accepted accounting principles are examined. Following that, a brief overview of the literature, mainly concerning the United States environment, and characteristics of and trends in accounting issues drawn from restatements announced by a sample of firms listed in European countries from 2016 to 2020 are presented. After a review of multi-country empirical research, chapter 3 presents an assessment of the frequency and severity of restatements at the country, industry and year levels. Finally, chapter 4 considers the forewarning effect of topics communicated in the key audit matters in relation to subsequently revealed account-specific misstatements by proposing a new matching procedure. Throughout the work, the author provides frequent comparisons with findings obtained by United States scholars.

Financial Reporting Handbook

Author : Michael R. Young
Publisher : Aspen Publishers Online
ISBN 13 : 0735546029
Total Pages : 1824 pages
Book Rating : 4.7/5 (355 download)

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Book Synopsis Financial Reporting Handbook by : Michael R. Young

Download or read book Financial Reporting Handbook written by Michael R. Young and published by Aspen Publishers Online. This book was released on 2003 with total page 1824 pages. Available in PDF, EPUB and Kindle. Book excerpt: Never before has a single reference provided such quick access to every critical aspect of financial reporting. In addition to covering the new Sarbanes-Oxley legislation, SEC rules and regulations, and corporate governance standards promulgated by the Independence Standards Board and the AICPA at institutions such as New York Stock Exchange, NASDAQ, and the American Stock Exchange, the Financial Reporting Handbook tackles important underlying themes such as the centrality of the audit committee, the individual responsibility of executives, and the integrity of the outside auditor. Best of all, the Financial Reporting Handbook will be updated every quarter with the relevant laws and regulations that are developed and implemented.

Financial Statement Restatements

Author : United States. General Accounting Office
Publisher :
ISBN 13 :
Total Pages : 276 pages
Book Rating : 4.F/5 ( download)

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Book Synopsis Financial Statement Restatements by : United States. General Accounting Office

Download or read book Financial Statement Restatements written by United States. General Accounting Office and published by . This book was released on 2002 with total page 276 pages. Available in PDF, EPUB and Kindle. Book excerpt:

The Effects of Critical Audit Matter Paragraphs and Accounting Standard Precision on Auditor Liability

Author : Christine Gimbar
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (13 download)

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Book Synopsis The Effects of Critical Audit Matter Paragraphs and Accounting Standard Precision on Auditor Liability by : Christine Gimbar

Download or read book The Effects of Critical Audit Matter Paragraphs and Accounting Standard Precision on Auditor Liability written by Christine Gimbar and published by . This book was released on 2016 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: The Public Company Accounting Oversight Board recently proposed amendments to the standard audit report that would require the disclosure of critical audit matters (CAMs), and the Securities and Exchange Commission continues to evaluate the use of principles-based (imprecise) accounting standards within U.S. generally accepted accounting principles. We assert that precise accounting standards are perceived by jurors to constrain auditors' control over financial reporting outcomes, resulting in a lower propensity for negligence verdicts when the accounting treatment conforms to the precise standard. However, we hypothesize that the use of either imprecise standards or CAMs removes this constraint, leading to increased auditor liability. We present experimental evidence, including a mediation analysis, supporting this argument. Our results highlight the similarities between the effects of imprecise accounting standards and CAMs on negligence assessments. The results provide insight for regulators and the profession about the potential interactive consequences of the proposed regulatory changes.

Reaching Key Financial Reporting Decisions

Author : Stella Fearnley
Publisher : Wiley
ISBN 13 : 9780470748749
Total Pages : 0 pages
Book Rating : 4.7/5 (487 download)

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Book Synopsis Reaching Key Financial Reporting Decisions by : Stella Fearnley

Download or read book Reaching Key Financial Reporting Decisions written by Stella Fearnley and published by Wiley. This book was released on 2011-04-18 with total page 0 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.

The Timing of Accounting Restatements

Author : Yuezhu Li
Publisher :
ISBN 13 :
Total Pages : 128 pages
Book Rating : 4.:/5 (1 download)

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Book Synopsis The Timing of Accounting Restatements by : Yuezhu Li

Download or read book The Timing of Accounting Restatements written by Yuezhu Li and published by . This book was released on 2016 with total page 128 pages. Available in PDF, EPUB and Kindle. Book excerpt: Financial disclosure, playing an important role in communicating business situations with external users, is always under strict standards and regulation rules in relation to treatments, contents and presence. Timing of these public announcements then become a popular firms’ disclosure strategy. Using U.S. financial market data over ten years from 2005 to 2015, this study examines the strategic intra-week timing of companies’ restatements disclosure with relation to the news contained. Different from previous studies on highly visible annual earnings announcements or on purely voluntary management forecast announcements, this research uses restatements whose disclosure are mandatory from regulator but the timings are unscheduled. In addition, the market reaction of these restatements in relation to the disclosure timing is examined, showing whether such distraction is a successful strategy in mitigating negative market reactions. This research contributes to both restatements studies and limited attention studies.

Financial statement restatements trends, market impacts, regulatory responses, and remaining challenges.

Author :
Publisher : DIANE Publishing
ISBN 13 : 1428944737
Total Pages : 272 pages
Book Rating : 4.4/5 (289 download)

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Book Synopsis Financial statement restatements trends, market impacts, regulatory responses, and remaining challenges. by :

Download or read book Financial statement restatements trends, market impacts, regulatory responses, and remaining challenges. written by and published by DIANE Publishing. This book was released on with total page 272 pages. Available in PDF, EPUB and Kindle. Book excerpt:

The Routledge Companion to Auditing

Author : David Hay
Publisher : Routledge
ISBN 13 : 1136210350
Total Pages : 387 pages
Book Rating : 4.1/5 (362 download)

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Book Synopsis The Routledge Companion to Auditing by : David Hay

Download or read book The Routledge Companion to Auditing written by David Hay and published by Routledge. This book was released on 2014-09-15 with total page 387 pages. Available in PDF, EPUB and Kindle. Book excerpt: Auditing has been a subject of some controversy, and there have been repeated attempts at reforming its practice globally. This comprehensive companion surveys the state of the discipline, including emerging and cutting-edge trends. It covers the most important and controversial issues, including auditing ethics, auditor independence, social and environmental accounting as well as the future of the field. This handbook is vital reading for legislators, regulators, professionals, commentators, students and researchers involved with auditing and accounting. The collection will also prove an ideal starting place for researchers from other fields looking to break into this vital subject.

Building Public Trust

Author : Samuel A. DiPiazza, Jr.
Publisher : John Wiley & Sons
ISBN 13 : 0471432539
Total Pages : 210 pages
Book Rating : 4.4/5 (714 download)

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Book Synopsis Building Public Trust by : Samuel A. DiPiazza, Jr.

Download or read book Building Public Trust written by Samuel A. DiPiazza, Jr. and published by John Wiley & Sons. This book was released on 2002-09-18 with total page 210 pages. Available in PDF, EPUB and Kindle. Book excerpt: Business reporting in a post-apocalypse global marketplace Clearly, now is the time for creating an effective business-reporting model appropriate for the markets of the twenty-first century. Rather than start from scratch after the Enron-Andersen fiasco, two leading consultants from PricewaterhouseCoopers present a plan that supplements the current model, one in which executives, accountants, analysts, investors, regulators, and other stakeholders can truly embrace the spirit of transparency. The Future of Corporate Reporting highlights the best practices for global financial reporting, explaining the concept of "performance auditing," which focuses on the real performance of the business as opposed to technical adherence to GAAS. Eccles and Masterson also discuss the pros and cons of GAAP v. IAS, present new approaches to reforming financial reporting, and outline a twenty-first-century model of accounting that will improve markets and benefit shareholders.

Research in Accounting Regulation

Author : Gary Previts
Publisher : Elsevier
ISBN 13 : 0080545459
Total Pages : 347 pages
Book Rating : 4.0/5 (85 download)

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Book Synopsis Research in Accounting Regulation by : Gary Previts

Download or read book Research in Accounting Regulation written by Gary Previts and published by Elsevier. This book was released on 2004-09-17 with total page 347 pages. Available in PDF, EPUB and Kindle. Book excerpt: The scope of service provided by professional accountants is influenced by legislation and case law as well as the dictates of a variety of government and private sector agencies: including State Boards of Accountancy, Academic Accreditation Bodies, the United States Securities and Exchange Commission, the Public Company Accounting Oversight Board, independent standard setting bodies such as the Federal Accounting Standards Advisory Board (US), the Financial Accounting Standards Board (US), the International Accounting Standards Board and self-regulatory organizations such as State Societies of CPA and the American Institute of Certified Public Accountants. There are equivalent and emerging local international bodies that exist in most developed countries. It is important for academics, students, practitioners, regulators and researchers to consider, study and understand the role and relationship of such bodies with the practice and content of our discipline. Research in Accounting Regulation is a refereed annual serial that seeks to publish high quality manuscripts, which address regulatory issues and policy affecting the practice of accountancy, broadly defined. Topics of interest include research based on: 1) Self-regulatory activities. 2) Case law and litigation. 3) Governmental and quasi-governmental regulation. 4) The economics of regulation, including modelling. This research series aims to encourage the submission of original empirical, behavioural or applied research manuscripts that consider strategic and policy implications for regulation, regulatory models and markets. It is intended for individual researchers, practitioners, regulators and students of accountancy who desire to increase their understanding of the regulation of accountancy.

UK Financial Statements - Presentation and Disclosure Requirements

Author : Steve Collings
Publisher : Bloomsbury Publishing
ISBN 13 : 1784515361
Total Pages : 789 pages
Book Rating : 4.7/5 (845 download)

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Book Synopsis UK Financial Statements - Presentation and Disclosure Requirements by : Steve Collings

Download or read book UK Financial Statements - Presentation and Disclosure Requirements written by Steve Collings and published by Bloomsbury Publishing. This book was released on 2016-10-28 with total page 789 pages. Available in PDF, EPUB and Kindle. Book excerpt: Accounting standards in the UK and Republic of Ireland are going through a radical change. This book outlines the changes concerned, how they affect companies, what differences exist between the new and the old rules and what practitioners and directors should be aware of in producing financial statements for statutory purposes. To aid this theory, numerous worked examples and illustrative model accounts are included to help preparers understand how these changes should be implemented.Practitioners and preparers of accounts need to be fully versed in the changes to accounting practice and the stumbling blocks to avoid under the new rules. Each chapter contains a 'Pitfalls to avoid' section as well as a 'Chapter summary' to help preparers to understand the key differences. Invariably, if the accounts themselves are incorrect due to a misunderstanding of the new treatments, the resulting tax will be incorrect.UK Financial Statements: Presentation and Disclosure Requirements provides a comprehensive overview of the new reporting regimes in the UK and Republic of Ireland. Written by an expert in UK company financial reporting issues, it includes illustrative financial statements, model disclosures and the structure of the primary statements under new UK GAAP andEU-adopted IFRS. The appendices also contain useful disclosure checklists.The book is ideal for: Practitioners dealing with all types of companies Tax advisers Company directors Students studying for professional examinationsCoverage includes:Introduction;Overview of the revised Companies Act 2006;Summary of new UK GAAP and emerging issues and how to deal with them;Overview of small and micro-entity reporting requirements;Sample micro-entity financial statements;Sample small company financial statements;Sample medium-sized company financial statements;Sample large (unlisted) company financial statements;Sample EU-adopted IFRS financial statements;Abridged and adapted financial statements;Consolidated financial statements - overview of the requirements;Sample consolidated financial statements prepared to UK GAAP;Sample consolidated financial statements prepared to EU-adopted IFRS;Auditing financial statement disclosures.Appendices include: Disclosure checklists for micro-entities, small companies, medium-sized companies, large companies and EU-endorsed IFRS.

Accounting restatement: a European perspective - e-Book

Author : MAFROLLA ELISABETTA
Publisher : G Giappichelli Editore
ISBN 13 : 8892195603
Total Pages : 128 pages
Book Rating : 4.8/5 (921 download)

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Book Synopsis Accounting restatement: a European perspective - e-Book by : MAFROLLA ELISABETTA

Download or read book Accounting restatement: a European perspective - e-Book written by MAFROLLA ELISABETTA and published by G Giappichelli Editore. This book was released on 2021-03-02 with total page 128 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book is motivated by the long-lasting, although still recent, discussion on how to ensure that accounting numbers, while supported by auditors’ favourable opinions, are definitely reliable and eliminate any suspicion that accounting reports could be affected by opportunism, which is documented by the discovery of frequent accounting mistakes. The book analyses and discusses restatements from both the theoretical and the practical perspective, considering the complex environment in which they may occur and focusing particularly on accounting restatements that have affected European corporations for over a decade since the mandatory adoption of the International Financial Reporting Standards.

Determinants of an audit report lag. A meta-analysis

Author : Philipp Wierzchowski
Publisher : GRIN Verlag
ISBN 13 : 3346507475
Total Pages : 28 pages
Book Rating : 4.3/5 (465 download)

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Book Synopsis Determinants of an audit report lag. A meta-analysis by : Philipp Wierzchowski

Download or read book Determinants of an audit report lag. A meta-analysis written by Philipp Wierzchowski and published by GRIN Verlag. This book was released on 2021-10-06 with total page 28 pages. Available in PDF, EPUB and Kindle. Book excerpt: Seminar paper from the year 2020 in the subject Business economics - Information Management, grade: 2,0, University of Bremen, language: English, abstract: This paper shows with the help of a meta-analysis the existence of the determinants of an audit report lag. Moreover this article calculates the relevance of these determinants with the help of Z-scores. The justification of this paper is to get a greater extent of knowledge through a meta-analytic literature review of the determinants of audit report lags. An audit report lag is the number of days from a company’s fiscal year-end to the date of its auditor’s report. Due to the great development of the globalization and economy, this world has more economical data and is more complicated in an economical context than before. Proof for this statement is the subprime crisis 2007, where Asset-Backed Commercial Papers had a complicated transformation. In addition to this the accounting has issues with too much information and complicated financial products. At first accounting has problems with disclosure of information in the financial statement. Secondly Big Data challenges accounting and finally audit report lags are larger after a new standard is set by the standard-setter or a company has a poor performance in this particular fiscal year. In addition to this last problem, there are a lot of more determinants for an audit report lag than these two. Accordingly this audit report lag is a problem for accounting.

Accounting Disclosure and Real Effects

Author : Chandra Kanodia
Publisher : Now Publishers Inc
ISBN 13 : 1601980620
Total Pages : 105 pages
Book Rating : 4.6/5 (19 download)

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Book Synopsis Accounting Disclosure and Real Effects by : Chandra Kanodia

Download or read book Accounting Disclosure and Real Effects written by Chandra Kanodia and published by Now Publishers Inc. This book was released on 2007 with total page 105 pages. Available in PDF, EPUB and Kindle. Book excerpt: Kanodia presents a new approach to the study of accounting measurement that argues that how firms' economic transactions, earnings, and capital flows are measured and reported to the capital markets has substantial effects on the firms' real decisions and on the allocation of resources.

Accounting Irregularities in Financial Statements

Author : Benny K. B. Kwok
Publisher : Gower Publishing, Ltd.
ISBN 13 : 9780566086212
Total Pages : 240 pages
Book Rating : 4.0/5 (862 download)

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Book Synopsis Accounting Irregularities in Financial Statements by : Benny K. B. Kwok

Download or read book Accounting Irregularities in Financial Statements written by Benny K. B. Kwok and published by Gower Publishing, Ltd.. This book was released on 2005 with total page 240 pages. Available in PDF, EPUB and Kindle. Book excerpt: Accounting irregularities are at the heart of those kinds of frauds that hit financial statements and include misstatement, misclassification as well as misrepresentation. This book provides an in-depth practical reference for those professionals who need to understand, prevent and combat against accounting irregularities in financial statements.

Financial Statement Fraud Defined

Author : Zabihollah Rezaee
Publisher : John Wiley & Sons
ISBN 13 : 1118076486
Total Pages : 352 pages
Book Rating : 4.1/5 (18 download)

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Book Synopsis Financial Statement Fraud Defined by : Zabihollah Rezaee

Download or read book Financial Statement Fraud Defined written by Zabihollah Rezaee and published by John Wiley & Sons. This book was released on 2011-03-21 with total page 352 pages. Available in PDF, EPUB and Kindle. Book excerpt: "Financial Statement Fraud: Prevention and Detection, Second Edition is a valuable reference guide for fraud examiners, audit committees, management, and regulators; and for one other important cog in this wheel: the investors who stand to lose everything." —Joseph Wells, founder and Chairman, Association of Certified Fraud Examiners Exceptionally well researched and fully revised, Financial Statement Fraud, Second Edition provides thorough coverage of the nature and extent of financial reporting fraud. Authors and accounting experts Zabihollah Rezaee and Richard Riley describe the most successful methods for preventing, detecting, and controlling incidents of financial reporting fraud and offer reliable guidance from standard-setting organizations such as the PCAOB, AICPA, and the SEC. Real-life case studies of companies guilty of such fraud—and a discussion of the consequences—help illustrate important concepts. Thoroughly updated for today's marketplace, Financial Statement Fraud, Second Edition contains sample reports, examples, and documents that promote a realistic understanding of financial statement fraud and the investigation of fraudulent financial reporting allegations centered on the elements of fraud: the act, the concealment, and the conversion or benefit to the perpetrator. Whether you are a manager, board of director, executive, or auditor, the Second Edition updates you on all the important issues regarding financial statement fraud, including: Auditing standards issued by the PCAOB, technological advances, and globalization SOX- and SEC-related implementation rules The movement toward IFRS and IAAS and the use of the XBRL reporting platform The trend toward reducing the complexity of the financial reporting process Corporate governance reforms in the post-SOX era Antifraud policies, practices, and education for all players in the financial reporting process With practical tools and techniques for carrying out antifraud responsibilities, Financial Statement Fraud, Second Edition is the only resource you will need to identify early warning signs of financial misconduct and a reliable, practical guide to preventing it.