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Internal Control, Financial Reporting, And Corporate Governance Of Smaller Firms, Tian Tian
Internal Control, Financial Reporting, And Corporate Governance Of Smaller Firms, Tian Tian
FIU Electronic Theses and Dissertations
Prior studies have provided mixed evidence of the benefits of integrated audits (i.e., financial statement (FS) audits integrated with audits of internal control over financial reporting (ICFR)) relative to FS-only audits. In section one, I conduct a comprehensive study to understand the implications of integrated audit for FS audit quality with a sample of small firms comprised of small- and non-accelerated filers. Unlike large firms, small firms face less complexity in control environments, and there are other alternative mechanisms that operate (i.e., mandatory FS audit and management certified ICFR effectiveness) to enhance the firms’ internal control quality. Therefore, it is …
The Effect Of Shortened Reporting Lag On The Usefulness Of Form 20-F, Zhenfeng Liu
The Effect Of Shortened Reporting Lag On The Usefulness Of Form 20-F, Zhenfeng Liu
FIU Electronic Theses and Dissertations
This study examines the impact of the Securities and Exchange Commission’s (SEC) decision to accelerate the Form 20-F (20-F) filing deadline on the usefulness of 20-Fs. I find that only the large and medium firms experienced a significant increase in market reaction when they accelerated their 20-F filing deadlines to four months after the year-end, while no significant change in market reaction is detected for small firms. I also find that the market did not appear to have reacted to firms who voluntarily further shortened their 20-F reporting lag to less than four months after the year-end. Finally, I find …