Can IFRS produce global comparability?

I just read the abstract of a forthcoming paper (Kvaal and Nobes 2010) that compares the accounting policies of blue chip companies in the largest five stock markets that use IFRS. By comparing the policy disclosures in annual reports, the authors find “significant evidence that pre-IFRS national practice continues where this is allowed within IFRS.”  [...] Read more > >

Stewardship, Financial Reporting, and Investment

We had a very interesting discussion with Gilles Hilary and Rodrigo Verdi on their paper linking better financial reporting quality to less overinvestment among firms with lots of cash on hand and less underinvestment among firms with lots of leverage.  It sparked a number of questions, so of which I recount here: What specific aspects [...] Read more > >

Economic slowdown and financial reporting complexity

I got an email alerting me to some recent PriceWaterhouseCoopers publications.  Their Transaction Services group appears to be writing a series of papers on Financial Reporting in a Troubled Economy.  One report in particular caught my eye – “How the Economic Slowdown Leads to Added Financial Reporting Complexities.”  An interesting quote is “While financial reporting [...] Read more > >

Round Table Discussion on Earnings Management

On Wednesday, Sept 30th, 11 am ET, we will be joined by Kathy Petroni (Michigan State University). Kathy will be talking about her paper, entitled “CFOs and CEOs:  Who Have the Most Influence on Earnings Management?”  The paper is forthcoming in the Journal of Financial Economics, and is co-authored with John (Xuefeng) Jiang and Isabel [...] Read more > >

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