In light of Enron and other financial scandals in the early 2000s, the U.S. Congress enacted “the Sarbanes-Oxley Act” (SOX) to protect public investors. SOX led to the creation of the Public Company Accounting Oversight Board (PCAOB) to monitor public accounting firms and strengthen the function of audit committees to improve corporate governance and financial reporting quality. At the same time as such changes were taking place, the volume and value of investing and financing activities across countries are increasing due to globalization. However, the inconsistent accounting standards used around the world mean that many financial statements are not be comparable. Therefore, the adoption of IFRS can increase the comparability of financial statements internationally, and reduce the related conversion costs. To date, 130 jurisdictions have already adopted IFRS, and the related developments with regard to accounting and auditing will have significant impacts on international capital markets.
|Publication status||Published - 4 Dec 2015|
|Event||Accounting Theory and Practice Conference - Tainan, Taiwan, Province of China|
Duration: 3 Dec 2015 → 4 Dec 2015
|Conference||Accounting Theory and Practice Conference|
|Country||Taiwan, Province of China|
|Period||3/12/15 → 4/12/15|
- financial reporting
- case studies
- port authority
Reid, G., Smith, J., & Hsu, Y-L. (2015). Choices of financial reporting regimes and techniques and underlying decision-making processes: a case study analysis of a port authority. Paper presented at Accounting Theory and Practice Conference, Tainan, Taiwan, Province of China.