Choices of financial reporting regimes and techniques and underlying decision-making processes: a case study analysis of a port authority

Gavin Reid, Julia Smith, Yu-Lin Hsu

Research output: Contribution to conferencePaper

Abstract

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.

Conference

ConferenceAccounting Theory and Practice Conference
CountryTaiwan, Province of China
CityTainan
Period3/12/154/12/15

Fingerprint

International Financial Reporting Standards
Decision-making process
Sarbanes-Oxley Act
Financial statements
Financial reporting
Authority
Financial reporting quality
International capital markets
Scandal
Corporate governance
Oversight
Enron
Audit committee
Public accounting firms
Auditing
Accounting standards
Investing
Financing
Globalization
Jurisdiction

Keywords

  • financial reporting
  • case studies
  • port authority

Cite this

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.
Reid, Gavin ; Smith, Julia ; Hsu, Yu-Lin. / 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.
@conference{5815d252cd9e4e218d88f9b774e2d8f6,
title = "Choices of financial reporting regimes and techniques and underlying decision-making processes: a case study analysis of a port authority",
abstract = "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.",
keywords = "financial reporting, case studies, port authority",
author = "Gavin Reid and Julia Smith and Yu-Lin Hsu",
year = "2015",
month = "12",
day = "4",
language = "English",
note = "Accounting Theory and Practice Conference ; Conference date: 03-12-2015 Through 04-12-2015",

}

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, 3/12/15 - 4/12/15, .

Choices of financial reporting regimes and techniques and underlying decision-making processes : a case study analysis of a port authority. / Reid, Gavin; Smith, Julia; Hsu, Yu-Lin.

2015. Paper presented at Accounting Theory and Practice Conference, Tainan, Taiwan, Province of China.

Research output: Contribution to conferencePaper

TY - CONF

T1 - Choices of financial reporting regimes and techniques and underlying decision-making processes

T2 - a case study analysis of a port authority

AU - Reid, Gavin

AU - Smith, Julia

AU - Hsu, Yu-Lin

PY - 2015/12/4

Y1 - 2015/12/4

N2 - 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.

AB - 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.

KW - financial reporting

KW - case studies

KW - port authority

UR - http://ietcap.rsh.ncku.edu.tw/2015ATP/

M3 - Paper

ER -

Reid G, Smith J, Hsu Y-L. Choices of financial reporting regimes and techniques and underlying decision-making processes: a case study analysis of a port authority. 2015. Paper presented at Accounting Theory and Practice Conference, Tainan, Taiwan, Province of China.