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 conferencePaperpeer-review

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.
Original languageEnglish
Publication statusPublished - 4 Dec 2015
EventAccounting Theory and Practice Conference - Tainan, Taiwan, Province of China
Duration: 3 Dec 20154 Dec 2015

Conference

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

Keywords

  • financial reporting
  • case studies
  • port authority

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