nep-acc New Economics Papers
on Accounting and Auditing
Issue of 2020‒03‒02
six papers chosen by

  1. What's Driving Dealer Balance Sheet Stagnation? By Michael J. Fleming; Tobias Adrian; Daniel Stackman; Erik Vogt
  2. Les enjeux de la réforme de la comptabilité publique au Maroc By Ibouazzaouine, Youssef
  3. Where Does Multinational Profit Go with Territorial Taxation? Evidence from the UK By Dominika Langenmayr; Li Liu
  4. Fiscal Implications of the Federal Reserve’s Balance Sheet Normalization By Marco Del Negro; Carlo Rosa; Benjamin A. Malin; Jamie Grasing; Michele Cavallo; W. Scott Frame
  5. Canada; Financial Sector Assessment Program-Technical Note-Bank Resolution and Crisis Management By International Monetary Fund
  6. Analyse der wesentlichen Änderungen des IDW QS 1 mit Blick auf die Qualitätssicherung in der Wirtschaftsprüferpraxis: Das Potential von Audit Quality Indicators By Albrado, Christoph; Vollmar, Bernhard

  1. By: Michael J. Fleming; Tobias Adrian; Daniel Stackman; Erik Vogt (Federal Reserve Bank of Philadelphia)
    Abstract: Securities brokers and dealers (?dealers?) engage in the business of trading securities on behalf of their customers and for their own account, and use their balance sheets primarily for trading operations, particularly for market making. Total financial assets of dealers in the United States have not shown any growth since 2009. This stagnation in their balance sheets raises the worry that dealers? market-making capacity could be constrained, adversely affecting market liquidity. In this post, we investigate the stagnation of dealer balance sheets, focusing particularly on the boom and bust of the housing market.
    Keywords: balance sheet growth; security brokers and dealers
    JEL: G2
  2. By: Ibouazzaouine, Youssef
    Abstract: The reform of State accounting and the transition from cash accounting to general accounting based on established rights which provides a heritage view of the State constitutes an essential lever to consolidate the culture of evaluation of the public action. Indeed, the adoption of asset accounting in accordance with international standards (IPSAS), aims to improve the information provided to public actors. It gives parliament, control bodies and citizens an appreciation of public policies, reinforcing the requirements for transparency of public accounts and the reissue of accounts. The purpose of this article is to decipher the challenges of the reform of state accounting and to identify the expected contributions from the adoption of an accounting framework harmonized with IPSAS standards.
    Keywords: State Accounting, Budget Accounting, Accrual Accounting, General Accounting, IPSAS.
    JEL: M4
    Date: 2019–12–11
  3. By: Dominika Langenmayr; Li Liu
    Abstract: In 2009, the United Kingdom abolished the taxation of profits earned abroad and introduced a territorial tax system. Under the territorial system, firms have strong incentives to shift profits abroad. Using a difference-in-differences research design, we show that profits of UK subsidiaries in low-tax countries increased after the reform compared to subsidiaries of non-UK multinationals in the same countries, by an average of 2.1 percentage points. The increase in profit shifting also leads to increases in measured productivity of the foreign affiliates of UK multinationals of between 5 and 9 percent.
    Keywords: profit shifting, territorial tax system, multinational firms
    JEL: H25 H87 F23
    Date: 2020
  4. By: Marco Del Negro; Carlo Rosa; Benjamin A. Malin; Jamie Grasing; Michele Cavallo; W. Scott Frame
    Abstract: In the wake of the global financial crisis, the Federal Reserve dramatically increased the size of its balance sheet?from about $900 billion at the end of 2007 to about $4.5 trillion today. At its September 2017 meeting, the Federal Open Market Committee (FOMC) announced that?effective October 2017?it would initiate the balance sheet normalization program described in the June 2017 addendum to the FOMC?s Policy Normalization Principles and Plans.
    Keywords: Central bank's balance sheet; remittances; monetary policy
    JEL: E5
  5. By: International Monetary Fund
    Abstract: This Technical Note presents the findings and recommendations made in the Financial Sector Assessment Program (FSAP) for Canada in the areas of bank resolution and crisis management. The Technical Note is based on the findings of the mission conducted during October 29–November 14, 2018. The mission had substantive discussions with all the relevant federal authorities, with Autorité des marchés financiers (AMF) in Québec, and with representatives of the Canadian financial sector and of the Canadian legal and accounting professions. At the provincial level, the mission primarily focused on Québec given the existence of a systemically important deposit-taking institution. The mission had access to legal, regulatory, and policy documents, and received comprehensive responses to questionnaires on the subject-matter of this note. The main findings and recommendations are summarized below.
    Date: 2020–01–24
  6. By: Albrado, Christoph; Vollmar, Bernhard
    Date: 2019

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