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on Accounting and Auditing |
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Issue of 2021‒04‒19
eight papers chosen by |
| By: | Kencanasari, Fidelia Rahayu |
| Abstract: | The condition of the world economy in 2018 tended to be sluggish and unbalanced and was followed by uncertainty in world finances which were still high. The disturbance is expected to occur until now (2020). Indonesian business people are urged to continue to make reforms, innovations and create diversification in order to survive in the market. The implementation of quality Good Corporate Governance (GCG) enables the creation of added value for stakeholders, and in turn will create sustainable business success (Effendi 2009). Basically, GCG is a set of rules that govern, manage and oversee the relationship between company managers and stakeholders in the company in an effort to increase company value and market valuation.The implementation of GCG in companies is proven to be able to increase company value, market value, cultural value, information disclosure, audit system effectiveness, and risk control. Maximization of benefits can be obtained if governance runs well and is always in line with compliance and conformity to ethics and norms. |
| Date: | 2021–03–27 |
| URL: | http://d.repec.org/n?u=RePEc:osf:osfxxx:p9t34&r=all |
| By: | Alain Burlaud (CNAM - Conservatoire National des Arts et Métiers [CNAM], LIRSA - Laboratoire interdisciplinaire de recherche en sciences de l'action - CNAM - Conservatoire National des Arts et Métiers [CNAM]) |
| Abstract: | Accounting is a mirror of society and therefore reflects the shock of the financialization and globalization of the economy. From 1970 to 2000, international accounting standards were based on three standards: the American, which, like the dollar, could in fact become hegemonic, European and global but of private origin, the IASC. In the 2000s, the IASB, which succeeded the IASC, asserted its power, especially with the adoption of its standards, IFRS, by the European Union. After this victory, the IASB now faces two new challenges: how to develop global standards for SMEs when they do not have access to the capital market; how to account for the non-financial dimensions of corporate performance when all dimensions are interdependent and, beyond investors, of interest to all stakeholders. |
| Keywords: | accounting,financialization,globalization,standardization |
| Date: | 2020–02 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:halshs-03161123&r=all |
| By: | David Szakonyi (George Washington University) |
| Abstract: | Cracking down on corruption has become a key tool for politicians to build popular support. But little is known about whether anti-corruption measures actually change political behavior. This paper evaluates the effects of a common reform -- financial disclosures -- using data on 25,724 elections in Putin-era Russia. I argue that financial disclosures function like a personal audit, generating information for journalists and prosecutors to investigate illicit gains earned inside and outside of government. Exploiting staggered elections, I find that the passage of a disclosures requirement led to roughly 25% fewer incumbents seeking re-election and 10% fewer candidates with suspicious financial histories. Greater media freedom and law enforcement capacity further increase the risk of corruption and tax evasion being exposed, resulting in even fewer candidacies from those criminally exposed. Increasing transparency changes the incentives for serving in elected office, even in settings where other political motives may be at play. |
| Keywords: | corruption; anti-corruption; Russia; reforms; elections |
| JEL: | D7 H40 D73 |
| Date: | 2020 |
| URL: | http://d.repec.org/n?u=RePEc:gwi:wpaper:2020-21&r=all |
| By: | Gaëlle Lenormand (UR1 - Université de Rennes 1 - UNIV-RENNES - Université de Rennes, CREM - Centre de recherche en économie et management - UNICAEN - Université de Caen Normandie - NU - Normandie Université - UR1 - Université de Rennes 1 - UNIV-RENNES - Université de Rennes - CNRS - Centre National de la Recherche Scientifique); Lionel Touchais (UR1 - Université de Rennes 1 - UNIV-RENNES - Université de Rennes, CREM - Centre de recherche en économie et management - UNICAEN - Université de Caen Normandie - NU - Normandie Université - UR1 - Université de Rennes 1 - UNIV-RENNES - Université de Rennes - CNRS - Centre National de la Recherche Scientifique) |
| Abstract: | Purpose: This article analyzes the effect of International Financial Reporting Standard (IFRS) 8 on the informational content of segment data. It aims to assess the change in quality of the financial analysts' and the shareholders' information environment due to the new segment reporting standard to verify the International Accounting Standards Board's (IASB) expectations and the conclusions of its post-implementation review. Design / methodology / approach: Based on a sample of 250 companies listed on Euronext Paris in France, a country with poor legal protection for shareholders, over a nine-year period, the authors test whether the new standard makes the financial analysts' forecasts more accurate and reduces the implied cost of equity capital. Findings: The findings show that IFRS 8 partially improves the informational content of segment data, partially supporting the outcome of IASB. The management approach may have forced some firms to change their segmentation to provide a more economic view of the business. The poor legal protection for shareholders in France may explain this result. Research limitations / implications: Due to proprietary and agency costs, firms may withhold segment information whatever the standard used. Practical implications: This study contributes to the ongoing debate about IFRS 8 and may interest financial statement users and the international standard-setter for such a criticized standard. Originality / value: The results contribute to the segment reporting literature by addressing the partial improvement of information environment under the managerial approach in a country with lower investor protection. |
| Keywords: | IFRS 8,segment reporting,information environment,financial analysts' forecasts,cost of equity capital Paper type -Research paper |
| Date: | 2021–01–15 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:hal-03123906&r=all |
| By: | Cristina Cirillo (Ministry of Economy and Finance); Lucia Imperioli (Ministry of Economy and Finance); Marco Manzo (Ministry of Economy and Finance) |
| Abstract: | This paper describes the VATSIM-DF (II), a non-behavioural microsimulation model on the Value Added Tax (VAT), recently developed to support policy makers in designing VAT related policies in Italy. The most important goals of VATSIM-DF (II) are to estimate actual and expected VAT revenues, assess the VAT incidence on household disposable income, and simulate the distributional effects of changes in fiscal policies. Our results for 2019, at current VAT legislation, confirm the regressivity of VAT with respect to household income. Compared to existing models, the VATSIM-DF (II) has the great advantage of using Tax Register and National Accounts data, which make our model ideal for microsimulation purposes and perfectly consistent with the most updated macroeconomic data. To develop VATSIM-DF (II), we produce an original dataset by merging different data sources. Results for 2019, at current VAT legislation, show the VAT burden on Italian households and confirm the regressivity of VAT. Finally, we test the distributional effect of a revenue neutral reform, with two VAT rates, which applies the reduced VAT rate also to female and babies sanitary products. |
| Keywords: | redistributive effects, simulation, taxation, Value Added Tax |
| JEL: | H2 H22 H23 |
| Date: | 2021–03 |
| URL: | http://d.repec.org/n?u=RePEc:ahg:wpaper:wp2021-12&r=all |
| By: | Mikael Khan; Olga Bilyk; Matthew Ackman |
| Abstract: | Exceptional strength in the housing market during the pandemic is underpinning Canada’s economic recovery. However, two key vulnerabilities—housing market imbalances and elevated household indebtedness—have intensified. |
| Keywords: | Coronavirus disease (COVID-19); Credit and credit aggregates; Financial stability; Housing; Recent economic and financial developments; Sectoral balance sheet |
| JEL: | D14 D8 D84 E5 G2 G21 G28 R2 R21 |
| Date: | 2021–04 |
| URL: | http://d.repec.org/n?u=RePEc:bca:bocsan:21-4&r=all |
| By: | fadhilah, nisrina hasna |
| Abstract: | The implementation of GCG in companies proves to be able to increase company value, market value, culture value, the openness of information, effec-tiveness of the audit system, and risk control. Profit maximization can be obtained if the governance runs well and is always in line with the compliance and suitability of ethics and norms. The economic disruption left corporate leaders with very difficult challenges. Leaders must strive to be more adaptive in facing a future full of volatility, uncertainty, complexity, and ambiguity (VUCA), including being able to present a positive aura for all employees. |
| Date: | 2021–03–28 |
| URL: | http://d.repec.org/n?u=RePEc:osf:osfxxx:ud63n&r=all |
| By: | Petr Jansky (Institute of Economic Studies, Faculty of Social Sciences, Charles University, Prague, Czech Republic); Alex Cobham (Tax Justice Network); Tommaso Faccio (Independent Commission for the Reform of International Corporate Taxation, Nottingham University Business School); Javier Garcia-Bernardo (Tax Justice Network, CORPTAX, Charles University in Prague); Jeffery Kadet (Lancaster University UK, International Centre for Tax and Development); Sol Picciotto (University of Washington School of Law in Seattle) |
| Abstract: | An initiative is needed to break the logjam in the international negotiations to reform taxation of multinational enterprises (MNEs). The explosion of profit shifting observed since the 1990s has resulted in hundreds of billions of dollars of tax revenues being lost around the world each year – but reform efforts have thus far failed to deliver measurable progress on the primary agreed goal of better aligning MNEs’ taxable profits with the location of their real economic activity. More recently, countries have committed also to ensure that MNEs’ global profits are subject to a minimum effective tax rate, but progress towards international agreement remains stalled. Our proposal for a minimum effective tax rate (METR) could be applied to MNEs by any countries that choose to do so, whether they are home to MNEs, host of MNEs, or both. The METR would be compatible with existing tax treaties, but being non-discriminatory it also complies with other international obligations and could be introduced unilaterally. Economic modelling shows the METR would deliver major revenue gains for participating countries, and adoption would also contribute to, rather than impede, momentum for a more comprehensive multilateral agreement. |
| Keywords: | multinational enterprise; corporate taxation; tax reform; effective tax rate; minimum tax; minimum effective tax rate |
| JEL: | F23 H25 H32 |
| Date: | 2021–04 |
| URL: | http://d.repec.org/n?u=RePEc:fau:wpaper:wp2021_08&r=all |