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COVID-19 Impacts on European Audit Opinions

This analysis was originally posted by Audit Analytics.   This post will be updated to reflect the current number of filings citing the COVID-19 pandemic in a going concern opinion, key audit matter, or emphasis of matter.   Overall Statistics As of the week ended 29 May 2020, Audit Analytics has observed the following trends in European audit opinions referencing COVID-191: Going Concern Modifications: 87 Key Audit Matters: 134 Emphasis of Matter: 156 Based on…
Jessica McKeon
Jessica McKeon
6 min read
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2829

First EAA online education workshop

Challenges and Opportunities for On-Line Accounting Education EAA Online Education Workshop (ZOOM) – 2 time options Friday June 19, 2020 – 11.30-13.00 CEST (Brussels time)  FULL Friday June 19, 2020 –  13.30-15.00 CEST (Brussels time)  FULL (see link below)   Agenda: The COVID-19 crisis has created an uncertain teaching environment where on-line education has gained an unprecedented prominence in a very short period of time. It was not planned. It just happened. The idea of…
PHILIP JOOS
PHILIP JOOS
2 min read
0
1103

EAA 2020 Education survey results

I. INTRODUCTION After 42 years of promoting diverse and high quality research, the broader EAA leadership team (at the strategy day of November 7, 2019) expressed a desire to also focus on education, teaching and pedagogical issues. In the EAA member survey conducted in Oct 2019, 565 respondents suggested/ranked services and benefits the EAA could consider. The third ranked among a large set of considerations was “educational materials”. In addition, it was mentioned during the…
PHILIP JOOS
PHILIP JOOS
14 min read
0
829

Special thanks from the VARS team

On behalf of the team, I would like to take this occasion to thank each and all of you, who have been attending our VARS series. It is exciting to have such an interested and engaged audience, and we sincerely hope that you are enjoying the VARS as much as we are. Another big thank you goes to our first four speakers – Stephan Hollander, Carlos Larrinaga, Claudia Imperatore and Victor van Pelt – who…
GIOVANNA MICHELON
GIOVANNA MICHELON
2 min read
0
2185

VARS with Victor van Pelt

We are pleased that our fourth VARS hosted an experimental paper by Victor van Pelt (WHU), co-authored with Bart Dierynck (Tilburg University), Martin Jacob (WHU), Maximilian Mueller (ESMT Berlin) and Christian Peters (Tilburg University). Motivated by recent developments in policies mandating the disclosure of corporate taxed, the paper investigates how these policies affect retail investors’ perceptions on whether firms are paying their “fair share” of taxes. Framed in attribute substitution theory, the paper posits that…
GIOVANNA MICHELON
GIOVANNA MICHELON
2 min read
0
1397

Would political uncertainty shape accounting policies?

In our article recently published in the European Accounting Review, Phong Ngo and I investigate whether and how the uncertainty arising from the political process can influence corporate accounting policies. We focus on the impact of the U.S. gubernatorial elections on managers’ conservative accounting decisions. The extant literature has documented that accounting conservatism, which makes bad news reflected in earnings more timely than good news, can facilitate the contracting process and mitigate agency costs due…
Lili Dai
Lili Dai
3 min read
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2761

The Comprehensive Tax Gain from Leverage

In a recent study, published in the European Accounting Review (EAR), Zhenhua Chen, Padmakumar Sivadasan, and I take a new look at the capital structure implications of taxes. Financial economists have long wondered why many companies fail to take full advantage of the corporate tax benefits from debt. Financial distress and other costs should offset the tax benefits to some degree, but the corporate tax benefits of debt are substantial. This has led many to…
Deen Kemsley
Deen Kemsley
3 min read
0
753

Mandatory Audit Firm Rotation in the FTSE 350

This analysis was originally posted by Audit Analytics. Thirty-four FTSE 350 companies are required to rotate audit firms or conduct a tender process by 2023, according to EU Regulation 537/2014. The intention of mandatory audit firm rotation is to improve audit quality by limiting risks of repeated inaccuracies, encouraging fresh thinking, and strengthening skepticism. EU member states do have the authority to modify these rules to some extent. For example, UK regulation requires that audit firms rotate every…
Jessica McKeon
Jessica McKeon
3 min read
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749

VARS Calendar for June

it is with great pleasure that we announce the following VARS speakers for June 2020   June 5 Chris Chapman  (University of Bristol) Control as Seduction: Gamification at Foursquare June 12 Christine Cooper (University of Edinburgh) Agencification – replacing liberal democracy with neoliberal accountability June 19 Thomas Bourveau  (Columbia University)  Public Company Audits around the Securities Exchange Act June 26 Kirstin Becker (Copenhagen Business School) Constructing Accounting as a Public Policy Issue: The Framing of Fair…
GIOVANNA MICHELON
GIOVANNA MICHELON
< 1 min read
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2147

Evidence-informed accounting standard setting – lessons from corona

This blog post originally appeared on the website of the German accounting research community&nbsp;TRR 266 Accounting for Transparency&nbsp;funded by the German Science Foundation (Deutsche Forschungsgemeinschaft &#8211; DFG). Lots of new accounting research findings are published every year in countless academic journals, on pre-print servers, and as working papers on SSRN. Many of these studies are potentially policy-relevant, i.e., speaking to issues on accounting standard setters&rsquo; agendas. However, even field experts find it difficult to just…
Thorsten Sellhorn
Thorsten Sellhorn
10 min read
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