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Non-Financial Disclosure and Corporate Financial Performance Under Directive 2014/95/EU: Evidence from Italian Listed Companies

In the European Union countries, the non-financial disclosure (NFD) of large entities is mandated by law. Specifically, the Directive 2014/95/EU (known as the NFRD) requires large firms to report information covering aspects such as environmental, social, and employee-related matters, respect for human rights, and anti-corruption and bribery concerns. In addition to requiring companies to report information on certain aspects, the NFRD aimed at enhancing disclosure quality. Did this regulation serve its purpose? Mandatory disclosure is assumed to…
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EAA diversity conversations - new event

LGBTQI+ in Accounting: Research, Education & Practice Let’s talk about sex(uality)! Often not spoken about in accounting, diverse sexualities have represented a stigma accountants would often need to conceal within workplaces to avoid being excluded from potential career progression. Current progressive socio-political trends and cultural diversity movements have seen a change in pace as more and more accounting firms move to adopt and promote LGBTQI+ diversity and inclusion initiatives. Join Alessandro Ghio, Nick McGuigan and…
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Analyst Revenue Forecasts and Firm Revenue Misstatements

In a recent study, published in European Accounting Review, Stephanie Hairston and I, examine whether analyst revenue forecasts induce or deter revenue misstatements. Increasingly, analysts provide forecasts of financial items in addition to earnings. Of these forecasts, revenue forecasts are the most common type of forecasts issued in addition to earnings forecasts. The prevalence of revenue forecasts reflects the importance of revenue in capital markets, given that revenues are a key driver of firm value,…
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How changing perceptions and priorities shape corporate reporting

In 2015, Siemens took stakeholders and observers by surprise by drastically reducing the content of their annual report. “Less is more” was their answer to disclosure overload. Taking Siemens as a case study, Kathrin Oberwallner, Christoph Pelger and Thorsten Sellhorn explored the forces and dynamics that shape corporate reporting. They find that internal forces can play an important role for disclosure strategies.   Their paper “Preparers’ Construction of Users’ Information Needs in Corporate Reporting: A…
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Qualitative research interviews using online video technology – challenges and opportunities

Qualitative researchers may struggle to organise face-to-face interviews, because of Covid19-related travel restrictions and budget constraints. Online interviews are a viable alternative. Read all about the opportunities and how to deal with the challenges in the following paper, which is available at https://doi.org/10.1108/MEDAR-03-2021-1252  
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The Effect of Cost Stickiness on Peer-Based Valuation Models

In a recent study, published in European Accounting Review (EAR), Niklas Kreilkamp, Sophie Teichmann and Arnt Wöhrmann examine the effect of cost stickiness on corporate valuation using peer-based valuation.   Peer-based valuation is a popular method —particularly from a practitioner's perspective— to derive an estimate of firm value. This is achieved by multiplying a value indicator (such as the target’s EBITDA) with the corresponding pricing multiple derived from a peer group. It is assumed that…
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Let’s put sustainability back into the sustainability reporting debate

Main points: presents three possible scenarios as to how “sustainability” reporting might develop; the current direction will not facilitate harmonisation or sustainable development; a modification will facilitate both; taking a step back, rethinking and re-engaging would offer more possibilities; includes a link to a video discussion with Sir David Tweedie (ex IASB chair) and Mervyn King (ex GRI and IIRC chair) on these issues. The talk about the ‘alphabet soup’ of reporting frameworks and standards…
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IAASB PUBLIC CONSULTATION OPENS FOR PROPOSED NEW STANDARD FOR AUDITS OF FINANCIAL STATEMENTS OF LESS COMPLEX ENTITIES

New Proposed Stand-Alone Standard to Meet Market Needs Jul 23, 2021 | New York, New York | English Today, the International Auditing and Assurance Standards Board (IAASB) published an exposure draft of its new, stand-alone standard for audits of financial statements of less complex entities. This landmark new draft standard responds to demands to have a set of high-quality requirements tailored for the needs of less complex entities (LCEs). The new standard for audits of financial…
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Gender in the Accounting Profession - announcement

The EAA Virtual Activities Committee is delighted to host a Roundtable Conversation on “Gender in the Accounting Profession”, which will take place on Zoom, on September 22, 2021 at 4.00pm CEST. Registration is now open here. Due to unforeseen circumstances Emily Martin will not be able to participate to the event, but we are happy to announce that Prof. Andrea Romi has accepted to take part to the debate, and will delve into this topic together with…
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EFRAG Calls on the likely developments in financial reporting

EFRAG CALLS FOR AN ACADEMIC STUDY AND ACADEMIC LITERATURE REVIEW ON LONG-TERM VIEW ON THE LIKELY DEVELOPMENTS IN FINANCIAL REPORTING     EFRAG plans to start preliminary research activity on the long-term view on the likely developments in financial reporting.   The proposed research would include a holistic assessment of IFRS Standards (strengths, weaknesses, long-term considerations, topics still to be addressed and European needs and requirements).   In the context of this research activity, EFRAG…