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Taxes, Liabilities Among Common Reasons for Financial Restatements in Europe

This analysis was originally posted by Audit Analytics.   Audit Analytics recently released the Europe Financial Restatements database, consisting of financial restatements for accounting errors due to accounting rule misapplications, clerical issues, and fraud. Collected from English language press releases, annual reports, and interim reports issued between January 2018 and September 2020, the population listed on regulated exchanges contains 355 individual restatements and represents companies headquartered in 41 different countries. The top five countries represented in…
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Virtual research workshop: IASB’s Business Combinations – Disclosures, Goodwill and Impairment Discussion Paper

The International Accounting Standards Board (IASB) in conjunction with the European Accounting Association (EAA) will hold a virtual research workshop on 30 October 2020 at 12.00-14.00 (CET). The seminar will provide an overview of the IASB’s Business Combinations – Disclosures, Goodwill and Impairment Discussion Paper (DP) and relevant academic literature. The proposals in this project aim to improve the information companies provide to investors, at a reasonable cost, about the acquisitions those companies make. The…
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INTERNATIONAL ACCOUNTING RESEARCH WEBINAR SERIES - AAA

  You are invited by the International Accounting Section of the American Accounting Association to participate in a research webinar series focusing on International Accounting Research.   Tuesday, November 3rd: 7:00 pm-8:00 pm, Eastern (Midnight-1:00 am, November 4th, GMT) Presenter: C. S. Agnes Cheng – The Hong Kong Polytechnic University Moderator: Helen Kang, UNSW Business School To register in advance for the November 3rd webinar: CLICK HERE   Tuesday, November 17th: 9:00 am-10:00 am, Eastern (2:00 pm-3:00 pm, GMT)…
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Time estimation errors in costing systems

Sophie Maussen & Sophie Hoozée (Ghent University) In a recent article, published in the European Accounting Review, we experimentally studied the joint impact of task interruption and interactive time estimation on the accuracy of time estimates. Employee estimates of task duration constitute an important element of many organizations’ costing systems. As time estimates are subject to estimation error, they may be a source of measurement error, and, subsequently, result in distortions in product and service…
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Update from the EAA Stakeholder Reporting Committee – Responses to the GRI Universal and Sector Standards Project

Posted by Charles Cho and Ian Thomson, on behalf of the EAA Stakeholder Reporting Committee (EAA SRC) In March 2019 the Global Sustainability Standards Board of the Global Reporting Initiative initiated a review of universal and sector (oil, gas and coal) standards project. The public comment and consultation period seeking input on each first exposure drafts was June-September 2020 and July-October 2020 for the universal standards and oil and gas sector standards, respectively. The EAA…
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Open letter to the Chair of the IFRS Foundation Trustees

Last week, under the initiative and leadership of Carol Adams, Professors of Accounting conducting research in the field of sustainability accounting and reporting and Editors of accounting journals that publish this research wrote to the Chair of the IFRS Foundation Trustees in light of the IFRS Foundation’s Consultation Paper on Sustainability Reporting. As a signatory, I am reproducing the letter on this blog (also attached as PDF and available online here as well). * Note…
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Photographs May Undermine Efforts by Accounting Firms to Portray Diversity and Inclusion

Posted on behalf of Merridee Bujaki   Online recruitment documents can function as a vehicle for organizations to reflect their values and present themselves as inclusive. When it comes to interpreting photographs in online recruitment documents, however, organizations need to be aware multiple interpretations of their photographs may be possible. These interpretations may conflict with efforts to convey diversity and inclusion. In a study recently published in the European Accounting Review, Sylvain Durocher, François Brouard,…
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Exploring the Role of Management Control Anchor Practices in new Product Development

Martin Carlsson-Wall, Lukas Goretzki, Kalle Kraus & Johnny Lind (Stockholm School of Economics)   New product development (NPD) is a key activity for organizations to successfully compete and grow because a large amount of the total product cost is determined already during this particular stage. There is hence a lot of pressure on companies to properly manage the NPD process which is also why they usually employ various types of management controls. Researchers have demonstrated…
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Update from the EAA Stakeholder Reporting Committee (formerly Corporate Reporting Committee)

Posted by Ricardo Stachezzini and Laura Girella, on behalf of the EAA Stakeholder Reporting Committee (SRC) In May 2020 the IIRC launched a 90-days consultation process aimed to collect feedbacks and suggestions to inform the revision of  the International <IR> Framework (originally launched in December 2013) (https://integratedreporting.org/2020revision/). The SRC submitted its response to the issues raised therein and attached here. The IIRC consultation is structured as follows. A first set of questions (i.e. Q. 1-10)…
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Leveraging the European Restatements Database

This analysis was originally posted by Audit Analytics. Audit Analytics recently released the European Financial Restatements database, filling a void in stakeholders’ ability to easily analyze restatements in context of the overall global market. The database contains 350 restatements from nearly 300 public companies listed on regulated exchanges in the EEA, UK and Switzerland1 since 2018 and provides three unique methods of analyzing data: Restatements by issue Positive / Negative impact Duration of restatement period Using this database,…