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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,…
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Short Selling: A Review of the Literature and Implications for Future Research

Our article accepted for publication in the European Accounting Review (EAR) special issue on literature reviews in accounting provides a systematic review of short selling literature on its information intermediary roles and its influence on accounting, auditing, and other corporate decisions. Our review also identifies some gaps in the short-selling literature and highlights a few inherent challenges that researchers face in their research designs.   Short sales occur for a myriad of reasons that roughly…
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COVID-19 Impacts on European Audit Opinions

This post was orginally 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 18 September 2020, Audit Analytics has observed the following trends in European audit opinions referencing COVID-191: Going Concern Modifications: 154 Emphasis of Matter: 273 Key Audit Matters: 465 Based on company…
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Who Audits Public Companies – Market Share in France

This analysis was originally posted by Audit Analytics. Deloitte, EY, KPMG, and PwC collectively hold just 57% of the overall market share among the top indexes in France. This is a vastly different picture than we saw when looking at Germany, where the Big Four holds 91% of the market share. The difference, however, can be attributed to France’s joint audit system. As mentioned in a previous post, we’ll take a look at the auditor market…
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How does one control change lead to another?

Organizations are frequently confronted with environmental shifts and change. In our recent publication (Toldbod and Van der Kolk, forthcoming in the European Accounting Review), we examine how environmental shifts can trigger cascades of management control changes, how this creates incoherence, and how managers can use the incoherence to stimulate organizational dialogue. Our study provides insights into the interplay of management control elements and control changes, and mobilizes notions from the organizational ecology literature to theorize our findings.…