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International Journal of Accounting and Financial Reporting
Number of Followers: 18

This is an Open Access Journal

Open Access journal
ISSN (Print) 2162-3082
Published by Macrothink Institute

[47 journals]

Evidence on the Impact of Internal Control over Financial Reporting on
Audit Fees
- Authors: Mohamed Gaber, Samy Garas, Edward J. Lusk
  Pages: 1 - 23
  Abstract: Introduction: Circa 1992, the dot.com sector created an irrational stock-trading market where the usual “financial” profiles of: Liquidity, Cash Flow from Operations, and Revenue generation were replaced by Ponzi-esque mayhem. To stabilize the markets, the Public Company Accounting Oversight Board [PCAOB] required a second audit opinion: the COSO Opinion on the adequacy of management’s system of Internal Control over Financial Reporting: [ICoFR].Study Focus: Three COSO-[ICoFR] designations are now required as public information: (i) A “clean” opinion [Is Effective], (ii) Deficiencies are noted, and (iii) Weaknesses reported. Our research interest is to determine, for a panel of randomly selected firms traded on the S&P500 for a eleven-year period: 2005 to 2015, the nature of the effect that the COSO deficiency reporting protocol has on (i) Audit Fees and (ii) the Market Cap of traded firms.Method: To this end we collected, using the Audit Analytics Ô[WRDSÔ] database, various categories of reported Audit Fees and also Market Cap information. This random sample was classified into two sets: the first group: Is Effective SEC 302 Designation and No COSO issues & the second group: Is Not 100% Effective for which there were SEC 302 Deficiencies or Weaknesses noted.Results: Inferential testing indicates that failure to attend to the PCAOB-COSO imperatives results in a relational where there are higher Audit Fees and a slippage of the firm’s Market Cap compared to the Is Effective Group. The PCAOB’s protocol to require the Audit of the firm’s ICoFR system and make that evaluation public information seems to be an excellent corrective “Carrot and Stick”.
  PubDate: 2019-06-25
  DOI: 10.5296/ijafr.v9i3.15001
  Issue No: Vol. 9, No. 3 (2019)
Saudi Football Clubs Privatization Business Model
- Authors: Issam Tlemsani, Saleh Al Sarraf, Bader Alshowaier, Mosaed Alotaibi, Ahmad Al Semari
  Pages: 24 - 33
  Abstract: This research is an attempt to explore possible solutions to the privatization of Saudi football clubs. It examines the business models of legendary internationally renowned football clubs i.e. Barcelona, Arsenal, Manchester City, and Juventus in order to select the best fit business model to implement in the Kingdom of Saudi Arabia. The strategic vision of KSA’s 2030 is to privatize Saudi football clubs and detach them from any government involvement and make them financially independent like other successful international clubs. The purpose of this research is to provide a pathway to facilitate the Saudi Government’s 2030 vision to diversify the Saudi economy, generate income and to establish multiple revenue streams for Saudi football clubs, so they can be fully independent and not rely on any support from the government.In this research, we chose four successful international clubs; and analyze their business model. From there we chose the best fit business model that can be implemented into Saudi football clubs to start confidently when they privatize.
  PubDate: 2019-06-25
  DOI: 10.5296/ijafr.v9i3.14929
  Issue No: Vol. 9, No. 3 (2019)
Impact of the External Audit Quality and Corporate Governance on the
Tunisian Company’ Financial Performance of Before and After the 2011
Revolution
- Authors: Nafti Olfa
  Pages: 34 - 58
  Abstract: The latest financial scandals have challenged the accounting systems adopted and the quality of external audit and corporate governance.The purpose of the study is to analyze the impact of the determinants of the external audit quality and corporate governance on the Tunisian company’s financial performance before and after the 2011 revolution.Using a sample of 31 companies listed on the Tunis Stock Exchange this impact is tested for a period of eight years, divided into two periods. The first period spans from 2007 to 2010, before the revolution, and the second period spans from 2013 to 2016, after the revolution.The results show that after the revolution, a significant relationship exists between the financial performance of the companies and their size and indebtedness, whereas before the revolution, the relationship was significant between financial performance of the companies and the existence of an audit committee and managerial property. The behavior of Tunisian companies changed after the revolution and the 2011 revolution allowed the various parties who were against good governance to negatively affect investor confidence in auditors and the performance of the company. It's a crisis of the crisis.
  PubDate: 2019-06-25
  DOI: 10.5296/ijafr.v9i3.14873
  Issue No: Vol. 9, No. 3 (2019)
Change in Organizational Role Stress is Panacea of HRM Practices: A
Comparative Study of Higher Education Institutions
- Authors: Afroze Nazneen, Inass Salamah Ali
  Pages: 59 - 74
  Abstract: The present study conducted on faculty members of self-financing higher education institutions and government managed higher education institutions. It was aimed to ascertain the levels of organizational role stress and HRM practices, determine the relationships between role stress and HRM practices. Further it aimed at to compare the perception of self-financing institution and government higher education institutions employees on organizational role stress and HRM practices. Sample of present research based on convenient random sampling technique adopted to select 229 respondents from different self-financing institutions and government higher education institutions. Organizational role stress scale and HRM practices scales used to collect the data. The data analyzed by means of descriptive statistics and t- test to compare the groups. The results revealed that role overload appeared the most dominant stressor followed by role ambiguity, role erosion and inter role distance among faculties of self-financing institutions whereas inter role distance and role isolation emerged as the dominant stressors for faculties of government higher education institutions. The faculties of self-financing institutions are reasonably satisfied with team work and performance appraisal systems of HRM practices whereas faculties of government higher education institutions are more satisfied with compensation and participation in decision making dimensions of HRM practices. The results revealed inverse relationships between organizational role stress and HRM practices in all types of institutions. Further results observed that two groups of faculties differed significantly on role stagnation, role erosion, role overload, self-role distance, role ambiguity and resource inadequacy. On the other hand two groups differ significantly on all dimensions of HRM practices. Further results discussed in detail with suitable example.
  PubDate: 2019-06-25
  DOI: 10.5296/ijafr.v9i3.15209
  Issue No: Vol. 9, No. 3 (2019)
Environmental Impact Investing: An Overview
- Authors: Rosella Carè, Riccardo De Lisa
  Pages: 75 - 84
  Abstract: In recent years, environmental and sustainability issues have experienced great interest. Addressing climate change requires the implementation of initiatives that require meaningful upfront capital investment and the development of alternative financing models for projects or initiatives with an environmental objective. In this sense, impact investments are currently used to fund projects and activities that tackle environmental problems. This work discusses new and emerging approaches towards sustainable development by providing a brief overview of the environmental impact investment movement and by focusing on an analysis of the first environmental impact bond (EIB).
  PubDate: 2019-06-25
  DOI: 10.5296/ijafr.v9i3.15045
  Issue No: Vol. 9, No. 3 (2019)