Financial accounting shall enable effective monitoring and control but can itself be subject to self-serving behavior by management, i.e., earnings management. Value-based management (VBM) systems are employed to counteract self-serving managerial behavior in general, as they shall mitigate...

Key audit matters (KAM) are supposed to enhance the informational value of the audit report. Since the audit report is the primary communication channel between the auditor and the financial statement users, understanding the determinants of KAM disclosure is crucial. Our cross-country study...