EU gave the opportunity to each Member State to oblige/allow non-listed (i.e. private) companies to use IFRS. Considering a sample of Italian private companies which switched to IFRS in the time span from 2005 to 2008, we compare financial reporting quality between IFRS adopters and a matched...

In the EU, ISA 701 and EU Regulation 537/2014 introduced the mandatory disclosure of Key Audit Matters (KAMs) for Public Interest Entities starting from the end of 2016. Similar regulatory changes have also taken place in other settings, such as the US. The introduction of KAM mandatory...

This paper investigates the impact of the voluntary adoption of International Financial Reporting Standards (IFRS) by unlisted firms on both their financial reporting quality and on their cost of debt. Using a large international sample of unlisted EU companies where the choice of IFRS is...

The strategic choices of family firms are influenced by economic and non-economic reference points. We contend that the preservation of the affect-related values a family derives from its ownership position in a firm (i.e., socio-emotional wealth – SEW) affects financial reporting quality and...