Given the tax advantages afforded to nonprofit hospitals, including the ability to issue tax-exempt debt, hospital managers encounter institutional pressure to provide community benefits. When nonprofits issue debt, they also face economic pressure to meet creditors' financial performance...

This study investigates the role that a firm's internal audit function (IAF) plays in the disclosure of material weaknesses reported under Section 404 of the Sarbanes-Oxley Act of 2002 (U.S. Congress 2002). Using data from 214 firms, we examine the relation between material weakness (MW)...