"Big data" and "visual displays" are currently hot topics in accounting. We present a way of depicting weekly financial statement data in a user-friendly format, using the sparkline feature in Excel. By embedding sparklines in traditional income statements, balance sheets and cash flow...

The goal of study is to identify the phenomenon of the manipulation of financial statements in the modern business world and in particular the study of the case of fraud by Folli-Follie, which led to bankruptcy in 2019 in Greece. The manipulation of financial statements and fraud in general in...

Using a dataset covering 3 million commercial borrower financial statements, we document a substantial, nearly monotonic decline in banks’ use of attested financial statements (AFS) in lending over the past two decades. Two market forces help explain this trend. First, technological advances...

This study examines the effect of audit on private firms' cost of debt. We use a sample of 1,949 small private firms operating in the period 2006-2010 with optional financial statement audit. High quality data allows us to construct a more precise interest rate measure than existing studies...

This study investigates the market's response to earnings surprises after first-time going-concern modifications (GCMs). Using a sample of 581 firms and an events-study research design, we document a significant decrease in earnings response coefficients (ERCs) in the quarters following the GCM....

The primary purpose of the current study is to examine the effectiveness of three popular forensic accounting tools to detect financial statement fraud at a real US-listed firm, whose accounting practices were investigated by the US Securities and Exchange Commission (SEC). In this paper, I...

Businesses increasingly outsource organizational functions that have financial reporting implications which requires auditors to adjust their risk assessment and audit procedures for this practice. However, PCAOB inspection reports cite deficiencies indicating that external auditors frequently...

Our study investigates non-SEC practicing certified public accountants' (CPAs) quantitative assessments of the levels of assurance required and achieved in the performance of AICPA standards-based audits and reviews of non-SEC entities. Our results indicate that CPAs believe that the required...

Fraudulent financial reporting is a matter of great social and economic concern. Managers may distort financial statements so as to present their companies more favorably to investors or creditors. On the other hand, auditors are the ones who are expected to identify fraudulent financial...

This article deals with disclosure of associates and joint venture in financial statement. In May 2011 the IASB issued new standard IFRS 12 Disclosure of interest in other entities. This standard, compared with IAS 28 and IAS 31, requires to disclose more detail information about joint ventures...