Insights on how ordinary, less-sophisticated investors interpret and process management-issued pro forma earnings numbers are useful to regulators because of concerns that pro forma disclosures are misleading to ordinary investors. Two recent experimental studies (Frederickson and Miller, 2004...

Insights on how ordinary, less-sophisticated investors interpret and process management-issued pro forma earnings numbers are useful to regulators because of concerns that pro forma disclosures are misleading to ordinary investors. Two recent experimental studies (Frederickson and Miller, 2004...

The complexity and frequent changes of multi-jurisdictional tax requirements generate a demand for a robust supporting information environment. If a firm’s information technology (IT) environment is not able to handle these tax complexities, that inability increases the risk of errors in the...