Climate risk disclosures originated as part of more general sustainability disclosure frameworks but now plays a prominent role in the evolution of mandated sustainability disclosures. This chapter explores the evolution of climate risk disclosure guidance and how it increasingly reflects the...

We investigate the role of currency exposure through multinational firms' operations as a source of mispricing in equity markets. Using information on firms' distribution of sales across geographic segments to construct firm-specific currency baskets, we find a strong correlation between firms'...

Scenario analysis is a well-established management tool for developing and executing organizational strategy. While stress testing (a form of scenario analysis) has been used for policy-making and benchmarking in the banking sector, climate-related scenario analysis is a more recent development....

A Key Audit Matter (KAM) is a matter considered most significant during an audit. Our study examines AC members' response to a draft KAM tabled by auditors at an AC meeting. Drawing on research on cognitive effect we examine whether AC members react differently when a draft KAM is more or less...