Purpose – The purpose of this paper is twofold. First, it investigates whether high free-cash-flow companies with low-growth opportunities (surplus free cash flow (SFCF)) are associated with income-increasing earnings management. Second, it scrutinizes the effect of audit quality on the...

During the late 1980s, government agencies in many countries began to implement public sector management reforms to improve their efficiency and effectiveness. Many of these reforms were prompted by demands placed on governments for improved uses of public funds. In 2005, the Malaysian...