I use a sample of 409 companies that restate their earnings in 1997-2001 to examine penalties for outside directors, particularly audit committee members, when their companies experience accounting restatements. Penalties from lawsuits and Securities Exchange Commission (SEC) actions are...

We find that firms are less likely to report an internal control material weakness (as mandated by the Sarbanes-Oxley Act) in a given year if one of their audit committee members is concurrently on the board of a firm that disclosed a material weakness within the prior three years. We find a...

We investigate whether audit committee effectiveness is a significant determinant of the magnitude of sustainability disclosure in the annual reports of a sample of Singapore publicly listed companies during the transition period from a ‘voluntary' to ‘comply or explain' mandated regime. Our...

Audit committee (AC) disclosures are important for stakeholders seeking to evaluate and hold ACs accountable. Despite a wave of heightened attention in the past decade, disclosure changes have tapered off in recent years and are slow to incorporate the AC’s expanding set of oversight...

This paper provides empirical evidence that audit committee independence is associated with economic factors. I find that audit committee independence increases with board size and board independence and decreases with firm's growth opportunities and for firms that report consecutive losses. In...

This paper examines economic consequences of a 2006 Securities and Exchange Commission regulation that mandated public firms to disclose their governance policies on related-party transactions (hereafter RPTs). Employing hand-collected RPT data for S&P 1500 firms, we find that the initiation of...

This study examines the impacts of mandatory adoption of International Financial Reporting Standards (IFRS) and corporate governance on accounting accruals in the UK and Germany. There has been a long debate on whether mandating a single set of high quality accounting standards, i.e. IFRS, leads...

The main objective of this research is to assess whether UK listed companies comply with the U.K code of corporate governance regarding audit committees and disclosure arrangements. The research also aims at testing whether the companies' size and board composition affect the management's...