<title>Abstract</title> This paper is a response to the critical comments of Alexander (2006) and Nobes (2006) on our article on revenue recognition, which was published last year in this journal (Wüstemann and Kierzek, 2005). While Alexander primarily objects to our statement that there is a 'requirement of...

Recent regulatory initiatives stress that an independent oversight board, rather than the management board, should assume the role of auditors' client. In an experiment, we test whether the type of client affects auditors' independence. Unique features of the German institutional setting enable...

<title>Abstract</title> Since 2002, the FASB and the IASB have been undertaking a joint project on the revision and convergence of US GAAP and IFRS revenue recognition. Even though the outcome of the project is still open, the project's course as well as trends in recently published IFRS and other current IASB...

This chapter analyzes the role of financial accounting in the German financial system. It starts from the common perception that German accounting is rather uninformative. This characterization is appropriate from the perspective of an arms length or outside investor and when confined to the...

With the mandatory introduction of IFRS 7 in 2007 and the succession of IAS 30, there are no more bank-specific accounting rules left within extant IFRS. As IFRS 7 is a product-specific accounting standard dealing with the presentation of all types of financial instruments, the new standard will...