Purpose -The purpose of this paper is to assess to what extent the loss of the ISO 9001 certification affects the decertified firms' financial performance.Design/methodology/approach -Using standard event-study methods, this paper matches a sample of 143 Portuguese companies that lost their ISO 9001 certification with similar nonevent counterpart firms (according to return-on-assets and size) and compares the performance of these two groups of firms using financial data collected from the AMADEUS database.Findings -Results show no statistical significant differences in the financial performance (as measured by return-on-assets, return-on-sales, and sales growth) between companies that lost their ISO 9001 certification and their matched firms. Although the literature suggests that certification improves firms' performance and that the benefits of certification may last over long periods of time, this paper's results suggest that, after decertification, companies do not exhibit over or underperformance in their operations vis-à-vis comparable firms that do not undergo the same event.Originality/value -As far as the authors are aware, this is the first study assessing the impact of ISO 9001 certificate withdrawal on the decertified firms' financial performance.

More than one million certified companies must choose, every three years, whether to renew or to withdraw from ISO 9001 certification. This paper investigates whether ISO 9001 decertification decision is driven by economic motivations. Using standard event-study methods, the paper looks into this question by comparing the abnormal performance of a sample of Portuguese firms that lose their certification with that of similar, non-event, firms. The paper finds no statistically significant differences in the economic performance of these two sets of firms in their post-ISO certification period. Such evidence suggests that economic underperformance is not the reason why companies are ISO-decertifying and further suggests that the decision to decertify is economically irrelevant. The study advances possible explanations for this (ir)relevancy and puts forwards implications for theory and for the ISO 9001 governance system. The governance system must change in order to increase the economic benefits that organizations can expect to gain from ISO (re)certification. This is the first study assessing the impact of ISO 9001 certification on firms that subsequently lost the certificate.

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Purpose The purpose of this paper is to discuss the most relevant issues related to the impact of financial restatements in the dynamics of financial markets and identify several research gaps to be investigated in future research. Design/methodology/approach The methodology is based on a systematic review of the literature described by Tranfield et al. (2003). The final sample includes 47 academic papers published from 1996 to 2019. Findings Papers in this domain discuss three main topics: how the market prices the announcement of a financial restatement; how financial restatements affect the announcing firm’s cost of capital and how financial restatements affect firms’ reputation. There are several issues to explore in future research, including whether financial restatements affect the dynamics of financial markets in Europe, whether the market fully and promptly assimilates the information content of a restatement, the role of financial analysts’ information disclosures in this process or how regulators may improve the way they provide investors with timely information about firms’ restating problems. Research limitations/implications There is always some degree of subjectivity in the definition of the keywords, search strings and selection criteria in a systematic review. These are all important aspects, as they delimitate the scope of the study and define the sample of papers to be reviewed. Practical implications The answers to the research questions identified in this paper may provide regulators with information to improve financial accounting and reporting standards and strengthen investors’ confidence in accounting information and the dynamics of financial markets. Originality/value This paper systematically reviews the relevant literature exploring the connection between financial restatements and the dynamics of financial markets. It contributes to the academic community by identifying several research questions that may impact the theory and practice related to accounting quality and capital markets.

A contabilidade de gestão assume um papel cada vez mais relevante na gestão das instituições públicas, face ao contexto económico em que vivemos e à constante preocupação de aplicar eficientemente os dinheiros públicos. O presente artigo apresenta o estudo de caso do desenvolvimento do sistema de contabilidade de gestão na Universidade do Algarve. Este artigo contribui para um melhor entendimento da complexidade inerente à implementação de um sistema de custeio em instituições de ensino superior e apresenta uma solução para a determinação do custo associado aos vários objetos de custeio (custo por aluno, por unidade curricular, projeto de investigação, por prestação de serviços). Esta informação revela-se crucial para o planeamento estratégico, controlo de gestão e tomada de decisão na instituição.Palavras-Chave: contabilidade de gestão; Universidade do Algarve; sistema de custeio; custos indiretos; atividades.