Determinants of the Strength of Auditing and Reporting Standards: a Cross-Country Study

Boolaky, Pran Krishansing; Krishnamurti, Chandrasekhar; Hoque, Ariful

doi:10.14453/aabfj.v7i4.3

Cited by 28 publications

(46 citation statements)

References 29 publications

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“…Zeghal and Mhedhbi () use similar databases to investigate the determinants of the adoption of international accounting standards in developing countries, whereas Judge et al () focus on IFRS adoption globally. Lastly, Boolaky, Krishnamurti and Hoque () use the same dataset for 2009 to investigate the determinants of the strength of auditing and reporting standards across the globe.…”

Section: Methodsmentioning

confidence: 99%

Adoption of International Standards on Auditing (ISA): Do Institutional Factors Matter?

Boolaky

Soobaroyen²

2016

Int J Auditing

114

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Informed by the neo-institutional perspective, this study seeks for the first time to investigate empirically the determinants of ISA adoption and commitment to harmonisation on a cross-national basis (89 countries). The findings show that the protection of minority interests, regulatory enforcement, lenders/borrowers rights, foreign aid, prevalence of foreign ownership, educational attainment and particular forms of political system (level of democracy) prevailing in a country, are observed to be significant predictors of the extent of commitment to the adoption and harmonisation of ISAs. Our statistical analysis therefore suggests that coercive, mimetic and normative pressure have a significant impact on ISA adoption relative to economic (efficiency-led) factors. Our findings imply that current efforts by the International Federation of Accountants (IFAC) and other international agencies to implement ISAs need to recognise that a broad set of institutional factors, rather than narrow economic ones, are of relevance in the development of audit policymaking, practice and regulation worldwide. , 620, 705. According to the most recent ROSC reports of the countries in this table, the afore-mentioned ISAs are not complied with. It is also identified that the form and content of audit reports did not comply with relevant ISAs. b These countries do not also have a solid quality assurance in place. There is evidence of non-compliance with ISQC 1.

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Section: Methodsmentioning

confidence: 99%

Adoption of International Standards on Auditing (ISA): Do Institutional Factors Matter?

Boolaky

Soobaroyen²

2016

Int J Auditing

114

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“…This study is not the first to explore connections between WEF survey results and accounting environments (Boolaky et al, 2013;Boolaky, 2012;Boolaky and Cooper, 2015). These studies rely on cross-national comparisons of survey results using regression models.…”

Section: Methods/data Descriptionmentioning

confidence: 99%

IFRS Adoption in Developing Countries: What Is the Impact?

Gingrich¹,

Kratz²,

Faraci³

2018

ijafr

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This study explores the impact of mandatory adoption of the International Financial Reporting Standards (IFRS) in developing countries on business leaders’ perceptions of the overall accounting and financial environment. The study employs survey data from the World Economic Forum’s Global Competitiveness Report to gauge business leaders’ perceptions of the accounting and financial environment. Eight countries across Latin America, Africa, and Asia comprise case studies, all of whom recently adopted mandatory IFRS use for publicly listed companies. Each survey variable is tracked over time, comparing pre and post IFRS adoption, vis-à-vis the same variable in a control country that did not adopt IFRS. IFRS adoption shows mostly positive impacts on the accounting environment in four cases. The impact of adoption in the other three countries is mostly insignificant. These results should encourage policymakers in developing countries to improve auditing and enforcement practices to increase the likelihood of positive results from IFRS adoption.

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“…The SARS score is one of the competitive indices of a country and is important to policy makers, investors and regulators. The score varies among the 133 countries, due to a number of factors (Schockaert and Houyoux ; Boolaky et al ; Boolaky ). This study investigates whether the predictors of SARS as identified in Europe (Boolaky ) also influence the SARS in Asia, and if so, to what extent.…”

Section: Comparing Sars With Ifac Isa and Deloitte Ifrs Classificatiomentioning

confidence: 99%

Comparing the Strength of Auditing and Reporting Standards and Investigating their Predictors in Europe and Asia

Boolaky

Cooper

2015

Australian Accounting Review

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The World Economic Forum conducted an opinion survey to determine the strength of auditing and reporting standards (SARS) in 133 countries. It then assigned a score for SARS to each country as one of its global competitive indices. This is a unique dataset on SARS at country level. Using this dataset, this paper compares SARS scores for 72 countries (41 European and 31 Asian). A multi‐phase regression analysis is employed to empirically investigate the predictors of SARS using five sub‐models. Findings from the study support existing theory and add new findings to the auditing and reporting literature at a regional level. It suggests that there are nine predictors of SARS which are similar for both Europe and Asia but with different magnitude. In Asia the efficiency of the legal framework and the size of the foreign export market are also significant predictors of SARS compared to Europe.

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Determinants of the Strength of Auditing and Reporting Standards: a Cross-Country Study

Cited by 28 publications

References 29 publications

Adoption of International Standards on Auditing (ISA): Do Institutional Factors Matter?

Adoption of International Standards on Auditing (ISA): Do Institutional Factors Matter?

IFRS Adoption in Developing Countries: What Is the Impact?

Comparing the Strength of Auditing and Reporting Standards and Investigating their Predictors in Europe and Asia

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