Introducing International Accounting Standards to an emerging capital market: relative familiarity and language effect in Egypt

Abdelsalam, Omneya; Weetman, Pauline

doi:10.1016/s1061-9518(03)00002-8

Cited by 177 publications

(121 citation statements)

References 39 publications

Supporting

Mentioning

109

Contrasting

Unclassified

Order By: Relevance

“…Although large auditing firms have greater competence to provide high auditing quality, compliance with the applicable auditing standards is not always ensured: in this respect the large firms differ from the small firms. Abd-Elsalam & Weetman (2003) noticed in Egypt that international auditing firms, in most cases, stated that the financial statements were prepared according to the IAS. In many cases, international auditing firms referred to compliance with IAS, but not the ISA.…”

Section: Audit Committees and Auditing Profession In Egyptmentioning

confidence: 99%

Audit Committee Effectiveness, Audit Quality and Earnings Management: An Empirical Study of the Listed Companies in Egypt

Soliman

Ragab²

2013

SSRN Journal

112

101

View full text Add to dashboard Cite

The role of audit committees and audit quality in ensuring the quality of corporate financial reporting has come under considerable scrutiny due to recent high-profile earnings management cases in the world. The purpose of this paper is to examine the association between the audit committee effectiveness, audit quality and earnings management practices of more active 50 Egyptian companies listed on the Egyptian Stock Exchange of the nonfinancial sector during the period 2007-2010. After controlling for size, leverage and cash flow from operation activities, the results of univariate and multivariate analyses indicated that audit committees independence; experience of audit committee members; audit committee meetings; and audit quality have significant negative association with discretionary accruals as a proxy for earnings management. On the other hand, no significant relationship is found between audit committees size and the level of discretionary accruals. This paper is important because it offers useful information that is of great value to policy makers, academics and other stakeholders.

show abstract

Section: Audit Committees and Auditing Profession In Egyptmentioning

confidence: 99%

Audit Committee Effectiveness, Audit Quality and Earnings Management: An Empirical Study of the Listed Companies in Egypt

Soliman

Ragab²

2013

SSRN Journal

112

101

View full text Add to dashboard Cite

show abstract

“…Although large auditing firms have greater competence to provide high auditing quality, compliance with the applicable auditing standards is not always ensured: in this respect the large firms differ from the small firms. References [30] noticed in Egypt that international auditing firms, in most cases, stated that the financial statements were prepared according to the IAS. In many cases, international auditing firms referred to compliance with IAS, but not the ISA.…”

Section: E Audit Committees and Audit Qualitymentioning

confidence: 99%

Corporate Governance Practices and Audit Quality: An Empirical Study of the Listed Companies in Egypt

Soliman

Elsalam

2013

SSRN Journal

View full text Add to dashboard Cite

Abstract-Recent financial international scandals around theworld have led to a number of investigations into the effectiveness of corporate governance practices and audit quality. Although evidence of corporate governance practices and audit quality exists from developed economies, very scanty studies have been conducted in Egypt where corporate governance is just evolving. Therefore, this study provides evidence on the effectiveness of corporate governance practices and audit quality from a developing country. The data for analysis are gathered from the top 50 most active companies in the Egyptian Stock Exchange, covering the three year period 2007-2009. Logistic regression was used in investigating the questions that were raised in the study. Findings from the study show that board independence; CEO duality and audit committees significantly have relationship with audit quality. The results also, indicate that institutional investor and managerial ownership have no significantly relationship with audit quality. Evidence also exist that size of the company; complexity and business leverage are important factors in audit quality for companies quoted on the Egypt Stock Exchange.

show abstract

“…Hofstede (1980) indicates that Arab countries have large power distance, high masculinity and high uncertainty avoidance. However, the Arab countries are different in their accounting systems, for example while Saudi Arabia has its own accounting standards, other Gulf countries including the UAE use US GAAP (Abd-Elsalam and Weetman, 2003). Zeghal and Mhedhbi (2006) argue that developing countries which are affected by Anglo-American culture are more likely to be successful tin adopting IFRS.…”

Section: Accounting In Developing Countriesmentioning

confidence: 99%

The Advantages and the Challenges of Adopting IFRS into UAE Stock Market

Alsaqqa¹,

Sawan²

2013

IJBM

View full text Add to dashboard Cite

This paper aims to assess the benefits gained and the challenges experienced by companies listed on the UAE stock market following the introduction of IFRS. Since the announcement by the European Union to adopt IFRS by listed companies, many countries have followed suit, hoping to gain competitive edge in attracting the Foreign Direct Investment to boost their economic growth. This study focuses on examining the advantages and challenges faced by companies listed on the UAE stock market listed companies as a result of adopting IFRS. The framework used in this analysis will be based on the identification and assessment of key drivers influencing companies listed on the UAE stock market. To what extent are these factors internal or external to the financial sector, but which have a direct bearing on the overall economic environment? The views and perceptions of the Chief Financial Officers' (CFOs) for Dubai and Abu Dhabi listed companies, financial analysts of the financial statements in the two listed companies and auditors will be analysed. Methodology:Questionnaires were used as the main method of data collection. Questionnaire were distributed in both Dubai and Abu Dhabi markets, The data obtained through the questionnaires have been imported into software for analysis, namely, the Statistical Package for the Social Sciences (SPSS). Findings:The results clearly show that the benefits of adopting IFRSs in UAE inevitably far outweigh the difficulties and costs. The findings also reveal that adoption of IFRSs in UAE stock markets has improved the overall standard of the quality of financial reporting, which help in attracting investors to invest in the UAE stock markets. However, many respondents were still apprehensive that effective and professional financial reporting decisions will be affected by the level of education of accounting users, the methods provided by some IFRSs, and the inadequate enforcement mechanisms.

show abstract

Introducing International Accounting Standards to an emerging capital market: relative familiarity and language effect in Egypt

Cited by 177 publications

References 39 publications

Audit Committee Effectiveness, Audit Quality and Earnings Management: An Empirical Study of the Listed Companies in Egypt

Audit Committee Effectiveness, Audit Quality and Earnings Management: An Empirical Study of the Listed Companies in Egypt

Corporate Governance Practices and Audit Quality: An Empirical Study of the Listed Companies in Egypt

The Advantages and the Challenges of Adopting IFRS into UAE Stock Market

Contact Info

Product

Resources

About