In 1990, the accounting profession and the British government worked together to establish a new regulatory framework for financial reporting in the United Kingdom (UK), the Financial Reporting Council (FRC) and its two subsidiaries, the Accounting Standards Board (ASB) and the Financial Reporting Review Panel (FRRP). The FRRP enforces companies' compliance with the ASB's accounting standards and the accounting provisions of the UK Companies Act. Only one study, Brandt et al. (1997), has examined the activities and effectiveness of the FRRP. This dissertation attempts to extend Brandt et. al (1997) and add to understanding of the origins and regulatory actions of the FRRP.

The aim of this thesis is an evaluation of effectiveness of management in non state and nonprofit sector and confrontation of theoretical knowledge and praxis based on real example of a nonprofit organization. For the evaluation of effectiveness of management I use financial analysis indicators which are modified for the nonprofit sector needs. Throughout the thesis, a series of additional questions, regarding financial sources, financial reporting problematic and report manipulation, is addressed. A considerable sphere of interest are also state interventions, their influence on nonprofit, state-run organizations and financial crisis impact. First part deals with theoretical knowledge gained from scholarly literature regarding key questions of the issues in question. The applied part is opened with the financial analysis methodology, followed by financial analysis of chosen organization itself, which is done on the basis of its financial reports.

Technology helps firms maintain data flow, track processes and maintain employee records. Technology makes it possible for firms to operate efficiently and effectively with minimal manpower and helps to reduce operating costs. Because of its ability to minimize errors and reduce human interventions, technology delivers instant financial reports with accuracy and reliability. Even though findings from the study revealed that the use of technology has a positive influence in financial reporting, system breakdown leads to data loss which has the propensity to hinder stakeholders from receiving timely financial reports. Moreover, findings reveal that audit firms are exposed to information security risk such as virus attacks and hacking of the system.The old way of financial reporting had changed completely in some parts of the world while in other parts it is gradually changing. But how technology is affecting financial reporting processes all over the world and in Liberia specifically. The aim of this thesis is to investigate and analyze the transformation technology has caused to the financial reporting processes. The research question that guided the study was: How has technology influenced financial reporting processes of two international auditing firms in Liberia?In this study, qualitative method and interpretive research approached were used which enable us to gain deeper insights to the research purpose and address our research questions. The primary data was generated from purposive sampling of six semi-structured interviews from preparers of financial reports ranging from managers to senior associate. These participants were used due to their experiences working with technology which enable us to gain an understanding of how technology has transformed financial reporting processes. Financial reporting and technology are widely researched, but in the context of Liberia there is scare literature of how technology has influenced financial reporting in audit firms. Therefore, this study focuses on the preparers of the financial reports of the two international audit firms in Liberia.The aim of this thesis is to investigate and analyze the transformation technology has caused to the financial reporting processes and to investigate how preparers are trained to keep up with the pace of technology. As such, our theoretical framework used was based on the various technology used globally, efficiency and effectiveness, competence and skills, Technology Acceptance Model (TAM), ABC model, financial reporting characteristics and financial reporting qualities.The findings further suggest that technology affects the security of confidential information and quality of the financial information. First and foremost, technology affects a firm’s ability to communicate with stakeholders. In modern business environment, it is necessary for management to communicate to stakeholders quickly and clearly without hindrance.The contributions of this study cannot be overemphasized. The study contributed knowledge on the use of technology in financial reporting. The study serves as a guide to local audit firms, universities and government to include or improve the financial reporting process of institutions

Mike Arce is the owner of a 30-hectare farm in an agricultural area on the coast north of Lima, Peru. He must find a solution to the liquidity problem that arose at the end of 2016 and determine if he has adequate accounting information to make his decision. Students are challenged to review information from an accounting and financial perspective. In the resolution of the case, international rules concerning information to be submitted via financial statements must be considered, especially taking into account the rules concerning agriculture, property/plant and equipment and inventories. This case lends itself to analysis and projection of financial statements and to seeking alternative solutions.

The advent of the internet has provided a new possibility for companies to communicate with their stakeholders and this thesis uses a new institutional sociology perspective to investigate the adoption of Internet Financial Reporting (IFR) in Arab MENA countries (Middle East and North Africa) to: i) evaluate the extent of IFR; and ii) identify the factors that influence Arab MENA listed companies to voluntarily adopt IFR. The study examines the extent of IFR in Arab MENA countries in 2010 using a sample of 1,456 listed companies from the 16 Arab MENA countries that have a stock exchange. To determine the factors that affect listed companies to adopt IFR, 961 listed companies were investigated from ten Arab MENA countries from two regions. Seven factors are investigated; five of which (company size; profitability; leverage; type of auditor; and industrial sector) have been investigated in prior studies; the other two factors, country and region, are also investigated as the effect of a country has been investigated in very few studies; the regional factor has not been investigated at all in prior studies; and hence contributes to our knowledge. The main findings of this thesis indicate that IFR in Arab MENA countries is growing; but listed companies in Gulf Cooperation Council (GCC) countries have the most extensive practice of IFR; North African listed companies are next whereas listed companies located in the Middle East excluding GCC countries have a lower level of IFR than the other two groups. Moreover, the findings reveal that communities of practice have been formed by large profitable companies as well as those audited by the Big-4 audit firms. Further, financial sector companies and companies from the GCC region also appear to have similar practices with more extensive IFR than other listed companies. These communities of practice may be due to coercive, mimetic and normative isomorphism. From a mimetic pressure, arguably, listed companies imitate each other, as for instance, managers of large profitable companies, or financial companies may network and meet together and discuss issues relating to their businesses. Companies within the same country may also be exhibit homogeneous IFR practice for the same reason. Furthermore, companies from one region may be similar to each other because they have similar country characteristics such as political and economic factors. From a normative isomorphic perspective, the Big-4 audit firms may influence companies to adopt IFR across the globe. Further, banks in many countries have separate requirements bringing a coercive influence to bear on their practices.

This study examined the impact of fiscal decentralization on quality financial reporting at the local government level in Ghana. The study is important because it provides development partners with the assurance that Metropolitan, Municipal, and District Assemblies (MMDAs) funds are used for their intended purposes. The study was based on the theory of local public expenditures, which posits that fiscal decentralization may enhance local capacities for service delivery. The key research question examined the extent to which fiscal decentralization has influenced quality financial reporting at the local level. The research design was quantitative, randomly sampling stakeholders in the local government structures including traditional rulers, assembly members, principal spending officers, budget officers, auditors, and accountants (n = 65). Descriptive plots, Pearson chi-square, and multiple regression analysis were used to examine the relationship between the dependent variable of quality financial reporting and the independent variables of expenditure responsibilities, taxation powers, intergovernmental fiscal transfers, and borrowing powers. The results of the analysis revealed taxation powers to be the most significant contributor to quality financial reporting. Quality financial reporting improved internally-generated resources, reduced audit queries, and served as a basis for granting funds to MMDAs. The study recommends that MMDAs be given taxation powers to enable local assemblies to generate more revenue so as to minimize the need for the transfer of funds from development partners and central government. The significant social change implication of this study lies in giving MMDAs control of service delivery at the local level.

With the increasing complexity of banking operations, the demand for extensive disclosure has advanced over the years. In 2007, the International Accounting Standards Board (IASB) has consolidated and expanded disclosure requirements related to financial instruments in IFRS7. Arguably, the adoption of IFRS7 in Europe was met with substantial differences in implementation among countries. Moreover, IFRS7 was launched a few months before the global financial crisis hit Europe. This study examines the level of disclosure according to IFRS7 of 12 banks spread across Europe using their annual accounts from 2007-2010. The banks were chosen on the basis of their market capitalization by the end of 2007. A disclosure index based on IFRS7 was created for this study to evaluate the level of disclosure of the banks. After examining the disclosure level, this paper analyzes if there is a correlation between compliance on disclosure index and bank performance as measured by the Total Shareholder Return. This study aims to find out if a high compliance significantly affects performance in terms of TSR and if it helped banks weather the global financial crisis. The background part provides a broad perspective on disclosure, financial reporting, accounting standards, and IFRS7. It also provides a situation on bank run, and on the recent financial crisis. With the use of secondary data from published accounts of banks, the empirical study presents the disclosure level of banks and TSR performance. The findings suggest that most banks have a selective compliance and moderate fulfillmenton disclosure obligations. Inadequacy is particularly seen in areas where additional disclosure is required by using the implementation guidance of IFRS7. The correlation between compliance and performance is seen to be very minimal which suggests that a high disclosure during a financial crisis does not help prevent huge financial losses.

Nowadays, accounting standards available and employed in the world can be categorized in three difference sources: first of all, International Accounting Standards (IAS)/International Financial Reporting Standards(IFRS) issued by International Accounting Standards Board(IASB); second, U.S. GAAP issued by Financial Accounting Standards Board(FASB);and the last, accounting standards issued by individual country¡¦s accounting standards institution. The global trend is highly developing in international capital markets and multinational businesses operating strategies. As such, the investors in international capital markets have demands eagerly on clear and understandable financial statements for better investment analyses, and decisions. Therefore, a set of internationally-unified accounting principles is necessary in such economic environments. In these years, convergence to or direct adoption of IFRS have been an international hot topic and popularly discussed worldwide, and it seems an irrevocable trend to converge from local accounting principles to IFRS. R.O.C. Financial Supervisory Commission has announced the time schedules and structures of IFRS adoption, and set up several steps for public companies to adopt IFRS starting from 2013. There are still some significant differences existed between R.O.C. accounting principles and IAS/IFRS. Thus, this study was intended to assist Taiwan companies to understand the differences, make decisions on accounting policies while adopting IFRS, and evaluate the influences on financial statements and business operation activities, so that Taiwan companies can converge from ROC GAAP to IFRS with the international trend smoothly and successfully. This thesis contains five chapters. Chapter One is the introduction. Chapter Two is description of accounting organizations and literature, including the development of organization establishing IFRS and the application of IFRS in the world. Chapter Three is the comparison between R.O.C. accounting standards and IFRS, which firstly illustrates the current situation of R.O.C. accounting standards; secondly, compares the concept of IFRS to the R.O.C. accounting standards, and then uses the literature analysis method to identify the differences item by item. Chapter Four is the analysis of impacts and strategies, and various considerations while adopting IFRS. Chapter Five is the conclusion and research suggestion. The conclusion of the thesis includes as below, In the early years, the R.O.C. accounting standards were initially formed based on U.S. GAAP. However, ROC accounting standards are updated or revised based on IFRS gradually while more and more countries adopt IFRS, which contains ¡§principle-based¡¨ accounting standards. Such ¡§principle-based¡¨ standards can avoid specific detailed exception rules under ¡§rule-based¡¨ ones, and it also can reduce the possibility that companies create special arrangements in form to bypass the economic recognition in substance and qualify the standard requirements at the meantime. There are still several differences between IFRS and R.O.C. accounting standards. Therefore, the key point for companies to implement IFRS successfully is to understand the principles and concept structures of IFRS, and to compare the differences between IFRS and R.O.C. accounting standards. Since ROC accounting standards will be converged to IFRS by direct adoption, Taiwanese companies should evaluate the differences of measurement, classification, and disclosure requirements between IFRS and R.O.C. accounting standards. And, companies should prepare well their convergence plans in consideration of possible impacts and management changes, which will be also helpful for local companies to develop global operation strategies.

The announcement made by the Financial Supervisory Commission, Executive Yuan, R.O.C. for roadmap of the adopting International Financial Reporting Standards (hereafter ¡§IFRS¡¨) on May 14, 2009 was a major earthquake to all companies in Taiwan. The first wave of IFRS adoption will hit all listed companies and those companies in the financial services industry in 2013; and the second wave will hit the rest of the public companies in 2015. To most Taiwanese business entities, IFRS is a brand new accounting principle. They don¡¦t have too many ideas on what IFRSs are, how different are IFRSs from Taiwan GAAP, how IFRS can be adopted, or the size of impact IFRSs will have once it is adopted? When facing all these unknown, the public companies in Taiwan, other than to follow the announcements from the regulatory authorities, can resort to no one but their independent auditors for further assistances. Over the past decade, the Big-4 accounting firms have devoted tremendous efforts in research and development activities on the adoption of IFRSs in accordance with the instructions of their global headquarters. Therefore, at the time when Taiwanese public companies are required to adopt IFRS in accordance with the roadmap, the service opportunities in Taiwan are monopolized by the Big-4 firms, leaving the medium and small practices in Taiwan a competitive disadvantage for entering the market because their resources are very limited. Therefore, it is the goal of this thesis to research and explore the strategies smaller firms may adopt, with limited resources on hand, to expand the service opportunities in the upcoming IFRS era.

Zugl.: Erlangen, Nürnberg, Univ., Diss., 2009