An investigation of the integrity of Internet financial reporting

Since the mid 1990s, large companies have increasingly used the Internet to disclose business and financial information. Internet technology is regularly claimed to facilitate greater relevance and timeliness of business information. The integrity of information disclosed on corporate websites has, however, been subject to comparatively little scrutiny. This study focuses on the integrity of Internet Financial Reporting (IFR) by reference to the adequacy of underlying corporate governance procedures. Using a sample of 100 large European companies, a questionnaire survey was used to identify whether or not governance procedures that specifically address the distinguishing features of web-based financial reporting are used by large companies. The results confirm the trend identified in prior research of increasing Internet usage to replicate paper-based financial information. Responses to the questionnaire also suggest that concerns about the integrity of IFR are justified. Erroneous assumptions and assertions by respondents regarding the security of IFR, in addition to knowledge of work undertaken by external auditors indicate limited engagement with IFR by management of large European companies. The conclusion of this study is that the governance framework surrounding IFR has received insufficient managerial attention.Desde mediados de los 90s, grandes empresas usan cada vez más internet para revelar su información de negocios y financiera. Internet se considera regularmente como una forma de facilitar una mayor relevancia y oportunidad de información comercial. Sin embargo, la integridad de la información revelada en las páginas webs corporativas ha sido sujeto de comparativamente escasos exámenes. Este estudio se centra en la integridad de Internet Financial Reporting (IFR) – información financiera en Internet – haciendo referencia a la adecuación de procedimientos subyacentes de dirección de empresas. Con una muestra de 100 grandes compañías europeas, se utilizó un cuestionario de encuestas para identificar si estos procedimientos de dirección que tratan específicamente las características distintivas de la información financiera en las páginas webs se usan por parte de las compañías. Los resultados confirman la tendencia identificada en una investigación previa, sobre el aumento del uso de internet para repetir información financiera en papel. Además, las respuestas al cuestionario sugieren también que las preocupaciones sobre la integridad del IFR están justificadas. Las suposiciones y afirmaciones erróneas por encuestados en cuanto a la seguridad del IFR, además del conocimiento sobre el trabajo llevado a cabo por auditores externos, indican un compromiso limitado con IFR por parte de la dirección de grandes empresas europeas. La conclusión de este estudio, es que el marco de dirección alrededor del IFR ha recibido insuficiente atención gerencial

Accountancy and academic/professional inter-dependency (or mutual exclusivity?)

This paper is a report on an Accounting Education Symposium held during the 2009 Annual Congress of the EAA in Tampere, Finland. This was the fourth occasion on which there has been an Accounting Education Symposium (or similar) within an EAA Annual Congress. Previous events were as follows: 2005 (Gotenburg, Sweden) EAA Accounting Educators\u27 Forum 2006 (Dublin, Ireland) \u27Universities and Professional Bodies: Complementary or Colliding Roles in Educating and Training Future Accounting Practitioners?\u27 (sponsored by the Irish Accountancy Educational Trust) 2008 (Rotterdam, the Netherlands) \u27Accounting Education: The Common Content Project\u27 (sponsored by Royal NIVRA). <br /

Prioritization of knowledge-needs to achieve best practices for bottom trawling in relation to seabed habitats

Management and technical approaches that achieve a sustainable level of fish production while at the same time minimizing or limiting the wider ecological effects caused through fishing gear contact with the seabed might be considered to be ‘best practice’. To identify future knowledge-needs that would help to support a transition towards the adoption of best practices for trawling, a prioritization exercise was undertaken with a group of 39 practitioners from the seafood industry and management, and 13 research scientists who have an active research interest in bottom-trawl and dredge fisheries. A list of 108 knowledge-needs related to trawl and dredge fisheries was developed in conjunction with an ‘expert task force’. The long list was further refined through a three stage process of voting and scoring, including discussions of each knowledge-need. The top 25 knowledge-needs are presented, as scored separately by practitioners and scientists. There was considerable consistency in the priorities identified by these two groups. The top priority knowledge-need to improve current understanding on the distribution and extent of different habitat types also reinforced the concomitant need for the provision and access to data on the spatial and temporal distribution of all forms of towed bottom-fishing activities. Many of the other top 25 knowledge-needs concerned the evaluation of different management approaches or implementation of different fishing practices, particularly those that explore trade-offs between effects of bottom trawling on biodiversity and ecosystem services and the benefits of fish production as food.Fil: Kaiser, Michel J.. Bangor University; Reino UnidoFil: Hilborn, Ray. University of Washington; Estados UnidosFil: Jennings, Simon. Fisheries and Aquaculture Science; Reino UnidoFil: Amaroso, Ricky. University of Washington; Estados UnidosFil: Andersen, Michael. Danish Fishermen; DinamarcaFil: Balliet, Kris. Sustainable Fisheries Partnership; Estados UnidosFil: Barratt, Eric. Sanford Limited; Nueva ZelandaFil: Bergstad, Odd A. Institute of Marine Research; NoruegaFil: Bishop, Stephen. Independent Fisheries Ltd; Nueva ZelandaFil: Bostrom, Jodi L. Marine Stewardship Council; Reino UnidoFil: Boyd, Catherine. Clearwater Seafoods; CanadáFil: Bruce, Eduardo A. Friosur S.A.; ChileFil: Burden, Merrick. Marine Conservation Alliance; Estados UnidosFil: Carey, Chris. Independent Fisheries Ltd.; Estados UnidosFil: Clermont, Jason. New England Aquarium; Estados UnidosFil: Collie, Jeremy S. University of Rhode Island,; Estados UnidosFil: Delahunty, Antony. National Federation of Fishermen; Reino UnidoFil: Dixon, Jacqui. Pacific Andes International Holdings Limited; ChinaFil: Eayrs, Steve. Gulf of Maine Research Institute; Estados UnidosFil: Edwards, Nigel. Seachill Ltd.; Reino UnidoFil: Fujita, Rod. Environmental Defense Fund; Reino UnidoFil: Gauvin, John. Alaska Seafood Cooperative; Estados UnidosFil: Gleason, Mary. The Nature Conservancy; Estados UnidosFil: Harris, Brad. Alaska Pacific University; Estados UnidosFil: He, Pingguo. University of Massachusetts Dartmouth; Estados UnidosFil: Hiddink, Jan G. Bangor University; Reino UnidoFil: Hughes, Kathryn M. Bangor University; Reino UnidoFil: Inostroza, Mario. EMDEPES; ChileFil: Kenny, Andrew. Fisheries and Aquaculture Science; Reino UnidoFil: Kritzer, Jake. Environmental Defense Fund; Estados UnidosFil: Kuntzsch, Volker. Sanford Limited; Estados UnidosFil: Lasta, Mario. Diag. Montegrande N° 7078. Mar del Plata; ArgentinaFil: Lopez, Ivan. Confederacion Española de Pesca; EspañaFil: Loveridge, Craig. South Pacific Regional Fisheries Management Organisation; Nueva ZelandaFil: Lynch, Don. Gorton; Estados UnidosFil: Masters, Jim. Marine Conservation Society; Reino UnidoFil: Mazor, Tessa. CSIRO Marine and Atmospheric Research; AustraliaFil: McConnaughey, Robert A. US National Marine Fisheries Service; Estados UnidosFil: Moenne, Marcel. Pacificblu; ChileFil: Francis. Marine Scotland Science; Reino UnidoFil: Nimick, Aileen M. Alaska Pacific University; Estados UnidosFil: Olsen, Alex. A. Espersen; DinamarcaFil: Parker, David. Young; Reino UnidoFil: Parma, Ana María. Consejo Nacional de Investigaciones Científicas y Técnicas. Centro Nacional Patagónico; ArgentinaFil: Penney, Christine. Clearwater Seafoods; CanadáFil: Pierce, David. Massachusetts Division of Marine Fisheries; Estados UnidosFil: Pitcher, Roland. CSIRO Marine and Atmospheric Research; AustraliaFil: Pol, Michael. Massachusetts Division of Marine Fisheries; Estados UnidosFil: Richardson, Ed. Pollock Conservation Cooperative; Estados UnidosFil: Rijnsdorp, Adriaan D. Wageningen IMARES; Países BajosFil: Rilatt, Simon. A. Espersen; DinamarcaFil: Rodmell, Dale P. National Federation of Fishermen's Organisations; Reino UnidoFil: Rose, Craig. FishNext Research; Estados UnidosFil: Sethi, Suresh A. Alaska Pacific University; Estados UnidosFil: Short, Katherine. F.L.O.W. Collaborative; Nueva ZelandaFil: Suuronen, Petri. Fisheries and Aquaculture Department; ItaliaFil: Taylor, Erin. New England Aquarium; Estados UnidosFil: Wallace, Scott. The David Suzuki Foundation; CanadáFil: Webb, Lisa. Gorton's Inc.; Estados UnidosFil: Wickham, Eric. Unit four –1957 McNicoll Avenue; CanadáFil: Wilding, Sam R. Monterey Bay Aquarium; Estados UnidosFil: Wilson, Ashley. Department for Environment; Reino UnidoFil: Winger, Paul. Memorial University Of Newfoundland; CanadáFil: Sutherland, William J. University of Cambridge; Reino Unid

The relationship between accounting and taxation in the Republic of Ireland

Accounting profits form the basis on which Republic of Ireland tax liabilities are computed. For tax purposes these profits are adjusted to reflect the tax regulations which differ from accounting rules determining profit calculation. Fiscal policy can dictate treatment other than generally accepted accounting practice for certain transactions. Deferred tax provisions are used to match the tax charge in accounts with reported profits. Despite the independence of tax and accounting regulations, changes in accounting regulations are often complicated by the existence of tax implications. Equally, the tax authorities have in the past accepted changes in accounting treatment without penalty.

Irish Published Accounts under Scrutiny

Published accounts are subject to more scrutiny than ever before due to increased interest in, and understanding of, accounting issues by financial analysts, business commentators and the financial press. Discussion of accounting issues in national newspapers and business magazines is now commonplace. The goodwill debate, brands accounting and off balance sheet financing are some of the more recent controversial issues. Apart from significantly increased regulation following implementation of the EC Fourth Directive and 20 years of standard setting, there is a movement to encourage voluntary disclosures and improved financial reporting; events such as the Published Accounts Award organised by the Leinster Society of Chartered Accountants are part of this movement. The recent publication of “A Survey of Irish Published Accounts” is the first independent assessment of accounting and disclosure practices of Irish companies. The survey was launched by the Minister for Industry and Commerce, Mr. Desmond O'Malley, T.D. on April 24th last at a reception in University College Dublin. The Minister welcomed the survey and said that “it provided a comprehensive body of information which can be used to judge compliance with standards, to identify problem areas in standards and to develop best practice”. He went on to say that the Irish accountancy profession would find the survey a valuable resource document when contributing to the deliberations of the international accounting standards committee, FEE, and other international organisations.17/12/2013. SB

Measurement of de facto harmonisation: implications of non-disclosure for research planning and interpretation

Index-based harmonisation measurement techniques using company accounts data have been developed in prior research. Although the results of applying such measures have been reported in the literature as indicating actual levels of financial reporting harmony, such conclusions have not always been justified. In the first instance, it can he argued that the limitations of the indices as measures of financial reporting harmony in situalion.s of non-disclosure were not always appreciated or highlighted. Secondly, data used for the purpose of measuring harmony was not always sufficiently robusi lo support the conclusions drawn. In this sludy. a generalised formula is presented, combining differenl categories of'min-disclosure. It is reconciled to special cases derived in previous research and is then applied to company accounts data, which is sufficiently refined in detail to fomi a basis for answering illustrative exploratory research questions relating to the level of harmony and harmonisation trends. The specific analysis relates to deferred tax accounting in Ireland and Denmark over a period of eight years. Statistical analysis reinforces a discussion ihat warns researchers of the potential variations in results. Conclusions are drawn that the state of harmony is belter estimated when the data is analysed to distinguish applicable from nol-applicable cases of non-disclosure, and the index formulae applied are adjusted appropriately in both ihe numerator and the denominator. However, caution remains necessary where the non-disclosure level Is relatively high

Republic of Ireland

This chapter discusses the audit, preparation and presentation of company financial statements in Ireland. Legal regulations affecting the preparation of financial statements and affecting the conduct of audits are summarized. The institutional background to these activities is also discussed. The financial statements of one of Ireland’s largest public limited companies, CRH plc, are included at the end of this chapter and are referred to in the text where relevant

Stock Exchange and Professional Accounting Requirements Applying in Both the Republic of Ireland and the United Kingdom

Stock exchange regulations and professional accounting pronouncements are largely the same in both the Republic of Ireland (ROI) and the United Kingdom (U.K.) - consequently, the material in this appendix applies to both chapters. This appendix is organized into six parts: Part 1: General items (Sections 1 and 2); Part 2: Profit and loss account items (Sections 3 to 5), Part 3: Balance sheet items (Sections 6 to 11); Part 4: Cash flow (Section 12); Part 5: Groups (Section 13) and Part 6: Smaller entities (Section 14). The appendix ends with a summary of the professional accounting pronouncements at July 2002 applicable in both the Republic of Ireland and the United Kingdom which is shown in Appendix

Impression management : developing and illustrating a scheme of analysis for narrative disclosures – a methodological note

Purpose – This paper develops a holistic measure for analysing impression management and for detecting bias introduced into corporate narratives as a result of impression management. Design/methodology/approach – Prior research on the seven impression management methods in the literature is summarised. Four of the less-researched methods are described in detail, and are illustrated with examples from UK Annual Results’ Press Releases (ARPRs). A method of computing a holistic composite impression management score based on these four impression management methods is developed, based on both quantitative and qualitative data in corporate narrative disclosures. An impression management bias score is devised to capture the extent to which impression management introduces bias into corporate narratives. An example of the application of the composite impression management score and impression management bias score methodology is provided. Findings – While not amounting to systematic evidence, the 21 illustrative examples suggest that impression management is pervasive in corporate financial communications using multiple impression management methods, such that positive information is exaggerated, while negative information is either ignored or is underplayed. Originality/value – Four impression management methods are described in detail, illustrated by 21 examples. These four methods are examined together. New impression management methods are studied in this paper for the first time. This paper extends prior impression management measures in two ways. First, a composite impression management score based on four impression management techniques is articulated. Second, the composite impression management score methodology is extended to capture a measure for bias, in the form of an impression management bias score. This is the first time outside the US that narrative disclosures in press releases have been studied.Not applicableThe Accounting Harmonisation and Standardisation in Europe: Enforcement, Comparability and Capital Market Effects research projec

Impression management : developing and illustrating a scheme of analysis for narrative disclosures – a methodological note

Purpose – This paper develops a holistic measure for analysing impression management and for detecting bias introduced into corporate narratives as a result of impression management. Design/methodology/approach – Prior research on the seven impression management methods in the literature is summarised. Four of the less-researched methods are described in detail, and are illustrated with examples from UK Annual Results’ Press Releases (ARPRs). A method of computing a holistic composite impression management score based on these four impression management methods is developed, based on both quantitative and qualitative data in corporate narrative disclosures. An impression management bias score is devised to capture the extent to which impression management introduces bias into corporate narratives. An example of the application of the composite impression management score and impression management bias score methodology is provided. Findings – While not amounting to systematic evidence, the 21 illustrative examples suggest that impression management is pervasive in corporate financial communications using multiple impression management methods, such that positive information is exaggerated, while negative information is either ignored or is underplayed. Originality/value – Four impression management methods are described in detail, illustrated by 21 examples. These four methods are examined together. New impression management methods are studied in this paper for the first time. This paper extends prior impression management measures in two ways. First, a composite impression management score based on four impression management techniques is articulated. Second, the composite impression management score methodology is extended to capture a measure for bias, in the form of an impression management bias score. This is the first time outside the US that narrative disclosures in press releases have been studied.Not applicableThe Accounting Harmonisation and Standardisation in Europe: Enforcement, Comparability and Capital Market Effects research projec