Accounting Choices for Tangible Assets: A Study of Greek Firms

The purpose of this paper is to investigate the choices of Greek firms regarding the measurement of an item of a fixed tangible asset subsequent to its initial recognition, including impairment recognition, under IAS 16 and IAS 36 using a sample of Greek firms for the years 2005, 2007 and 2009. Results indicate that the cost model is more likely to be adopted by the more leveraged firms. In addition, it has been examined the compliance of the sample firms with disclosure requirements of IAS 16 and IAS 36. It appears that the disclosure compliance of the sample firms with the disclosure requirements of IAS 16 and 36 is influenced by firm's choice of valuation method for the measurement of an item of a fixed tangible asset subsequent to its initial recognition. It appears that the firms that adopt the revaluation method exhibit lower compliance rates

The use of accounting information in the valuation of equity securities

SIGLEAvailable from British Library Document Supply Centre- DSC:DX187549 / BLDSC - British Library Document Supply CentreGBUnited Kingdo

Privatizing the statutory auditing services in Greece

This paper examines the historical process of privatizing the Greek auditing profession in the context of contemporaneous political and economic developments that date from the inception of the profession in 1955. The paper focuses on the successive attempts to implement the EEC's Eighth Company Law Directive that led to the abolition of the Body of Sworn-in Accountants - the state-sponsored institute and at the same time a practising firm. Furthermore, the changing expectations about the auditor's role as reflected in the privatization discussions over time are explored.Statutory Auditing, Privatization, Auditing History, Greece,

An empirical investigation of Greek firms' compliance to IFRS disclosure requirements

This study investigates the compliance of Greek firms to IFRS disclosure requirements. Using a checklist based on the disclosure requirements contained on the proposed standard for SMEs, a compliance score was calculated for a sample of 32 listed and non-listed Greek firms. Subsequently, univariate tests and a multivariate regression model were run to investigate what firm characteristics (listing status, sector, size, profitability) may be related to the extent of compliance. On average, firms comply with about two-thirds of the disclosure requirements. Compliance is positively and significantly influenced by listing status, while the univariate analysis indicated that the larger firms exhibit higher compliance rates. Results are of particular interest to accounting regulators who set disclosure requirements and capital market participants. However, the small size of the sample limits the power of the statistical analysis. The paper empirically investigates the compliance with IFRS requirements and ultimately on the quality of financial statements.compliance; disclosure requirements; small and medium-sized enterprises; SMEs; International Financial Reporting Standards; IFRS; Greece; accounting standards.