International financial reporting standards (IFRSs) adoption in Africa: Abibliometric analysis

Countries in Africa have since joined their counterparts in other regions of the world in adopting IFRSs with over 30 countries either requiring or permitting its use for its companies. This study contributes to academic literature as it presents a bibliometric analysis on the state of IFRS research in Africa. The analysis involves 73 published articles listed on Scopus database between 2005 and 2018. Key findings in the study indicate that the first research document on Scopus database on IFRS in Africa was in 2005, despite its early adoption since 1993 in Zimbabwe. There is a continued upward growth in the volume of publications and citations over the years. The year of first IFRSs adoption is not associated with the volume of publication. Top five leaders in the volume of publication on IFRSs include Tunisia and Egypt, these countries are yet to adopt IFRSs. The dominant subject areas on IFRSs research are Business, Management & Accounting, Economics, Econometrics & Finance and Social Sciences. Only 21 authors and 18 institutions out of over 600 institutions in Africa contribute more than one publication to IFRS research. These institutions and authors are all in six African countries (South Africa, Nigeria, Tunisia, Egypt, Uganda and Ghana). Recommendations from the result include the need for higher visibility of research on IFRS. Approximately 87% of the publications are non-open access and the need for more academic conference on IFRS as conference proceedings accounts for only 11%

How numeracy mediates cash flow format preferences: A worldwide study

688 students from 9 countries on 5 continents participated in this research. The objective was to ascertain what effects, if any, using the direct or indirect format for the operating activities section of the cash flow statement has, if any, on a loan decision and on the ratings of various attributes of the cash flow statement. Students were pretested on their accounting skills with a few simple calculations, then asked to make the loan decision and finally requested to give their opinion of the financial statements in general and of the statement of cash flows in particular. Format had only a minor effect on the loan decision itself but significantly more favorable comments on user friendliness were received on the direct format than on the indirect. Significant differences were found, however, as regards the loan decisions between the students who had correctly done the calculations and those who had not, to such a degree that the effects of innumeracy became the main contribution to knowledge of this research. We find that the ability to perform accurate calculations, a fundamental foundation of financial numeracy, has an effect on financial decision making that has been ignored in previous studies of financial statement users and uses. This has significant implications for accounting and investing practice, and opens up an important field of research in accounting which can learn from what has already been studied on the effects of innumeracy in the health management field. © 2018 Elsevier Lt

Understanding Financial Reporting Fraud in Egypt – Evidence from the Audit Field

This study expands our knowledge and understanding of financial reporting fraud in Egypt by drawing on the perceptions of experienced international and Big 4 auditors in that country. In particular, it explores (1) how common financial reporting fraud is in Egypt, (2) the perpetrators and victims of financial reporting fraud in Egypt and (3) how financial reporting fraud is committed and concealed in Egypt. The study sheds light on generic issues that could have implications for auditors and audit regulators. In addition, the study provides a detailed guide on how financial reporting fraud schemes are committed and concealed in Egypt, knowledge of which could help auditors design effective audit tests to assess fraud risk and help those charged with governance to design effective prevention and detection techniques. Egypt could be an attractive destination for international investors, therefore knowledge of the nature and victims of fraud in Egypt could help investors make informed decisions about where to invest their money. The results of this study could also help regulators in Egypt as well as World Trade Organizations determine where to focus their support and enforcement efforts

How numeracy mediates cash flow format preferences: A worldwide study

688 students from 9 countries on 5 continents participated in this research. The objective was to ascertain what effects, if any, using the direct or indirect format for the operating activities section of the cash flow statement has, if any, on a loan decision and on the ratings of various attributes of the cash flow statement. Students were pretested on their accounting skills with a few simple calculations, then asked to make the loan decision and finally requested to give their opinion of the financial statements in general and of the statement of cash flows in particular. Format had only a minor effect on the loan decision itself but significantly more favorable comments on user friendliness were received on the direct format than on the indirect. Significant differences were found, however, as regards the loan decisions between the students who had correctly done the calculations and those who had not, to such a degree that the effects of innumeracy became the main contribution to knowledge of this research. We find that the ability to perform accurate calculations, a fundamental foundation of financial numeracy, has an effect on financial decision making that has been ignored in previous studies of financial statement users and uses. This has significant implications for accounting and investing practice, and opens up an important field of research in accounting which can learn from what has already been studied on the effects of innumeracy in the health management field