comparability of company accounts using ifrs and us gaap empirical evidence of european and us financial statements

Purpose-The main objective of this study is to provide a judgment on the comparability of financial statements prepared under IFRS and US-GAAP. We developed two research questions for evaluating comparability within Europe (IFRS) and within the US (US GAAP) and for testing whether comparability is higher or lower when the US companies are included with the European countries.Design/Methodology/Approach-The T index framework was used to summarize the level of comparability for 13 accounting items using data from 250 companies.Findings-Empirical results are mixed. Of 13 accounting items considered, international comparability is significantly lower for 7 items and significantly higher for 4 items when the US companies are included. Furthermore, comparability amongst companies using IFRS is not consistently higher or lower than comparability amongst companies using US GAAP.Practical implications-Answers to the research questions may provide useful suggestions for IASB's current policy direction towards global accounting standards convergence, and in particular for the IASB-FASB convergence project. The results also have implications for companies or countries considering shifting to IFRS or US GAAP.Research limitations/implications-Lack of comparability within countries, rather than between countries, suggests a need to focus on reducing options within standards rather than on differences between standards or countries.Originality value-Our empirical results show that in most cases lack of comparability may be driven by options within a standard rather than by explicit differences between standards

Exploring the effectiveness of sustainability measurement: which esg metrics will survive covid-19?

This paper aims to investigate the current state of play on Environmental Social and Governance (ESG) integration and check the validity of the current metrics system by assessing if it will survive the COVID-19 crisis. By adopting a qualitative research approach through semi-structured anonymous interviews with 14 senior managers of six European listed companies we use a framework by assessing the mechanisms of reactivity on the effectiveness of ESG measures in times of COVID-19. By interpreting the practitioners’ points of view through the lens of the sociological framework by Espeland and Sauder (Am J Sociol 113:1–40, 2007) our findings show different mechanisms of reactivity by companies on the effectiveness of ESG measures in times of COVID-19, i.e., active and passive conformity and active resistance. We also identified the main Corporate Social Responsibility (CSR) institutional factors that affect managers’ reactivity. An extensive re-formulation of the ESG metrics is required in the light of times of crisis, given that accountability and transparency are strongly linked to quantitative measures which can play a critical role in the financial system and investors’ engagement. Particularly, the strict distinction between “E”, “S” and “G” issues should be abandoned claiming a different holistic re-design of sustainability measures by considering the increasing relevance of the Social dimension in time of COVID-19. This study provides a valuable contribution to the existing literature on the measurement of sustainability within the link of accountability and crisis by highlighting new corporate needs to re-design the ESG metrics system

The humoral pattern recognition receptor PTX3 is stored in neutrophil granules and localizes in extracellular traps

The long pentraxin (PTX) 3 is produced by macrophages and myeloid dendritic cells in response to Toll-like receptor agonists and represents a nonredundant component of humoral innate immunity against selected pathogens. We report that, unexpectedly, PTX3 is stored in specific granules and undergoes release in response to microbial recognition and inflammatory signals. Released PTX3 can partially localize in neutrophil extracellular traps formed by extruded DNA. Eosinophils and basophils do not contain preformed PTX3. PTX3-deficient neutrophils have defective microbial recognition and phagocytosis, and PTX3 is nonredundant for neutrophil-mediated resistance against Aspergillus fumigatus. Thus, neutrophils serve as a reservoir, ready for rapid release, of the long PTX3, a key component of humoral innate immunity with opsonic activity

The economics of the UN Sustainable Development Goals: does sustainability make financial sense?

The implementation of the UN Sustainable Development Goals is a global priority, but one whose full implementation is vulnerable to the high costs associated with it. This raises the question: does the implementation of the SDGs make financial sense? This article addresses this question and outlines the need to raise awareness of the economic benefits of implementing the global goals. Further, it presents and discusses the main financial gaps to achieve the Sustainable Development Goals by 2030

THE SDGs IN THE REPORTS OF THE ITALIAN COMPANIES. RESEARCH DOCUMENT N. 16

The document represents the first result of the study conducted by the research group "SDGs and business reporting" and aims to be the starting point of a process for corporate awareness towards sustainable development objectives. The document reveals our country commitment on Agenda 2030; a commitment that involves the entire "Italian system" in pursuit of the 17 sustainable development goals, through the active role of Italian companies as operators. Hence, it not only creates economic value on sustainable development but also it sensitize other companies, end users and the community in general. Although the results depict a sustainable development goals reporting in becoming and not entirely conscious, they provide inputs for entrepreneurs, directors, managers, regulators, consultants, etc. who, for various reasons, are the actors in a process of profound business change that is affecting the corporate reporting and disclosures. The document provides, in this context, useful hints to a better understanding the new corporate reporting direction; indeed, reporting is increasingly affected by an accountability process and responsibility towards both internal and external stakeholders

Assessing ethics and sustainability standards in corporate practices

Purpose: This study aims to investigate how sustainability and ethics are being addressed both by the literature and companies. Furthermore, it seeks to identify the specific strategies that these companies use to foster ethical behaviour and promote sustainability in their business operations. Design/methodology/approach: The study entails a bibliometric analysis and a set of case studies from a sample of companies working in different industry sectors. Based on these tools, it analyses whether – and how – enterprises are placing an emphasis on sustainability and ethics as part of their businesses. In addition, the selected companies' unethical practices or socially irresponsible corporate activities were investigated and presented. Findings: The findings suggest that using an ethics perspective can be a valuable tool in improving the accuracy and correctness of business decision-making. In addition, the paper has identified the fact that sustainability standards can be used to improve customer satisfaction as many important issues are addressed. Finally, the paper highlights the importance of ethical considerations when designing and implementing sustainability standards at enterprises and the need for regulatory guidance in this regard. Originality/value: The paper addresses the need for studies on how sustainability and ethics are being discussed by both the literature and companies. The paper presents some elements that can be used as possible corporate indicators for a wider implementation of sustainability and ethics objectives in enterprises

Promoting gender equality across the sustainable development goals

Gender issues, and gender equality in particular, can be regarded as cross-cutting issues in the implementation of the Sustainable Development Goals (SDGs), even though it is unclear how they are taken into account. This study addresses this information gap by performing an assessment of the emphasis on gender issues across all the other 16 SDGs, in addition to SDG5, through a literature review and case study analysis, the basis for the newly developed framework, highlighting specific actions associated to each SDG. The 13 countries addressed in the 16 case studies include China, India, or Australia and illustrate the inclusion of SDG5 into the SDGs. Using an SDG matrix, the SDG targets are analysed. Those where an emphasis on gender equality is important in allowing them to be achieved are listed. The novelty of our approach resides in offering an in-depth analysis of how gender issues interact with the other SDGs, proposing a new analysis framework clearly identifying SDGs 1, 4, 11, 12, 14 and 16 demanding further attention for successful SD gender implementation and illustrating specific areas where further actions may be necessary, which may be used by policy-makers, raising further awareness on gender equality contribution to achieve the SDGs. A set of recommendations aimed at placing gender matters more centrally in the SDGs delivery are presented as a final contribution. These focus on the need for greater awareness and attention to good practices, to achieve successful implementation initiatives.peer-reviewe

Promoting gender equality across the sustainable development goals.

Gender issues, and gender equality in particular, can be regarded as cross-cutting issues in the implementation of the Sustainable Development Goals (SDGs), even though it is unclear how they are taken into account. This study addresses this information gap by performing an assessment of the emphasis on gender issues across all the other 16 SDGs, in addition to SDG5, through a literature review and case study analysis, the basis for the newly developed framework, highlighting specific actions associated to each SDG. The 13 countries addressed in the 16 case studies include China, India, or Australia and illustrate the inclusion of SDG5 into the SDGs. Using an SDG matrix, the SDG targets are analysed. Those where an emphasis on gender equality is important in allowing them to be achieved are listed. The novelty of our approach resides in offering an in-depth analysis of how gender issues interact with the other SDGs, proposing a new analysis framework clearly identifying SDGs 1, 4, 11, 12, 14 and 16 demanding further attention for successful SD gender implementation and illustrating specific areas where further actions may be necessary, which may be used by policy-makers, raising further awareness on gender equality contribution to achieve the SDGs. A set of recommendations aimed at placing gender matters more centrally in the SDGs delivery are presented as a final contribution. These focus on the need for greater awareness and attention to good practices, to achieve successful implementation initiatives. Supplementary Information: The online version contains supplementary material available at 10.1007/s10668-022-02656-1

Colorectal Cancer Stage at Diagnosis Before vs During the COVID-19 Pandemic in Italy

IMPORTANCE Delays in screening programs and the reluctance of patients to seek medical attention because of the outbreak of SARS-CoV-2 could be associated with the risk of more advanced colorectal cancers at diagnosis. OBJECTIVE To evaluate whether the SARS-CoV-2 pandemic was associated with more advanced oncologic stage and change in clinical presentation for patients with colorectal cancer. DESIGN, SETTING, AND PARTICIPANTS This retrospective, multicenter cohort study included all 17 938 adult patients who underwent surgery for colorectal cancer from March 1, 2020, to December 31, 2021 (pandemic period), and from January 1, 2018, to February 29, 2020 (prepandemic period), in 81 participating centers in Italy, including tertiary centers and community hospitals. Follow-up was 30 days from surgery. EXPOSURES Any type of surgical procedure for colorectal cancer, including explorative surgery, palliative procedures, and atypical or segmental resections. MAIN OUTCOMES AND MEASURES The primary outcome was advanced stage of colorectal cancer at diagnosis. Secondary outcomes were distant metastasis, T4 stage, aggressive biology (defined as cancer with at least 1 of the following characteristics: signet ring cells, mucinous tumor, budding, lymphovascular invasion, perineural invasion, and lymphangitis), stenotic lesion, emergency surgery, and palliative surgery. The independent association between the pandemic period and the outcomes was assessed using multivariate random-effects logistic regression, with hospital as the cluster variable. RESULTS A total of 17 938 patients (10 007 men [55.8%]; mean [SD] age, 70.6 [12.2] years) underwent surgery for colorectal cancer: 7796 (43.5%) during the pandemic period and 10 142 (56.5%) during the prepandemic period. Logistic regression indicated that the pandemic period was significantly associated with an increased rate of advanced-stage colorectal cancer (odds ratio [OR], 1.07; 95%CI, 1.01-1.13; P = .03), aggressive biology (OR, 1.32; 95%CI, 1.15-1.53; P < .001), and stenotic lesions (OR, 1.15; 95%CI, 1.01-1.31; P = .03). CONCLUSIONS AND RELEVANCE This cohort study suggests a significant association between the SARS-CoV-2 pandemic and the risk of a more advanced oncologic stage at diagnosis among patients undergoing surgery for colorectal cancer and might indicate a potential reduction of survival for these patients