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Richard Pike - One of the best experts on this subject based on the ideXlab platform.
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the effect of Audit Committee characteristics on intellectual capital disclosure
British Accounting Review, 2012Co-Authors: Musa Mangena, Richard PikeAbstract:Abstract This paper, using data from 100 UK listed firms, investigates the relationship between Audit Committee characteristics and intellectual capital (IC) disclosure. We find that overall IC disclosure is positively associated with Audit Committee characteristics such as the size and frequency of meetings, and negatively associated with Audit Committee directors' shareholding. We find no significant relationship between IC disclosure and Audit Committee independence and financial expertise. We also observe that the association between Audit Committee characteristics and IC disclosure varies with the IC components (i.e. human capital, structural capital and relational capital), suggesting that the underlying factors that drive various components of IC disclosure are different. These results have important implications for policy-makers in that they confirm that the effectiveness of Audit Committees in the corporate reporting processes is a function of certain characteristics.
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the effect of Audit Committee shareholding financial expertise and size on interim financial disclosures
Accounting and Business Research, 2005Co-Authors: Musa Mangena, Richard PikeAbstract:Abstract In recent years, corporate failures and accounting irregularities have led to concerns about the effectiveness of Audit Committees in the financial reporting process. In response, corporate governance Committees in different countries have made specific recommendations designed to enhance the role of the Audit Committee in executing its financial reporting oversight duties. We investigate in this study, the effect of some of these recommendations by empirically examining the relationship between selected Audit Committee characteristics and the level of disclosure in interim reports of a sample of 262 UK listed companies. Specifically, the Audit Committee characteristics examined are shareholding of Audit Committee members (as a proxy for Audit Committee independence), Audit Committee size and Audit Committee financial expertise. Employing both a weighted and unweighted index to measure interim disclosure, the results indicate a significant negative association between shareholding of Audit commit...
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the effect of Audit Committee shareholding financial expertise and size on interim financial disclosures
2005Co-Authors: Musa Mangena, Richard PikeAbstract:In recent years, corporate failures and accounting irregularities have led to concerns about the effectiveness of Audit Committees in the financial reporting process. In response, corporate governance Committees in different countries have made specific recommendations designed to enhance the role of the Audit Committee in executing its financial reporting oversight duties. We investigate in this study, the effect of some of these recommendations by empirically examining the relationship between selected Audit Committee characteristics and the level of disclosure in interim reports of a sample of 262 UK listed companies. Specifically, the Audit Committee characteristics examined are shareholding of Audit Committee members (as a proxy for Audit Committee independence), Audit Committee size and Audit Committee financial expertise. Employing both a weighted and unweighted index to measure interim disclosure, the results indicate a significant negative association between shareholding of Audit Committee members and interim disclosure. Our results provide evidence of a significant positive association between interim disclosure and Audit Committee financial expertise. We find no significant relationship between Audit Committee size and the extent of disclosure in interim reports. Overall, however, our results suggest that Audit Committee characteristics have an impact on its monitoring effectiveness of the financial reporting process. These results have important implications for corporate governance policy-makers who have a responsibility to prescribe appropriate corporate governance structures to ensure that shareholders are protected.
Richard W Houston - One of the best experts on this subject based on the ideXlab platform.
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Audit Committee member support for proposed Audit adjustments pre sox versus post sox judgments
Ear and Hearing, 2008Co-Authors: Todd F Dezoort, Dana R. Hermanson, Richard W HoustonAbstract:This study examines differences in Audit Committee member judgments before the Sarbanes‐Oxley Act (“pre‐SOX”) versus after the act was passed (“post‐SOX”) as well as Audit Committee member perceptions of the effects of SOX. Based on experimental materials administered to 372 public company Audit Committee members (131 pre‐SOX from DeZoort et al. [2003a] and 241 post‐SOX), we find that Audit Committee support for an Auditor‐proposed adjustment is significantly higher in the post‐SOX period. Additional analyses reveal that the effect of SOX differs between Audit Committee members who are CPAs versus non‐CPAs. Specifically, the greater Audit Committee member support for the proposed adjustment post‐SOX is attributable to members who are CPAs. In general, Audit Committee members in the post‐SOX period feel more responsible for resolving the accounting issue, perceive that Audit Committee members have greater expertise to evaluate the accounting issue, and also are more concerned with reporting accuracy and a ...
Mahfuja Malik - One of the best experts on this subject based on the ideXlab platform.
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Audit Committee composition and effectiveness: a review of post-SOX literature
Journal of Management Control, 2014Co-Authors: Mahfuja MalikAbstract:The Sarbanes–Oxley act (SOX) was enacted to strengthen corporate governance practices in the United States; since SOX enactment, the Audit Committee has received increasing emphasis in accounting research. The main objective of this study is to review and synthesize the growing volume of Audit Committee literature in the post-SOX era. While summarizing the post-SOX literature, this study also focuses on selected pre-SOX studies to compare the research issues and findings of pre- and post-SOX literature and to show how governance reforms shape the literature’s domain. The extant Audit Committee literature reflects an enormous body of knowledge. Pre-SOX literature documents that Audit the Committee composition criteria play a significant role in determining the effectiveness of the Audit Committee. Like the pre-SOX literature, post-SOX literature establishes the notion that independent and expert Audit Committees enhance the effectiveness of the Audit Committee monitoring processes and improve the overall quality of financial reporting and Auditing. These findings supplement the scholarly support for SOX requirements. In the post-SOX era, researchers have focused on those issues driven by SOX. However, other issues that are not addressed by SOX have also emerged during the post-SOX period, including Audit Committee compensation and the social ties of Committee members with the chief executive officer as well as the supervisory or other expertise of Audit Committee members. However, for some issue, the findings are not conclusive. For example, post-SOX researchers have documented inconsistent findings regarding the association between the Audit Committee monitoring process and the different forms of compensation for Audit Committee members. Moreover, both the pre- and post-SOX literature contain predominantly experimental research. So, there remains ample room for future empirical research that can shed further light on the more theoretical issues. Future researchers can investigate unanswered questions by establishing an implicit understanding of existing findings and developing theories in this area.
Musa Mangena - One of the best experts on this subject based on the ideXlab platform.
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the effect of Audit Committee characteristics on intellectual capital disclosure
British Accounting Review, 2012Co-Authors: Musa Mangena, Richard PikeAbstract:Abstract This paper, using data from 100 UK listed firms, investigates the relationship between Audit Committee characteristics and intellectual capital (IC) disclosure. We find that overall IC disclosure is positively associated with Audit Committee characteristics such as the size and frequency of meetings, and negatively associated with Audit Committee directors' shareholding. We find no significant relationship between IC disclosure and Audit Committee independence and financial expertise. We also observe that the association between Audit Committee characteristics and IC disclosure varies with the IC components (i.e. human capital, structural capital and relational capital), suggesting that the underlying factors that drive various components of IC disclosure are different. These results have important implications for policy-makers in that they confirm that the effectiveness of Audit Committees in the corporate reporting processes is a function of certain characteristics.
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the effect of Audit Committee shareholding financial expertise and size on interim financial disclosures
Accounting and Business Research, 2005Co-Authors: Musa Mangena, Richard PikeAbstract:Abstract In recent years, corporate failures and accounting irregularities have led to concerns about the effectiveness of Audit Committees in the financial reporting process. In response, corporate governance Committees in different countries have made specific recommendations designed to enhance the role of the Audit Committee in executing its financial reporting oversight duties. We investigate in this study, the effect of some of these recommendations by empirically examining the relationship between selected Audit Committee characteristics and the level of disclosure in interim reports of a sample of 262 UK listed companies. Specifically, the Audit Committee characteristics examined are shareholding of Audit Committee members (as a proxy for Audit Committee independence), Audit Committee size and Audit Committee financial expertise. Employing both a weighted and unweighted index to measure interim disclosure, the results indicate a significant negative association between shareholding of Audit commit...
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the effect of Audit Committee shareholding financial expertise and size on interim financial disclosures
2005Co-Authors: Musa Mangena, Richard PikeAbstract:In recent years, corporate failures and accounting irregularities have led to concerns about the effectiveness of Audit Committees in the financial reporting process. In response, corporate governance Committees in different countries have made specific recommendations designed to enhance the role of the Audit Committee in executing its financial reporting oversight duties. We investigate in this study, the effect of some of these recommendations by empirically examining the relationship between selected Audit Committee characteristics and the level of disclosure in interim reports of a sample of 262 UK listed companies. Specifically, the Audit Committee characteristics examined are shareholding of Audit Committee members (as a proxy for Audit Committee independence), Audit Committee size and Audit Committee financial expertise. Employing both a weighted and unweighted index to measure interim disclosure, the results indicate a significant negative association between shareholding of Audit Committee members and interim disclosure. Our results provide evidence of a significant positive association between interim disclosure and Audit Committee financial expertise. We find no significant relationship between Audit Committee size and the extent of disclosure in interim reports. Overall, however, our results suggest that Audit Committee characteristics have an impact on its monitoring effectiveness of the financial reporting process. These results have important implications for corporate governance policy-makers who have a responsibility to prescribe appropriate corporate governance structures to ensure that shareholders are protected.
Todd F Dezoort - One of the best experts on this subject based on the ideXlab platform.
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Audit Committee compensation fairness and the resolution of accounting disagreements
2012Co-Authors: James L Bierstaker, Jeffrey R Cohen, Todd F Dezoort, Dana R. HermansonAbstract:An emerging body of research examines the relation of incentive-based Audit Committee compensation with accounting outcomes (e.g., Archambeault et al. 2008; Magilke et al. 2009). We extend this literature by examining the effects of Audit Committee compensation and perceived fairness to shareholders on actual public company Audit Committee members’ judgments in accounting disagreements. Fifty-six highly experienced public company Audit Committee members participated in an experiment involving an accounting disagreement between management and the external Auditor, with three types of Audit Committee compensation (i.e., cash only, cash and short-term stock options, or cash and long-term stock options) manipulated between subjects. We also measured the participants’ perceptions of the fairness to shareholders if the Auditor’s adjustment is not recorded. We find that Audit Committee members are more likely to support the Auditor in an accounting disagreement when Audit Committee compensation includes long-term stock options and when members perceive that failure to record the Auditor’s adjustment is less fair to shareholders. Most significantly, we find that the relation between long-term incentive compensation and support for the Auditor is fully mediated by a sense of fairness to shareholders. We offer implications and suggestions for future research.
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Audit Committee member support for proposed Audit adjustments pre sox versus post sox judgments
Ear and Hearing, 2008Co-Authors: Todd F Dezoort, Dana R. Hermanson, Richard W HoustonAbstract:This study examines differences in Audit Committee member judgments before the Sarbanes‐Oxley Act (“pre‐SOX”) versus after the act was passed (“post‐SOX”) as well as Audit Committee member perceptions of the effects of SOX. Based on experimental materials administered to 372 public company Audit Committee members (131 pre‐SOX from DeZoort et al. [2003a] and 241 post‐SOX), we find that Audit Committee support for an Auditor‐proposed adjustment is significantly higher in the post‐SOX period. Additional analyses reveal that the effect of SOX differs between Audit Committee members who are CPAs versus non‐CPAs. Specifically, the greater Audit Committee member support for the proposed adjustment post‐SOX is attributable to members who are CPAs. In general, Audit Committee members in the post‐SOX period feel more responsible for resolving the accounting issue, perceive that Audit Committee members have greater expertise to evaluate the accounting issue, and also are more concerned with reporting accuracy and a ...