Does the Form 20-F reconciliation help ensure the financial reporting quality of cross-listed IFRS firms? A comparison with cross-listed non-IFRS firms

被引：1

作者：

Lin, Yi-Hung ^{[1
]}

Huang, Hua-Wei ^{[2
]}

Dao, Mai ^{[3
]}

Huang, Ting-Chiao ^{[1
]}

机构：

[1] Monash Univ, Dept Accounting, 20 Chancellors Walk, Clayton, Vic 3800, Australia

[2] Natl Cheng Kung Univ, Coll Management, Tainan, Taiwan

[3] Univ Toledo, Coll Business Adm & Innovat, 2801 W Bancroft St, Toledo, OH 43606 USA

来源：

INTERNATIONAL JOURNAL OF AUDITING | 2021年 / 25卷 / 02期

关键词：

Form 20-F reconciliation; IFRS; industry specialization; legal regime; restatements; AUDITOR INDUSTRY SPECIALIZATION; FOREIGN PRIVATE ISSUERS; INVESTOR PROTECTION; EARNINGS QUALITY; ACCOUNTING RESTATEMENTS; INTERACTION TERMS; U.S; GAAP; ADOPTION; LEGAL; IMPACT;

D O I：

10.1111/ijau.12228

中图分类号：

F8 [财政、金融];

学科分类号：

0202 ;

摘要：

This paper investigates whether financial reporting quality improves or deteriorates after the US Securities and Exchange Commission (SEC) decided to eliminate the Form 20-F reconciliation requirement for foreign cross-listed firms following International Financial Reporting Standards (IFRS). Using a difference-in-differences research design, we find that cross-listed IFRS firms are less likely to restate financial statements after the SEC revoked their reconciliation requirement, as compared to cross-listed non-IFRS firms that still need to prepare the reconciliation. Moreover, such a reduction in the occurrence of financial restatements is more prominent when cross-listed IFRS firms engage global industry-specialist auditors and originate from common law countries. Together, this paper lends support to the elimination of the reconciliation requirement for cross-listed IFRS firms and highlights the important roles of auditors and the legal environment in shaping financial reporting quality.

引用

页码：442 / 474

页数：33

共 20 条

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