Reaching key financial reporting decisions: how directors and auditors interact

A fascinating behind-the-scenes examination of how agreement on key financialreporting issues is reached, this book provides insights into a vital processwhich is normally inaccessible to all but its participants. With unprecedented access to key participants, the authors draw on results of an extensive survey of finance directors, audit committee chairs and audit partners of UK listed companies and present nine company case studies where the researchers conducted face to face interviews with Finance Directors, Audit Committee Chairs andAudit Partners. The authors identify and analyze the process adopted between these three parties both in discussing and negotiating financial reporting andauditing issues, and in reaching the agreed financial reporting outcome. INDICE: List of Figures.List of Tables.Foreword (Peter Wyman).Preface.Acknowledgements.Abbreviations.PART I THE BACKGROUND.1 Introduction and Background.1.1 What This Book is About.1.2 Recent Regulatory Changes.1.3 Contribution ofThis Book in the 2010/2011 Regulatory Environment.1.4 Research Approach.1.5 Outline of Book.1.6 Key Findings and Conclusions.2 Review of Relevant Literature.2.1 Overview.2.2 Regulation.2.3 IFRS.2.4 Audit Quality.2.5 Enforcement.2.6 Corporate Governance and the Role of the Audit Committee.2.7 Interactions and Negotiation in Non-Audit Settings.2.8 Interactions and Negotiation in Audit Settings.3 The Survey.3.1 Overview.3.2 Methods.3.3 Findings.3.4 Interaction Issues.3.5 Financial Statement Changes.3.6 Summary.PART II THE CASE STUDIES.4 Case Studies.4.1 Introduction to the Case Studies.4.2 How the Case Companies were Selected and Approached.4.3 Broad Approach to the Grounded Theory Analysis.4.4 Writing Up Each Case (Matched Set of Interviews) -The Stories.4.5 Preliminary Within-Case Analysis: Attaching Labels to the Key Categories.4.6 Within-case Analysis.4.7 Tabular Summary of Cases.5 Case 1-Sandpiper plc.5.1 Background to the Case.5.2 Corporate Governance.5.3 Key Interactions Between Stuart, Duncan and Patrick.5.4 Contextual Factors and Analysis of the Interactions.5.5 Conclusions.6 Case 2-Kestrel plc.6.1 Background to the Case.6.2 Corporate Governance.6.3 Key Interactions Between Philip, Guy and Barry.6.4 Contextual Factors andAnalysis of the Interactions.6.5 Conclusions.7 Case 3-Mallard plc.7.1 Background to the Case.7.2 Corporate Governance.7.3 Key Interactions Between Jack, Paul and Gerald.7.4 Contextual Factors and Analysis of the Interactions.7.5 Conclusions.8 Case 4-Finch plc.8.1 Background to the Case.8.2 Corporate Governance.8.3 Key Interactions Between Ben, Robert and Damien.8.4 Contextual Factors and Analysis of the Interactions.8.5 Conclusions.9 Case 5-Cormorant plc.9.1 Background to the Case.9.2 Corporate Governance.9.3 Key Interactions Between William, Dave and Simon.9.4 Contextual Factors and Analysis of the Interactions.9.5Conclusions.10 Case 6-Pochard plc.10.1 Background to the Case.10.2 Corporate Governance.10.3 Key Interactions Between Peter, Alan and Henry.10.4 ContextualFactors and Analysis of the Interactions.10.5 Conclusions.11 Case 7-Woodpecker plc.11.1 Background to the Case.11.2 Corporate Governance.11.3 Key Interactions Between Richard, Horace and Edward.11.4 Contextual Factors and Analysis ofthe Interactions.11.5 Conclusions.12 Case 8-Raven plc.12.1 Background to the Case.12.2 Corporate Governance.12.3 Key Interactions Between Trevor, Norman and Ivan.12.4 Contextual Factors and Analysis of the Interactions.12.5 Conclusions.13 Case 9-Ostrich plc.13.1 Background to the Case.13.2 Corporate Governance.13.3 Key Interactions Between Matthew, Victor and Luke.13.4 Contextual Factors and Analysis of the Interactions.13.5 Conclusions.PART III CROSS-CASE ANALYSIS AND CONCLUSIONS.14 Views of Interviewees on the Regulatory Framework.14.1 Introduction.14.2 Financial Reporting Issues.14.3 Auditing Issues.14.4 Corporate Governance.14.5 Summary.15 Attributes and Procedures of the Audit Committee and the Audit Committee Chair: Evidence.15.1 Overview.15.2 The Audit Committee.15.3 The Role of the Audit Committee Chair.15.4 Issues Discussed at Audit Committee Meetings.15.5 Conclusions and Contribution to the Academic Literature.16 Cross-case Analysis and Theory Development.16.1 Introduction.16.2 Summary ofInteraction Attributes.16.3 Summary of Cross-case Analysis.16.4 A Revised Grounded Theory of Financial Reporting Interactions -Overview.16.5 General Company/Audit Firm Context.16.6 Specific Context.16.7 International Regulatory Regime.16.8 National Regulatory Regime.16.9 Interactions (Core Category).16.10 Outcome Determinants.16.11 Comparison with Extant Literature.17 Conclusions.17.1 Overview.17.2 The Regulatory Setting.17.3 Evidential Base and Structure of Findings.17.4 The Nature of Financial Reporting Interactions Between FDs, ACCs andAEPs.17.5 The Interaction Process.17.6 Interaction Outcomes.17.7 The Regulatory Framework.17.8 The ACC and the Audit Committee.17.9 Policy Implications.17.10 Limitations and Implications for Future Research and Regulatory Interest.References.Index.

• ISBN: 978-1-119-97377-5
• Editorial: John Wiley & Sons
• Encuadernacion: Rústica
• Páginas: 384
• Fecha Publicación: 10/04/2012
• Nº Volúmenes: 1
• Idioma: Inglés