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Auditing, Corporate Governance and Financial Reporting Quality
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Auditing, Corporate Governance and Financial Reporting Quality

A special issue of Journal of Risk and Financial Management (ISSN 1911-8074). This special issue belongs to the section "Financial Markets".

Deadline for manuscript submissions: closed (31 January 2025) | Viewed by 4265

Special Issue Editor

Dr. Hongkang Xu

E-Mail Website
Guest Editor
College of Business, University of Massachusetts Dartmouth, 285 Old Westport Road, Dartmouth, MA 02747-2300, USA
Interests: auditing; corporate governance; financial reporting quality; tax research; international accounting

Special Issue Information

Dear Colleagues,

The fields of auditing, corporate governance and financial reporting quality are crucial for ensuring the transparency, accountability and efficiency of financial markets. In recent years, the complexity and scope of financial operations have increased significantly, necessitating more robust frameworks for auditing and governance. This Special Issue aims to explore the latest advancements and challenges in these areas, particularly in light of the ongoing regulatory changes and technological innovations.

This Special Issue will focus on the critical role that effective auditing practices and strong corporate governance structures play in enhancing the quality of financial reporting. We welcome research that investigates the mechanisms through which auditing and governance impact financial transparency and reliability, as well as studies that examine the implications of regulatory changes on these practices. The topics of interest include, but are not limited to, the detection and prevention of financial misstatements, the influence of governance structures on financial reporting quality and the role of auditor independence in maintaining the integrity of financial information.

The research questions for this publication include, but are not limited to, the following:

  • How do innovative auditing practices contribute to the detection and prevention of financial misstatements?
  • What is the impact of corporate governance mechanisms on the quality of financial reporting?
  • How do regulatory changes influence auditing and corporate governance practices?
  • What role does auditor independence play in ensuring financial reporting quality?
  • How do different regulatory environments affect auditing and governance practices?

We invite original contributions in English that focus on these and related issues. Contributions should provide detailed experimental and theoretical results, and the data and core findings need to be presented in at least one diagram or chart. We encourage papers that employ a variety of research methods, including quantitative, qualitative and mixed-method approaches.

We aim to give attention to a diversity of authors and contexts, and encourage submissions from researchers around the globe.

Dr. Hongkang Xu
Guest Editor

Manuscript Submission Information

Manuscripts should be submitted online at www.mdpi.com by registering and logging in to this website. Once you are registered, click here to go to the submission form. Manuscripts can be submitted until the deadline. All submissions that pass pre-check are peer-reviewed. Accepted papers will be published continuously in the journal (as soon as accepted) and will be listed together on the special issue website. Research articles, review articles as well as short communications are invited. For planned papers, a title and short abstract (about 100 words) can be sent to the Editorial Office for announcement on this website.

Submitted manuscripts should not have been published previously, nor be under consideration for publication elsewhere (except conference proceedings papers). All manuscripts are thoroughly refereed through a single-blind peer-review process. A guide for authors and other relevant information for submission of manuscripts is available on the Instructions for Authors page. Journal of Risk and Financial Management is an international peer-reviewed open access monthly journal published by MDPI.

Please visit the Instructions for Authors page before submitting a manuscript. The Article Processing Charge (APC) for publication in this open access journal is 1400 CHF (Swiss Francs). Submitted papers should be well formatted and use good English. Authors may use MDPI's English editing service prior to publication or during author revisions.

Keywords

  • auditing
  • corporate governance
  • financial reporting quality
  • accountability
  • regulatory changes
  • financial misstatements
  • governance structures
  • auditor independence

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Further information on MDPI's Special Issue policies can be found here.

Published Papers (4 papers)

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Research

20 pages, 264 KiB  
Article
Auditors’ Contribution in Enhancing Non-Quantitative Information Quality
by Evangelos Soras, Stella Zounta and Apostolos G. Christopoulos
J. Risk Financial Manag. 2025, 18(4), 170; https://doi.org/10.3390/jrfm18040170 - 24 Mar 2025
Viewed by 316
Abstract
The purpose of this research is to determine, first, whether an auditor, by conducting a statutory audit of the company’s financial statements, can improve the company’s non-quantitative information quality, and, second, whether the six leading audit firms in Greece improve the non-quantitative information [...] Read more.
The purpose of this research is to determine, first, whether an auditor, by conducting a statutory audit of the company’s financial statements, can improve the company’s non-quantitative information quality, and, second, whether the six leading audit firms in Greece improve the non-quantitative information quality more than other, smaller audit firms. The data are primary, arising from the published financial statements for the period from 2019 to 2022 of 84 companies operating in the agricultural supplies sector. These financial statements were retrieved in January 2024 from the General Commercial Registry of Greece. We have reviewed the management reports of these companies to examine their compliance with Greek legislation requirements on non-quantitative information reporting, i.e., on the entity’s performance, business risk management, and environmental and labor issues. We note that non-quantitative information reporting is improving during the period 2019–2022, regardless of the auditor’s involvement. The average reporting scores of audited companies are higher than the corresponding scores of non-audited companies, so the auditors have significantly improved the non-quantitative information reporting. In addition, the reporting scores of companies audited by six leading audit firms are higher than the corresponding scores of companies audited by the other, smaller audit firms. Full article
(This article belongs to the Special Issue Auditing, Corporate Governance and Financial Reporting Quality)
19 pages, 298 KiB  
Article
Impact of IPSAS Adoption on Governance and Corruption: A Comparative Study of Southern Europe
by Bassam Mohammad Maali and Amer Morshed
J. Risk Financial Manag. 2025, 18(2), 67; https://doi.org/10.3390/jrfm18020067 - 30 Jan 2025
Viewed by 1198
Abstract
This study examines the impact that International Public Sector Accounting Standards adoption might have on governance quality and corruption control in Spain, Portugal, and Italy. IPSAS was designed to globally enhance public transparency and accountability thanks to accrual accounting. However, its effectiveness in [...] Read more.
This study examines the impact that International Public Sector Accounting Standards adoption might have on governance quality and corruption control in Spain, Portugal, and Italy. IPSAS was designed to globally enhance public transparency and accountability thanks to accrual accounting. However, its effectiveness in fighting corruption and steering better governance has varied across institutional contexts and implementation phases. This paper examines, using partial least squares structural equation modeling (PLS-SEM) and comparative analysis, how legal systems, political stability, and anti-corruption measures mediate the relationship. The results indicate that full IPSAS adoption, as in the case of Spain, significantly enhances governance if the institutional framework is solid and, by extension, reduces corruption. Partial adoption, such as that by Portugal, exposes moderate improvements, but Italy, still in the preparation of the process, shows the poorest result. The study identifies that the legal system, along with complementary reforms like capacity building and political stability, is a very crucial factor in enhancing the IPSAS impact. This covers the evidential gaps and provides actionable insights for policymakers, while at the same time underlining institutional strength as a key driver for IPSAS adoption, contributing to broader discussions on advancing public sector accounting reforms. Full article
(This article belongs to the Special Issue Auditing, Corporate Governance and Financial Reporting Quality)
20 pages, 489 KiB  
Article
Audit Quality and Family Ownership: The Mediating Effect of Boards’ Gender Diversity
by Fatma Zehri
J. Risk Financial Manag. 2025, 18(2), 49; https://doi.org/10.3390/jrfm18020049 - 23 Jan 2025
Viewed by 1029
Abstract
This paper investigates the critical role of female directors on the boards of Saudi-listed companies and how they influence the relationship between the demand for higher audit quality and family ownership. The results indicate that female directors fully mediate the relationship between audit [...] Read more.
This paper investigates the critical role of female directors on the boards of Saudi-listed companies and how they influence the relationship between the demand for higher audit quality and family ownership. The results indicate that female directors fully mediate the relationship between audit quality and family ownership. This suggests that the involvement of female directors on boards may enhance the demand for higher audit quality in family-owned firms. These findings corroborate both agency theory, family business, and stakeholder theoretical background. From a practical standpoint, this study offers valuable insights for investors, policymakers, and regulators. It underscores the importance of increasing female representation on the boards of Saudi family-owned firms to promote effective governance and improve organizational transparency. Full article
(This article belongs to the Special Issue Auditing, Corporate Governance and Financial Reporting Quality)
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19 pages, 337 KiB  
Article
Auditors’ Perceptions of the Triggers and Obstacles of Continuous Auditing and Its Impact on Auditor Independence: Insights from Egypt
by Laila Mohamed Alshawadfy Aladwey and Samar El Sayad
J. Risk Financial Manag. 2024, 17(12), 578; https://doi.org/10.3390/jrfm17120578 - 23 Dec 2024
Viewed by 1180
Abstract
Our study explores auditors’ perceptions of the triggers and hurdles of implementing continuous auditing (CA) in Egypt. It also explores auditors’ perceptions of the impact of CA on their independence. A survey of ninety-five auditors working in Big Four and non-Big Four firms [...] Read more.
Our study explores auditors’ perceptions of the triggers and hurdles of implementing continuous auditing (CA) in Egypt. It also explores auditors’ perceptions of the impact of CA on their independence. A survey of ninety-five auditors working in Big Four and non-Big Four firms was conducted to gather data. Descriptive statistics and the Friedman test were used to test our hypotheses. In addition, using the Mann–Whitney U test, we delve deeper into auditors’ perceptions to examine differences across audit firm types. The results reveal that addressing the increasing demand of stakeholders for real-time reporting and enhancing the quality of financial reporting significantly affect auditors’ perceptions of the triggers for adopting CA. In addition, the lack of standards related to CA and the high cost of implementation significantly affect auditors’ perceptions of the obstacles to implementing CA. The lack of clear guidelines regarding the work required in CA and auditing data that the auditors have previously corrected during the CA process is perceived by auditors as among the most significant factors that can impair their independence. The significance of this study stems from the fact that it is one of the few studies to explore continuous auditing practices in developing countries. To the best of our knowledge, this study is one of the first to investigate how CA affects auditor independence in developing countries. Full article
(This article belongs to the Special Issue Auditing, Corporate Governance and Financial Reporting Quality)
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