Accounting, Auditing, and Reporting Quality: Challenges Under Uncertainty Conditions

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

Deadline for manuscript submissions: 30 June 2026 | Viewed by 8226

Special Issue Editors


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Guest Editor
Institute of Social Sciences and Applied Informatics, Kaunas Faculty, 44280 Kaunas, Lithuania
Interests: financial accounting; financial accounting theories; taxation; financial and non-financial information disclosure; accounting quality; accounting policy; sustainability reporting

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Guest Editor
Department of Finance, Faculty of Economics and Business Administration, Vilnius University, 10222 Vilnius, Lithuania
Interests: financial accounting; financial and non-financial information disclosure; sustainability reporting; financial fraud; internal control systems; bankruptcy prediction modeling; risk management

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Guest Editor
Institute of Social Sciences and Applied Informatics, Kaunas Faculty, 44280 Kaunas, Lithuania
Interests: management accounting; financial and non-financial information disclosure; budgeting

Special Issue Information

Dear Colleagues,

In an era of unprecedented economic, financial, and geopolitical uncertainty, accounting, auditing, and reporting practices have come to face significant challenges. The aim of this Special Issue is to investigate the evolving landscape of these critical functions in the context of uncertainty. Uncertain conditions, such as economic crises, regulatory shifts, technological disruptions, military conflicts, and environmental risks, put immense pressure on organizations to maintain transparency, accuracy, and compliance in their financial and non-financial practices.

This Issue invites contributions that explore how uncertainty affects accounting standards, auditing quality, and reporting frameworks. We encourage research on adaptive practices, the role of technology, and innovative solutions for enhancing the reliability and relevance of financial information. The integration of sustainability reporting, the impact of emerging technologies such as blockchain and AI, and the role of risk management in ensuring accountability are key points. Theoretical, review, and empirical studies are welcome, with an emphasis on those offering diverse perspectives from both academia and practice.

By addressing these themes, the aim of this Special Issue is to contribute to the advancement of knowledge and provide actionable insights for policymakers, practitioners, and researchers navigating these complex challenges.

Areas of Research:

  • The impact of uncertainty on accounting standards and practices;
  • Auditing challenges in a volatile regulatory and economic environment;
  • The role of technology in enhancing reporting accuracy and audit efficiency;
  • The integration of sustainability and ESG factors in financial reporting;
  • Risk management frameworks for improving reporting quality;
  • Artificial intelligence, blockchain, and digital tools in auditing and accounting;
  • Ethical challenges in financial reporting under uncertainty;
  • Cross-country comparisons of reporting practices under conditions of uncertainty;
  • Corporate governance and its influence on reporting quality;
  • Financial information disclosure compliance with standard requirements;
  • The quality of sustainability auditing and assurance;
  • Accounting information quality and earnings management;
  • And others.

Prof. Dr. Kristina Rudžionienė
Prof. Dr. Rasa Kanapickiene
Dr. Rūta Klimaitienė
Guest Editors

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Keywords

  • accounting quality
  • auditing quality
  • reporting quality
  • auditing practices
  • reporting transparency
  • financial uncertainty
  • regulatory compliance
  • digital transformation in accounting
  • artificial intelligence in auditing
  • sustainable financial reporting
  • global economic volatility
  • non-financial reporting
  • information assurance
  • earnings management
  • information quality

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Published Papers (3 papers)

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Research

14 pages, 271 KB  
Article
The Role of Financial Compensation Oversight Committees in Improving the Financial Performance Governance of Saudi Banks
by Ibrahim Ahmed Elamin Eltahir, Mozamil Awad Taha, Nasareldeen Hamed Ahmed Alnor, Salih Hamid Adam and Eltayeb Hamid Edres Musa
J. Risk Financial Manag. 2025, 18(9), 514; https://doi.org/10.3390/jrfm18090514 - 16 Sep 2025
Viewed by 867
Abstract
This study looks at how oversight committees affect CEO compensation governance and how this affects publicly traded banks’ financial performance. It specifically looks at how compensation committee mandates and structural traits affect how CEO compensation is matched to company performance results. The research [...] Read more.
This study looks at how oversight committees affect CEO compensation governance and how this affects publicly traded banks’ financial performance. It specifically looks at how compensation committee mandates and structural traits affect how CEO compensation is matched to company performance results. The research employs a panel dataset of sample firms across the study period, combining financial performance metrics like return on equity (ROE) and return on assets (ROA). It draws on agency theory and corporate governance theories. In addition to firm-level controls, the research takes into account committee-level factors such independence, experience, frequency of meetings, and ownership. The findings obtained through panel regression methods and testing show that improved pay-performance sensitivity and improved financial performance do not correlate with committee influence, independence, or financial expertise. The importance of empowered oversight committees in reducing interagency conflicts of interest and fostering efficient governance is demonstrated by these findings. By emphasizing how internal governance frameworks can be used to produce long-term organizational goals, the study adds to the discussion surrounding executive compensation. Full article
20 pages, 845 KB  
Article
Review of Prospective Financial Statements: Stationary vs. Forward-Looking Assessments
by Francesco Dainelli and Alessio Mengoni
J. Risk Financial Manag. 2025, 18(6), 290; https://doi.org/10.3390/jrfm18060290 - 23 May 2025
Viewed by 1814
Abstract
Prospective financial statements (PFSs) and their examination have become more and more important in recent years as a result of various regulating pressures and market needs. Despite this growing importance, the literature about PFS review appears to be dated and generic and only [...] Read more.
Prospective financial statements (PFSs) and their examination have become more and more important in recent years as a result of various regulating pressures and market needs. Despite this growing importance, the literature about PFS review appears to be dated and generic and only proposes backward-looking models. This paper examines and integrates the literature, standard setters’ guidelines, and best practices regarding PFS analysis in order to identify the objectives of PFS review and categorize the criteria for its examination. We develop a conceptual and operational framework to achieve the following: (a) we define a structured estimation process in the light of PFS review criteria; (b) we operationalize the estimation process to guide PFS validation. We find that PFS review mainly relies on a consistency analysis between the results of the company analyzed and its drivers, with the aim of identifying reasonable weights of each driver on the forecasts. Our work represents a first attempt to build a method to assess the reasonableness and uncertainty of PFSs under both backward-looking and forward-looking perspectives. It supports auditors and managers in evaluating the likelihood that a company’s plan will ensure business continuity. It also supports external users (banks, analysts, valuers) involved in formulating estimates and corporate valuations based on prospective information. Full article
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18 pages, 766 KB  
Article
Strategic Budgeting and Budgeting Evaluation Effects on China’s Manufacturing Companies’ Performance
by Fengran Zhou, Yaoping Liu, Surachai Triwannakij and Boge Triatmanto
J. Risk Financial Manag. 2025, 18(4), 172; https://doi.org/10.3390/jrfm18040172 - 25 Mar 2025
Cited by 1 | Viewed by 5060
Abstract
This study investigates the interplay between budget planning and budgeting evaluation functions in relation to company budget management performance, specifically focusing on the phenomenon of budgetary slack among manufacturing companies in China. A total of 589 employees, including senior executives and finance managers, [...] Read more.
This study investigates the interplay between budget planning and budgeting evaluation functions in relation to company budget management performance, specifically focusing on the phenomenon of budgetary slack among manufacturing companies in China. A total of 589 employees, including senior executives and finance managers, participated in this study to answer structured questionnaires. Structural Equation Modeling (SEM) was used to test the proposed research hypotheses; furthermore, Hayes’ mediation analysis was applied to assess the direct and indirect effects of budgetary slack in mediating the relationship between the predictor variable (e.g., budget planning and budgeting evaluation) and the outcome variable (budgeting performance). The findings reveal that both budget planning and evaluation significantly mitigate budgetary slack while enhancing the overall budget management performance. The results suggest that effective budgeting performance is positively influenced by the quality of budget planning and evaluation functions, which directly and indirectly reduce budgetary slack. Such evidence underscores the critical role of the budgeting management process in achieving optimal budgeting performance, with budgeting evaluation serving as a catalyst for constructive feedback to prevent slack. This study advocates for companies to strengthen the alignment between their budgeting processes and budgeting strategies. Furthermore, this research provides a comprehensive strategy that integrates technology, strategic budget management, and financial governance, equipping business entities to navigate and thrive in a dynamic economic landscape. Full article
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