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Advances in Accounting, Auditing and Finance
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Advances in Accounting, Auditing and Finance

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

Deadline for manuscript submissions: closed (30 September 2023) | Viewed by 18428

Special Issue Editors

Dr. Mohamed Saeudy

E-Mail Website
Guest Editor
University of Bedfordshire Business School, University of Bedfordshire, University Square, Luton, Bedfordshire, UK
Interests: sustainable accounting and finance; narrative reporting; UN sustainable Development Goals; climate change; modern slavery; financial innovation and entrepreneurship; financial inclusion; accounting for big data; financial data analytics and ecological biodiversity
Dr. Khaldoon Albitar

E-Mail Website
Guest Editor
Faculty of Business and Law, University of Portsmouth, Portsmouth P01 3DE, UK
Interests: corporate disclosure; social and environmental responsibility; integrated reporting; corporate governance; reporting quality
Special Issues, Collections and Topics in MDPI journals

Special Issue Information

Dear Colleagues,

In this Special Issue, we are interested in bringing together rigorous manuscripts that advance innovative financial perspectives in accounting, auditing, and finance research. We are looking forward to receiving manuscripts featuring original research that involve innovative perspectives in accounting, auditing, and finance. We call for manuscripts that deal with big data governance, sustainability, financial innovation to uncover the underlying business practices and market circumstances.

This call encourages research papers on innovative approaches toward the radical shifts in sustainable business models. We are interested in conceptual, theoretical, methodological, empirical, case studies, and systematic review studies. In addition, this call encourages research papers on innovative approaches toward the radical shifts in sustainable business models. 

Dr. Mohamed Saeudy
Dr. Khaldoon Albitar
Guest Editors

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

  • financial inclusion
  • financial technology
  • financial entrepreneurship
  • financial management
  • Corporate Social Responsibility (CSR)
  • data analytics and big data and accounting
  • big data and corporate reporting
  • big data and auditing
  • big data governance
  • financial risk management
  • sustainable business models
  • big data and online businesses
  • advanced technologies
  • corporate disclosure
  • big data and accountability
  • big data and climate governance
  • advances in accounting and auditing practices
  • artificial intelligence
  • auditing quality
  • blockchain accounting
  • UN Sustainable Development Goals
  • Islamic Financial Institutions (IFIs)
  • socially responsibly investment

Published Papers (7 papers)

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Research

34 pages, 2240 KiB  
Article
How Company Characteristics Influence Measurement Practices and Disclosure Level Prescribed within IAS 41
by Mohammad Saleh Altarawneh
J. Risk Financial Manag. 2023, 16(6), 288; https://doi.org/10.3390/jrfm16060288 - 29 May 2023
Viewed by 1417
Abstract
This research paper describes the accounting practices of Jordanian companies engaged in agricultural activities, and identifies the influence of company characteristics on measurement practices related to asset pricing and level of disclosure required by IAS 41. Company characteristics were considered as: size, intensity [...] Read more.
This research paper describes the accounting practices of Jordanian companies engaged in agricultural activities, and identifies the influence of company characteristics on measurement practices related to asset pricing and level of disclosure required by IAS 41. Company characteristics were considered as: size, intensity of biological assets (BA), level of international activities, and audit for the Big Four. Dependent variables were considered measurement practices related to valuing BA as well as resultant harvest and disclosure level, the latter being measured by mandatory and voluntary disclosures. The entire population of companies that include one or more agricultural activities in their purposes and are considered reporting companies formed the research sample, giving a total of 259 companies. The findings revealed that both intensity of BA and level of international activities have a positive impact on measurement practices. Audit for the Big Four was the strongest variable influence, the overall disclosure level prescribed by IAS 41, followed by the level of international activities variable. However, the intensity of the BA variable affects only the overall disclosure level for companies that measure their BA based on the cost method. Firm size was found to have no influence on either measurement practices or disclosure level. The key value of this paper is its examination of the role of company characteristics on measurement practices and level of disclosure required by IAS 41 in the context of Jordanian companies. Through this examination, this study is helpful to standards setters and regulators who obligate and issue the financial regulation and reporting standards at a national or international level, supporting their understanding of measurement and disclosure practices adopted in agricultural companies in the developing country context of Jordan. Full article
(This article belongs to the Special Issue Advances in Accounting, Auditing and Finance)
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13 pages, 241 KiB  
Article
Evaluation of Internal Audit Standards as a Foundation for Carrying out and Promoting a Wide Variety of Value-Added Tasks-Evidence from Emerging Market
by Osama Samih Shaban and Abdallah Izzat Barakat
J. Risk Financial Manag. 2023, 16(3), 185; https://doi.org/10.3390/jrfm16030185 - 09 Mar 2023
Viewed by 2586
Abstract
This research paper aims to evaluate the effectiveness of internal audit standards as a foundation for carrying out and promoting a wide variety of value-added tasks in emerging markets. Three Jordanian telecommunications firms were the subject of the study. In each firm, the [...] Read more.
This research paper aims to evaluate the effectiveness of internal audit standards as a foundation for carrying out and promoting a wide variety of value-added tasks in emerging markets. Three Jordanian telecommunications firms were the subject of the study. In each firm, the non-executive directors, who serve on the Audit Committee, also received a questionnaire that was designed for this objective. In total 85 questionnaires were accepted and analyzed using traditional statistical methods such as descriptive statistics, arithmetic means, standard deviations, and percentages, and resolution data were examined using the statistical application SPSS. According to the annual report for the year 2021, telecommunication businesses generally followed IIA International Internal Audit Standards. Application Standards were employed to a high degree in second place, after Attribute Standards, which were used primarily in the first place. In those firms, performance standards were not used. The study also found that this form of application is moderately constrained by a few challenges and barriers. The study recommended that these organizations broaden the scope and scale of internal auditing standards, particularly performance requirements. Finally, the generalization of research findings is limited because the study is limited to three Jordanian telecommunication companies. Full article
(This article belongs to the Special Issue Advances in Accounting, Auditing and Finance)
17 pages, 316 KiB  
Article
Camouflaged Compensation: Do South African Executives Increase Their Pay through Share Repurchases?
by Gretha Steenkamp, Nicolene Wesson and Eon v. d. M. Smit
J. Risk Financial Manag. 2023, 16(3), 177; https://doi.org/10.3390/jrfm16030177 - 07 Mar 2023
Cited by 2 | Viewed by 1038
Abstract
Increasingly, researchers in developed economies are associating the exponential growth in share repurchases with executives’ desire to increase company share price and thus the value of their own share-based compensation. As research on this topic in emerging economies is sparse, this paper investigates [...] Read more.
Increasingly, researchers in developed economies are associating the exponential growth in share repurchases with executives’ desire to increase company share price and thus the value of their own share-based compensation. As research on this topic in emerging economies is sparse, this paper investigates the relationship between share repurchases and executive share-based compensation in South Africa. Certain weaknesses in South African corporate governance relating to share repurchases exacerbate the risk of camouflaged rent extraction and unethical behaviour. Regression analyses were executed, using data on share repurchases and executive share-based compensation variables for listed South African companies for the period 2002–2017. Statistically significant positive relationships were identified between share repurchases and executive share-based compensation. The results support the proposition that South African executives may be repurchasing shares in a bid to increase the value of their share-based compensation (in line with the managerial power theory), rather than maximising long-term shareholder value. This paper emphasises the need for improved corporate governance relating to share repurchases in South Africa. Given the income inequality in South Africa, the findings also have social justice implications. Full article
(This article belongs to the Special Issue Advances in Accounting, Auditing and Finance)
17 pages, 2059 KiB  
Article
An IFRS Decision Heuristic—A Model for Accounting for Credit Card Rewards Programme Transactions
by Sophia M. Brink and Gretha Steenkamp
J. Risk Financial Manag. 2023, 16(3), 169; https://doi.org/10.3390/jrfm16030169 - 02 Mar 2023
Viewed by 1965
Abstract
Guidance on the appropriate accounting treatment of a credit card rewards programme (CCRP) transaction after the effective date of IFRS 15 is needed due to current uncertainty and inconsistencies. The objective of the research was to develop a theoretical model for the accounting [...] Read more.
Guidance on the appropriate accounting treatment of a credit card rewards programme (CCRP) transaction after the effective date of IFRS 15 is needed due to current uncertainty and inconsistencies. The objective of the research was to develop a theoretical model for the accounting treatment of CCRP transactions after the effective date of IFRS 15 by considering the relevant literature, including IFRS. This non-empirical qualitative literature study utilised document analysis and model building to construct the theoretical model. To provide practical guidelines in accounting for a CCRP transaction, a model embedded in a decision tree was developed as a heuristic to provide for various possible accounting treatments. It was found that a CCRP transaction can be accounted for in terms of IAS 37 Provisions, Contingent Liabilities and Contingent Assets (as an expense and provision), in terms of IFRS 9 Financial instruments (as an expense and financial liability), or in terms of IFRS 15 Revenue from contracts with customers (as a deferred revenue). The value of this article is that it provides answers in a clear and concise matter on a single page dealing with all the various elements of a CCRP transaction that impacts the accounting treatment. The CCRP theoretical model developed could eliminate uncertainty amongst CCRP management and increase the decision-usefulness of financial information. Full article
(This article belongs to the Special Issue Advances in Accounting, Auditing and Finance)
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44 pages, 1675 KiB  
Article
Designing a Characteristics Effectiveness Model for Internal Audit
by Steven Grima, Peter J. Baldacchino, Simon Grima, Murat Kizilkaya, Norbert Tabone and Lauren Ellul
J. Risk Financial Manag. 2023, 16(2), 56; https://doi.org/10.3390/jrfm16020056 - 17 Jan 2023
Cited by 2 | Viewed by 5710
Abstract
Identifying factors/latent constructs deemed to influence internal audit effectiveness (IAE), through identifying variables used as measures of effectiveness and hypothesising which variables have a statistically significant relationship with IAE was the primary objective. Secondary objectives involved exploring the perceptions and viewpoints of internal [...] Read more.
Identifying factors/latent constructs deemed to influence internal audit effectiveness (IAE), through identifying variables used as measures of effectiveness and hypothesising which variables have a statistically significant relationship with IAE was the primary objective. Secondary objectives involved exploring the perceptions and viewpoints of internal auditing and providing general recommendations. To achieve the above objectives, questionnaires were remitted to internal auditors (IA) in various countries, receiving 402 final valid responses. Exploratory factor analysis (EFA) was carried out to identify new latent variables/constructs, with confirmatory factor analysis (CFA) in structural equation modelling (SEM) utilised to confirm these factors. The EFA process identified 7 latent factors, with 5 being confirmed through SEM. These factors, confirmed the positive influence of 8/16 hypotheses with 3/16 having partial confirmation, 4/16 not achieving any statistically significant evidence and 1/16 having negative influence. Risk Management, IA size, competency, management support, External Audit (EA) and Audit Committee (AC) cooperation, follow-up process, and control environment were all deemed to positively influence IA effectiveness. Independence, objectivity, and standard adherence achieved partial confirmation of their positive influence. Audit quality, Big Data, scope limitations and public/private organisations achieved no statistically significant results on their influence, while outsourcing was deemed to negatively influence effectiveness. Full article
(This article belongs to the Special Issue Advances in Accounting, Auditing and Finance)
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15 pages, 321 KiB  
Article
Disclosure of Risks and Opportunities in the Integrated Reports of South African Banks
by Khuthadzo Ramabulana and Riyad Moosa
J. Risk Financial Manag. 2022, 15(12), 551; https://doi.org/10.3390/jrfm15120551 - 24 Nov 2022
Cited by 1 | Viewed by 2076
Abstract
This study examined the disclosure of risks and opportunities in the integrated reports (IRs) of the top five banks in South Africa. It assesses whether the risk and opportunity disclosures provided comply with the requirements of the International Integrated Reporting Framework (IIRF), as [...] Read more.
This study examined the disclosure of risks and opportunities in the integrated reports (IRs) of the top five banks in South Africa. It assesses whether the risk and opportunity disclosures provided comply with the requirements of the International Integrated Reporting Framework (IIRF), as well as the nature of the risks and opportunities disclosed in the IR. This study takes a qualitative approach and employs an interpretivist paradigm. The information for this study was obtained through content analysis of the individual banks’ latest available IRs. A checklist was created as a measuring tool to evaluate disclosure practices. The findings showed that three of the selected banks disclosed all the requirements contained in the IIRF regarding risks and opportunities, while two banks only partially complied as they did not provide disclosures about their opportunities. The findings concerning the nature of risk disclosures show that the selected banks disclosed 38 themes related to risks, and the findings concerning the nature of opportunity disclosures show that the selected banks disclosed 14 themes related to opportunities. Furthermore, the results show that those in charge of preparing the IRs provide a thorough disclosure of risks, while there is room for improvement concerning disclosure of opportunities. Full article
(This article belongs to the Special Issue Advances in Accounting, Auditing and Finance)
15 pages, 1956 KiB  
Article
Assessing the Decision Usefulness of Integrated Reports of Namibian Listed Companies
by Daniel W. Kamotho, Tankiso S. Moloi and Simone Halleen
J. Risk Financial Manag. 2022, 15(9), 383; https://doi.org/10.3390/jrfm15090383 - 26 Aug 2022
Cited by 1 | Viewed by 2087
Abstract
The study evaluates the decision usefulness of integrated reports by listed Namibian companies using specially designed control checklists. A manual content analysis of the sampled 2018–2019 integrated reports was performed, using the control checklists for the decision usefulness’ qualitative characteristics. The study finds [...] Read more.
The study evaluates the decision usefulness of integrated reports by listed Namibian companies using specially designed control checklists. A manual content analysis of the sampled 2018–2019 integrated reports was performed, using the control checklists for the decision usefulness’ qualitative characteristics. The study finds that the integrated reports produced in Namibia are generally decision useful, though the reports’ usefulness varies from company and industry. The study’s findings have policy implications, such as the need to prepare integrated reports for decision-making. The findings also provide detailed insights into the decision usefulness and quality of the Namibian listed companies’ integrated reports and can serve as feedback for companies, especially the report preparers. This study has ramifications for company leadership (e.g., financial managers, boards) and regulators, as it urges businesses to produce decision-useful annual integrated reports if they want their transparency disclosures to be viewed as “informative” by their significant stakeholders, thus improving the decision usefulness of their corporate reports. Full article
(This article belongs to the Special Issue Advances in Accounting, Auditing and Finance)
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