Timeliness of financial reporting: Evidence from UAE

The objective of this study is to examine the extent of audit report lag (ARL) in the United Arab Emirates (UAE). The ARL is well defined in the literature as the number of days between the date of the financial year end and the date of the audit report. The data of the study consists of 298 observa...

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Main Authors:	Al-Muzaiqer, Mohammed Ali Hussein, Ahmad, Maslina, Abdul Hamid, Fatima
Format:	Conference or Workshop Item
Language:	English
Published:	2016
Subjects:	HF5601 Accounting. Bookkeeping
Online Access:	http://irep.iium.edu.my/51996/ http://irep.iium.edu.my/51996/6/51996.pdf

id	iium-51996
recordtype	eprints
spelling	iium-519962016-09-23T01:33:04Z http://irep.iium.edu.my/51996/ Timeliness of financial reporting: Evidence from UAE Al-Muzaiqer, Mohammed Ali Hussein Ahmad, Maslina Abdul Hamid, Fatima HF5601 Accounting. Bookkeeping The objective of this study is to examine the extent of audit report lag (ARL) in the United Arab Emirates (UAE). The ARL is well defined in the literature as the number of days between the date of the financial year end and the date of the audit report. The data of the study consists of 298 observations from listed companies on the UAE capital markets; Abu Dhabi Securities Exchange (ADX) and Dubai Financial Market (DFM), for three years from 2011 to 2013. Based on the sample data analyzed, the results show that listed companies in the UAE took on average of 60 days to announce their audited financial reports in 2011, 57 days in 2012 and 51 days in 2013, which are within the allowable period required by the regulators in UAE. Even though the overall result seems favorable, it is only based on 87%, 89% and 63% of companies whose annual reports are available on the websites of ADX and DFM for 2011, 2012 and 2013 respectively. These results perhaps indicate a low compliance of reporting requirements among listed companies in UAE. Since both markets can be considered new (established in 2000), monitoring of reporting requirement may not be as stringent as the established markets. As timely information release is necessary for effective investment decisions and a well-functioning financial market, the respective regulators should make it compulsory for the listed companies to announce their financial reports in the market’s website on timely basis and ensure that proper monitoring activities are in place. 2016-08 Conference or Workshop Item NonPeerReviewed application/pdf en http://irep.iium.edu.my/51996/6/51996.pdf Al-Muzaiqer, Mohammed Ali Hussein and Ahmad, Maslina and Abdul Hamid, Fatima (2016) Timeliness of financial reporting: Evidence from UAE. In: International Conference on Accounting Studies (ICAS) 2016, 15-18 August 2016, Langkawi, Kedah, Malaysia. (Unpublished)
repository_type	Digital Repository
institution_category	Local University
institution	International Islamic University Malaysia
building	IIUM Repository
collection	Online Access
language	English
topic	HF5601 Accounting. Bookkeeping
spellingShingle	HF5601 Accounting. Bookkeeping Al-Muzaiqer, Mohammed Ali Hussein Ahmad, Maslina Abdul Hamid, Fatima Timeliness of financial reporting: Evidence from UAE
description	The objective of this study is to examine the extent of audit report lag (ARL) in the United Arab Emirates (UAE). The ARL is well defined in the literature as the number of days between the date of the financial year end and the date of the audit report. The data of the study consists of 298 observations from listed companies on the UAE capital markets; Abu Dhabi Securities Exchange (ADX) and Dubai Financial Market (DFM), for three years from 2011 to 2013. Based on the sample data analyzed, the results show that listed companies in the UAE took on average of 60 days to announce their audited financial reports in 2011, 57 days in 2012 and 51 days in 2013, which are within the allowable period required by the regulators in UAE. Even though the overall result seems favorable, it is only based on 87%, 89% and 63% of companies whose annual reports are available on the websites of ADX and DFM for 2011, 2012 and 2013 respectively. These results perhaps indicate a low compliance of reporting requirements among listed companies in UAE. Since both markets can be considered new (established in 2000), monitoring of reporting requirement may not be as stringent as the established markets. As timely information release is necessary for effective investment decisions and a well-functioning financial market, the respective regulators should make it compulsory for the listed companies to announce their financial reports in the market’s website on timely basis and ensure that proper monitoring activities are in place.
format	Conference or Workshop Item
author	Al-Muzaiqer, Mohammed Ali Hussein Ahmad, Maslina Abdul Hamid, Fatima
author_facet	Al-Muzaiqer, Mohammed Ali Hussein Ahmad, Maslina Abdul Hamid, Fatima
author_sort	Al-Muzaiqer, Mohammed Ali Hussein
title	Timeliness of financial reporting: Evidence from UAE
title_short	Timeliness of financial reporting: Evidence from UAE
title_full	Timeliness of financial reporting: Evidence from UAE
title_fullStr	Timeliness of financial reporting: Evidence from UAE
title_full_unstemmed	Timeliness of financial reporting: Evidence from UAE
title_sort	timeliness of financial reporting: evidence from uae
publishDate	2016
url	http://irep.iium.edu.my/51996/ http://irep.iium.edu.my/51996/6/51996.pdf
first_indexed	2023-09-18T21:13:43Z
last_indexed	2023-09-18T21:13:43Z
_version_	1777411423175966720

Timeliness of financial reporting: Evidence from UAE

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