Audit lags in Scottish local authority financial reporting / Asmah Abdul Aziz and David Heald

Timeliness has been regularly identified as an essential characteristic of effective financial reporting, in both the public and private sectors. This paper systematically investigates the timeliness of Scottish local authority financial reports over the study period 1989-90 to 1995-96. It considers...

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Main Authors:	Abdul Aziz, Asmah, Heald, David
Format:	Article
Language:	English
Published:	Faculty of Accountancy & Accounting Research Institute (ARI) 2004
Subjects:	Malaysia Balance sheet. Financial statements. Corporation reports. Including pro forma statements Public accounting. Auditing
Online Access:	http://ir.uitm.edu.my/id/eprint/13798/ http://ir.uitm.edu.my/id/eprint/13798/1/AJ_ASMAH%20ABDUL%20AZIZ%20MAR%2004.pdf

id	uitm-13798
recordtype	eprints
spelling	uitm-137982016-07-22T07:39:55Z http://ir.uitm.edu.my/id/eprint/13798/ Audit lags in Scottish local authority financial reporting / Asmah Abdul Aziz and David Heald Abdul Aziz, Asmah Heald, David Malaysia Balance sheet. Financial statements. Corporation reports. Including pro forma statements Public accounting. Auditing Timeliness has been regularly identified as an essential characteristic of effective financial reporting, in both the public and private sectors. This paper systematically investigates the timeliness of Scottish local authority financial reports over the study period 1989-90 to 1995-96. It considers how audit lags can be measured and provides descriptive statistics, before setting out its empirical methodology. It innovates in terms of using Fixed Effects regressions and of then reformulating the problem in terms of non-compliance with externally imposed ceilings on audit lags, so that Logit regressions can be estimated. The regression results on audit lag provide a reasonably consistent picture, whether using OLS or Fixed Effects methodology. The auditing variables are shown to be important: audit lag increases when there is an audit qualification, when there is a change in auditor, and when the audit is done by the Accounts Commission (a public body), rather than a private auditor. Faculty of Accountancy & Accounting Research Institute (ARI) 2004 Article PeerReviewed text en http://ir.uitm.edu.my/id/eprint/13798/1/AJ_ASMAH%20ABDUL%20AZIZ%20MAR%2004.pdf Abdul Aziz, Asmah and Heald, David (2004) Audit lags in Scottish local authority financial reporting / Asmah Abdul Aziz and David Heald. Malaysian Accounting Review, 3 (1). pp. 149-170. ISSN 1675-4077
repository_type	Digital Repository
institution_category	Local University
institution	Universiti Teknologi MARA
building	UiTM Institutional Repository
collection	Online Access
language	English
topic	Malaysia Balance sheet. Financial statements. Corporation reports. Including pro forma statements Public accounting. Auditing
spellingShingle	Malaysia Balance sheet. Financial statements. Corporation reports. Including pro forma statements Public accounting. Auditing Abdul Aziz, Asmah Heald, David Audit lags in Scottish local authority financial reporting / Asmah Abdul Aziz and David Heald
description	Timeliness has been regularly identified as an essential characteristic of effective financial reporting, in both the public and private sectors. This paper systematically investigates the timeliness of Scottish local authority financial reports over the study period 1989-90 to 1995-96. It considers how audit lags can be measured and provides descriptive statistics, before setting out its empirical methodology. It innovates in terms of using Fixed Effects regressions and of then reformulating the problem in terms of non-compliance with externally imposed ceilings on audit lags, so that Logit regressions can be estimated. The regression results on audit lag provide a reasonably consistent picture, whether using OLS or Fixed Effects methodology. The auditing variables are shown to be important: audit lag increases when there is an audit qualification, when there is a change in auditor, and when the audit is done by the Accounts Commission (a public body), rather than a private auditor.
format	Article
author	Abdul Aziz, Asmah Heald, David
author_facet	Abdul Aziz, Asmah Heald, David
author_sort	Abdul Aziz, Asmah
title	Audit lags in Scottish local authority financial reporting / Asmah Abdul Aziz and David Heald
title_short	Audit lags in Scottish local authority financial reporting / Asmah Abdul Aziz and David Heald
title_full	Audit lags in Scottish local authority financial reporting / Asmah Abdul Aziz and David Heald
title_fullStr	Audit lags in Scottish local authority financial reporting / Asmah Abdul Aziz and David Heald
title_full_unstemmed	Audit lags in Scottish local authority financial reporting / Asmah Abdul Aziz and David Heald
title_sort	audit lags in scottish local authority financial reporting / asmah abdul aziz and david heald
publisher	Faculty of Accountancy & Accounting Research Institute (ARI)
publishDate	2004
url	http://ir.uitm.edu.my/id/eprint/13798/ http://ir.uitm.edu.my/id/eprint/13798/1/AJ_ASMAH%20ABDUL%20AZIZ%20MAR%2004.pdf
first_indexed	2023-09-18T22:50:19Z
last_indexed	2023-09-18T22:50:19Z
_version_	1777417500057665536

Audit lags in Scottish local authority financial reporting / Asmah Abdul Aziz and David Heald

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