Timeliness Of Reports Research Articles

Audit reports timeliness: Empirical evidence from Tunisia

AbstractTimeliness of corporate annual financial reports is considered to be a critical and important factor affecting the usefulness of information that is made available to external users. The purpose of this paper is to examine the relationship between corporate governance, external auditor’s characteristics index, and timeliness in light of the recent amendments to the Financial Security Law (2005) in Tunisia. The paper uses panel data methodology of 28 Tunisian companies listed on the Tunisian Stock Exchange over the period 2006–2013. This study concludes that the good structures of corporate governance play a key role in improving the quality of timeliness of financial reports. As for the empirical tests, they appear to indicate that whenever the audit report publication date proves to be short, the external auditor’s characteristics index is discovered to be high.

The Association between Industry Specialist Auditor and Financial Reporting Timeliness - Post MFRS Period

This study examines audit report lag as one of the mechanisms to measure timeliness of financial reporting. The convergence of International Financial Reporting Standards (IFRS) with Malaysian Financial Reporting Standards (MFRS) might challenge the auditors to issue their listed clients’ audited financial statements on time. The presence of industry specialist auditors is believed to be able to reduce the audit report lag and subsequently enhance financial reporting timeliness. The overall results of the study suggest that the appointment of industry specialist auditors to undertake auditing work under full MFRS convergence improves financial reporting timeliness.

Audit quality and earnings management in less developed economies: the case of Saudi Arabia

This paper aims to determine if significant associations exist between audit quality and earnings management in less developed economies, providing their various shortcomings and differences. Five different measures of audit quality (auditor size, auditor industry specialization, auditor opinion, auditor change and timeliness of auditor report) were examined based on a sample of 337 non-financial Saudi listed firms from 2006 to 2009. The absolute value of discretionary accruals is used as a proxy for earnings management by using a cross-sectional variation of the Kothari model. The results of this research indicate that only auditor opinion indicates earnings management practice. The results support the argument that auditors are powerless in front of managerial opportunistic activities. Issues that may impair audit quality in Saudi Arabia are discussed.

Board characteristics, ownership structure and audit report lag in the Middle East

Timeliness of corporate annual financial reports has a significant importance for users of financial statements. Timeliness of financial reporting of companies is considered to be a critical factor that affects the usefulness of information that helps the external users. This paper goes beyond the standard audit report lag studies by incorporating board characteristics and ownership structure variables into the determinants of financial reporting timeliness. The sample of this study comprises of 201 companies for the period from 2009 to 2013 that cover 11 countries of S&P Pan Arab index. Ordinary Least Square (OLS) and Ridge regression analysis are performed to test the audit report timeliness determinants. This study examines the effect of board characteristics, ownership structure, audit type, firm size, firm age, leverage and firm profitability on audit report timeliness. The results reveal that the higher percentage of companies releasing their audit report in less than 60 days and are audited by big four firms shows that big four firms are characterized by a higher audit quality. A regression analysis indicates that CEO duality, board size, board independence, ownership concentration, institutional ownership, foreign ownership, auditor type, return on assets, and firm age significantly affect audit report lag.

The Use of Social Media for Strengthening the Program Management and Service Delivery in ART Centers: Experience from India

Issue: As supply chain of ARVs is decentralized, more focused monitoring and mentoring of the ART centers is needed to ensure regular availability of the ARV drugs, undertake timely relocations and to avoid any stock outs. Activities: A group was created in “WhatsApp” that had pharmacist from 27 ART centers providing ART to 44593 PLHA, in Gujarat, India. They were mentored and capacitated to address key issues and suggest solutions to complement and strengthen the existing National ARV recording and reporting system. Results: The group had high acceptability amongst users who utilized it for: 1. Mentoring on new reporting formats, and correct compilation of stock reports 2. Reminder for reports 3. Stock/consumption reporting channel, with internet failure 4. Confirmation of drug relocations Correctness of the reports improved immediately in 30% centers, and 25/27 centers reported immediately in new adopted format in 1 week and 100% centers in 3 weeks. Group reminders increased the timeliness of ARV stock reports, with >90% reports on time. In 8 instances of inability to send report by email, centers transmitted information using the group. On 20 occasions members used group to inform about impending shortage needing urgent relocation. Around 200 relocations acknowledged in group provided real time information. 46 communications demanded immediate attention- 40 regarding receipt/shortage, 6 about relocation to prevent possible expiry of any drug. Lessons learned: Decentralization of ART poses several challenges and use of social platforms like ‘WhatsApp” can be effective mentoring mechanism, in complementing the national reporting systems.

Evaluating an incentive based syndromic case reporting model using local health volunteers for predicting and preventing chikungunya epidemics in North Kerala, India

Background: We attempted to explore the utility of incentive based syndromic surveillance for chikungunya, by identifying, training and utilizing female health volunteers and testing its adaptability in a low resource setting . Methods: A prospective evaluation of the syndromic reporting model was done in five selected urban and two rural units of Kozhikode district in North Kerala. Since large gaps were identified in the district health system reports of CKG for 2009 epidemic, an incentive based reporting and intervention model was developed which functioned independently from the official reporting systems by training health volunteers. For comparison baseline fever levels were generated using 5 year district health system data, calculating Z-scores. Statistical forecasting using time series analysis was done in both rural areas for the year 2011. Official IDSP and health volunteer fever reports were compared to predicted fever counts for 2011.Timeliness and completeness of reporting units and completeness of case reporting was monitored by WHO inventory method. Results: The current reporting model detected higher fever counts compared to the official data. For every 100 fever counts by the LHVs only 15 fever counts were reported by the official health system. Timeliness and completeness of reporting units exceeded 70% and completeness of case reporting 75% . Conclusions: The present study reiterated the ability of syndromic surveillance in detecting and monitoring out breaks. Timeliness and completeness of reports goes to prove the effectiveness of incentive based reporting system at the regional level. Incentive based disease surveillance and reporting at grass root levels, is effective in detecting early outbreaks triggering a reactive community participation leading to prompt disease containment measures and is applicable in resource poor settings.

CEO characteristics and audit report timeliness: do CEO tenure and financial expertise matter?

Purpose – This paper aims to hypothesise that demographic characteristics of managers play a significant role in performing their duties amongst which is financial reporting. This study aims to examine whether CEO characteristics, namely, tenure and financial expertise, are associated with audit report timeliness. Design/methodology/approach – Data from companies listed on the Oman capital market between 2007 and 2011 and three proxies for audit report timeliness are used. Findings – CEO tenure and CEOs with financial expertise are reported to be associated with timely audit reports. Supplementary tests also confirmed this result. In addition, it is suggested and documented that there is an interaction effect between CEO tenure and financial expertise concerning the timeliness of audit reports. The use of a two-stage least square analysis also supported the main results. Research limitations/implications – Hypotheses were tested using data from Oman with a relatively small sample size. Therefore, only a few characteristics of the CEO were considered and a more sophisticated approach of testing managers’ effect on company policies was unable to be used. In addition, the generalisability of the study findings should be made carefully. Originality/value – This paper differs from prior studies, in that it extends the audit report timeliness literature by examining whether the CEO tenure and CEOs with financial expertise are associated with audit report timeliness. Findings demonstrate that CEO characteristics are important factors for a timely audit report.

Data reporting constraints for the lymphatic filariasis mass drug administration activities in two districts in Ghana: A qualitative study.

Objectives:Timely and accurate health data are important for objective decision making and policy formulation. However, little evidence exists to explain why poor quality routine health data persist. This study examined the constraints to data reporting for the lymphatic filariasis mass drug administration programme in two districts in Ghana. This qualitative study focused on timeliness and accuracy of mass drug administration reports submitted by community health volunteers.Methods:The study is nested within a larger study focusing on the feasibility of mobile phone technology for the lymphatic filariasis programme. Using an exploratory study design, data were obtained through in-depth interviews (n = 7) with programme supervisors and focus group discussions (n = 4) with community health volunteers. Results were analysed using thematic content analysis.Results:Reasons for delays in reporting were attributed to poor numeracy skills among community health volunteers, difficult physical access to communities, high supervisor workload, poor adherence reporting deadlines, difficulty in reaching communities within allocated time and untimely release of programme funds. Poor accuracy of data was mainly attributed to inadequate motivation for community health volunteers and difficulty calculating summaries.Conclusion:This study has shown that there are relevant issues that need to be addressed in order to improve the quality of lymphatic filariasis treatment coverage reports. Some of the factors identified are problems within the health system; others are specific to the community health volunteers and the lymphatic filariasis programme. Steps such as training on data reporting should be intensified for community health volunteers, allowances for community health volunteers should be re-evaluated and other non-monetary incentives should be provided for community health volunteers.

How Do Noninvasive Imaging Facilities Perceive the Accreditation Process? Results of an Intersocietal Accreditation Commission Survey.

The Intersocietal Accreditation Commission (IAC) accredits vascular, echocardiography, nuclear medicine, computed tomography, and magnetic resonance imaging laboratories. How facilities involved in the accreditation process view accreditation is unknown. The objective of this study was to examine the perception of laboratory accreditation from those who had undergone the process. An electronic survey request was sent to all facilities that had received IAC accreditation at least once. Demographic information, as well as opinions on the perceived value of accreditation as it relates to 15 quality metrics was acquired. Responses were obtained from 2782 facilities. Of the 15 quality metrics examined, the process was perceived as leading to improvements by a majority of respondents for 10 (67%) metrics including: report standardization, adherence to guidelines, test standardization, report completeness, identification of deficiencies, improved staff knowledge, report timeliness, distinguished facility, correction of deficiencies, and image quality. Overall, the perceived improvement was greater for hospital-based facilities (global 66% vs 59%; P < 0.001). Survey data demonstrate that the accreditation process has a positive perceived impact on the majority of examined metrics. These findings suggest that those undergoing the process find value in accreditation.

Facility perception of nuclear cardiology accreditation: Results of an Intersocietal Accreditation Commission (IAC) survey

BackgroundThe Medicare Improvements for Patients and Providers Act requires accreditation for all non-hospital suppliers of nuclear cardiology, nuclear medicine, and positron emission tomography (PET) studies as a condition of reimbursement. The perceptions of these facilities regarding the value and impact of the accreditation process are unknown. We conducted an electronic survey to assess the value of nuclear cardiology accreditation. MethodsA request to participate in an electronic survey was sent to the medical and technical directors (n = 5,721) of all facilities who had received Intersocietal Accreditation Commission (IAC) Nuclear/PET accreditation. Demographic information, as well as, opinions on the value of accreditation as it relates to 16 quality metrics was obtained. ResultsThere were 664 (11.6%) respondents familiar with the accreditation process of which 26% were hospital-based and 74% were nonhospital-based. Of the quality metrics examined, the process was perceived as leading to improvements by a majority of all respondents for 10 (59%) metrics including report standardization, report completeness, guideline adherence, deficiency identification, report timeliness, staff knowledge, facility distinction, deficiency correction, acquisition standardization, and image quality. Overall, the global perceived improvement was greater for hospital-based facilities (63% vs 57%; P < .001). Ninety-five percent of respondents felt that accreditation was important. Hospital-based facilities were more likely to feel that accreditation demonstrates a commitment to quality (43% vs 33%, P = .029), while nonhospital-based facilities were more likely to feel accreditation is important for reimbursement (50% vs 29%, P≤ .001). ConclusionAlthough the accreditation process is demanding, the results of the IAC survey indicate that the accreditation process has a positive perceived impact for the majority of examined quality metrics, suggesting the facilities find the process to be valuable.

Implementing and evaluating e-communication to improve intersectoral cooperation between hospitals and local communities

Background: There has been an increased focus on how to improve the quality of care to patients that receives services from more than one sector in the health care system. An important factor is rapid and timely exchange of communication between hospitals and communities that provides services for the patient. The Region of Southern Denmark has implemented e-communication to improve the intersectoral cooperation. Communities and hospitals in the Region of Southern Denmark agreed to adhere to specified quality standards for the content and timeliness of information exchange in-between the two sectors. The initiative was initiated in 2009 and the quality standards are continuously revised. Aim: To evaluate to which degree the specified quality standards have been complied. Method: An explicit audit performed in all local communities and at selected hospital departments from all five hospital units in the Region of Southern Denmark focusing on: • timeliness and content of hospital admission report from the communities • timeliness and content of correspondence messages from hospitals to communities These informations are registered in a form by the recipient of the information. Data will be analysed at the regional Centre for Quality. Results from each hospital and local communities will be presented at local audit meetings, in which challenges and initiatives to address those are discussed. Results: The audit is ongoing and results will be presented at the conference

FAKTOR-FAKTOR YANG BERPENGARUH TERHADAP AUDIT REPORT LAG (STUDI EMPIRIS PADA EMITEN INDUSTRI KEUANGAN DI BEI)

The timeliness of annual reports depend on the timeliness of auditor’s performance. The more timeline of publishing annual reports, more benefit can be delivered. This research investigates the factors influencing audit report lag in Indonesia. Sample of the research comprises 42 companies listed in Indonesian Stock Exchange during the year of 2010. The audit report lag for each sample companies ranged from a minimum interval of 25 days to a maximum interval of 129 days and 72 days in the average. Five hypotheses relating audit report lag to company size, profitability, leverage, auditor size, and audit opinion are tested in the research. The results of multiple linear regression support the alternate hypotheses put before except for the company size and leverage.&#x0D; &#x0D; Keywords: audit report lag, company size, profitability, leverage, auditor size, audit opinion.

Debt Specialization and Information Opaqueness

In this study, we suggest that level of information opaqueness determines the propensity of publicly listed firms to have debt financing from only a few debt types (i.e., debt specialization). Using accruals quality as a proxy for information opaqueness, we find that the degree of debt specialization is lower for firms with high-quality accruals. This result is consistent with the notion that information collection and monitoring costs are higher for firms that have higher informational opacity, explaining the tendency toward debt specialization. We further argue that the demand for monitoring by creditors is lower for firms with intensified institutional monitoring. The empirical findings show that firms with more concentrated institutional owners are more likely to be less specialized by debt type and that debt specialization is less sensitive to accruals quality in such firms. Using earnings timeliness and readability of annual reports as alternative proxies for information quality, we confirm the higher propensity to concentrate debt claims by type. We further examine how debt specialization changes following the arrival of bad news and find that the debt structure is more sensitive to accruals quality following the issuance of SEC letters regarding reporting deficiencies.

Timeliness of Chlamydia Laboratory and Provider Reports: A Modern Perspective

Communicable disease reporting remains a challenging task for public health. To understand modern reporting behaviors and challenges, we investigated a sample of chlamydia laboratory and provider communicable disease documentation sent to a local health department. We measured the delay between a chlamydia positive test result and when reports were sent to public health in addition to comparing the results to state law. Laboratory reporting has improved given the adoption of electronic lab reporting. However, provider reports still lag and tend to be fax-based. Given the movement towards electronic health record (EHR) systems, health IT platforms may further improve the timeliness of public health reporting.

PENGARUH TIPE LAPORAN KEUANGAN, PROFITABILITAS, LIKUIDITAS, RASIOUTANG PERUSAHAAN DAN PERGANTIAN AUDITOR TERHADAP TIMELINESS LAPORAN KEUANGAN

The purpose of this study was to determine the effect of type of financial statements, profitability,liquidity, corporate debt ratio, and the turn of the auditor on the timeliness of financial reports. The research method is descriptive with quantitative approach. Data of this research is secondary datathat the financial statements of companies listed in the LQ-45 index over the three years from 2011 to 2013 obtainedfrom www.idx.co.id. The data were analyzed using logistic regression with SPSS 22.0 software. The results of this study indicate that the type of change of auditor of financial statements andsignificant effect while the ratio of corporate debt significantly negative influence, profitability and liquidity does notaffect the timeliness of financial reports. In general it can be concluded that the financial statements only type variable that influence thetimeliness of financial reports. For further research is expected to use other variables that affect the timeliness offinancial reports.

The Impact of Internal Corporate Governance on the Timeliness of Financial Reports of Jordanian Firms: Evidence using Audit and Management Report Lags

This study explores the influence of board independence, board size, CEO duality, board diligence, board financial expertise and presence of audit committee as well as the type of sector on the timeliness of financial reports among selected Jordanian companies. The timeliness of the financial reports is measured by audit report lag (ARL) and management report lag (MRL). This study covers 112 firms listed on the Amman Stock Exchange for the years 2011 and 2012. The results of the ARL model indicate that companies that have members of board who are independent from management take a significantly shorter time to prepare and issue their financial reports. The results indicate that companies with greater number of board of directors are related with a higher audit report lag. The results also show that companies that separated the CEO and chairman's roles are quicker in publishing financial reports than companies combining the roles of CEO and chairman. In addition, boards of directors with more meetings make the audit report lag shorter. The findings also support that argument that the existence of an audit committee could resolve the information asymmetry between management and external auditors that, in turn, would lead to reduced audit report lag and management report lag. However, the results of the MRL model show that management report lag is related positively to large board size and board diligence and negatively to the existence of audit committee. This study concludes that the good structures of corporate governance play a key role in improving the quality of timeliness of financial reports. DOI: 10.5901/mjss.2015.v6n1p430

Timeliness of Tunisian Audit Reports: An Empirical Investigation based on Ownership and Partnership Visions

Timeliness of audit reports is a qualitative feature that enhances the usefulness of audited financial statements. As an emerging country, Tunisia has modernized its accounting legislation to enhance the quality of financial reporting. This legislation encourages independent auditors to optimize the transmission delays of audit reports. The authorities assume that the satisfaction of stakeholders is secured by regulating disclosure of audit reports. Our research analyses the date of issue of Tunisian audit reports and timeliness of audit information for shareholders and all users of financial statements (stakeholders). This paper provides new empirical evidence about the timeliness of audit reports in Tunisia. It holds two dates that influence the needs of users of financial statements: the date of signature of the auditors and the date of publication of the audit reports in the financial bulletin. The same article discusses the variability of the timeliness of audit reports and the factors that explain the delay information.

Radiology Resident Preliminary Reporting in an Independent Call Environment: Multiyear Assessment of Volume, Timeliness, and Accuracy

PurposeThe objective of this paper is to assess the volume, accuracy, and timeliness of radiology resident preliminary reports as part of an independent call system. This study seeks to understand the relationship between resident year in training, study modality, and discrepancy rate. MethodsResident preliminary interpretations on radiographs, ultrasound, CT, and MRI from October 2009 through December 2013 were prospectively scored by faculty on a modified RADPEER scoring system. Discrepancy rates were evaluated based on postgraduate year of the resident and the study modality. Turnaround times for reports were also reviewed. Differences between groups were compared with a chi-square test with a significance level of 0.05. Institutional review board approval was waived as only deidentified data were used in the study. ResultsA total of 416,413 studies were reported by 93 residents, yielding 135,902 resident scores. The rate of major resident–faculty assessment discrepancies was 1.7%. Discrepancy rates improved with increasing experience, both overall (PGY-3: 1.8%, PGY-4: 1.7%, PGY-5: 1.5%) and for each individual modality. Discrepancy rates were highest for MR (3.7%), followed by CT (2.4%), radiographs (1.4%), and ultrasound (0.6%). Emergency department report turnaround time averaged 31.7 min. The average graduating resident has been scored on 2,746 ± 267 reports during residency. ConclusionsResident preliminary reports have a low rate of major discrepancies, which improves over 3 years of call-taking experience. Although more complex cross-sectional studies have slightly higher discrepancy rates, discrepancies were still within the range of faculty report variation.

Corporate governance mechanisms and audit report timeliness: empirical evidence from Oman

This study provides empirical testing of evidence on whether internal and external corporate governance mechanisms are associated with audit report timeliness. We employ data from companies listed on the Omani capital market. Using a panel data approach, we discover that only internal corporate governance mechanisms associated with timely audit report. More specifically, we find board characteristics such as size and expertise, and audit committee characteristics such as financial expertise, are associated with improved audit report timeliness. By using composite measure for internal corporate governance mechanisms, we also find that audit committee quality enhances audit report timeliness while board quality does not. We further demonstrate that corporate governance mechanisms play a substitution role rather than a complementary role in explaining audit report timeliness. Thus, we conclude that corporate governance mechanisms in Oman are not as effective as in more developed countries and that regulators in such a less developed country should impose and encourage substantial corporate governance practices instead of merely adhering to pro-forma practices.

How the Source of Audit Committee Accounting Expertise Influences Financial Reporting Timeliness

SUMMARYThis article summarizes “The Association between Characteristics of Audit Committee Accounting Experts, Audit Committee Chairs, and Financial Reporting Timeliness” (Abernathy, Beyer, Masli, and Stefaniak 2014), which investigates the association between audit committee members' accounting expertise and financial reporting timeliness. While we find a positive relation between audit committee accounting expertise and financial reporting timeliness, interestingly, we also find that accounting expertise gained from public accounting experience is associated with more timely financial reporting than accounting expertise gained from CFO experience. We discuss implications of these findings for auditors, companies, and regulators.