Corporate governance mechanisms and audit report timeliness: Empirical evidence from Oman
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| date | 2015-09-28 08:35:27 |
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| id | 12350 |
| institution | UniSZA |
| internalnotes | Abdulla, J. Y. A. (1996) 'The timeliness of Bahraini annual reports', Advances inInternational Accounting, 9, 73-88. Abdullah, S. N. (2006) 'Board composition, audit committee and timeliness of corporatefinancial reports in Malaysia', Corporate Ownership & Control, 4(4), 33-45. Abernathy, J. L., Beyer, B. and Stefaniak, C. M. (2011) 'Audit committee directors’ financialexpertise and audit report lag', in American Accounting Association Annual Meeting,Denver, AUGUST 6-10, 2011, American Accounting Association, Afify, H. A. E. (2009) 'Determinants of audit report lag: Does implementing corporategovernance have any impact? Empirical evidence from Egypt', Journal of AppliedAccounting Research, 10(1), 56-86. Al-Ajmi, J. (2008) 'Audit and reporting delays: Evidence from an emerging market',Advances in Accounting, 24(2), 217-226. Al-Ghanem, W. and Hegazy, M. (2011) 'An empirical analysis of audit delays and timelinessof corporate financial reporting in Kuwait', Eurasian Business Review, 1(1), 73-90. Al-Shammari, B., Brown, P. and Tarca, A. (2008) 'An investigation of compliance withinternational accounting standards by listed companies in the Gulf Co-OperationCouncil member states', The International Journal of Accounting, 43(4), 425-447. Alattar, J. M. and Al-Khater, K. (2007) 'An empirical investigation of users’ views oncorporate annual reports in Qatar', International Journal of Commerce andManagement, 17(4), 312-325. Alattar, J. M. and Al-Khater, K. N. (2011) 'Factors impact the timeliness of corporatereporting: Evidence from an emerging economy', The Arab Journal of Accounting,14(1), 171-200. Ashton, R. H., Graul, P. R. and Newton, J. D. (1989) 'Audit delay and the timeliness ofcorporate reporting*', Contemporary Accounting Research, 5(2), 657-673. Ashton, R. H., Willingham, J. J. and Elliott, R. K. (1987) 'An empirical analysis of auditdelay', Journal of Accounting Research, 25(2), 275-292. Baber, W. R., Liang, L. and Zhu, Z. (2012) 'Associations between internal and externalcorporate governance characteristics: Implications for investigating financialaccounting restatements', Accounting Horizons, 26(2), 219-237. Bamber, E. M., Bamber, L. S. and Schoderbek, M. P. (1993) 'Audit structure and otherdeterminants of audit report lag: An empirical analysis', Auditing: A Journal ofPractice & Theory, 12(1), 1-23. Baydoun, N., Maguire, W., Ryan, N. and Willett, R. (2013) 'Corporate governance in fiveArabian Gulf countries', Managerial Auditing Journal, 28(1), 7-22. Beasley, M. S. (1996) 'An empirical analysis of the relation between the board of directorcomposition and financial statement fraud', Accounting Review, 71(4), 443-465. Beekes, W. and Brown, P. (2006) 'Do better-governed Australian firms make moreinformative disclosures?', Journal of Business Finance & Accounting, 33(3/4), 422-450. Blue Ribbon Committee (BRC) (1999) 'Report and recommendations of the Blue RibbonCommittee on improving the effectiveness of corporate audit committee', Brown, P., Beekes, W. and Verhoeven, P. (2011) 'Corporate governance, accounting andfinance: A review', Accounting & Finance, 51(1), 96-172.Capital Market Authority (2002) 'Code of corporate governance for MSM listed companies',1-28. Capital Market Authority (2009) 'Issuing executive regulation of the capital market law', 1-103. Carcello, J. V., Hermanson, D. R., Neal, T. L. and Riley, R. A. (2002) 'Board characteristicsand audit fees*', Contemporary Accounting Research, 19(3), 365-384. Carslaw, C. A. P. N. and Kaplan, S. E. (1991) 'An examination of audit delay: Furtherevidence from New Zealand', Accounting and Business Research, 22(85), 21-31. Davies, B. and Whittred, G. P. (1980) 'The association between selected corporate attributesand timeliness in corporate reporting: Further analysis', Abacus, 16(1), 48-60. DeAngelo, L. E. (1981) 'Auditor size and audit quality', Journal of Accounting andEconomics, 3(3), 183-199. Defond, M. L., Hann, R. N. and Xuesong, H. U. (2005) 'Does the market value financialexpertise on audit committees of boards of directors?', Journal of AccountingResearch, 43(2), 153-193. Dezoort, F. T., Hermanson, D., Archambeault, D. and Reed, S. (2002) 'Audit committeeeffectiveness: A synthesis of the empirical audit committee literature', Journal ofAccounting Literature, 21, 38-75. El-Bannany, M. (2008) 'Factors affecting audit report lag in banks: The Egyptian case',Corporate Ownership & Control,, 5(3), 54-61. Fama, E. F. and Jensen, M. C. (1983) 'Separation of ownership and control', Journal of Lawand Economics, 26(2), 301-325. Francis, J. R., Maydew, E. L. and Sparks, H. C. (1999) 'The role of big 6 auditors in thecredible reporting of accruals', Auditing, 18(2), 17. Ghosh, A., Marra, A. and Moon, D. (2010) 'Corporate boards, audit committees, and earningsmanagement: Pre- and post-SOX evidence', Journal of Business Finance &Accounting, 37(9-10), 1145-1176. Gujarati, D. N. and Porter, D. C. (2009) Basic econometrics, 5th ed.,New York: McGraw-Hill/Irwin. Hair, J. F., Black, W. C., Babin, B. J. and Anderson, R. E. (2010) Multivariate data analysis,7th ed.,New Jersey: Parson Prentice Hall. Hawkamah (2006 ) 'Hawkamah and Capital Market Authority of the Sultanate of Omanannounce corporate governance partnership', 2006 [online], available:http://www.hawkamah.org/news [accessed 06 March 2011]. Henderson, B. C. and Kaplan, S. E. (2000) 'An examination of audit report lag for banks: Apanel data approach', Auditing: A Journal of Practice & Theory, 19(2), 159-174. Hill, R. C., Griffiths, W. E. and Lim, G. C. (2011) Principles of Econometrics, 4th ed.,Hoboken: John Wiley & Sons. IFC and Hawkamah (2008) A corporate governance survey of listed companies and banksacross the Middle East and North Africa, IFC, HICG and IAAG. Ika, S. R. and Ghazali, N. A. M. (2012) 'Audit committee effectiveness and timeliness ofreporting: Indonesian evidence', Managerial Auditing Journal, 27 (4), 403-424. Jensen, M. C. and Meckling, W. H. (1976) 'Theory of the firm: Managerial behavior, agencycosts and ownership structure', Journal of Financial Economics, 3(4), 305-360. Kent, P., Routledge, J. and Stewart, J. (2010) 'Innate and discretionary accruals quality andcorporate governance', Accounting & Finance, 50(1), 171-195. Khasharmeh, H. A. and Aljifri, K. (2010) 'The timeliness of annual reports in Bahrain and theUnited Arab Emirates: An empirical comparative study', The International Journal ofBusiness and Finance Research, 4(1), 51-71. Klein, A. (2002) 'Audit committee, board of director characteristics, and earningsmanagement', Journal of Accounting and Economics, 33(3), 375-400. Krishnain, G. V. and Visvanathan, G. (2008) 'Does the SOX definition of an accountingexpert matter? The association between audit committee directors' accountingexpertise and accounting conservatism', Contemporary Accounting Research, 25(3),827-857. Lara, J. M. G., Osma, B. G. and Penalva, F. (2007) 'Board of directors' characteristics andconditional accounting conservatism: Spanish evidence', European AccountingReview, 16(4), 727-755. Lee, H.-Y., Mande, V. and Son, M. (2009) 'Do lengthy auditor tenure and the provision ofnon-audit services by the external auditor reduce audit report lags?', InternationalJournal of Auditing, 13(2), 87-104. Leventis, S. and Caramanis, C. (2005) 'Determinants of audit time as a proxy of audit quality',Managerial Auditing Journal, 20(5), 460-478. Leventis, S., Weetman, P. and Caramanis, C. (2005) 'Determinants of audit report lag: Someevidence from the Athens Stock Exchange', International Journal of Auditing, 9(1),45-58. McLelland, A. J. and Giroux, G. (2000) 'An empirical analysis of auditor report timing bylarge municipalities', Journal of Accounting and Public Policy, 19(3), 263-281. Menon, K. and Williams, J. D. (1994) 'The use of audit committees for monitoring', Journalof Accounting and Public Policy, 13(2), 121-139. Mohamad-Nor, M. N., Shafie, R. and Wan-Hussin, W. N. (2010) 'Corporate governance andaudit report lag in malaysia', Asian Academy of Management Journal of Accounting &Finance, 6(2), 57-84. Mohamad, A. A. (1995) 'A study of factors determining to audit report delay', Economic and Business Review, 2, 913-943. Nelson, S. P. and Shukeri, S. N. (2011) 'Corporate governance and audit report timeliness: Evidence from Malaysia' in Devi, S. S. and Hooper, K., eds., Accounting in Asia, Emerald Group Publishing Limited, 109-127. OECD (2011) Survey on corporate governance frameworks in the Middle East and North Africa, OECD. Owusu-Ansah, S. (2000) 'Timeliness of corporate financial reporting in emerging capital markets: empirical evidence from the Zimbabwe Stock Exchange', Accounting & Business Research (Wolters Kluwer UK), 30(3), 241-254. Rogers, W. (1993) 'Regression standard errors in clustered samples', Stata Technical Bulletin, 13(3). Sharma, V., Sharma, D. and Ananthanarayanan, U. (2011) 'Client importance and earnings management: The moderating role of audit committees', Auditing: A Journal of Practice & Theory, 30(3), 125-156. Shukeri, S. N. and Islam, M. A. (2012) 'The determinants of audit timeliness: Evidence from Malaysia', Journal of Applied Sciences Research, 8(7), 3314-3322. Singh, I. and Zahn, J. L. W. M. V. d. (2008) 'Determinants of intellectual capital disclosure in prospectuses of initial public offerings', Accounting and Business Research, 38(5), 409-431. Tauringana, V., Kyeyune, M. F. and Opio, P. J. (2008) 'Corporate governance, dual language reporting and the timeliness of annual reports on the Nairobi stock exchange', Research in Accounting in Emerging Economies, 8, 13-37. Vafeas, N. (1999) 'Board meeting frequency and firm performance', Journal of Financial Economics, 53(1), 113-142. Wan-Hussin, W. N. and Bamahros, H. M. (2013) 'Do investment in and the sourcing arrangement of the internal audit function affect audit delay?', Journal of Contemporary Accounting & Economics, 9(1), 19-32. Watts, R. L. and Zimmerman, J. L. (1978) 'Towards a positive theory of the determination of accounting standards', Accounting Review, 53(1), 112-134. Xie, B., Davidson, W. N. and DaDalt, P. J. (2003) 'Earnings management and corporate governance: the role of the board and the audit committee', Journal of Corporate Finance, 9(3), 295-316. Yaacob, N. M. and Che-Ahmad, A. (2012) 'Adoption of FRS 138 and audit delay in Malaysia', International Journal of Economics and Finance, 4(1), 167-176. Mohamad, A. A. (1995) 'A study of factors determining to audit report delay', Economic andBusiness Review, 2, 913-943. Nelson, S. P. and Shukeri, S. N. (2011) 'Corporate governance and audit report timeliness:Evidence from Malaysia' in Devi, S. S. and Hooper, K., eds., Accounting in Asia,Emerald Group Publishing Limited, 109-127. OECD (2011) Survey on corporate governance frameworks in the Middle East and NorthAfrica, OECD. Owusu-Ansah, S. (2000) 'Timeliness of corporate financial reporting in emerging capitalmarkets: empirical evidence from the Zimbabwe Stock Exchange', Accounting &Business Research (Wolters Kluwer UK), 30(3), 241-254. Rogers, W. (1993) 'Regression standard errors in clustered samples', Stata Technical Bulletin,13(3). Sharma, V., Sharma, D. and Ananthanarayanan, U. (2011) 'Client importance and earningsmanagement: The moderating role of audit committees', Auditing: A Journal ofPractice & Theory, 30(3), 125-156. Shukeri, S. N. and Islam, M. A. (2012) 'The determinants of audit timeliness: Evidence fromMalaysia', Journal of Applied Sciences Research, 8(7), 3314-3322. Singh, I. and Zahn, J. L. W. M. V. d. (2008) 'Determinants of intellectual capital disclosure inprospectuses of initial public offerings', Accounting and Business Research, 38(5),409-431. Tauringana, V., Kyeyune, M. F. and Opio, P. J. (2008) 'Corporate governance, dual languagereporting and the timeliness of annual reports on the Nairobi stock exchange',Research in Accounting in Emerging Economies, 8, 13-37. Vafeas, N. (1999) 'Board meeting frequency and firm performance', Journal of FinancialEconomics, 53(1), 113-142. Wan-Hussin, W. N. and Bamahros, H. M. (2013) 'Do investment in and the sourcingarrangement of the internal audit function affect audit delay?', Journal ofContemporary Accounting & Economics, 9(1), 19-32. Watts, R. L. and Zimmerman, J. L. (1978) 'Towards a positive theory of the determination ofaccounting standards', Accounting Review, 53(1), 112-134. Xie, B., Davidson, W. N. and DaDalt, P. J. (2003) 'Earnings management and corporategovernance: the role of the board and the audit committee', Journal of CorporateFinance, 9(3), 295-316. Yaacob, N. M. and Che-Ahmad, A. (2012) 'Adoption of FRS 138 and audit delay inMalaysia', International Journal of Economics and Finance, 4(1), 167-176. |
| originalfilename | 6650-01-FH02-FLAIR-15-03799.jpg |
| person | UniSZA Unisza unisza |
| recordtype | oai_dc |
| resourceurl | https://intelek.unisza.edu.my/intelek/pages/view.php?ref=12350 |
| spelling | 12350 https://intelek.unisza.edu.my/intelek/pages/view.php?ref=12350 https://intelek.unisza.edu.my/intelek/pages/search.php?search=!collection407072 Restricted Document Article Journal UniSZA Unisza unisza image/jpeg inches 96 96 1423 07 07 803 2015-09-28 08:35:27 1423x803 6650-01-FH02-FLAIR-15-03799.jpg UniSZA Private Access Corporate governance mechanisms and audit report timeliness: Empirical evidence from Oman International Journal of Accounting, Auditing and Performance Evaluation This study provides empirical evidence from Middle East and North Africa(MENA) testing of whether 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 document board characteristics such as size and expertise and audit committee financial expertise negatively associated with audit report timeliness. However, the association between board independence, meetings, audit committee independence, size, meetings and external auditor with audit report timeliness is insignificant. We find that audit committee quality enhances audit report timeliness while board quality does not. We also demonstrate that corporate governance mechanisms play a substitution role rather than a complementary role. Thus, we conclude that corporate governance mechanisms in MENA countries are not effective as in more developed countries and that regulators in such countries should impose and encourage substantial corporate governance practices instead of pro-forma practices. 11 3 Inderscience Enterprises Ltd. Inderscience Enterprises Ltd. 312-337 Abdulla, J. Y. A. (1996) 'The timeliness of Bahraini annual reports', Advances inInternational Accounting, 9, 73-88. Abdullah, S. N. (2006) 'Board composition, audit committee and timeliness of corporatefinancial reports in Malaysia', Corporate Ownership & Control, 4(4), 33-45. Abernathy, J. L., Beyer, B. and Stefaniak, C. M. (2011) 'Audit committee directors’ financialexpertise and audit report lag', in American Accounting Association Annual Meeting,Denver, AUGUST 6-10, 2011, American Accounting Association, Afify, H. A. E. (2009) 'Determinants of audit report lag: Does implementing corporategovernance have any impact? Empirical evidence from Egypt', Journal of AppliedAccounting Research, 10(1), 56-86. Al-Ajmi, J. (2008) 'Audit and reporting delays: Evidence from an emerging market',Advances in Accounting, 24(2), 217-226. Al-Ghanem, W. and Hegazy, M. (2011) 'An empirical analysis of audit delays and timelinessof corporate financial reporting in Kuwait', Eurasian Business Review, 1(1), 73-90. Al-Shammari, B., Brown, P. and Tarca, A. (2008) 'An investigation of compliance withinternational accounting standards by listed companies in the Gulf Co-OperationCouncil member states', The International Journal of Accounting, 43(4), 425-447. Alattar, J. M. and Al-Khater, K. (2007) 'An empirical investigation of users’ views oncorporate annual reports in Qatar', International Journal of Commerce andManagement, 17(4), 312-325. Alattar, J. M. and Al-Khater, K. N. (2011) 'Factors impact the timeliness of corporatereporting: Evidence from an emerging economy', The Arab Journal of Accounting,14(1), 171-200. Ashton, R. H., Graul, P. R. and Newton, J. D. (1989) 'Audit delay and the timeliness ofcorporate reporting*', Contemporary Accounting Research, 5(2), 657-673. Ashton, R. H., Willingham, J. J. and Elliott, R. K. (1987) 'An empirical analysis of auditdelay', Journal of Accounting Research, 25(2), 275-292. Baber, W. R., Liang, L. and Zhu, Z. (2012) 'Associations between internal and externalcorporate governance characteristics: Implications for investigating financialaccounting restatements', Accounting Horizons, 26(2), 219-237. Bamber, E. M., Bamber, L. S. and Schoderbek, M. P. (1993) 'Audit structure and otherdeterminants of audit report lag: An empirical analysis', Auditing: A Journal ofPractice & Theory, 12(1), 1-23. Baydoun, N., Maguire, W., Ryan, N. and Willett, R. (2013) 'Corporate governance in fiveArabian Gulf countries', Managerial Auditing Journal, 28(1), 7-22. Beasley, M. S. (1996) 'An empirical analysis of the relation between the board of directorcomposition and financial statement fraud', Accounting Review, 71(4), 443-465. Beekes, W. and Brown, P. (2006) 'Do better-governed Australian firms make moreinformative disclosures?', Journal of Business Finance & Accounting, 33(3/4), 422-450. Blue Ribbon Committee (BRC) (1999) 'Report and recommendations of the Blue RibbonCommittee on improving the effectiveness of corporate audit committee', Brown, P., Beekes, W. and Verhoeven, P. (2011) 'Corporate governance, accounting andfinance: A review', Accounting & Finance, 51(1), 96-172.Capital Market Authority (2002) 'Code of corporate governance for MSM listed companies',1-28. Capital Market Authority (2009) 'Issuing executive regulation of the capital market law', 1-103. Carcello, J. V., Hermanson, D. R., Neal, T. L. and Riley, R. A. (2002) 'Board characteristicsand audit fees*', Contemporary Accounting Research, 19(3), 365-384. Carslaw, C. A. P. N. and Kaplan, S. E. (1991) 'An examination of audit delay: Furtherevidence from New Zealand', Accounting and Business Research, 22(85), 21-31. Davies, B. and Whittred, G. P. (1980) 'The association between selected corporate attributesand timeliness in corporate reporting: Further analysis', Abacus, 16(1), 48-60. DeAngelo, L. E. (1981) 'Auditor size and audit quality', Journal of Accounting andEconomics, 3(3), 183-199. Defond, M. L., Hann, R. N. and Xuesong, H. U. (2005) 'Does the market value financialexpertise on audit committees of boards of directors?', Journal of AccountingResearch, 43(2), 153-193. Dezoort, F. T., Hermanson, D., Archambeault, D. and Reed, S. (2002) 'Audit committeeeffectiveness: A synthesis of the empirical audit committee literature', Journal ofAccounting Literature, 21, 38-75. El-Bannany, M. (2008) 'Factors affecting audit report lag in banks: The Egyptian case',Corporate Ownership & Control,, 5(3), 54-61. Fama, E. F. and Jensen, M. C. (1983) 'Separation of ownership and control', Journal of Lawand Economics, 26(2), 301-325. Francis, J. R., Maydew, E. L. and Sparks, H. C. (1999) 'The role of big 6 auditors in thecredible reporting of accruals', Auditing, 18(2), 17. Ghosh, A., Marra, A. and Moon, D. (2010) 'Corporate boards, audit committees, and earningsmanagement: Pre- and post-SOX evidence', Journal of Business Finance &Accounting, 37(9-10), 1145-1176. Gujarati, D. N. and Porter, D. C. (2009) Basic econometrics, 5th ed.,New York: McGraw-Hill/Irwin. Hair, J. F., Black, W. C., Babin, B. J. and Anderson, R. E. (2010) Multivariate data analysis,7th ed.,New Jersey: Parson Prentice Hall. Hawkamah (2006 ) 'Hawkamah and Capital Market Authority of the Sultanate of Omanannounce corporate governance partnership', 2006 [online], available:http://www.hawkamah.org/news [accessed 06 March 2011]. Henderson, B. C. and Kaplan, S. E. (2000) 'An examination of audit report lag for banks: Apanel data approach', Auditing: A Journal of Practice & Theory, 19(2), 159-174. Hill, R. C., Griffiths, W. E. and Lim, G. C. (2011) Principles of Econometrics, 4th ed.,Hoboken: John Wiley & Sons. IFC and Hawkamah (2008) A corporate governance survey of listed companies and banksacross the Middle East and North Africa, IFC, HICG and IAAG. Ika, S. R. and Ghazali, N. A. M. (2012) 'Audit committee effectiveness and timeliness ofreporting: Indonesian evidence', Managerial Auditing Journal, 27 (4), 403-424. Jensen, M. C. and Meckling, W. H. (1976) 'Theory of the firm: Managerial behavior, agencycosts and ownership structure', Journal of Financial Economics, 3(4), 305-360. Kent, P., Routledge, J. and Stewart, J. (2010) 'Innate and discretionary accruals quality andcorporate governance', Accounting & Finance, 50(1), 171-195. Khasharmeh, H. A. and Aljifri, K. (2010) 'The timeliness of annual reports in Bahrain and theUnited Arab Emirates: An empirical comparative study', The International Journal ofBusiness and Finance Research, 4(1), 51-71. Klein, A. (2002) 'Audit committee, board of director characteristics, and earningsmanagement', Journal of Accounting and Economics, 33(3), 375-400. Krishnain, G. V. and Visvanathan, G. (2008) 'Does the SOX definition of an accountingexpert matter? The association between audit committee directors' accountingexpertise and accounting conservatism', Contemporary Accounting Research, 25(3),827-857. Lara, J. M. G., Osma, B. G. and Penalva, F. (2007) 'Board of directors' characteristics andconditional accounting conservatism: Spanish evidence', European AccountingReview, 16(4), 727-755. Lee, H.-Y., Mande, V. and Son, M. (2009) 'Do lengthy auditor tenure and the provision ofnon-audit services by the external auditor reduce audit report lags?', InternationalJournal of Auditing, 13(2), 87-104. Leventis, S. and Caramanis, C. (2005) 'Determinants of audit time as a proxy of audit quality',Managerial Auditing Journal, 20(5), 460-478. Leventis, S., Weetman, P. and Caramanis, C. (2005) 'Determinants of audit report lag: Someevidence from the Athens Stock Exchange', International Journal of Auditing, 9(1),45-58. McLelland, A. J. and Giroux, G. (2000) 'An empirical analysis of auditor report timing bylarge municipalities', Journal of Accounting and Public Policy, 19(3), 263-281. Menon, K. and Williams, J. D. (1994) 'The use of audit committees for monitoring', Journalof Accounting and Public Policy, 13(2), 121-139. Mohamad-Nor, M. N., Shafie, R. and Wan-Hussin, W. N. (2010) 'Corporate governance andaudit report lag in malaysia', Asian Academy of Management Journal of Accounting &Finance, 6(2), 57-84. Mohamad, A. A. (1995) 'A study of factors determining to audit report delay', Economic and Business Review, 2, 913-943. Nelson, S. P. and Shukeri, S. N. (2011) 'Corporate governance and audit report timeliness: Evidence from Malaysia' in Devi, S. S. and Hooper, K., eds., Accounting in Asia, Emerald Group Publishing Limited, 109-127. OECD (2011) Survey on corporate governance frameworks in the Middle East and North Africa, OECD. Owusu-Ansah, S. (2000) 'Timeliness of corporate financial reporting in emerging capital markets: empirical evidence from the Zimbabwe Stock Exchange', Accounting & Business Research (Wolters Kluwer UK), 30(3), 241-254. Rogers, W. (1993) 'Regression standard errors in clustered samples', Stata Technical Bulletin, 13(3). Sharma, V., Sharma, D. and Ananthanarayanan, U. (2011) 'Client importance and earnings management: The moderating role of audit committees', Auditing: A Journal of Practice & Theory, 30(3), 125-156. Shukeri, S. N. and Islam, M. A. (2012) 'The determinants of audit timeliness: Evidence from Malaysia', Journal of Applied Sciences Research, 8(7), 3314-3322. Singh, I. and Zahn, J. L. W. M. V. d. (2008) 'Determinants of intellectual capital disclosure in prospectuses of initial public offerings', Accounting and Business Research, 38(5), 409-431. Tauringana, V., Kyeyune, M. F. and Opio, P. J. (2008) 'Corporate governance, dual language reporting and the timeliness of annual reports on the Nairobi stock exchange', Research in Accounting in Emerging Economies, 8, 13-37. Vafeas, N. (1999) 'Board meeting frequency and firm performance', Journal of Financial Economics, 53(1), 113-142. Wan-Hussin, W. N. and Bamahros, H. M. (2013) 'Do investment in and the sourcing arrangement of the internal audit function affect audit delay?', Journal of Contemporary Accounting & Economics, 9(1), 19-32. Watts, R. L. and Zimmerman, J. L. (1978) 'Towards a positive theory of the determination of accounting standards', Accounting Review, 53(1), 112-134. Xie, B., Davidson, W. N. and DaDalt, P. J. (2003) 'Earnings management and corporate governance: the role of the board and the audit committee', Journal of Corporate Finance, 9(3), 295-316. Yaacob, N. M. and Che-Ahmad, A. (2012) 'Adoption of FRS 138 and audit delay in Malaysia', International Journal of Economics and Finance, 4(1), 167-176. Mohamad, A. A. (1995) 'A study of factors determining to audit report delay', Economic andBusiness Review, 2, 913-943. Nelson, S. P. and Shukeri, S. N. (2011) 'Corporate governance and audit report timeliness:Evidence from Malaysia' in Devi, S. S. and Hooper, K., eds., Accounting in Asia,Emerald Group Publishing Limited, 109-127. OECD (2011) Survey on corporate governance frameworks in the Middle East and NorthAfrica, OECD. Owusu-Ansah, S. (2000) 'Timeliness of corporate financial reporting in emerging capitalmarkets: empirical evidence from the Zimbabwe Stock Exchange', Accounting &Business Research (Wolters Kluwer UK), 30(3), 241-254. Rogers, W. (1993) 'Regression standard errors in clustered samples', Stata Technical Bulletin,13(3). Sharma, V., Sharma, D. and Ananthanarayanan, U. (2011) 'Client importance and earningsmanagement: The moderating role of audit committees', Auditing: A Journal ofPractice & Theory, 30(3), 125-156. Shukeri, S. N. and Islam, M. A. (2012) 'The determinants of audit timeliness: Evidence fromMalaysia', Journal of Applied Sciences Research, 8(7), 3314-3322. Singh, I. and Zahn, J. L. W. M. V. d. (2008) 'Determinants of intellectual capital disclosure inprospectuses of initial public offerings', Accounting and Business Research, 38(5),409-431. Tauringana, V., Kyeyune, M. F. and Opio, P. J. (2008) 'Corporate governance, dual languagereporting and the timeliness of annual reports on the Nairobi stock exchange',Research in Accounting in Emerging Economies, 8, 13-37. Vafeas, N. (1999) 'Board meeting frequency and firm performance', Journal of FinancialEconomics, 53(1), 113-142. Wan-Hussin, W. N. and Bamahros, H. M. (2013) 'Do investment in and the sourcingarrangement of the internal audit function affect audit delay?', Journal ofContemporary Accounting & Economics, 9(1), 19-32. Watts, R. L. and Zimmerman, J. L. (1978) 'Towards a positive theory of the determination ofaccounting standards', Accounting Review, 53(1), 112-134. Xie, B., Davidson, W. N. and DaDalt, P. J. (2003) 'Earnings management and corporategovernance: the role of the board and the audit committee', Journal of CorporateFinance, 9(3), 295-316. Yaacob, N. M. and Che-Ahmad, A. (2012) 'Adoption of FRS 138 and audit delay inMalaysia', International Journal of Economics and Finance, 4(1), 167-176. |
| spellingShingle | Corporate governance mechanisms and audit report timeliness: Empirical evidence from Oman |
| summary | This study provides empirical evidence from Middle East and North Africa(MENA) testing of whether 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 document board characteristics such as size and expertise and audit committee financial expertise negatively associated with audit report timeliness. However, the association between board independence, meetings, audit committee independence, size, meetings and external auditor with audit report timeliness is insignificant. We find that audit committee quality enhances audit report timeliness while board quality does not. We also demonstrate that corporate governance mechanisms play a substitution role rather than a complementary role. Thus, we conclude that corporate governance mechanisms in MENA countries are not effective as in more developed countries and that regulators in such countries should impose and encourage substantial corporate governance practices instead of pro-forma practices. |
| title | Corporate governance mechanisms and audit report timeliness: Empirical evidence from Oman |
| title_full | Corporate governance mechanisms and audit report timeliness: Empirical evidence from Oman |
| title_fullStr | Corporate governance mechanisms and audit report timeliness: Empirical evidence from Oman |
| title_full_unstemmed | Corporate governance mechanisms and audit report timeliness: Empirical evidence from Oman |
| title_short | Corporate governance mechanisms and audit report timeliness: Empirical evidence from Oman |
| title_sort | corporate governance mechanisms and audit report timeliness: empirical evidence from oman |