This study conducts a pilot test analyzing reports from New York, New Jersey, and California and uses textual analytics to reengineer government performance audit reporting. It advocates a performance audit database that can facilitate easier access and extract relevant information from lengthy reports in a timely manner. The study presents a framework to identify the commonalities and differences in terminologies used by sampled states, evaluates and extracts relevant content from the reports according to Generally Accepted Government Auditing Standards requirements, and constructs a taxonomy specific to government performance audits. Furthermore, this study investigates the disclosure quality by examining linguistic and similarity features, such as report length, specificity, readability, comprehensibility, and content similarity. This paper raises attention to a key legislative task that requires reporting reforms.
[Purpose] This study aims at providing the implications and the improvements of the financial disclosure of the carbon emissions and the carbon credits.
[Methodology] This paper reviews the current financial disclosure of the companies which have large quantities of carbon emissions from accounting users’ perspectives. This study covers financial disclosures, including financial statements and their notes on their annual and quarterly reports.
[Findings] This paper documents the gaps between the K-GAAP and the current disclosure practice. There is inconsistency between the carbon credits and carbon liabilities. There are wide deviations across companies with respect to the unit price of carbon credit when companies estimate the amounts of their carbon liabilities. The paper also proposes additional disclosure for the carbon liabilities and cost flow assumptions, etc.
[Implications] Differentiated from the previous literature that is focused on quantitative analysis, this paper reviews the quality of the carbon related disclosures. This study provides proposals that can enhance the usefulness of carbon disclosure to the accounting information users.
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