Economic consequences of new accounting standards in UK charities
Arung Gihna Mayapada,
Pallab Kumar Biswas,
Helen Roberts
Abstract:This study examines the effect of changes to the 2015 UK charities accounting standards on financial reporting timeliness and audit fees. Utilising 62,785 observations (9351 charities) from 2010 to 2017, we report a significant decrease in financial reporting timeliness following the new accounting standards regime. The decrease is more pronounced in charities with audited financial statements because of their lengthier audit report lag. Audit fees are also substantially higher following the new accounting sta… Show more
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