To tell the truth: A discussion of issues concerning truth and ethics in accounting

Bayou, Mohamed E.; Reinstein, Alan; Williams, Peter

doi:10.1016/j.aos.2011.02.001

Cited by 114 publications

(76 citation statements)

References 32 publications

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“…As stated above, in carrying out this analysis, the purpose is to attest the data truthfulness as used for the preparation of the recovery plan; in this perspective, the checks on the correct capitalisation of certain costs or on allocated amortisation and depreciation, have less interest than the correct and complete representation of debts; the first ones, in fact, will not affect future cash flows, while the latter will (Laitinen and Laitinen 2009, Bayou, Reinstein et al 2011, Quagli 2013.…”

Section: The Attestation Of the Accuracy Of Corporate Data: Critical mentioning

confidence: 99%

“…In this sense, the term "truthfulness" is therefore an implicit reference to the principles and assumptions in the preparation of the budget, which is relevant to the extent that they are functional for the preparation of a balance sheet that constitutes a reliable basic information for the formulation of the economic, financial and equity outlook, contained in the recovery business plan (Bayou, Reinstein et al 2011, Gill and Abbott 2011, Valensise 2012.…”

Section: The Attestation Of the Accuracy Of Corporate Data: Critical mentioning

confidence: 99%

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The attestation of corporate turnaround plans in Italy: operating problems and possible solutions

Caputo

Tron

2016

IJCA

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The manifold recent reform acts of bankruptcy law in Italy are more clearly oriented towards preserving the going concern of firms, besides granting the par condicio among creditors. Companies have broader opportunities to plan the restructuring, with the constraint of making it advantageous for creditors. In this context, the role of the independent attester is of prime and increasing importance to assure that the restructuring plan pursues creditors' and stakeholders' interests.This paper presents insights from both the authors' practical experiences and the review of the literature. It is addressed to managers, practitioners and scholars, interested in understanding turnarounds in the Italian context. The specificities of the attester's activity in analysing the data truthfulness and the feasibility of the recovery plan are deeply analysed. The article has a qualitative value and is based on a normative methodological approach, which links bankruptcy law with crisis management and auditing. The result is a systematic model of the attestation process.

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Section: The Attestation Of the Accuracy Of Corporate Data: Critical mentioning

confidence: 99%

Section: The Attestation Of the Accuracy Of Corporate Data: Critical mentioning

confidence: 99%

The attestation of corporate turnaround plans in Italy: operating problems and possible solutions

Caputo

Tron

2016

IJCA

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“…Whether one crosses or not is irrelevant and the motives for crossing are irrelevant, as well. Any individual's decision to cross may be perfectly irrational, but the only thing that concerns the information system is conveying a "fact" -is the way clear to cross the street (Bayou, et al, 2011)?…”

Section: Looking Forward: a Different Metaphormentioning

confidence: 99%

Rethinking Decision Usefulness

Ravenscroft¹

2011

SSRN Journal

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“…On this research area, some studies analysed the effects of IAS/IFRS on the comparability of financial statements in different countries (Callao, Jarne, & Lainez, 2007;Bartov, Goldberg, & Kim, 2005;Delvaille, Ebbers, & Saccon, 2006). The impacts deriving from the globalization of markets have been highly relevant, so some authors have analyzed on the nature and significance of the word "accounting" and the best practices for research methodology (Williams, 2009;Messner, 2009); some others have focused on the relation between truth, ethics, and accounting (Bayou, Reistein, & Williams, 2011). Because financial statements can be considered a "milestone" in the decisional process of investors, a significant number of studies underline the necessity to have a closer relationship between finance and accounting, especially in the evaluation of "risky cash flows" and in the definition of existing "risk factors" (Hopwood, 2009;Pope, 2010).…”

Section: Literature Reviewmentioning

confidence: 99%

IFRS 7 and Risk Disclosure Policies: A Cross-Sectional Analysis of Italian Listed Banks

Pucci¹,

Tutino²,

Marulli³

2013

CUBR

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This paper has a double aim, to give a theoretical evaluation of the disclosure model chosen by IASB referring to market risks of financial instruments and to analyze the practical solutions adopted in the case of a sample of listed banks and compliance of the information referring to risk in the "Notes" with the requirements of IFRS 7. In order to investigate the effectiveness of "IFRS 7, Financial Instruments", the research has been conducted considering Annual Report of a sample of 17 banking companies, all listed in the three-year period (2008)(2009)(2010) in Italian financial markets. Studying a three-year period should reveal the performance of IFRS 7 in fostering market discipline by pressing banks to disclose more information regarding risk profile elements, mainly considering market risks such as interest rate risk, currency risk, and price risk, and then making financial disclosure more transparent. A content analysis has been adopted through a cross-sectional and time series study. The results underline that IFRS 7 improves the disclosure of market risks in financial statements compared with previous years even if a better equilibrium between qualitative and quantitative information could be found. In the sample analysed, substantial compliance with IFRS 7 requirements has been found, except for some particularly sensitive information. In some cases quantitative information cannot be considered sufficient to inform on potential impact of changes in risks exposure on the actual and expected value of income and equity of entities.

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To tell the truth: A discussion of issues concerning truth and ethics in accounting

Cited by 114 publications

References 32 publications

The attestation of corporate turnaround plans in Italy: operating problems and possible solutions

The attestation of corporate turnaround plans in Italy: operating problems and possible solutions

Rethinking Decision Usefulness

IFRS 7 and Risk Disclosure Policies: A Cross-Sectional Analysis of Italian Listed Banks

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