Date of this Version
Journal of Accounting Research
In this paper, I draw parallels between the literatures on the effects of law on the financial development of countries and on the effects of accounting standards on financial reporting outcomes. My central thesis is that these literatures are complementary in terms of what they have to say about understanding the effects of law, regulations and accounting standards on economic and financial reporting outcomes. Moreover, both literatures suggest that U.S. securities laws and financial reporting standards have taken a more regulatory direction over time. I then take these themes and draw implications for the effects of the adoption of International Financial Reporting Standards (IFRS) around the world at the time of adoption and over time.
This is the peer reviewed version of the following article: HOLTHAUSEN, R. W. (2009), Accounting Standards, Financial Reporting Outcomes, and Enforcement. Journal of Accounting Research, 47: 447–458. doi:10.1111/j.1475-679X.2009.00330.x, which has been published in final form at http://dx.doi.org/10.1111/j.1475-679X.2009.00330.x. This article may be used for non-commercial purposes in accordance with Wiley Terms and Conditions for Self-Archiving http://olabout.wiley.com/WileyCDA/Section/id-820227.html#terms
Holthausen, R. W. (2009). Accounting Standards, Financial Reporting Outcomes, and Enforcement. Journal of Accounting Research, 47 (2), 447-458. http://dx.doi.org/10.1111/j.1475-679X.2009.00330.x
Date Posted: 27 November 2017
This document has been peer reviewed.