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Does Regulatory Change Improve Financial Reporting Timeliness? Evidence from Bangladeshi Listed Companies

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dc.contributor.author Ahmed, Jamal Uddin
dc.contributor.author Karim, A K M Waresul
dc.date.accessioned 2008-04-07T23:07:23Z
dc.date.accessioned 2022-07-05T02:40:40Z
dc.date.available 2008-04-07T23:07:23Z
dc.date.available 2022-07-05T02:40:40Z
dc.date.copyright 2005
dc.date.issued 2005
dc.identifier.uri https://ir.wgtn.ac.nz/handle/123456789/18726
dc.description.abstract The present study is an attempt to empirically test a research question: whether regulatory change can improve financial reporting timeliness in developing countries. Financial reporting delays in Bangladesh have historically been long. In some cases companies are found to publish results of as many as five financial years at a time. Even in 2003, company audits in many cases can be found to take longer than eighteen months. Long audit delay is one of the main causes behind chronic delay observed in issuing financial statements to shareholders. In a significant move to reduce such delays, the country’s Securities and Exchange Commission (SEC), in the year 2000, imposed a mandatory maximum of 120 days to complete audits of listed companies. This provides an interesting setting to examine the research question set out at the beginning. The paper reports the results of multiple linear regressions to test the possible association between financial reporting timeliness and regulatory change while controlling for relevant corporate and auditor attributes. Two levels of analyses were carried out. First, using observations from 1999 and 2001, and then using the observations from 1999 and 2003. The results show that audit delays could be reduced by effective regulatory change. Subsidiaries of MNCs demonstrate significantly shorter delay while companies who do not pay dividends show significantly longer delays. Company size, audit complexity, return on equity, and audit fees (except for one model) do not appear to have any bearing on audit delay. en_NZ
dc.format pdf en_NZ
dc.language.iso en_NZ
dc.publisher Te Herenga Waka—Victoria University of Wellington en_NZ
dc.relation.ispartofseries Working Paper en_NZ
dc.relation.ispartofseries No. 30 en_NZ
dc.subject Developing countries en_NZ
dc.subject Government regulation en_NZ
dc.subject Auditing standards en_NZ
dc.title Does Regulatory Change Improve Financial Reporting Timeliness? Evidence from Bangladeshi Listed Companies en_NZ
dc.type Text en_NZ
vuwschema.contributor.unit Centre for Accounting, Governance and Taxation Research en_NZ
vuwschema.subject.anzsrcfor 150199 Accounting, Auditing and Accountability not elsewhere classified en_NZ
vuwschema.subject.marsden 350100 Accounting, Auditing and Accountability en_NZ
vuwschema.type.vuw Working or Occasional Paper en_NZ
vuwschema.subject.anzsrcforV2 350199 Accounting, auditing and accountability not elsewhere classified en_NZ

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