Business, Management and Accounting
2 years ago

IFRS adoption in Saudi Arabia leads to longer audit report lag.

Journal of Accounting and Management Information Systems
The impact of IFRS adoption and corporate governance mechanisms on audit report lag: evidence from an emerging country
Souha Ben Gamra, Fadhila Hamza, Hela Borgi

Paper Summary

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The study looked at how using international financial reporting standards (IFRS) and certain corporate governance practices affect how long it takes for audit reports to be completed in Saudi Arabia. They analyzed data from 616 companies over four years. The results showed that after adopting IFRS, the time it takes to complete audit reports increased, suggesting a need for more training in IFRS. Having a diligent and financially knowledgeable audit committee helped reduce audit report lag. However, the size of the audit committee and certain board characteristics did not have a significant impact on audit report lag.