Paper Titles in Periodical
International Letters of Social and Humanistic Sciences
Volume 64

Subscribe

Subscribe to our Newsletter and get informed about new publication regulary and special discounts for subscribers!

ILSHS > Volume 64 > The Effectiveness of Internal Control Reporting on...
The Effectiveness of Internal Control Reporting on Improving Financial Reporting
< Back to Volume

The Effectiveness of Internal Control Reporting on Improving Financial Reporting

Full Text PDF

Abstract:

This paper explores the views of managers and independent auditors to audit institutes and organizations associated with the need for a new report entitled Report of the useful internal controls and its impact on the overall improvement of financial reporting, to compare the deals. The method used descriptive survey. According to the study population consisted of directors of listed companies in Tehran Stock Exchange as well as auditors and audit organizations working in the public audit firms and certified public accountants Iran is the Securities and Exchange. The required information was collected using a questionnaire. To analyze the data from the test was used to compare means. The results show that managers and auditors have focused on the usefulness of this type of report. Administrators voluntary reporting on internal control, management, financial reporting improves. The auditors also believe that mandatory reporting of management on internal control, financial reporting does not improve. Other results show that between administrators and auditors in connection with the internal control reporting, there is a significant difference.

Info:

Periodical:
International Letters of Social and Humanistic Sciences (Volume 64)
Pages:
52-65
DOI:
https://doi.org/10.18052/www.scipress.com/ILSHS.64.52
Citation:
S. Mohammadi and A. Shirzad, "The Effectiveness of Internal Control Reporting on Improving Financial Reporting", International Letters of Social and Humanistic Sciences, Vol. 64, pp. 52-65, 2015
Online since:
November 2015
Authors:
Shaban Mohammadi, Ali Shirzad
Keywords:
Auditors, Improve Financial Reporting, Internal Controls, Managers, Reporting
Export:
RIS, BibTeX, Text
Distribution:
Open Access

Creative Commons License
This work is licensed under a
Creative Commons Attribution 4.0 International License

References:

[1] Committee of Sponsoring Organization of the Tread way Commission (COSO), (1992), Internal Control - Integrated Framework. New York, NY: AICPA.

[2] Commission on Auditors' Responsibilities (The Cohen Commission), (1978), the Commission on Auditors' Responsibilities Report, Conclusion and Recommendation. New York, NY: AICPA.

[3] General Accounting Office (GAO), (1992), Letter from Donald H. Chapin, Assistant Comptroller General, GAO, to Robert L. May, Chairman, Committee of Sponsoring Organizations of the Tread way Commission. (October 30), Journal of Accountancy.

[4] Hermanson, H. M., (2000), An Analysis of the Demand for Reporting on Internal Control, Accounting Horizons. Vol. 14, No. 3, pp.325-341.

[5] MOHAMED, Z., ( 2001), an Empirical Study on the Directors and Auditors' Perception Relating to the Demand for Reporting on Internal Control, UNIVERSITI TEKNOLOGI MARA.

[6] National Commission on Fraudulent Final Reporting (NCFFR) (The Trade way commission), (1987), Report of the National Commission on Fraudulent Financial Reporting, New York, NY: NCFFR.

[7] S. Hammersley, j., A. Myers, l., Shakespeare, c., ( 2007), Market reactions to the disclosure of internal control weaknesses and to the characteristics of those weaknesses under section 302 of the Sarbanes Oxley Act of 2002, Rev Acc Stud (2008).

DOI: https://doi.org/10.1007/s11142-007-9046-z

[8] Mcmullen, D.A., K, Ranjunandan and, D.V. Rana., (1996). Internal control report and financial reporting problems. Accounting Horizons, 10 (December): 67-75.

[9] U.S. House of Representatives, ( 1985), Hearingsbefore the Subcommittee on Oversight Investigations of the House Committee on Energy and Commerce, 20 February, pp.99-117.

[10] Doyle, J., Ge, W., McVay, S., (2007), D eterminants of weaknesses in internal control.

Show More Hide
Cited By:
This article has no citations.