Disclosure Committees: Implications for Disclosure Quality and Timeliness

References

• Abbott, L. J., Parker, S., & Peters, G. (2004). Audit committee characteristics and restatements. Auditing: A Journal of Practice & Theory, 23(1), 69–87. https://doi.org/10.2308/aud.2004.23.1.69
   Web of Science ®Google Scholar
• Agrawal, A., & Chadha, S. (2005). Corporate governance and accounting scandals. Journal of Law and Economics, 48(2), 371–406. https://doi.org/10.1086/430808
   Web of Science ®Google Scholar
• Archambeault, D. S., DeZoort, F. T., & Hermanson, D. R. (2008). Audit committee incentive compensation and accounting restatements. Contemporary Accounting Research, 25(4), 965–992. https://doi.org/10.1506/car.25.4.1
   Web of Science ®Google Scholar
• Arif, S., Marshall, N. T., Schroeder, J. H., & Yohn, T. L. (2019). A growing disparity in earnings disclosure mechanisms: The rise of concurrently released earnings announcements and 10-Ks. Journal of Accounting and Economics, 68(1), 101221. https://doi.org/10.1016/j.jacceco.2018.11.002
   Web of Science ®Google Scholar
• Bailey, C. (2019). The relationship between chief risk officer expertise, ERM quality, and firm performance. Journal of Accounting, Auditing & Finance, 37(1), 205–228. https://doi.org/10.1177/0148558X19850424
   Google Scholar
• Baker, A. C., Larcker, D. F., & Wang, C. C. Y. (2022). How much should we trust staggered difference-in-difference estimates? Journal of Financial Economics, 144(2), 370–395. https://doi.org/10.1016/j.jfineco.2022.01.004
   Web of Science ®Google Scholar
• Barth, M. (2018). Accounting in 2036: A learned profession. The Accounting Review, 93(6), 383–385. https://doi.org/10.2308/accr-10627
   Web of Science ®Google Scholar
• Bartov, E. B., & Konchitchki, Y. (2017). SEC filings, regulatory deadlines, and capital market consequences. Accounting Horizons, 31(4), 109–131. https://doi.org/10.2308/acch-51887
   Web of Science ®Google Scholar
• Battilana, J., Sengul, M., Pache, A., & Model, J. (2015). Harnessing productive tensions in hybrid organizations: The case of work integration social enterprises. Academy of Management Journal, 58(6), 1658–1685. https://doi.org/10.5465/amj.2013.0903
   Web of Science ®Google Scholar
• Baxter, R., Bedard, J., Hoitash, R., & Yezegel, A. (2013). Enterprise risk management program quality: Determinants, value relevance, and the financial crisis. Contemporary Accounting Research, 30(4), 1264–1295. https://doi.org/10.1111/j.1911-3846.2012.01194.x
   Web of Science ®Google Scholar
• Beasley, M., Branson, B., & Pagach, D. (2015). An analysis of the maturity and strategic impact of investments in ERM. Journal of Accounting and Public Policy, 34(3), 219–243. https://doi.org/10.1016/j.jaccpubpol.2015.01.001
   Web of Science ®Google Scholar
• Belsley, D., Kuh, E., & Welsch, E. R. (1980). Regression diagnostics: Identifying influential data and sources of collinearity. Wiley & Son.
   Google Scholar
• Bens, D. A., & Johnston, R. (2009). Accounting discretion: Use or abuse? An analysis of restructuring charges surrounding regulator action. Contemporary Accounting Research, 26(3), 673–699. https://doi.org/10.1506/car.26.3.2
   Web of Science ®Google Scholar
• Bills, K., Cunningham, L., & Myers, L. (2016a). Small audit firm membership in associations, networks, and alliances: Implications for audit quality and audit fees. The Accounting Review, 91(3), 767–792. https://doi.org/10.2308/accr-51228
   Web of Science ®Google Scholar
• Bills, K., Swanquist, Q., & Whited, R. (2016b). Growing pains: Audit quality and office growth. Contemporary Accounting Research, 33(1), 288–313. https://doi.org/10.1111/1911-3846.12122
   Web of Science ®Google Scholar
• Bonsall, S. B., Leone, A. J., Miller, B. P., & Rennekamp, K. (2017). A plain English measure of financial reporting readability. Journal of Accounting & Economics, 63(2/3), 329–357. https://doi.org/10.1016/j.jacceco.2017.03.002
   Web of Science ®Google Scholar
• Botosan, C. A., & Plumlee, M. A. (2002). A re-examination of disclosure level and the expected cost of equity capital. Journal of Accounting Research, 40(1), 21–40. https://doi.org/10.1111/1475-679X.00037
   Web of Science ®Google Scholar
• Brown, S., & Hillegeist, S. (2007). How disclosure quality affects the level of information asymmetry. Review of Accounting Studies, 12(2/3), 443–477. https://doi.org/10.1007/s11142-007-9032-5
   Web of Science ®Google Scholar
• Bryant-Kutcher, L., Peng, E. Y., & Weber, D. P. (2013). Regulating the timing of disclosure: Insights from the acceleration of 10-K filing deadlines. Journal of Accounting and Public Policy, 32(6), 475–494. https://doi.org/10.1016/j.jaccpubpol.2013.08.003
   Web of Science ®Google Scholar
• Bushee, B., & Noe, C. F. (2000). Corporate disclosure practices, institutional investors, and stock return volatility. Journal of Accounting Research, 38(3), 171–202. https://doi.org/10.2307/2672914
   Web of Science ®Google Scholar
• Callaway, B., & Sant’Anna, P. H. C. (2021). Difference-in-differences with multiple time periods. Journal of Econometrics, 225(2), 200–230. https://doi.org/10.1016/j.jeconom.2020.12.001
   Web of Science ®Google Scholar
• Carcello, J. V., Hermanson, D. R., & Ye, Z. (2011). Corporate governance research in accounting and auditing: Insights, practice implications, and future research directions. Auditing: A Journal of Practice & Theory, 30(3), 1–31. https://doi.org/10.2308/ajpt-10112
   Web of Science ®Google Scholar
• Carcello, J. V., & Li, C. (2013). Costs and benefits of requiring an engagement partner signature: Recent experience in the United Kingdom. The Accounting Review, 88(5), 1511–1546. https://doi.org/10.2308/accr-50450
   Web of Science ®Google Scholar
• Choi, J. H., Kim, J. B., Qiu, A. A., & Zang, Y. (2012). Geographic proximity between auditor and client: How does it impact audit quality? Auditing: A Journal of Practice & Theory, 31(2), 43–72. https://doi.org/10.2308/ajpt-10241
   Web of Science ®Google Scholar
• Cohen, J. R., Krishnamoorth, G., & Wright, A. M. (2008). Form versus substance: The implications for auditing practice and research of alternative perspectives on corporate governance. Auditing: A Journal of Practice & Theory, 27(2), 181–198. https://doi.org/10.2308/aud.2008.27.2.181
   Web of Science ®Google Scholar
• Cunningham, L. M., Li, C., Stein, S. E., & Wright, N. S. (2019). What’s in a name? Initial evidence of U.S. Audit partner identification using differences-in-differences analyses. The Accounting Review, 94(5), 139–163. https://doi.org/10.2308/accr-52305
   Web of Science ®Google Scholar
• Dechow, P. M., & Dichev, I. D. (2002). The quality of accruals and earnings: The role of accrual estimation errors. The Accounting Review, 77(4), 35–59. https://doi.org/10.2308/accr.2002.77.s-1.35
   Web of Science ®Google Scholar
• Dechow, P. M., Ge, W., Larson, C. R., & Sloan, R. G. (2011). Predicting material accounting misstatements. Contemporary Accounting Research, 28(1), 17–82. https://doi.org/10.1111/j.1911-3846.2010.01041.x
   Web of Science ®Google Scholar
• Deloitte. (2013). Disclosure Committees – Frequently Asked Questions. https://deloitte.wsj.com/articles/disclosure-committees8212frequently-asked-questions-1386824537?tesla = y
   Google Scholar
• Desai, H., Hogan, C. E., & Wilkins, M. S. (2006). The reputational penalty for aggressive accounting: Earnings restatements and management turnover. The Accounting Review, 81(1), 83–112. https://doi.org/10.2308/accr.2006.81.1.83
   Web of Science ®Google Scholar
• Dong, B., Robinson, D., & Xu, L. (2018). Auditor-client geographic proximity and audit report timeliness. Advances in Accounting, 40, 11–19. https://doi.org/10.1016/j.adiac.2017.12.001
   Web of Science ®Google Scholar
• Donmez, D., Grote, G., & Brusoni, S. (2016). Routine interdependencies as a source of stability and flexibility. A study of agile software development teams. Information and Organization, 25(3), 63–83. https://doi.org/10.1016/j.infoandorg.2016.07.001
   Google Scholar
• Draeger, M. A., Haislip, J., & Sterin, M. (2021). Is audit committee power associated with audit completeness and earnings announcement timing? Accounting Horizons, Advance online publication. https://doi.org/10.2308/HORIZONS-2019-522
   Web of Science ®Google Scholar
• Edmonds, C. T., Edmonds, J. E., Vermeer, B. Y., & Vermeer, T. E. (2017). Does timeliness of financial information matter in the governmental sector? Journal of Accounting and Public Policy, 36(2), 163–176. https://doi.org/10.1016/j.jaccpubpol.2017.02.002
   Web of Science ®Google Scholar
• EY and Financial Executives Research Foundation. (2014). Unlocking the potential of disclosure committees. https://assets.ey.com/content/dam/ey-sites/ey-com/en_us/topics/assurance/ey-unlocking-the-potential-of-disclosure-committees.pdf
   Google Scholar
• EY and Financial Executives Research Foundation. (2015). Disclosure effectiveness: companies embrace the call to action. https://www.ey.com/Publication/vwLUAssets/EY-disclosure-effectiveness-report/$FILE/EY-disclosure-effectiveness-report.pdf
   Google Scholar
• Financial Executives Research Foundation (FERF). (2017). Audit fee survey report. https://www.financialexecutives.org/Research/Publications/2018/2017-Audit-Fee-Survey-Report.aspx
   Google Scholar
• Francis, J. R., & Yu, M. D. (2009). Big 4 office size and audit quality. The Accounting Review, 84(5), 1521–1552. https://doi.org/10.2308/accr.2009.84.5.1521
   Web of Science ®Google Scholar
• Gietzmann, M. B., & Pettinicchio, A. K. (2014). External auditor reassessment of client business risk following the issuance of a comment letter by the SEC. European Accounting Review, 23(2), 57–85. https://doi.org/10.1080/09638180.2013.774703
   Google Scholar
• Givoly, D., & Palmon, D. (1982). Timeliness of annual earnings announcements: Some empirical evidence. The Accounting Review, 57(3), 486–508.
   Web of Science ®Google Scholar
• Greene, W. (2008). Econometric analysis. Pearson/Prentice Hall.
   Google Scholar
• Gul, F. A., Fung, S. Y. K., & Jaggi, B. (2009). Earnings quality: Some evidence on the role of auditor tenure and auditors’ industry expertise. Journal of Accounting and Economics, 47(3), 265–287. https://doi.org/10.1016/j.jacceco.2009.03.001
   Web of Science ®Google Scholar
• Hainmueller, J. (2012). Entropy balancing for causal effects: A multivariate reweighting method to produce balanced samples in observational studies. Political Analysis, 20(1), 25–46. https://doi.org/10.1093/pan/mpr025
   Web of Science ®Google Scholar
• Hainmueller, J., & Xu, Y. (2013). Ebalance: A stata package for entropy balancing. Journal of Statistical Software, 54(7), 1–18. https://doi.org/10.18637/jss.v054.i07
   Web of Science ®Google Scholar
• Haislip, J. Z., Karim, K. E., Lin, K. J., & Pinsker, R. E. (2020). The influences of CEO IT expertise and board-level technology committees on form 8-K disclosure timeliness. Journal of Information Systems, 34(2), 167–185. https://doi.org/10.2308/isys-52530
   Web of Science ®Google Scholar
• Haislip, J. Z., Pinsker, R. E., Smith, T. J., & Young, G. R. (2016). The relationship between board-level technology committees and reported security breaches. Journal of Information Systems, 30(3), 79–98. https://doi.org/10.2308/isys-51402
   Google Scholar
• Higgins, K. (2014). Disclosure effectiveness: remarks before the American Bar Association Business Law Section spring meeting. https://www.sec.gov/news/speech/2014-spch041114kfh
   Google Scholar
• Hines, C. S., Masli, A., Mauldin, E. G., & Peters, G. F. (2015). Board risk committees and audit pricing. Auditing: A Journal of Practice & Theory, 34(4), 59–84. https://doi.org/10.2308/ajpt-51035
   Web of Science ®Google Scholar
• Hines, C. S., & Peters, G. F. (2015). Voluntary risk management committee formation: Determinants and short-term outcomes. Journal of Accounting and Public Policy, 34(3), 267–290. https://doi.org/10.1016/j.jaccpubpol.2015.02.001
   Web of Science ®Google Scholar
• Hosmer, D., & Lemeshow, S. (2013). Applied logistic regression. Wiley Series in Probability and Statistics. John Wiley & Sons, Inc.
   Google Scholar
• Hribar, P., & Jenkins, N. (2004). The effect of accounting restatements on earnings revisions and the estimated cost of capital. Review of Accounting Studies, 9(2/3), 337–356. https://doi.org/10.1023/B:RAST.0000028194.11371.42
   Web of Science ®Google Scholar
• Ji, A. E., Kumar, K. R., Pei, H., & Xue, Y. (2019). Does the market value auditors’ industry specializations? Evidence from the contagion effects of restatements. Accounting Horizons, 33(1), 125–152. https://doi.org/10.2308/acch-52350
   Web of Science ®Google Scholar
• Judge, T. A., Piccolo, R. F., & Ilies, R. (2004). The forgotten ones? The validity of consideration and initiating structure in leadership research. Journal of Applied Psychology, 89(1), 36–51. https://doi.org/10.1037/0021-9010.89.1.36
   PubMed Web of Science ®Google Scholar
• Kaplan, R. (2011). Accounting scholarship that advances professional knowledge and practice. The Accounting Review, 86(2), 367–383. https://doi.org/10.2308/accr.00000031
   Web of Science ®Google Scholar
• Karimi, J., Bhattacherjee, A., Gupta, Y. P., & Somers, T. M. (2000). The effects of MIS steering committees on information technology management sophistication. Journal of Management Information Systems, 17(2), 207–230. https://doi.org/10.1080/07421222.2000.11045641
   Web of Science ®Google Scholar
• Keller, R. T. (2006). Transformational leadership, initiating structure, substitutes for leadership: A longitudinal study of research and development project team performance. Journal of Applied Psychology, 91(1), 202–210. https://doi.org/10.1037/0021-9010.91.1.202
   PubMed Web of Science ®Google Scholar
• Krishnain, G. V., & Visvanathan, G. (2008). Does the SOX definition of an accounting expert matter? The association between audit committee directors’ accounting expertise and accounting conservatism. Contemporary Accounting Research, 25(3), 827–857. https://doi.org/10.1506/car.25.3.7
   Web of Science ®Google Scholar
• Kubick, T. R., Omer, T. C., & Wiebe, Z. (2020). The effect of voluntary clawback adoptions on corporate tax policy. The Accounting Review, 95(1), 259–285. https://doi.org/10.2308/accr-52484
   Web of Science ®Google Scholar
• Lambert, T. A., Jones, K. L., Brazel, J. F., & Showalter, D. S. (2017). Audit time pressure and earnings quality: An examination of accelerated filings. Accounting, Organizations, and Society, 58(April), 50–66. https://doi.org/10.1016/j.aos.2017.03.003
   Google Scholar
• Lee, J., & Park, J. (2019). The impact of audit committee financial expertise on management discussion and analysis (MD&A) tone. European Accounting Review, 28(1), 129–150. https://doi.org/10.1080/09638180.2018.1447387
   Web of Science ®Google Scholar
• Lehavy, R., Li, F., & Merkley, K. (2011). The effect of annual report readability on analyst following and the properties of their earnings forecasts. The Accounting Review, 86(3), 1087–1115. https://doi.org/10.2308/accr.00000043
   Web of Science ®Google Scholar
• Marshall, N., Schroeder, J., & Yohn, T. (2019). An incomplete audit at the earnings announcement: Implications for financial reporting quality and the market’s response to earnings. Contemporary Accounting Research, 36(4), 2035–2068. https://doi.org/10.1111/1911-3846.12472
   Web of Science ®Google Scholar
• Menon, K., & Williams, J. D. (1994). The use of audit committees for monitoring. Journal of Accounting and Public Policy, 13(2), 121–139. https://doi.org/10.1016/0278-4254(94)90016-7
   Web of Science ®Google Scholar
• Mintzberg, H. (1979). The structuring of organizations. Prentice-Hall.
   Google Scholar
• Nadler, D. A., & Tushman, M. L. (1990). Beyond the charismatic leader: Leadership and organizational change. California Management Review, 32(2), 77–97. https://doi.org/10.2307/41166606
   Web of Science ®Google Scholar
• Newton, N. J., Wang, D., & Wilkins, M. S. (2013). Does a lack of choice lead to lower quality? Evidence from auditor competition and client restatements. Auditing: A Journal of Practice & Theory, 32(3), 31–67. https://doi.org/10.2308/ajpt-50461
   Web of Science ®Google Scholar
• O’Toole, L. J., & Meier, K. J. (2003). Bureaucracy and uncertainty. In B. C. Burden (Ed.), Uncertainty in American politics (pp. 98–117). Cambridge University Press.
   Google Scholar
• Palmrose, Z. V., Richardson, V. J., & Scholz, S. (2004). Determinants of market reactions to restatement announcements. Journal of Accounting & Economics, 37(1), 59–89. https://doi.org/10.1016/j.jacceco.2003.06.003
   Web of Science ®Google Scholar
• Paterson, J. S., & Valencia, A. (2011). The effect of recurring and nonrecurring tax, audit-related, and other nonaudit services on auditor independence. Contemporary Accounting Research, 28(5), 1510–1535. https://doi.org/10.1111/j.1911-3846.2010.01060.x
   Web of Science ®Google Scholar
• Perrow, C. (1986). Complex organizations: A critical essay (3rd edition). Random House.
   Google Scholar
• Ramirez, J. (2016). Challenges in implementing a robust rates transfer price framework. Journal of Risk Management in Financial Institutions, 9(4), 344–350.
   Google Scholar
• Ramus, T., Vaccaro, A., & Brusoni, S. (2017). Institutional complexity in turbulent times: Formalization, collaboration, and the emergence of blended logics. Academy of Management Journal, 60(4), 1253–1284. https://doi.org/10.5465/amj.2015.0394
   Web of Science ®Google Scholar
• Schmardebeck, L. R. (2015). The determinants and consequences of disclosure committee Adoption. Theses and Dissertations. University of Arkansas. http://scholarworks.uark.edu/etd/1188
   Google Scholar
• Schroeder, J. (2016). The impact of audit completeness and quality on earnings announcement GAAP disclosures. The Accounting Review, 91(2), 677–705. https://doi.org/10.2308/accr-51182
   Web of Science ®Google Scholar
• SEC. (2002b). Final rule: Acceleration of periodic report filing dates and disclosure concerning website access to reports. Release No. 33-8128. http://www.sec.gov/rules/final/33-8128.htm
   Google Scholar
• SEC. (2004). Management's report on internal control over financial reporting and certification of disclosure in exchange act periodic reports. Release No. 33-8392. https://www.sec.gov/rules/final/33-8392.htm
   Google Scholar
• SEC. (2005). Final rule: Revisions to accelerated filer definition and accelerated deadlines for filing periodic reports. Release No. 33-8644. https://www.sec.gov/rules/final/33-8644.pdf
   Google Scholar
• Securities and Exchange Commission (SEC). (2002a). Certification of disclosure in companies’ quarterly and annual Reports. Release No. 33-8124. https://www.sec.gov/rules/final/33-8124.htm
   Google Scholar
• Sellers, R. D., Meckfessel, M. D., Jadallah, J., & Chaghervand, A. M. (2020). Variability of accounting restatement measurement in audit quality research [Unpublished manuscript]. Kent State University.
   Google Scholar
• Sine, W. D., Mitsuhashi, H., & Kirsch, D. A. (2006). Revisiting burns and stalker: Formal structure and new venture performance in emerging economic sectors. Academy of Management Journal, 49(1), 121–132. https://doi.org/10.5465/amj.2006.20785590
   Web of Science ®Google Scholar
• Smith, T. J., Higgs, J. L., & Pinsker, R. E. (2019). Do auditors price breach risk in their audit fees? Journal of Information Systems, 33(2), 177–204. https://doi.org/10.2308/isys-52241
   Web of Science ®Google Scholar
• Srinivasan, S. (2005). Consequences of financial reporting failure for outside directors: Evidence from accounting restatements and audit committee members. Journal of Accounting Research, 43(2), 291–334. https://doi.org/10.1111/j.1475-679x.2005.00172.x
   Web of Science ®Google Scholar
• Stinchcombe, A. (1965). Social structure and organizations. In J.P. March (Ed.) Handbook of organizations (pp. 142–193). Rand McNally.
   Google Scholar
• The Conference Board (TCB). (2016). CEO and executive compensation practices. https://www.conference-board.org/ceo-executive-compensation/
   Google Scholar
• Viscelli, T. R., Hermanson, D. R., & Beasley, M. S. (2017). The integration of ERM and strategy: Implications for corporate governance. Accounting Horizons, 31(2), 69–82. https://doi.org/10.2308/acch-51692
   Web of Science ®Google Scholar
• Westphal, J. D., & Graebner, M. E. (2010). A matter of appearances: How corporate leaders manage the impressions of financial analysts about the conduct of their boards. Academy of Management Journal, 53(1), 15–44. https://doi.org/10.5465/amj.2010.48036721
   Web of Science ®Google Scholar
• Zmijewski, M. E. (1984). Methodological issues related to the estimation of financial distress prediction models. Journal of Accounting Research, 22, 59–82.
   Google Scholar