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In June 2023, the Public Company Accounting Oversight Board (PCAOB) proposed sweeping amendments to its auditing standards. Comment letters raise serious questions about the...
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Financial Times: New independence policies a challenge to other Big Four accounting firms.
The move comes amid a worldwide debate over how to ensure accounting firms remain independent of the companies they audit.
This paper examines the effects of audit quality and firm growth on the relationship between corporate cash holdings and firm performance by using a sample of about 2500 unique non-financial Indian firms from 2000 to 2017, consisting of 51,388 firm-year observations. The results obtained by controlling for potential endogeneity using the dynamic panel generalised method of moment (GMM) approach show that cash holdings have an inverse U-shaped (concave) relationship with firm performance, which is stronger for firms with higher audit quality than firms with lower audit quality. Our findings als...
A 2021 article in the WSJ about carbon emissions identified “[o]ne problem facing regulators and companies: Some of the most important and widely used data is hard to both measure and...