Record Details

The FRIP as a Mechanism of Accountability in the South African Financial Reporting Environment

The Journal of Accounting and Management

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Field Value
 
Title The FRIP as a Mechanism of Accountability in the South African Financial Reporting Environment
 
Creator Louw, Albertus; University of the Witwatersrand, School of Accountancy
Maroun, Warren; University of the Witwatersrand, School of Accountancy
 
Subject Financial Reporting Investigations Committee; Isomorphism; legitimacy; regulation; South Africa
 
Description Objectives This research explores how an independent financial reporting monitoring and review body functions as a mechanism of accountability. Prior Work The paper extends on a critical body of accounting research which draws on institutional theory to explain the functioning of financial reporting systems.  Approach:  Detailed interviews with a sample of practitioners and regulators are used to illuminate the functioning of isomorphic pressures in a financial reporting settingResults Although the review body in question does not enjoy the direct force of law, its’ functions are a significant source of coercive, normative and mimetic isomorphic pressure which drives compliance with accounting standards.  Implications: This makes a case for the establishment of oversight bodies in responses to corporate failures and crises of trust and shows how these bodies contribute to confidence in the capital market by demonstrating that reporting prescriptions and systems of governance are more than just symbolic. Value: The research makes an important contribution by providing a detailed account of precisely how the activities of independent/regulatory review bodies achieve a sense of accountability and drive higher levels of financial reporting quality, something which has been overlooked by the prior literature
 
Publisher The Journal of Accounting and Management
 
Contributor The Sellschope Foundation
 
Date 2016-09-09
 
Type Peer-reviewed Article
 
Format application/pdf
text/html
 
Identifier http://journals.univ-danubius.ro/index.php/jam/article/view/3221
 
Source The Journal of Accounting and Management; Vol 6, No 2 (2016): JAM
 
Language en
 
Relation http://journals.univ-danubius.ro/index.php/jam/article/download/3221/11165
 
Rights The author fully assumes the content originality and the holograph signature makes him responsible in case of trial.