Warren Maroun

Warren Maroun
University of the Witwatersrand | wits · School of Accountancy

PhD

About

131
Publications
91,108
Reads
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2,435
Citations
Citations since 2017
83 Research Items
2278 Citations
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Introduction
The Centre for Critical Accounting & Auditing Research (CCAAR) is based in the School of Accountancy at Wits University, South Africa. The Centre acts as a forum for research into accounting and auditing and adopts a broad social and political context, focusing on issues of sustainability as well as embracing historical perspectives and utopian visions of accounting. The researchers in the Centre and international researchers affiliated with the Centre represent a South African hub for accounting and auditing research that explores and seeks to address urgent 21st-century issues relating to integrated reporting, ecological and biodiversity accounting and auditing, often approaching research through a critical accounting lens.
Additional affiliations
January 2012 - present
University of the Witwatersrand
Position
  • Financial Reporting
Education
January 2008 - December 2009
University of the Witwatersrand
Field of study
  • Accountancy

Publications

Publications (131)
Article
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Purpose: The aim of this study was to analyse the key audit matters (KAMs) being reported in South Africa by assessing 356 Johannesburg Stock Exchange (JSE)–listed entities’ audit reports from 2017 to 2020, which entailed 1424 audit reports and 2903 KAM disclosures. Design/methodology/approach: The study assessed the impact and inter-relationship...
Article
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Audit regulators remain divided on whether the costs of mandatory audit firm rotation (MAFR) will be outweighed by the benefits of the regulation. Existing research provides mixed results in support of the benefits of MAFR. This paper aims to complement these studies by examining what costs and benefits are experienced during the initial engagement...
Article
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Purpose – Integrated thinking involves a holistic, multi-capital approach to decision-making and operations to promote value creation and sustainability. This paper aims to outline a schematic which can be used to gauge the levels of integrated thinking by organisations. Design/methodology/approach – The researchers partnered with an independent c...
Article
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Purpose This paper assesses the state and development of integrated thinking research in selected developed and developing economies by providing a “stock taking” of the literature included in the Scopus Database based on filtered criteria. Design/methodology/approach A search was performed on the Scopus Database and all sources containing “integr...
Article
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The expansion of the auditor’s reporting duties with the introduction of critical or key audit matters (KAMs) has reignited interest in the determinants and consequences of the rules and regulations aimed at improving audit’s functionality and quality. This paper expands on a growing body of work which investigates possible determinants of the KAMs...
Article
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Currently, professional football clubs only recognise purchased player contracts (player registrations) in their financial statements. The costs associated with home-grown players are expensed. Furthermore, acquired player registrations must be held under the historical cost model because revaluations are only permitted when an active market for id...
Article
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The purpose of this paper is to examine companies’ business model disclosures in their integrated reports and to explore the possible determinants of more detailed business model disclosures. Content analysis is used to identify disclosure themes in the integrated reports of 40 companies listed on the Johannesburg Stock Exchange. Descriptive statis...
Article
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Abstract Research Question/Issue This paper investigates the relationship between the use of external assurance for testing integrated reports (ESG assurance) and firm-level governance features: the board of directors, the audit and/or risk committee, and the internal audit department. Data are collected from South Africa where integrated reporting...
Article
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The estimation of firm growth is increasingly relevant to providers of capital in periods of economic uncertainty. The current study employs univariate and multivariate analyses to assess the impact of real GDP and the dividend payout ratio on earnings growth of JSE-listed firms. The findings reveal that there is no relationship between these hypot...
Article
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Purpose – This paper aims to explore the biodiversity reporting bya state-owned entity responsible for conserving and protecting biodiversity assets in South Africa, the South African National Parks (SANParks)(SOC)Limited. Design/methodology/approach – This study uses content analysis to explore and investigate the disclosure themes in the SANPar...
Article
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The purpose of this article was to consider the need for guidelines and consistent criteria for support and enrichment of students facing the transition from secondary school to tertiary education, and some of the challenges involved. The article's narrow context is language and accounting; the wider context is challenges faced by most students and...
Article
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Adopting a theoretical framework from social narrative therapy, this paper examines how new realities are being constantly created as the corporate narrative is rewritten or ‘re-storied’ through engagement between NGO-therapists and corporate-clients. Detailed interviews are conducted with twenty-one NGOs operating in a developing economy and worki...
Conference Paper
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The purpose of this paper is to examine how integrated thinking can be used to assist those charged with governance in ensuring that the organisation’s core purpose, risks, opportunities, and strategy are inseparable elements of the value creation process during the COVID-19 crisis. The authors used a stakeholder approach as outlined in King-IV to...
Conference Paper
The past few years have seen a significant increase in environmental related issues, the main ones being water shortages and climate change. Furthermore, in the mining sector, there has also been multiple incidents relating to waste produced, oil spills and an increase in greenhouse gas emissions. This has led to significant regulations and pressur...
Conference Paper
The past few years have seen a significant increase in environmental related issues, the main ones being water shortages and climate change. Furthermore, in the mining sector, there has also been multiple incidents relating to waste produced, oil spills and an increase in greenhouse gas emissions. This has led to significant regulations and pressur...
Article
Full-text available
Purpose The study aims to deepen the understanding of why risk management principles are circumvented, thereby contributing to transgressions in public procurement for South African state-owned enterprises (SOEs). A deeper understanding of why risk management principles are circumvented is especially important in South Africa, given the high social...
Article
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This study responds to calls for additional research on how accounting prescriptions are being operationalised with a specific focus on fair value accounting by individual practitioners. Detailed interviews are carried out to evaluate how accountants understand and resist fair value accounting. The nature of resistance is used to distinguish betwee...
Article
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This paper's finding's will be useful for both practitioners and academics grappling with the difficulty of defining ‘equity’ and ‘liabilities’. In addition, the research makes a valuable contribution by addressing the need for interpretive‐inspired financial reporting research. This paper explores the distinction between ‘equity’ and ‘liabilities...
Article
Purpose This paper explores how technical constructions of audit practice are influenced by mandatory audit firm rotation (MAFR) regulations. The paper responds to calls for additional research on how external regulation influences audit quality and supplements the predominately quantitative research dealing specifically with firm rotation and its...
Article
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Background: The article focuses on inconsistencies in audit approaches when auditors place reliance on the work performed by others. It examines differences in the approach followed by auditors when relying on the work of a predecessor versus the work of an auditor’s expert. Setting: The study contributes to the limited body of auditing research f...
Article
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This paper responds to calls for more normative research on biodiversity accounting and reporting. It develops a model for reporting on biodiversity informed by earlier work on biodiversity reporting, ecological reporting and extinction accounting as well as the guidance on integrated and sustainability reporting developed by the International Inte...
Article
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Purpose The objective of this research is to explore the challenges being encountered when applying and implementing fair value accounting requirements, focusing specifically on the determination of fair value per International Financial Reporting Standards (IFRS) 13: Fair value measurement (IFRS 13) in the South African capital market. Design/met...
Article
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Research purpose: This paper explores how companies in the South African retail sector are communicating with their stakeholders during the COVID-19 lockdown period. The research outlines the financial impact of the pandemic on the sector and how retail companies use different communication platforms to provide stakeholders with material informatio...
Article
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This research adds to the audit quality literature by examining inspection findings generated by an independent regulator in an African setting. The study is concerned with the nature of weaknesses identified at both firm and engagement level, categorising inspection findings according to their possible impact on audit quality and identifying those...
Article
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This discursive paper develops a normative model for accounting for soil health inspired by earlier work on biodiversity reporting, ecological accounting and extinction accounting. The model provides a framework for reporting on the biological context, strategic relevance and policy implications of soil degradation at an organisational level. It of...
Article
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External assurance engagements performed by auditors and consultants to test sections of organisations' sustainability and integrated reports have become commonplace and are examined in detail by the prior research. Less often considered is how different types of internal and external sources of assurance form part of a combined assurance model tha...
Article
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Purpose This study aims to address an acknowledged gap in the literature for the analysis of experienced practitioner views on the effects and implications of mandatory audit firm rotation (MAFR). Design/methodology/approach Using an exploratory and sequential design, data was collected from South African regulatory policy documents, organisationa...
Technical Report
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Just over a decade has passed since South African companies started to prepare integrated reports. This document outlines the benefits and drivers of better quality reporting. Impediments to high quality reporting are also covered.
Article
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Background: The accounting for goodwill under the International Financial Reporting Standard 3 has become generally accepted as a basis for providing useful information to users of financial statements. However, the International Accounting Standards Board has conducted a review of the International Financial Reporting Standard 3, the focus of whic...
Technical Report
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On 11 March 2020, the World Health Organisation (WHO) announced that COVID-19 was a pandemic [1]. On 15 March 2020, the South African Government declared a national disaster. Consistent with other countries (such as Italy, Denmark and the UK) a lockdown was implemented restricting the movement of non-essential workers. It remains in effect at the t...
Book
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This timely handbook provides a current and comprehensive examination of integrated reporting, both practical and research-based. It offers insights and different perspectives from more than 60 authors, including representatives of the International Integrated Reporting Council, Integrated Reporting Committee of South Africa, professional bodies an...
Chapter
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This chapter provides a brief overview of integrated reporting (IR). An integrated report should be a concise account of an organization’s future value creation story, including information on financial and non-financial capitals, and referencing the organization’s strategy and business model. IR started in practice and was later formalized, first...
Article
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Purpose This research complements the corporate reporting literature by exploring the different types of assurance, which companies are using to bolster the credibility of their integrated and sustainability reports. A composite quality measure is proposed and this study aims to provide evidence on how combined assurance quality (CAQ) varies among...
Article
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Purpose This paper explores the historical roots of accounting for biodiversity and extinction accounting by analysing the 18th-century Naturalist's Journals of Gilbert White and interpreting them as biodiversity accounts produced by an interested party. The authors aim to contribute to the accounting history literature by extending the form of acc...
Article
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The prior research on different forms of what can be referred to as corporate social responsibility (CSR) reporting is vast. As CSR reporting becomes more commonplace, the theoretical and empirical analysis of this type of reporting has matured and both academics and practitioners have begun to explore the possibility of having CSR disclosures assu...
Article
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Using institutional logics as a theoretical framework and interviews with 20 preparers from 14 large organisations listed on the Johannesburg Stock Exchange (JSE), this paper focuses on examining differences in integrated reporting practices. The results reveal how a finance-centric market and professional logic interact with a stakeholder logic, l...
Article
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Background: This article examines features of the tax systems of 19 African countries with material mining operations. Objectives: An interpretive approach is used to explore the implications of a country’s commitment to democracy (according to the Economist Intelligence Unit) and perceived levels of corruption (according to Transparency Internati...
Article
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This paper contributes to the literature on internal benefits and positive capital market effects of integrated reporting by examining whether or not external assurance acts as a driver of high quality integrated reports. It answers calls for additional research on integrated reporting practice and is also timely, given the current discussions by...
Article
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Purpose The purpose of this paper is to examine why companies assure some of the information found in their integrated reports, possible changes required to existing assurance practices and the motivation for either seeking to expand current technologies of assurance or to maintain the status quo. Design/methodology/approach The research is explor...
Article
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Purpose This paper aims to examine the differences in quality and quantity of disclosures dealing with greenhouse gas emissions among companies with a relatively large or small carbon footprint. It also considers whether disclosures are being included in the primary report to stakeholders (an integrated report) or in a secondary source (a sustainab...
Article
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This paper develops a measure for integrated report quality and explores possible drivers of high-quality reporting considering a sample of large listed companies in 2015 and 2016. Data are collected from South Africa where integrated reporting has been established for a number of years and where companies have had the time to interpret and apply r...
Article
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This article deals with some common misconceptions about qualitative research. Qualitative studies are well suited to studying complex interconnections and relationships without reducing the complexity to simple numbers or variables. Rather than excluding outliers from a dataset, qualitative researchers are interested in these exceptions and often...
Book
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Assurance, risk and governance: An international perspective provides comprehensive resource for students of assurance practices. It is also a helpful reference for practitioners, who need to stay abreast of developments in the profession. The book explains the technical functioning of assurance processes at an advanced level using a principles-bas...
Article
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Purpose The purpose of this paper is to examine the possibility of South African companies listed on the Johannesburg Stock Exchange (JSE) using adjusted earnings as a part of an impression expectation management strategy focused on demonstrating how reported earnings measures meeting or beating analysts’ earnings forecasts. Design/methodology/ap...
Article
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Purpose This study aims to examine biodiversity reporting by South African food producers and retailers. It not only draws attention to the disconnect between reporting on an important environmental issue and the sense of commitment to environmental responsibility, but also shows that over time, organisations are becoming more proactive about biod...
Article
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This study examines how social disclosures by the world's three largest producers of platinum group metals (all located in South Africa) are used to address stakeholders’ divergent expectations after significant labour unrest at their mining operations during 2012. Organised hypocrisy is used as a theoretical framework to demonstrate how companies...
Article
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Purpose The purpose of this study is to examine how social disclosures by one of the world’s largest producers of Platinum Group Metals are used to maintain and repair legitimacy in the context of South Africa’s prevailing socio-economic conditions and in response to the immediate challenge to legitimacy posed by violent worker demonstrations takin...
Article
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Purpose The purpose of this paper is to challenge the notion that non-financial reporting is mainly about impression management or is only a superficial response to the hegemonic challenges posed by the sustainability movement. It focuses on the most recent development in sustainability reporting (integrated reporting) as an example of how accounti...
Article
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Purpose This paper aims to explore the emphasis placed on certain integrated reporting themes by financial services companies and stakeholders’ perception of the importance of these themes to ascertain if a perception gap exists. The study also considers if the perception gap is affected by user sophistication. Design/methodology/approach This pap...
Article
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In the light of widespread concern about, and continual questioning of, South African education, this article aims to examine levels of literacy among learners and students in the primary, intersen and senior phases, in the attempt to understand and to address at least some of the issues in the high drop-out and failure rates at tertiary level. The...
Article
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Using an exploratory interpretive research approach and International Financial Reporting Standards (IFRS) 13 as a case study, this article investigates the factors that affect the decision to adopt a specific IFRS early. The research findings are significant as very little interpretive research has been performed on financial reporting from a Sout...
Article
Full-text available
Using an exploratory interpretive research approach and International Financial Reporting Standards (IFRS) 13 as a case study, this article investigates the factors that affect the decision to adopt a specific IFRS early. The research findings are significant as very little interpretive research has been performed on financial reporting from a Sout...
Article
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Background: Biodiversity reporting is an area of sustainability accounting research that has received comparatively little attention from the academic community. This is despite the growing scientific concern about climate change, habitat destruction and extinction of species and mounting evidence on the implications of these environmental issues f...
Chapter
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This chapter discusses institutional theory and its application to sustainability accounting. The chapter is divided into two main sections. The first explores the concept of institutional pressures and how these pressures influence the behaviour of organizations, often resulting in similar procedures being adopted by organizations under similar pr...
Article
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Purpose This research evaluates responses to the International Public Sector Accounting Standards Board’s (IPSASB) proposed conceptual framework for evidence of support of new public management (NPM) doctrines by key stakeholders, namely, accounting professionals, government agencies and international bodies. Design/methodology/approach The rese...
Article
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Purpose: Traditional methods of assurance outlined by current professional standards are risk-based models where the emphasis is on the veracity of published data rather than on the rigour of the interpretation or analysis of information provided to users. As such, they are not well suited for expressing an opinion on qualitative, subjective or for...
Article
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Purpose We are currently experiencing what is often called the sixth period of mass extinction on planet Earth, caused undoubtedly by the impact of human activities and businesses on nature. The purpose of this paper is to explore the potential for accounting and corporate accountability to contribute to extinction prevention. The paper adopts an i...
Article
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This paper adopts a normative approach to develop a dynamic form of corporate reporting designed to deal with the threat posed by mass extinction of species. The proposed reporting framework is intended to show how a type of accounting - which is referred to as extinction accounting - can and should be used to drive positive corporate change and pr...
Chapter
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This chapter provides a brief overview of the book and discusses the likely future of the practice of and research on sustainability accounting and integrated reporting. Sustainability accounting includes reporting, the management control systems to support reporting, and the assurance of external reporting. The rapid mainstreaming of sustainabilit...
Article
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This paper investigates the current extent of social-, environmental- and economic- (SEE) related strategy disclosure of companies listed in the financial services sector of the Johannesburg Stock Exchange. It uses signalling and legitimacy theory to analyse the findings from a developed SEE strategy-related disclosure checklist. The paper finds so...
Article
Purpose This study adds to the limited body of interpretive research on integrated reporting by exploring challenges to preparing an integrated report. This is done using an integrated thinking framework which stresses the importance of an interconnection between sustainability performance, proactive sustainability management and integrated report...
Article
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Purpose: This article develops a conceptual model for examining the development of integrated reporting, relates the articles in this Meditari Accountancy Research special issue on integrated reporting to the model, and identifies areas for future research. Design/methodology/approach: The article uses a narrative/discursive style to summarise ke...
Article
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This paper offers evidence on the relevance of legitimacy theory for explaining changes in the frequency of corporate social responsibility (CSR) disclosures by South African platinum mining companies following violent strike action during 2012 at Marikana. The results show that all of the South African platinum mining companies provide additional...
Article
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Purpose The purpose of this paper is to explore a possible framework for extinction accounting which builds on but also extends significantly the existing GRI guidelines relating to species identified by the International Union for the Conservation of Nature Red List as under threat of extinction. Design/methodology/approach The paper analyses dis...
Article
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Purpose: Independent monitoring and review bodies have become a defining feature of the professional accounting and auditing space. Exactly how these institutions function to improve the quality of the corporate reporting or audit function is, however, poorly understood. Consequently, the aim of this study is to provide empirical evidence on how th...
Article
There is little guidance on how integrated reports could be the subject matter of a conventional assurance engagement despite their growing use as an important means of communicating with stakeholders. This paper takes the first step in addressing this issue. The study relies on primary data collected from recorded interviews with 20 audit experts...
Article
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Purpose Tax risk-management (TRM) is relatively understudied in the area of corporate governance and integrated reporting. The purpose of this study is to identify whether South African organisations identify, rank and manage tax risks in terms of importance and relevance to their own corporation. The study also aims to identify the link, if any, b...
Article
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The purpose of this study is to examine to what extent South African companies listed on the local stock exchange in the mining and food producer and retail sectors are including biodiversity-related issues in their integrated and sustainability reports. The study employs established biodiversity reporting frameworks for gauging changes in the freq...
Article
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This research adopts a normative approach. It builds on the academic literature which argues that the usefulness of financial reporting can be enhanced by aligning accounting for balances and transactions with an organisation’s business model, as presented in its integrated report. This is done using examination fees collected by the South African...
Book
Full-text available
Article
This paper uses IFRS 10 and IFRS 12 as a case study to demonstrate how a sense of enclosure, partitioning, hierarchical surveillance and normalising sanction is used to encourage compliance with new accounting prescriptions. Detailed interviews with corporate governance, financial reporting and financial regulatory experts are used to explore the f...
Article
Purpose Given its innovative characteristics and increasing popularity, the Bitcoin, and other virtual currencies, are expected to become mainstream, leading to the need for a generally accepted accounting treatment. Currently, however, there are no accounting standards which offer guidance on the recognition and measurement of these virtual curren...
Article
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This study tests for the value relevance of corporate responsibility reporting (CRR) based on a sample of companies listed on the Johannesburg Stock Exchange (JSE). It also provides evidence of the statistical significance of the potential contribution of CRR to share price values in the South African context at a particular point. On the basis of...
Article
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This study examines the potential impact of industrial unrest and the outbreak of violence at Marikana on 16 August 2012 on the share prices of mining companies listed on the Johannesburg Stock Exchange (JSE) using an event methodology. Contrary to expectations, the Marikana incident does not appear to have had a widespread and prolonged effect on...
Technical Report
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This report focuses on the issue of independent assurance: can and should independent assurance be delivered on in the same way as it is on conventional annual reports and financial statements? The views of a number of senior assurance practitioners from the South African auditing profession show that although most respondents support the concept o...
Article
Purpose – This paper aims to highlight key limitations of meta-analyses (and the underlying research) dealing with the correlation between corporate social environmental disclosures (CESDs) and financial measures, using cultural characteristics as moderating variables. Design/methodology/approach – This paper takes the form of a review. It discuss...
Article
The recently released International Financial Reporting Standards (IFRS) on consolidation accounting are used as a case study for demonstrating how coercive, normative and mimetic isomorphism are at work, driving a propensity to comply with the IFRS. At the same time the research explores how a ‘logic of resistance’ by preparers of financial statem...
Article
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There is a large body of international literature which suggests that there is a correlation between organisational legitimacy, the nature and extent of non-financial disclosures in corporate reports, and the society’s awareness of social, governance and environmental concerns. Little studied, however, is corporate reporting in South Africa through...
Article
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Purpose This report explores the initial reactions of the South African institutional investment community to the first sets of integrated reports being prepared by companies listed on the Johannesburg Securities Exchange. The research highlights a shift in attitude towards ESG and integrated reporting, initial views on the first sets of integrate...
Article
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Purpose In this paper we attempt to provide a ray of hope, in the form of a Morris-style utopian dream of a sustainable world, as a basis for new forms of accounting and accountability in contemporary society Design/methodology/approach The method is four-fold, weaving together an auto-ethnographic approach, a contextual dialogue between accountin...

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Question
Where one has a change in ownership interests, how should the goodwill affect the gain or loss or amount posted to equity?

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