IRMA-International.org: Creator of Knowledge
Information Resources Management Association
Advancing the Concepts & Practices of Information Resources Management in Modern Organizations

Audit Firms, Deferred Taxation and Financial Reporting: The Case of The Athens Stock Exchange

Audit Firms, Deferred Taxation and Financial Reporting: The Case of The Athens Stock Exchange
View Sample PDF
Author(s): Evangelos Chytis (Technological Educational Institute (T.E.I.) of Epirus, Epirus, Greece), John Filos (Panteion University of Political and Social Sciences, Athens, Greece), Periklis Tagkas (Technological Educational Institute (T.E.I.) of Epirus, Epirus, Greece)and Maria Rodosthenous (Technological Educational Institute (T.E.I.) of Piraeus, Aigaleo, Greece)
Copyright: 2016
Volume: 3
Issue: 1
Pages: 21
Source title: International Journal of Corporate Finance and Accounting (IJCFA)
Editor(s)-in-Chief: Apostolos G. Christopoulos (Department of Business Administration, University of the Aegean, Greece), Constantin Zopounidis (School of Production Engineering and Management, Technical University of Crete, Greece & Audencia Business School, France)and Kyriaki Kosmidou (Aristotle University of Thessaloniki, Greece)
DOI: 10.4018/IJCFA.2016010101

Purchase

View Audit Firms, Deferred Taxation and Financial Reporting: The Case of The Athens Stock Exchange on the publisher's website for pricing and purchasing information.

Abstract

The purpose of this paper is the sectoral analysis and evaluation of the external audit reports in relation to the amounts of deferred taxes on the balance sheets of listed companies in the Athens Stock Exchange (ASE). External auditors participate significantly in the preparation of financial reporting, reducing agency problems and aiding acceptance of such information by the users as reliable. The “unqualified” audit reports correspond to more than two thirds of the total, while in the banking sector there is no “unqualified” (ie without even issue of ‘emphasis') Audit Report after 2011. More than two thirds of Deferred Tax Assets - including those from Loss Carryforwards - (DTA), Deferred Tax Liabilities (DTL), and Deferred Tax in the Income Statement appear on the Balance Sheets of the companies audited by the Big 5. Audit firms and supervisory authorities do not seem to have made satisfactory evaluation and exploitation of this information.

Related Content

Syed Moudud-Ul-Huq, Shumaila Meer Perhiar. © 2023. 14 pages.
Mohammad Mizenur Rahaman, Adiba Rahman Bushra Chowdhury, Shamima Akter, Md. Zillur Rahman. © 2023. 19 pages.
Rui Manuel Dias, Nuno Teixeira, Pedro Pardal, Teresa Godinho. © 2023. 17 pages.
Faisal Abbas. © 2023. 15 pages.
Ioannis G. Dokas. © 2022. 16 pages.
Evangelos Chytis, Vasilia Liota, Spiridon Goumas, Aristidis Papagregoriou. © 2022. 11 pages.
Konstantinos Papageorgiou, Angelos Stavros Stavropoulos, Konstantinos Derleres, Konstantinos Milioris, Aristidis Papagrigoriou. © 2022. 12 pages.
Body Bottom