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The purpose of this study is to examine the association between audit committee expertise and asymmetric information in the US equity market.

The authors use measures of information asymmetry for 705 US firms (5,260 firm-year observations) over the period from 2007 to 2018, and use the theory of expertise (Ericsson and Smith, 1991) to examine the association between audit committee financial expertise and information asymmetry. The authors use multiple econometric approaches such as firm fixed-effect regression and two-stage ordinary least squares regression to control for possible endogeneity and reverse causality and find that the results remain the same.

The authors find that the existence of an audit committee with financial expertise is negatively and significantly associated with information asymmetry. The authors further provide empirical evidence through which audit committee financial expertise affects the firm’s informational environment. Additional analysis supports the argument that the audit committee’s financial expertise enhances the firm’s informational environment by increasing (decreasing) analyst following (dispersion).

One limitation to consider, like most studies on audit committees, is that the authors do not examine the actual role performed by the audit committee. The authors focus on the characteristics stipulated by the Sarbanes–Oxley Act 2002 and stock exchange rules regarding the financial expertise of audit committee members only.

This study is useful to policy makers, standard setters, investors, activists, managers, lenders and various stakeholders who rely on the financial statements of firms with an expert audit committee on board. The outcome of this study promotes recruiting audit committees with financial expertise due to the assumed benefits of this trait to the US firm.

The results of this study are not event-dependent and therefore have persistent effects, which is important to the evaluation of the usefulness of a regulation. This study promotes recruiting audit committees with financial expertise on boards because of the assumed benefits to the firm and investors.

This study is the first to document that financial expertise of audit committee characteristics is not only negatively related to the magnitude of information asymmetry but also driven by the financial expertise of audit committee members rather than chairs.

The purpose of this study is to develop a research agenda on internal controls for offshored accounting processes. It further develops a linkage between internal controls of offshored accounting processes and auditing of the organization. Offshoring of accounting processes has become a common business practice, pursued by firms to reduce costs and focus on core competencies. However, our understanding about internal controls of these offshored processes is limited.

Grounded in theory that is supported by prior literature and interviews with practitioners, this paper attempts to develop a research agenda on internal controls for offshored accounting processes.

The main findings of our study suggest that while offshoring saves costs and allows the clients to focus on their core competencies, it also poses risks to the clients’ organizations. To mitigate these risks and comply with the regulatory requirements of the countries where the clients are located, clients and their offshore vendors need to effectively establish adequate internal controls for offshored business processes. Clients should seek those vendors who have appropriate processes in place and are willing to provide Service Organization Control (SOC) reports (or at least are capable of getting a SOC report in the near future). Moreover, clients should avoid offshoring the processes that would exist in defective internal control systems. Similarly, vendors should avoid undertaking those processes for which they are incapable of maintaining efficient internal controls.

Our study has implications for academicians as well as practitioners on understanding the determinants and consequences of internal control for offshored processes.

While internal controls for offshored accounting process and related regulatory changes have been increasingly important topics, little research has been devoted to explore their implications on accounting and auditing literature. We attempt to bridge this gap by synthesizing prior research on internal controls and auditing, and further developing a set of research questions for academic research. Our hope is to spur a new area of research that has not been explored before.

Many of the heritage adaptive reuse projects in Islamic Cairo did not report success. Existing evaluations are usually drawn from a singular perspective – such as preservation and sustainability. The purpose of this paper is to generate a comprehensive assessment framework of adaptively reused heritage buildings that is specifically developed for the case of Islamic heritage of Cairo.

This paper depends on an extensive literature review about primary goals of adapting heritage for reuse. Related to each goal, multiple criteria of assessment are derived from literature, and then explained to mention worldwide benchmarks in that field.

A successful heritage adaptation project shall aim to achieve: building preservation, success of new function, and local community development. The framework is able to organize the adaptive reuse literature in general, and to specifically provide direct goals and guidelines in the case of Cairo.

In research and practice, priorities of heritage reuse vary from case-to case; however, this paper considers all assessment criteria to be of equal importance.

In order to apply and technically develop this assessment framework, future research can describe methodologies for assessment and to set optimum quantitative and/or qualitative indicators’ thresholds for each criterion.

This paper highlights that new uses of heritage buildings should be assessed for having a role in the upgrading the socio-economic milieu of the people living. The new functions shall act as a stimulant for economic upraising and social reinforcement for the local business and small traditional industries.

The framework can be used as a checklist in either the planning of adaptive reuse projects or the evaluation of already completed ones. The framework shall assist governmental institutions, developers, owners, community groups, practitioners, and others in bringing forward successful adaptation schemes in Cairo.

This study aims to examine the impacts of higher memory dependencies on a novel semiconductor material that exhibits generalized photo-piezo-thermo-elastic properties. Specifically, the research focuses on analyzing the behavior of the semiconductor under three distinct temperature models.

The study assumes a homogeneous and orthotropic piezo-semiconductor medium during photo-thermal excitation. The field equations have been devised to encompass higher order parameters, temporal delays and a specifically tailored kernel function to address the problem. The eigenmode technique is used to solve these equations and derive analytical expressions.

The research presents graphical representations of the physical field distribution across different temperatures, higher order plasma heat conduction models and time. The results reveal that the amplitude of the distribution profile is markedly affected by factors such as the memory effect, time, conductive temperature and spatial coordinates. These factors cannot be overlooked in the analysis and design of the semiconductor.

Specific cases are also discussed in detail, offering the potential to advance the creation of precise models and facilitate future simulations.

The research offers valuable information on the physical field distribution across various temperatures, allowing engineers and designers to optimize the design of semiconductor devices. Understanding the impact of memory effect, time, conductive temperature and spatial coordinates enables device performance and efficiency improvement.

This manuscript is the result of the joint efforts of the authors, who independently initiated and contributed equally to this study.