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Article
Publication date: 28 November 2023

Imen Khelil, Hichem Khlif and Imen Achek

The purpose of this study is to provide a timely synthesis of the empirical literature focusing on the economic consequences of money laundering, as this topic has been gaining…

Abstract

Purpose

The purpose of this study is to provide a timely synthesis of the empirical literature focusing on the economic consequences of money laundering, as this topic has been gaining momentum among policymakers and academic researchers due to its adverse effects.

Design/methodology/approach

Empirical studies are collected by consulting accounting and finance journals in diverse digital sources (e.g. Science Direct, Blackwell, Taylor and Francis, Springer, Sage and Emerald). Key words used to identify relevant papers include “money laundering” and “anti-money laundering regulations,” with specific focus on the economic consequences. Our search strategy includes 24 published papers over the period of 2018–2023.

Findings

Findings show that most studies represent cross-country investigations; the main topics investigated focus on accounting field (e.g. audit fees, real and accrual earnings management), tax evasion, financial stability, sustainability, economic indicators (inflation, economic growth, foreign direct investment) and financial inclusion; and the economic consequences of money laundering have been also examined within banking industry (e.g. banking profitability, banking stability). Reported findings of reviewed studies suggest that money laundering has diverse adverse impacts at the country level (e.g. increased tax evasion, higher inflation rate, less sustainability and foreign direct investments), at the firm level (e.g. increased audit risk and aggressive real and accrual earnings management) and within banking industry through negative impact of money laundering on bank’s loan portfolio quality, stability and profitability.

Practical implications

With respect to policymakers, strengthening anti-money laundering regulations may play a critical role in reducing money laundering activities. Furthermore, financial institutions should implement specific rules dealing with anti-money regulations to ensure adequate compliance and disclosure. Finally, policymakers should be aware about the importance of digital transformation to combat money laundering activities since it facilitates the detection of financial crimes due to their traceability.

Originality/value

The summary of the empirical literature focusing on the economic consequence of money laundering represents a historical record and an introduction for accounting researchers. It also urges them to further explore the economic implications of anti-money laundering disclosure within banking industry.

Details

Journal of Money Laundering Control, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1368-5201

Keywords

Article
Publication date: 12 September 2016

Hichem Khlif and Imen Achek

The purpose of this paper is to review the empirical research literature dealing with International Financial Reporting Standards (IFRS) and auditing. The authors identify four…

4624

Abstract

Purpose

The purpose of this paper is to review the empirical research literature dealing with International Financial Reporting Standards (IFRS) and auditing. The authors identify four main topics related to the effect of IFRS adoption on audit fees, audit market and audit report lag and the influence of auditor choice on IFRS compliance.

Design/methodology/approach

For each reviewed stream of research, the authors present its theoretical underpinning and summarize its main results.

Findings

Based on 26 empirical studies, the review reveals four main findings. First, IFRS adoption is associated with increased audit fees. Second, IFRS adoption has had an effect on audit market through auditor choice, audit switching and audit market concentration. Third, IFRS adoption has increased audit report lag. Finally, the authors document that audit quality, as proxied by auditor type, may play an important role in enforcing the compliance with IFRS.

Practical implications

For regulators the review highlights that IFRS adoption is associated with several effects dealing with audit cost (audit fees), audit efficiency (audit report lag) and may benefit audit firms with international affiliation compared to local ones and this may inform regulators in settings that plan to adopt IFRS in the future.

Originality/value

This literature review represents a historical record and an introduction for researchers who aim to investigate this topic in the future since the authors provide specific guidance for future research avenues for these reviewed strands of research and other unexplored topics related to auditing and IFRS.

Details

Asian Review of Accounting, vol. 24 no. 3
Type: Research Article
ISSN: 1321-7348

Keywords

Article
Publication date: 5 June 2017

Hichem Khlif and Imen Achek

This paper aims to review studies dealing with gender issues in accounting literature over the period of 1994-2016.

12726

Abstract

Purpose

This paper aims to review studies dealing with gender issues in accounting literature over the period of 1994-2016.

Design/methodology/approach

This study combines electronic and manual searches to identify relevant studies using keywords such as “gender” or “female” and “earnings quality” or “social and environmental disclosure” or “auditing” or “tax aggressiveness”. In total, 64 published studies were identified.

Findings

Three main streams of gender accounting literature related to financial reporting (earnings quality, accounting conservatism, voluntary disclosure), auditing (audit fees, audit opinion, audit report lag) and other miscellaneous topics were identified. Gender accounting literature uses empirical analysis, experimental approaches and interviews. Reviewed studies deal with top management gender (CEO, CFO), board of directors, audit committee and auditor gender. A synthesis of empirical findings shows that female representation on the board, audit committee, CFO or CEO leads to more conservative reporting, higher level of social and environmental disclosure, less tax aggressiveness and higher audit fees. Furthermore, auditor gender influences audit quality through lower abnormal accruals and shorter audit report lag, higher likelihood of issuing an adverse audit opinion and higher audit fees. Qualitative studies dealing with miscellaneous topics in gender accounting literature generally focus on the status of women in accounting and auditing professions, gender issues in accounting academic setting and disclosure about women in annual reports.

Practical implications

This review informs policymakers about the effect of female representation on accounting and auditing practices given the political debate largely shaped by anti-discriminatory arguments concerning the under-representation of women in management and audit professions.

Originality/value

This study goes beyond a classic narrative review by presenting criticisms to gender accounting literature and suggesting future research avenues.

Details

Managerial Auditing Journal, vol. 32 no. 6
Type: Research Article
ISSN: 0268-6902

Keywords

Article
Publication date: 5 October 2015

Hichem khlif, Khaled Hussainey and Imen Achek

This paper aims to investigate the moderating effect of cultural dimensions (masculinity, individualism and long-term orientation) on the association between profitability and…

1597

Abstract

Purpose

This paper aims to investigate the moderating effect of cultural dimensions (masculinity, individualism and long-term orientation) on the association between profitability and corporate social and environmental disclosure (CSED).

Design/methodology/approach

The authors apply the meta-analysis technique developed by Hunter et al. (1982) and Hunter and Schmidt (2000) for a sample of 48 published studies over the period of the past 20 years.

Findings

The authors find that masculinity, individualism and long-term orientation moderate the association between profitability and CSED. Given the weight of US studies on the overall sample, the authors conduct a sensitivity analysis to examine how this factor may affect the findings. After excluding these studies, only long-term orientation and individualism remain strong moderators of the association between profitability and CSED.

Originality/value

This study provides further evidence on the impact of institutional frameworks on CSED. It has, also, policy implications for managers of multinational corporations.

Details

Meditari Accountancy Research, vol. 23 no. 3
Type: Research Article
ISSN: 2049-372X

Keywords

Article
Publication date: 14 September 2015

Hichem khlif and Imen Achek

The purpose of this article is to make a clear-cut distinction between tax evasion and neighbouring notions, present the theoretical justifications for the determinants of tax…

6287

Abstract

Purpose

The purpose of this article is to make a clear-cut distinction between tax evasion and neighbouring notions, present the theoretical justifications for the determinants of tax evasion, discuss some methodological issues related to the measurement of tax evasion and, finally, review the main results related to this topic and provide suggestions for future research. Tax evasion empirical research has been the subject of numerous studies during the past decade in developed and emerging economies.

Design/methodology/approach

This paper focuses specifically on cross-country empirical studies.

Findings

This paper shows that evidence is still limited, several approaches to measure tax evasion remain unexplored, results are mixed and four categories of variables have been identified in tax evasion literature, including demographic, cultural and behavioural, legal and institutional, and economic variables.

Originality/value

This literature review represents a historical record and an introduction for researchers who aim to examine this topic in the future.

Details

International Journal of Law and Management, vol. 57 no. 5
Type: Research Article
ISSN: 1754-243X

Keywords

Article
Publication date: 12 July 2022

Fadoua Toumi, Hichem Khlif and Imen Khelil

This study aims to investigate the effect of national culture (power distance, individualism, masculinity, uncertainty avoidance and long-term orientation) on audit report lag.

Abstract

Purpose

This study aims to investigate the effect of national culture (power distance, individualism, masculinity, uncertainty avoidance and long-term orientation) on audit report lag.

Design/methodology/approach

The authors use two econometric approaches (ordinary least squares (OLS) and quantile regression) using STATA software for a sample of 1,208 firm-year observations over the period of 2017–2018.

Findings

Using Hofstede’s (2001) cultural dimensions (power distance, individualism, masculinity, uncertainty avoidance and long-term orientation), the authors find that masculinity and long-term orientation are positively associated with audit report lag, while uncertainty avoidance is negatively associated with the same variable. Quantile regressions suggest that the adverse effect of masculinity on audit report lag is more prevailing for companies communicating companies' annual reports in a timely manner. Furthermore, the positive association between power distance and audit report lag exists only under tardy disclosure regime. Quantile regressions also confirm that the negative (positive) effect of uncertainty avoidance (long-term orientation) on audit report lag is maintained under different timely disclosure regime. Additional analysis conducted with respect to legal system shows that individualism becomes a significant predictor of audit delays with a significant negative effect for common law countries, while uncertainty avoidance has a positive effect on the same variable in civil law countries characterized by high level of discretion and secrecy.

Practical implications

The results of this study suggest that national culture as an informal institution may complement formal institutions (e.g. financial markets) in promoting timely disclosure. For instance, foreign investors may view high uncertainty avoidance scores, in common law emerging economies, as an indicator of transparency and timely disclosure.

Originality/value

This study adds to the extant literature a further understanding of the impact of cultural dimensions on timely disclosure, as proxied by, audit report lag. The use of quantile regression approach shows how different timely disclosure regime may affect the association between masculinity, power distance and audit report lag.

Details

Journal of Economic and Administrative Sciences, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1026-4116

Keywords

Article
Publication date: 8 May 2017

Chan Pui Yee, Krishna Moorthy and William Choo Keng Soon

The success of self-assessment tax system is voluntary compliance with the tax laws. When tax evasion is seen as unacceptable, taxpayers will tend to evade tax less. Hence, the…

4066

Abstract

Purpose

The success of self-assessment tax system is voluntary compliance with the tax laws. When tax evasion is seen as unacceptable, taxpayers will tend to evade tax less. Hence, the understanding of taxpayers’ attitude on tax morality towards a tax system has to be enhanced to minimize tax evasion cases. The purposes of this study are to examine the relationship between tax fairness, tax knowledge, enforcement level and social exchange towards taxpayers’ attitude of tax morality under the self-assessment system in Malaysia and also to identify the relationship between taxpayers’ attitude of tax morality and taxpayers’ perceptions on tax evasion.

Design/methodology/approach

Data were collected from 400 taxpayers through a questionnaire and analysed.

Findings

From the analysis, it has been found out that tax knowledge is the most important tax system characteristic that affects taxpayers’ attitude of tax morality. In addition, taxpayers’ attitude of tax morality is significant to taxpayers’ perceptions on tax evasion in Malaysia.

Originality/value

The findings of this study would be useful for the government to further improve the present tax system to increase voluntary tax compliance.

Details

International Journal of Law and Management, vol. 59 no. 3
Type: Research Article
ISSN: 1754-243X

Keywords

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