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Article
Publication date: 12 July 2023

Mitali Panchal Arora, Sumit Lodhia and Gerard William Stone

With the accelerated global adoption of integrated reporting, this paper aims to understand the role of practicing accountants in integrated reporting.

Abstract

Purpose

With the accelerated global adoption of integrated reporting, this paper aims to understand the role of practicing accountants in integrated reporting.

Design/methodology/approach

Using the case study approach, data was collected from semi-structured interviews in six international organisations that have adopted integrated reporting. Institutional work provided the theoretical insights for this study.

Findings

The study found that accountants were an indispensable part of the integrated reporting process because of their strength and knowledge in corporate reporting. However, despite having the potential to engage, it was noted that accountants currently do not apply their key reporting skills in the integrated reporting context. It was observed that accountants’ roles were limited to carrying out their traditional routine financial reporting activities including reporting on the financial aspects of the report, developing key performance indicators and assisting with assurance related tasks.

Research limitations/implications

This study adds to the limited literature by providing a comprehensive understanding of how accountants are currently involved in integrated reporting. This study suggests that accountants are seeking to maintain their existing institutional practices.

Practical implications

A need for accountants to move beyond maintaining their institutional roles and engage more extensively in integrated reporting is emphasised.

Originality/value

Through its focus on human agency, this study applied institutional work to integrated reporting, thereby expanding literature on integrated reporting and the roles performed by accountants in this process. This study also contributes to the conceptualisation of maintaining institutions strategies through the development of the cooperative strategy.

Details

Qualitative Research in Accounting & Management, vol. 20 no. 5
Type: Research Article
ISSN: 1176-6093

Keywords

Article
Publication date: 1 November 1994

C. Richard Aldridge and Janet L. Colbert

Internal Control – Integrated Framework (COSO Report, 1992) definesinternal control, suggests a framework for internal control, andpresents criteria to use in evaluating controls…

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Abstract

Internal Control – Integrated Framework (COSO Report, 1992) defines internal control, suggests a framework for internal control, and presents criteria to use in evaluating controls. The document also provides guidance to management developing a report on controls for use by external parties. SSAE 2, “Reporting on an Entity′s Internal Control Structure over Financial Reporting” (1993) offers assistance to the practitioner reporting on management′s assertion regarding internal control over financial reporting. Discusses and provides an example of management′s report on internal control prepared according to COSO. Also discusses the accountant′s examination under SSAE guidance of management′s assertions and subsequent report and provides an example of the accountant′s report. Concludes by discussing the new business opportunities for the accountant which may result from external reporting on internal controls over financial reporting.

Details

Managerial Auditing Journal, vol. 9 no. 7
Type: Research Article
ISSN: 0268-6902

Keywords

Article
Publication date: 22 July 2021

Mitali Panchal Arora, Sumit Lodhia and Gerard Stone

With the increasing adoption of integrated reporting and the subsequent interest of the accounting discipline in its development, this paper aims to examine the enablers and…

Abstract

Purpose

With the increasing adoption of integrated reporting and the subsequent interest of the accounting discipline in its development, this paper aims to examine the enablers and barriers to the involvement of accountants in integrated reporting.

Design/methodology/approach

The paper adopts a case study approach by collecting interview data from six organisations that have adopted integrated reporting internationally. In the selected organisations, face-to-face and telephone interviews were conducted with professionals who are involved in the preparation of an integrated report. The interviewees in this study included key integrated report preparers including accountants, corporate reporting managers, sustainability managers and other report preparers. Institutional entrepreneurship provided the theoretical insights for this study.

Findings

The study found that accountants’ expertise in corporate reporting and especially their knowledge of the assurance process was one of the major reasons why they were involved in integrated reporting. Accountants’ in-depth understanding of an organisation in addition to their general analytical and interpersonal skills were also found to be useful in preparing an integrated report. However, the voluntary nature of integrated reporting along with the lack of sufficient guidelines deterred accountants from being involved in integrated reporting. The study also found that accountants themselves did not see value in integrated reporting and found it challenging to convert numerical information to narratives, thus limiting their involvement in integrated reporting.

Research limitations/implications

Whilst prior studies have underlined accountants’ institutionalised practices, this study uncovers the strategies applied by accountants to maintain their institutionalised practices. The specific application of the institutional entrepreneurship concept identifies mechanisms and strategies through which accountants restrict their practices to narrow taken-for-granted roles.

Practical implications

This study uncovers practical implications by highlighting the factors that limit the involvement of accountants within integrated reporting. One of the major implications identified relates to the training of accountants to apply their existing skills and expertise in non-financial reporting to contribute effectively to multi-disciplinary teams that contribute towards integrated reporting in organisations. This study also provides an impetus for the International Integrated Reporting Council to provide more guidance for preparing an integrated report.

Originality/value

This is one of the initial studies that has explored the enablers and barriers to the involvement of accountants in integrated reporting through its focus on organisations that are already practising this form of reporting. The use of institutional entrepreneurship theory adds to the theoretical insights for exploring the involvement of the various actors in integrated reporting.

Details

Meditari Accountancy Research, vol. 30 no. 3
Type: Research Article
ISSN: 2049-372X

Keywords

Article
Publication date: 17 September 2019

David Collins, Ian Dewing and Peter Russell

The purpose of this paper is to investigate the jurisdictional expansion of audit into the area of UK financial regulation. The paper draws on the analytical framework of new…

Abstract

Purpose

The purpose of this paper is to investigate the jurisdictional expansion of audit into the area of UK financial regulation. The paper draws on the analytical framework of new audit spaces (Andon et al., 2014, 2015), which built on the concept of regulatory space (Hancher and Moran, 1989), and characterises this new audit space as regulatory work.

Design/methodology/approach

Through an intensive reading of a variety of publicly available documentary sources, the paper investigates the role of auditors and accountants in the reporting accountants’ and skilled persons’ regimes in the UK under the Banking Act 1987 and the Financial Services and Markets Act 2000.

Findings

The paper identifies a new audit space characterised as regulatory work, which is made up of three distinct phases (and suggests the recent emergence of a fourth phase), and considers the extent to which these phases of regulatory work share common themes across new audit spaces identified by Andon et al. (2015) as independence, reporting, accreditation and mediating.

Originality/value

The paper identifies a further jurisdictional expansion of audit into a new audit space, characterised as regulatory work.

Details

Accounting, Auditing & Accountability Journal, vol. 32 no. 7
Type: Research Article
ISSN: 0951-3574

Keywords

Article
Publication date: 15 May 2017

Khaldoon Al-Htaybat and Larissa von Alberti-Alhtaybat

The purpose of this paper is to investigate the phenomenon of Big Data and corporate reporting, and to determine the impact of Big Data and the current Big Data state of mind with…

10504

Abstract

Purpose

The purpose of this paper is to investigate the phenomenon of Big Data and corporate reporting, and to determine the impact of Big Data and the current Big Data state of mind with regard to corporate reporting, what accountant and non-accountant participants’ perceptions are of the phenomenon, what the accountants’ role is and will be in this regard, and what opportunities and risks are associated with Big Data and corporate reporting. Furthermore, this study seeks to identify the inherent technological paradoxes of Big Data and corporate reporting.

Design/methodology/approach

The current study is qualitative in nature and assumes an interpretive stance, investigating participants’ perceptions of the phenomenon of Big Data and corporate reporting. To this end, interview data from 25 participants, video and text material, were analysed to enhance and triangulate findings. A four-fold sampling strategy was employed to ensure that any collected data would contribute to the findings. Data were analysed on the basis of open and selective coding stages. Data collection and analysis took place in two stages, in 2014 and in 2016.

Findings

Three topics, or categories, emerged from the data analysis, which have sufficient explanatory power to illustrate the phenomenon of Big Data and corporate reporting, namely the Big Data state of mind and corporate reporting, accountants’ role and future related to Big Data, and perceived opportunities and risks of Big Data. Features of a new approach to corporate reporting were identified and discussed. Furthermore, four paradoxes emerged to express inherent opposing positions of Big Data and corporate reporting, namely empowerment vs enslavement, fulfilling vs creating needs, reliability vs timeliness and simplicity vs complexity.

Originality/value

The original contribution of the study lies in the empirical investigation of the phenomenon of Big Data and corporate reporting as one of the most recent and praised developments in the accounting context. The dual communication flows of corporate reporting with Big Data is an important element of the findings, which can enhance the prospective financial statements significantly. Finally, technological paradoxes of Big Data and corporate reporting are discussed for the first time, two of which are based on the literature and the remaining two are inherent in the phenomenon of Big Data and corporate reporting.

Details

Accounting, Auditing & Accountability Journal, vol. 30 no. 4
Type: Research Article
ISSN: 0951-3574

Keywords

Article
Publication date: 5 May 2015

Belinda Williams

This paper aims to focus on the local government accountants’ perspective towards their current and potential role in the sustainability reporting process and to explore potential…

3218

Abstract

Purpose

This paper aims to focus on the local government accountants’ perspective towards their current and potential role in the sustainability reporting process and to explore potential factors influencing the further development of their role.

Design/methodology/approach

A mail survey approach was adopted across local government organisations with a deeper analysis provided through semi-structured interviews.

Findings

Findings indicate that accountants are supportive of involvement in sustainability reporting, but their actual level differs significantly from the level of involvement they believe they should have, pointing to the existence of an execution gap. Potential factors are investigated, highlighting the limited integration of sustainability beyond the organisational level, the lack of understanding of sustainability by accountants and the current need for further up-skilling by accountants.

Research limitations/implications

The study enhances understanding of the accountant’s perception towards sustainability reporting practices within the public sector, with particular focus on local government.

Originality/value

This is an exploratory study examining an area of accounting in local government in which there are few others. It seeks to contribute to the literature by exploring and examining the accountant’s perception towards sustainable development and their current and future prospects in the reporting process in the local government sector in Australia.

Details

Sustainability Accounting, Management and Policy Journal, vol. 6 no. 2
Type: Research Article
ISSN: 2040-8021

Keywords

Article
Publication date: 16 October 2017

Peipei Pan and Chris Patel

The purpose of this paper is to respond to calls in the literature to examine personality variables which may provide sharper insights into accountants’ judgments in applying…

Abstract

Purpose

The purpose of this paper is to respond to calls in the literature to examine personality variables which may provide sharper insights into accountants’ judgments in applying principles-based International Financial Reporting Standards (IFRS). This paper contributes to the literature on the global convergence of financial reporting by examining the influence of an important personality variable, construal of self, on Chinese accountants’ aggressive financial reporting judgments.

Design/methodology/approach

A between-subjects quasi-experiment was applied. In total, 122 Chinese professional accountants were categorized as either independents or interdependents, on the basis of their scores on construal of self scales. Subjects made their consolidation reporting judgments in the manipulated situations based on the financial performance of the investee entity, which refers to the situation where the investee entity makes a significant profit or a significant loss in the reporting period.

Findings

Compared to interdependent accountants, independent accountants used the flexibility allowed in the principles-based standards to make more aggressive consolidation reporting judgments. Also, adoption of IFRS may not necessarily ensure consistent judgments even within China.

Originality/value

This paper provides empirical evidence of the importance of construal of self in examining accountants’ aggressive judgments. The authors suggest that it may be premature to assume that adoption of IFRS will lead to comparable financial reporting. The findings are relevant to researchers who are interested in examining personality and cultural influences on accountants’ judgments both within and across countries. Companies and organizations may incorporate appropriate strategies to recruit and train independent and interdependent accountants, particularly by addressing the influence of construal of self on aggressive financial reporting judgments.

Details

Accounting, Auditing & Accountability Journal, vol. 30 no. 8
Type: Research Article
ISSN: 0951-3574

Keywords

Article
Publication date: 10 February 2020

Joanna Krasodomska, Jan Michalak and Katarzyna Świetla

This paper aims to explore accountants’ views on mandatory corporate social responsibility (CSR) reporting. It focuses on three main factors underpinning their understanding and…

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Abstract

Purpose

This paper aims to explore accountants’ views on mandatory corporate social responsibility (CSR) reporting. It focuses on three main factors underpinning their understanding and attitude towards non-financial disclosures: general understanding of the concept, gender and work experience.

Design/methodology/approach

The study uses social identity theory as the theoretical framework. The findings are based on a survey conducted among 73 accountants in 2018. The questionnaire consisted of 86 questions divided into 9 main areas. The Mann–Whitney U test was used to determine if there are any significant differences between the accountants’ attitudes towards non-financial disclosures.

Findings

Study results suggest that the general knowledge of CSR reporting among accounting specialists is insufficient. The attitude towards mandatory CSR disclosures significantly differs between accountants who participated in training related to non-financial reporting and those who did not. Contrary to expectations, there were no significant differences in responses either between female and male accountants or between accountants at the beginning of their career path (with experience shorter than five years) and the more experienced ones. The paper contributes to social theory studies as it refers to the problem of the influence of professional associations, governments and big accounting firms on the transformation of accountants’ social identity. It also discusses the relations between the characteristics influencing personal identity and social identity of accountants in shaping their attitude towards mandatory non-financial disclosures.

Practical implications

The findings could be of interest to the higher education and professional certification institutions which should consider bringing accounting curricula more closely to the realities of the current business environment.

Originality/value

The study contributes to the body of literature mainly because it investigates a diversified sample of accountants in a relatively unexplored institutional setting. It may also serve as a starting point for research that more broadly explores accountants’ engagement in non-financial disclosures on CSR.

Details

Meditari Accountancy Research, vol. 28 no. 5
Type: Research Article
ISSN: 2049-372X

Keywords

Article
Publication date: 4 August 2021

Laura Orobia, Racheal Nturaninshaba, Juma Bananuka and Kasmwakat Reuel Dakung

This study aims to investigate the association between accountant’s competences, organisational culture and integrated reporting practices.

Abstract

Purpose

This study aims to investigate the association between accountant’s competences, organisational culture and integrated reporting practices.

Design/methodology/approach

A questionnaire survey of 43 manufacturing firms in Mbarara district (South Western Uganda) was undertaken. The unit of inquiry was senior staff in the accounts office while the unit of analysis was the manufacturing firm. The study hypotheses were tested using regression analysis with the aid of Statistical Package for Social Sciences software version 21.

Findings

The findings revealed that while there is a positive and significant association between accountant’s competences and integrated reporting practices, the association between organisational culture and integrated reporting practices is insignificant. In the additional analysis, this study finds that accountant’s competences are significantly associated with all the content elements of an integrated report as enshrined in the International Integrated Reporting Framework of 2013. Surprisingly, organisational culture is not significantly associated with any of the content elements of an integrated report as enshrined in the International Integrated Reporting Framework of 2013.

Practical implications

To the academia, this study expands on the understanding of what matters for improvement in integrated reporting practices in an emerging economy such as Uganda whose history is characterised by civil wars and political unrest. Those in practice may use this study results to promote better reporting practices through the attraction of professional accountants with the necessary proficiencies in corporate reporting practices. The policymakers may also opt to mandate integrated reporting among manufacturing firms.

Originality/value

This study provides a first-time and in-depth understanding of the association between the accountant’s competences, organisational culture and integrated reporting practices using evidence from a developing African Country – Uganda.

Details

Journal of Financial Reporting and Accounting, vol. 21 no. 2
Type: Research Article
ISSN: 1985-2517

Keywords

Article
Publication date: 22 February 2021

Belinda Williams, Sumit Lodhia, Mitali Panchal Arora and Lisa McManus

With an increased focus on the need for higher levels of accountability and transparency in the public sector, this study aims to provide insights into non-financial reporting

Abstract

Purpose

With an increased focus on the need for higher levels of accountability and transparency in the public sector, this study aims to provide insights into non-financial reporting (NFR) practices as a mechanism in facilitating accountability. This study also aims to investigate the changing role of the public sector accountant in this process, specifically focusing on the Australian local government sector.

Design/methodology/approach

The authors used a mail survey across two time periods, 2009 and 2017, to analyse the role of accountants in NFR practices. Institutional theory provides a theoretical framing for the study.

Findings

The findings reveal an increase in the use of accountants across time in the preparation of voluntary information, being used in a variety of roles because of their financial abilities and analytical skills. The results also indicate a shift has occurred with more emphasis being placed on cross-departmental approaches to NFP incorporating the accountant. These results suggest a greater recognition of the role of accountants in NFR and a dilution of accountant’s boundaries in relation to their existing traditional focus.

Research limitations/implications

This study contributes to the academic NFR literature by providing evidence of an institutional shift that is occurring with the accountant’s role widening to a broader context beyond their traditional roles.

Practical implications

This longitudinal study provides practical evidence to management of the potential offered by accountants as the public sector seeks to achieve higher levels of accountability and transparency. Policy implications also arise in relation to the need for development of quality assurance guidelines and further education and training as the public sector embarks on the journey of NFR.

Originality/value

To the best of the authors’ knowledge, this study is the first that has explored the evolution of NFR over a period of time through its focus on the role of accountants.

Details

Managerial Auditing Journal, vol. 36 no. 2
Type: Research Article
ISSN: 0268-6902

Keywords

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