The effect of different levels of internal control over financial reporting regulation on the quality of accounting information: evidence from Korea

Kwangwuk Oh, Wooseok Choi, Seok Woo Jeong and Jinhan Pae

Asia-Pacific Journal of Accounting & Economics, 2014, vol. 21, issue 4, 412-442

Abstract: This study investigates the effect of different levels of internal control over financial reporting (ICFR) regulations on accounting information quality. Stricter ICFR regulation restricts the opportunistic behavior of managers, leading to better accounting information quality. Strictly regulated firms tend to report lesser discretionary accruals. The results of this study indicate that the accounting information quality of less strictly regulated firms deteriorated, while there was no significant change in the accounting information quality of strictly regulated firms. This implies that the effect of ICFR regulation depends more on the enforcement rather than the adoption of the regulations.

Date: 2014
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DOI: 10.1080/16081625.2014.880203

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Asia-Pacific Journal of Accounting & Economics is currently edited by Yin-Wong Cheung, Hong Hwang, Jeong-Bon Kim, Shu-Hsing Li and Suresh Radhakrishnan

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