Financial reporting on the Internet by 2010: a consensus view

Michael John Jones and Jason Zezhong Xiao

Accounting Forum, 2004, vol. 28, issue 3, 237-263

Abstract: This paper reports the final results of a Delphi study into corporate financial reporting by 2010. Twenty UK experts in accounting and the Internet representing academics, auditors, regulators, reporting companies and users participated in the study. A three-dimensional conceptual framework was adopted consisting of the role of the Internet (i.e. problem solver or problem creator), the determinant of change (technological determinism, non-technological determinism or contingency perspective), and the pace of change (conservatism, gradualism or radicalism). The consensus view was that the financial reporting package would evolve into a core of general purpose, standardised information (in both the hard copy and Internet version) together with a non-core of general purpose and customised information. Radical changes suggested by prior studies such as real-time reporting and disclosure of raw data will not occur, at least to the core package. Auditors will be reactive and cautious, and regulators will adopt a minimalist approach. The fundamental dilemma of financial reporting in the Internet environment will be between standardisation and customisation.

Date: 2004
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Persistent link: https://EconPapers.repec.org/RePEc:taf:accfor:v:28:y:2004:i:3:p:237-263

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DOI: 10.1016/j.accfor.2004.07.002

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