文档介绍：外文文献翻译
原文:
INTERNAL CONTROL REPORTS AND FINANCIAL REPORTING
Authors: McMullen ,Dorothy,
SYNOPSIS:The issue of internal control reporting has recently been of considerable interest to the accounting profession, and has generated significant controversy. The mission, the Public Oversight Board and the Board of Directors of the AICPA, among others, have suggested that such reporting can serve to enhance internal controls. Others have questioned the usefulness of such reports.
This paper provides empirical evidence relevant to the debate about internal control reporting by examining the proportions panies with two types of financial reporting problems which had prior internal control reports, pares such proportions to the population proportions. Specifically, we panies which either were subject to an SEC enforcement action or corrected previously reported earnings. Results indicate that panies with a financial reporting problem were much less likely to have had a management report on internal control than the population of panies in the NAARS database.
Key Words:Internal control, Financial reporting problems, Management reporting.
Data Availability:Contact the corresponding author.
The objective of this paper is to examine the association between financial reporting problems and management reports on internal controls (MRIC) in audited financial statements. Motivation for this es from the considerable controversy surrounding the issue of internal control reporting, as evidenced by recent actions ments of various private missions, regulators and legislators. The method used in this paper is pare a sample panies with financial reporting problems with a sample panies without such problems and examine whether the panies were less likely to have had an MRIC in prior financial statements.
Internal control is a broad concept, and we can distinguish between internal controls as they relate to financial reporting and other controls. As noted by the mission