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Financial reporting on the Internet and the external audit

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  • Roger Debreceny
  • Glen Gray

Abstract

Electronic dissemination of financial reports on the World Wide Web is becoming ubiquitous for larger corporations in developed market economies. This form of reporting presents many challenges for the financial statement audit. It is critical that the audit profession proactively addresses those challenges or they will be certainly addressed by government regulatory bodies and the courts of law. Most large listed public companies in France, Germany and the UK provide electronic versions of their printed annual reports on the web. A survey was made of fortyfive large listed UK, French and German corporations. A total of thirty-six of these corporations published their annual financial statements in HTML or Adobe Corporation's Acrobat. Ten of the seventeen corporations reporting in HTML included the auditors' report on their website. None of these reports linked back to the auditors' own site. A number of issues arise when corporations provide their financial statement audits on the web. These issues include the ease with which the auditor's report can be changed without any indication that a change was made; the meaning of the look and feel of the auditor's report in a rapidly changing web environment; and the implications of hyperlinks to and from web-based auditors' reports as well as the location and placement of the auditors' reports.

Suggested Citation

  • Roger Debreceny & Glen Gray, 1999. "Financial reporting on the Internet and the external audit," European Accounting Review, Taylor & Francis Journals, vol. 8(2), pages 335-350.
    • Handle: RePEc:taf:euract:v:8:y:1999:i:2:p:335-350
    DOI: 10.1080/096381899336078
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    Citations

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    Cited by:

    1. Andrew Lymer, 1999. "Internet and the future of reporting in Europe," European Accounting Review, Taylor & Francis Journals, vol. 8(2), pages 289-301.
    2. Williams, Susan P. & Scifleet, Paul A. & Hardy, Catherine A., 2006. "Online business reporting: An information management perspective," International Journal of Information Management, Elsevier, vol. 26(2), pages 91-101.
    3. Zezhong Xiao & Michael John Jones & Andy Lymer, 2002. "Immediate trends in Internet reporting," European Accounting Review, Taylor & Francis Journals, vol. 11(2), pages 245-275.
    4. Saiful Azam, 2014. "Perceived Environmental Factors And The Intention To Adopt A Standard Business Reporting Facility: A Survey Of Australian Corporate Cfos," Asian Academy of Management Journal of Accounting and Finance (AAMJAF), Penerbit Universiti Sains Malaysia, vol. 10(2), pages 147-173.
    5. Soriya Sushila & Dhaigude Amol, 2016. "A Study of Corporate Web-Based Reporting in Hotel Industry," Asian Economic and Financial Review, Asian Economic and Social Society, vol. 6(11), pages 661-680, November.
    6. Cohen, Eric E. & Debreceny, Roger & Farewell, Stephanie & Roohani, Saeed, 2014. "Issues with the communication and integrity of audit reports when financial reporting shifts to an information-centric paradigm," International Journal of Accounting Information Systems, Elsevier, vol. 15(4), pages 400-422.
    7. Catriona Paisey & Nicholas J. Paisey, 2006. "And they all lived happily ever after?: Exploring the possibilities of mobilising the internet to promote a more enabling accounting for occupational pension schemes," Accounting, Auditing & Accountability Journal, Emerald Group Publishing, vol. 19(5), pages 719-758, September.
    8. Paola Ramassa & Costanza Di Fabio, 2016. "Web-Based Financial Reporting: An Interpretative Model for Corporate Communications on Social Media," FINANCIAL REPORTING, FrancoAngeli Editore, vol. 2016(2), pages 79-112.
    9. Sonja Gallhofer & Jim Haslam & Elizabeth Monk & Clare Roberts, 2006. "The emancipatory potential of online reporting: The case of counter accounting," Accounting, Auditing & Accountability Journal, Emerald Group Publishing, vol. 19(5), pages 681-718, September.
    10. Dolinšek Tatjana, 2020. "Application of statistical methods in Internet financial information analysis," Croatian Review of Economic, Business and Social Statistics, Sciendo, vol. 6(1), pages 43-55, May.

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