Is Hong Kong ready for accounting education reform: an analysis of tri-partite views

2014 ◽  
Vol 27 (3) ◽  
pp. 249-265 ◽  
Author(s):  
Theodore T.Y. Chen
Keyword(s):  
Hong Kong ◽  
Education Reform ◽  
Financial Reporting ◽  
Accounting Education ◽  
Accounting Firms ◽  
Content Type ◽  
The Usa ◽  
Accounting Practitioners ◽  
The Uk ◽  
Big Four

Purpose – The purpose of this study is to determine whether Hong Kong is ready for accounting education reform. Design/methodology/approach – The approach for this study is using a Likert-scale questionnaire for the academic institutions, the Hong Kong Institute of Certified Public Accountants and the big four accounting firms, followed by detailed follow-up interviews with each. Findings – There is general agreement among accounting academics and the profession that the Accounting Education Change Commission initiatives should be adopted in Hong Kong. Hong Kong accounting academics in public institutions do not oppose to a balance between teaching and research, but would oppose to an emphasis of teaching over research. This is important as an overemphasis on research could mean less time for teaching and curriculum development. The big four accounting firms are either happy with the way Hong Kong universities have been educating the accounting graduates or have no complaints against them. This is also important as an urge for accounting education reform usually comes from the practitioners as in the USA. Originality/value – The USA was the first country that saw the need for accounting education reform as accounting practitioners felt that curriculum and pedagogical considerations placed heavy emphasis on the technical aspects of accounting at the expense of a general, broad-based education. Similar needs for change were also found in the UK and Australia. As Hong Kong is one of the world’s major financial centres with a large securities exchange, there is a great deal of emphasis on accounting standards, financial reporting, corporate governance, etc., and hence the importance of accounting education. Is Hong Kong ready for the change?

scholarly journals Does Islamic equity investment provide diversification benefits to conventional investors? Evidence from the multivariate GARCH analysis

2018 ◽  
Vol 13 (1) ◽  
pp. 267-289 ◽  
Author(s):  
Buerhan Saiti ◽  
Nazrul Hazizi Noordin
Keyword(s):  
Hong Kong ◽  
Southeast Asian ◽  
Multivariate Garch ◽  
Portfolio Diversification ◽  
Stock Index ◽  
Content Type ◽  
Asian Region ◽  
The Usa ◽  
The Uk ◽  
Stock Index Returns

Purpose The purpose of this paper is to quantify the extent to which the Malaysia-based equity investors can benefit from diversifying their portfolio into the conventional and Islamic Southeast Asian region and the world’s top ten largest equity indices (China, Japan, Hong Kong, India, the UK, the USA, Canada, France, Germany and Switzerland). Design/methodology/approach The multivariate GARCH-dynamic conditional correlation is deployed to estimate the time-varying linkages of the selected conventional and Islamic Asian and international stock index returns with the Malaysian stock index returns, covering approximately eight years daily starting from 29 June 2007 to 30 June 2016. Findings In general, in terms of volatility, the results indicate that both Asian and international Islamic stock indices are more or less volatile than its conventional counterparts. From the correlation analysis, we can see that both the conventional and Islamic MSCI indices of Japan provide more diversification benefits compared to Southeast Asian region, China, Hong Kong and India. Meanwhile, in terms of international portfolio diversification, the results tend to suggest that both the conventional and Islamic MSCI indices of the USA provide more diversification benefits compared to the UK, Canada, France, Germany and Switzerland. Originality/value The findings of this paper may have several significant implications for the Malaysia-based equity investors and fund managers who seek for the understanding of return correlations between the Malaysian stock index and the world’s largest stock market indices in order to gain higher risk-adjusted returns through portfolio diversification. With regard to policy implications, the findings on market shocks and the extent of the interdependence of the Malaysian market with cross-border markets may provide some useful insights in formulating effective macroeconomic stabilization policies in the efforts of preventing contagion effect from deteriorating the domestic economy.

XBRL and the qualitative characteristics of useful financial information

2017 ◽  
Vol 30 (01) ◽  
pp. 107-126 ◽  
Author(s):  
Jacqueline L. Birt ◽  
Kala Muthusamy ◽  
Poonam Bir
Keyword(s):  
Financial Reporting ◽  
Experimental Approach ◽  
Financial Information ◽  
Financial Reports ◽  
Standard Format ◽  
Distant Future ◽  
Content Type ◽  
The Usa ◽  
The Uk ◽  
Qualitative Characteristics

Purpose eXtensible Business Reporting Language (XBRL) is an internet-based interactive form of reporting language that is expected to enhance the usefulness of financial reporting (Yuan and Wang, 2009). In the UK and the USA, XBRL is mandatory, and in Australia, it is voluntarily adopted. It has been reported that in the not too distant future, XBRL will be the standard format for the preparation and exchange of business reports (Gettler, 2015). Using an experimental approach, this study assesses the usefulness of financial reports with XBRL tagged information compared to PDF format information for non-professional investors. The authors investigate participants’ perceptions of usefulness in relation to the qualitative characteristics of relevance, understandability and comparability. Design/methodology/approach This paper uses an experimental approach featuring a profit-forecasting task to determine if participants perceive XBRL-tagged information to be more useful compared to PDF-formatted information. Findings Results reveal that financial information presented with XBRL tagging is significantly more relevant, understandable and comparable to non-professional investors. Originality/value The authors address a gap in the literature by examining XBRL usefulness in Australia where XBRL adoption will be mandated within the not too distant future. Currently, the voluntary adoption of XBRL by preparers and users is low, possibly, because of a lack of awareness about XBRL and its potential benefits. This study yields significant implications for the accounting regulators in creating more awareness on the benefits of using XBRL and to create an impetus for XBRL adoption.

Local accounting firms’ pricing responses to entry of the Big Four accounting firms into China

2016 ◽  
Vol 6 (1) ◽  
pp. 50-68 ◽  
Author(s):  
Vikram Desai ◽  
Bixia Xu ◽  
Tao Zeng
Keyword(s):  
Market Entry ◽  
Audit Fees ◽  
Annual Reports ◽  
Pricing Strategies ◽  
Accounting Firms ◽  
Content Type ◽  
Audit Market ◽  
The Usa ◽  
Audit Reports ◽  
Big Four

Purpose – The historical development and size of China’s audit market provides an opportunity to investigate important questions regarding the functioning of the market for audit services that are difficult, if not impossible, to test in other globally established markets. The purpose of this paper is to examine the effect of the market entry of the Big Four accounting firms into China on the audit fees charged by its local accounting firms. Design/methodology/approach – In this paper the authors rely primarily on the incumbent pricing literature (Simon, 2005; Geroski, 1995) to assist them in developing the specific hypotheses and empirical tests. This paper is an empirical study, which examines whether local incumbent accounting firms cut prices in response to the Big Four’s entry by using data from annual reports and audit reports for China’s listed companies from the 1994 to 2008 period. Findings – This study shows that local incumbent firms cut prices post-entry. This study also finds that it was local large-sized accounting firms as well as accounting firms located in regions with highly developed- and competitive markets that cut prices in response to the Big Four’s entry. Practical implications – This study has important implications for the Big Four accounting firms as it provides useful information about pricing strategies that would likely be used by local accounting firms in a new market. Local accounting firms in emerging markets can also gain useful insights about the pricing strategies adopted by the Big Four accounting firms when they enter a market. Originality/value – Audit market research has little to offer on how local accounting firms respond in their pricing to the entry of Big Four accounting firms into their market, mainly because in western countries such as Canada, England, and the USA, the Big Four accounting firms are the oldest firms operating in those markets. This paper is the first study that examines the effect of the market entry of the Big Four accounting firms into China.

Corporate governance failures and the road to crime

2015 ◽  
Vol 23 (1) ◽  
pp. 216-230 ◽  
Author(s):  
Peter Yeoh
Keyword(s):  
Corporate Governance ◽  
Financial Reporting ◽  
Secondary Data ◽  
Savings And Loans ◽  
Content Type ◽  
Study Approach ◽  
Financial Crimes ◽  
Governance Practices ◽  
The Usa ◽  
The Uk

Purpose – The purpose of this paper is to provide enhanced insights on corporate governance failures which contributed to various financial crimes in major banking institutions and whether those involved have been held sufficiently accountable in the USA and the UK. Design/methodology/approach – This interdisciplinary doctrinal research relies on primary and secondary data and is complemented by the case study approach. Findings – Case insights demonstrate that a few major banks and isolated numbers of bankers at the lower echelons were held accountable in the USA but to a lesser degree in the UK. This contrasts sharply with the earlier Enron-type corporate financial reporting scandals or the much earlier Savings and Loans Crisis; but recent criminal charge practices against mega banks suggest a policy shift. Research limitations/implications – The paper findings suggest the need for further research in this under-researched area, while the banking communities in the USA and the UK may be prompted to review their corporate governance practices. Originality/value – This interdisciplinary research uses corporate law and criminological research to provide enhanced insights on financial crimes perpetuated in major banks in the USA and the UK.

The external affairs of the Hong Kong SAR: UK-Hong Kong economic relations

2019 ◽  
Vol 8 (2) ◽  
pp. 126-136
Author(s):  
Tim Summers
Keyword(s):  
Hong Kong ◽  
Content Type ◽  
Economic Relations ◽  
External Relations ◽  
Hong Kong Sar ◽  
The Usa ◽  
Economic Relationship ◽  
Media Reports ◽  
The Uk ◽  
High Degree

Purpose The purpose of this paper is to examine economic relations between Hong Kong and the UK, especially since 2012, in order to shed light on the management of Hong Kong’s external relations. Design/methodology/approach The context for the research is discussion of “grey areas” between Hong Kong’s external relations and foreign affairs. Research is based on textual analysis of British and some Hong Kong policy documents, government statements and media reports, as well as personal discussions with many involved in UK-Hong Kong ties. Findings The paper finds that the UK-Hong Kong economic relationship is managed autonomously, demonstrating Hong Kong’s external economic affairs and bilateral exchanges being practised with a high degree of autonomy. It also shows the importance that the British government attaches to its economic relationship with Hong Kong in its own right, and the likely increase in that importance as Brexit unfolds. Originality/value The paper engages in detailed analysis of economic relations between the UK and Hong Kong, in contrast to most post-1997 studies which have focused on Hong Kong’s ties with the USA or European Union.

scholarly journals Accounting reform in Ukraine

2005 ◽  
Vol 3 (1) ◽  
pp. 30-45 ◽  
Author(s):  
Robert W. McGee ◽  
Galina G. Preobragenskaya
Keyword(s):  
Financial Reporting ◽  
Accounting Education ◽  
International Financial Reporting Standards ◽  
Educational Institutions ◽  
The Internet ◽  
Reporting Standards ◽  
Accounting Firms ◽  
Financial Reporting Standards ◽  
Adoption And Implementation ◽  
Accounting Practitioners

This paper summarizes the results of interviews conducted at accounting firms and educational institutions in Kiev and Odessa during the summer of 2004, supplemented by later correspondence via the internet. Topics discussed include the adoption and implementation of International Financial Reporting Standards (IFRS), education for accounting practitioners, recent changes in accounting education in Ukrainian universities, accounting certification and taxation.

scholarly journals Implications of divergences in adult protection legislation

2016 ◽  
Vol 18 (3) ◽  
pp. 149-160 ◽  
Author(s):  
Lorna Montgomery ◽  
Janet Anand ◽  
Kathryn Mackay ◽  
Brian Taylor ◽  
Katherine C. Pearson ◽  
...  
Keyword(s):  
Design Methodology ◽  
Elder Abuse ◽  
Consensus Model ◽  
Content Type ◽  
Legal Responses ◽  
The Usa ◽  
Protection Legislation ◽  
The Uk ◽  
Practical Implications ◽  
Adult Protection

Purpose – The purpose of this paper is to explore the similarities and differences of legal responses to older adults who may be at risk of harm or abuse in the UK, Ireland, Australia and the USA. Design/methodology/approach – The authors draw upon a review of elder abuse and adult protection undertaken on behalf of the commissioner for older people in Northern Ireland. This paper focusses on the desk top mapping of the different legal approaches and draws upon wider literature to frame the discussion of the relative strengths and weaknesses of the different legal responses. Findings – Arguments exist both for and against each legal approach. Differences in defining the scope and powers of adult protection legislation in the UK and internationally are highlighted. Research limitations/implications – This review was undertaken in late 2013; while the authors have updated the mapping to take account of subsequent changes, some statutory guidance is not yet available. While the expertise of a group of experienced professionals in the field of adult safeguarding was utilized, it was not feasible to employ a formal survey or consensus model. Practical implications – Some countries have already introduced APL and others are considering doing so. The potential advantages and challenges of introducing APL are highlighted. Social implications – The introduction of legislation may give professionals increased powers to prevent and reduce abuse of adults, but this would also change the dynamic of relationships within families and between families and professionals. Originality/value – This paper provides an accessible discussion of APL across the UK and internationally which to date has been lacking from the literature.

Automatic enrolment to pension plans in small organisations: a research agenda

2019 ◽  
Vol 41 (1) ◽  
pp. 142-157 ◽  
Author(s):  
Maureen Maloney ◽  
Alma McCarthy
Keyword(s):  
Firm Size ◽  
Pension Plans ◽  
Occupational Pension ◽  
Pension Policy ◽  
Policy Makers ◽  
Research Attention ◽  
Content Type ◽  
The Usa ◽  
The Uk ◽  
Small Employers

PurposeThe purpose of this paper is to analyse how firm size impacts pension workforce coverage with a particular focus on automatic enrolment (AE) to pension plans in small organisations.Design/methodology/approachThe paper examines the alignment of government AE interests with those of small employers, their employees and pension providers to better understand how firm size impacts pension workforce coverage.FindingsThe alignment of interests between stakeholders (government, pension providers, employers and employees) differs between large and small organisations, and empirical findings from large organisations cannot be assumed to apply in small organisations.Research limitations/implicationsThe paper calls attention to the need for future empirical research and identifies a number of research questions for further analysis to examine how AE impacts pension participation in small organisations and advance the field.Originality/valueThe policy of automatically enroling employees into occupational pension plans, recently legislated for all eligible workers in the UK and under consideration in the USA and Ireland, was developed from research conducted in a small number of large organisations. Pension coverage is particularly inadequate for the large number of employees working in small organisations (1–49 employees). However, little research attention has been focussed on pensions in small organisations with pension policy makers assuming that legislated AE will work as effectively in small organisations as it did in large organisations. This paper addresses this gap in the field.

scholarly journals Digital curation: the development of a discipline within information science

2018 ◽  
Vol 74 (6) ◽  
pp. 1318-1338 ◽  
Author(s):  
Sarah Higgins
Keyword(s):  
Information Science ◽  
Theoretical Models ◽  
Digital Information ◽  
Content Type ◽  
Digital Curation ◽  
The Usa ◽  
The Uk ◽  
Financial Ecology

Purpose Digital curation addresses the technical, administrative and financial ecology required to ensure that digital information remains accessible and usable over the long term. The purpose of this paper is to trace digital curation’s disciplinary emergence and examine its position within the information sciences domain in terms of theoretical principles, using a case study of developments in the UK and the USA. Design/methodology/approach Theoretical principles regarding disciplinary development and the identity of information science as a discipline are applied to a case study of the development of digital curation in the UK and the USA to identify the maturity of digital curation and its position in the information science gamut. Findings Digital curation is identified as a mature discipline which is a sub-meta-discipline of information science. As such digital curation has reach across all disciplines and sub-disciplines of information science and has the potential to become the overarching paradigm. Practical implications These findings could influence digital curation’s development from applied discipline to profession within both its educational and professional domains. Originality/value The disciplinary development of digital curation within dominant theoretical models has not hitherto been articulated.

They teach, but do they apply?

2019 ◽  
Vol 10 (3) ◽  
pp. 743-766
Author(s):  
Anete Petrusch ◽  
Guilherme Luís Roehe Vaccaro ◽  
Juliane Luchese
Keyword(s):  
Design Methodology ◽  
Additional Data ◽  
Effective Sample Size ◽  
Exploratory Research ◽  
Lean Thinking ◽  
Content Type ◽  
Administrative Services ◽  
The Usa ◽  
And Performance ◽  
The Uk

Purpose Although discussed for more than 20 years, information about Lean adoption in higher education institutions (HEIs) is scarce, especially in developing countries. This research aims to investigate the degree of Lean thinking adoption on administrative services of Brazilian private HEIs. The results are compared to studies from USA and UK, highlighting the maturity on enablers, principles, tools and performance measures related to Lean. Design/methodology/approach A quantitative survey research was carried out. The instrument is adapted for HEIs from the proposal of Malmbrandt and Åhlström (2013) for Lean services. Cronbach’s alpha and factor analysis were used to validate the adapted instrument. Additional data analysis was based on non-parametric tests. Findings No evidence of broad implementation of Lean thinking in administrative processes of Brazilian private HEIs was found, with the adoption being incipient. The results are convergent to those presented by other studies in the USA and the UK. There is a gap between the existing knowledge about Lean in the academic sphere of the HEIs and its application on their academic processes. Research limitations/implications The effective sample size was of 47, despite contacts being sent to 2,090 institutions. This sample allows exploratory research, although further research is required. Results are adherent to those found in research from other countries. Originality/value The research presents descriptive and exploratory results regarding the adoption of Lean in Brazilian HEIs. No previous similar research was found in the literature.

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