Mix and match COVID-19 vaccines: potential benefit and perspective from India

SYNOPSIS In this study, we examine the impact of conditional conservatism on audit fees and, more importantly, the influence of corporate governance on this relationship. Prior literature presents evidence regarding explanations for the existence and pervasiveness of accounting conservatism such as compensation and debt contracting, shareholder litigation, taxation, and accounting regulation. However, there is very limited evidence or discussion of the potential benefit of accounting conservatism on audit risk and thus audit fees, and how the potential benefit can be attenuated by corporate governance quality. Using a sample of firm-year observations over the period of 2004–2009, we provide evidence consistent with conditional conservatism and firms' commitment to such conservatism reducing their audit fees. However, our evidence shows that this reduction in audit fees is moderated by higher corporate governance quality. These results have implications for auditors, regulators, standard setters, and firms' managers. In addition, our study extends the literature on the determinants of audit fees. JEL Classifications: M41; M42; D81; D22.

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The Effect of the Private Securities Litigation Reform Act of 1995 on Accounting Discretion of Client Managers of Big 6 and Non-Big 6 Auditors

Auditing A Journal of Practice & Theory ◽

10.2308/aud.2003.22.1.93 ◽

2003 ◽

Vol 22 (1) ◽

pp. 93-108 ◽

Cited By ~ 59

Author(s):

Ho Young Lee ◽

Vivek Mande

Keyword(s):

Earnings Management ◽

Potential Benefit ◽

Audit Quality ◽

Discretionary Accruals ◽

Securities Litigation ◽

Investor Confidence ◽

Joint And Several Liability ◽

Before And After ◽

Deep Pockets

This study examines how the Private Securities Litigation Reform Act of 1995 (PSLRA) affects auditors' incentives to curtail earnings management by client managers. The most significant reform of PSLRA was the elimination of joint and several liability under which auditors and other parties could be named to lawsuits because of ‘deep pockets’ rather than culpability. While the elimination of joint and several liability provides significant relief to auditors from litigation, opponents of PSLRA argue that it discourages meritorious lawsuits and lowers audit quality, reducing investor confidence in markets. The potential benefit would be greatest for Big 6 firms, who have the highest exposure (largest clients) and significant resources to pay damages. In this paper we argue that if PSLRA induces decreases in audit quality, then we should expect increases in the prevalence of accruals after this Act. To investigate this issue we examine the discretionary accruals of a sample of 2,600 companies three years before and after the act. Our results support this hypothesis. Specifically, we find that after PSLRA income-increasing discretionary accruals rise for auditees of Big 6 firms but not for auditees of non-Big 6 firms.

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Radiative sky cooling of solar cells: fundamental modelling and cooling potential of single-junction devices

Sustainable Energy & Fuels ◽

10.1039/d0se01536a ◽

2021 ◽

Vol 5 (7) ◽

pp. 2085-2096

Author(s):

Jérémy Dumoulin ◽

Emmanuel Drouard ◽

Mohamed Amara

Keyword(s):

Solar Cells ◽

Thermal Properties ◽

Potential Benefit ◽

Single Junction ◽

Modelling Framework

A fundamental modelling framework of solar cells is presented in order to quantify the potential benefit of enhanced radiative sky cooling for different single-junction technologies, according to their basic electrical and thermal properties.

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