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The Timeliness of Financial Reporting: A Comparative Study of Russian and Non-Russian Companies

  • Robert W. McGee
  • Michael Tyler

It is important to report financial information in a timely fashion. The longer a company waits to release its annual report and accompanying financial statements, the more stale the information is and the less useful it is.

A number of studies have been done on various aspects of timeliness in financial reporting. Those studies are not summarized here but a listing is provided in the reference section for further research.

Various organizations have cited the importance of timely financial reporting. The Accounting Principles Board (1970) addressed the issue in one of its statements. The Organisation for Economic Co-operation and Development (OECD 2004) lists it as an important principle of corporate governance. The World Bank has conducted more than 40 studies on corporate governance in various countries that have included a look at their financial reporting practices, including timeliness. Seventeen of those studies were of transition countries.

Unfortunately, the World Bank did not study timeliness for Russia. To our knowledge, no studies of timeliness have been done using Russia as a case study, with the exception of the studies mentioned in this book. Thus, there is a gap in the literature that needs to be filled. The purpose of the present study is to partially fill that gap.

Keywords

Corporate Governance Earning Management International Financial Reporting Standard Earning Announcement Audit Firm 
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.

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Copyright information

© Springer Science + Business Media, LLC 2008

Authors and Affiliations

  • Robert W. McGee
    • Michael Tyler
      • 1
    1. 1.Barry UniversityUSA

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