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Article
Publication date: 13 November 2019

Yi Zhang, Gin Chong and Ruixin Jia

The purpose of this paper is to investigate the interaction between mandatory disclosures and voluntary disclosures of banks and the information content of corporate disclosures…

2231

Abstract

Purpose

The purpose of this paper is to investigate the interaction between mandatory disclosures and voluntary disclosures of banks and the information content of corporate disclosures on firm performance.

Design/methodology/approach

Based on the US-listed banks from 2007 to 2015, this paper examines the interplay among the fair-value measurement, corporate governance disclosure and voluntary social responsibility disclosure. In addition, the paper examines the extent of such disclosure of mandatory items (fair-value measurement) versus voluntary items (corporate governance and social responsibility issues) on banks’ performance in terms of their return on equity and return on asset.

Findings

This paper finds that banks with a higher social responsibility disclosure score and stronger corporate governance tend to have lower percentages of Level 3 fair-value assets. Banks with a higher Level 3 fair-value asset disclosure have a lower financial performance.

Practical implications

This paper provides evidence of the interplay of various corporate disclosures by banks and implies that banks use fair-value measurements to disguise their poor performance. The findings provide insights for the policymakers, investors and regulators to assess banks’ disclosure.

Originality/value

This paper extends the study of banks’ fair-value measurements and is the first study to examine the interaction between voluntary and mandatory disclosures. This study sheds lights on the theories of performativity, agency and stakeholder by demonstrating the information contents of corporate disclosures on firm performance.

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Article
Publication date: 14 May 2018

David Mutua Mathuva and H. Gin Chong

This paper aims to utilize institutional theory to examine the impact of the 2008-2010 regulatory reforms on compliance with mandatory disclosures by savings and credit…

502

Abstract

Purpose

This paper aims to utilize institutional theory to examine the impact of the 2008-2010 regulatory reforms on compliance with mandatory disclosures by savings and credit co-operatives (SACCOs) in Kenya.

Design/methodology/approach

Two-stage least squares panel regression approach is utilized to analyse data covering 1,272 firm-year observations for 212 SACCOs over a six-year period, 2008-2013. An analysis of the pre- and post-regulation impacts on compliance with mandatory disclosure requirements is also performed.

Findings

The results, which are in support of the institutional theory, reveal that licensed SACCOs engage in higher compliance with mandatory disclosures, and this improves from the pre- to the post-regulation period. The results show that SACCOs under inquiry engage in lower compliance with mandatory disclosure requirements, especially in the post-regulation period. The findings also reveal a significant and positive association between SACCO size, co-operative governance and compliance with mandatory disclosure requirements.

Research limitations/implications

The study focuses on transition-level SACCOs in a single country. An extension into other jurisdictions with nascent, transitional and mature SACCOs would provide greater insights into the impact of disclosure regulation. Further, the study uses a self-constructed disclosure checklist which is subject to coding errors and biases.

Practical implications

The findings highlight the need for SACCO regulators and accounting professional body to devise incentives to improve the level of compliance with required disclosures.

Originality/value

The study contributes to the dearth of evidence on the efficacy of the introduction of mandatory disclosure requirements in a developing country where compliance is problematic because of difficulties with enforcement.

Details

Journal of Financial Regulation and Compliance, vol. 26 no. 2
Type: Research Article
ISSN: 1358-1988

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Available. Content available
577

Abstract

Details

Microelectronics International, vol. 40 no. 2
Type: Research Article
ISSN: 1356-5362

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Article
Publication date: 1 April 1994

H. Gin Chong and Gerald Vinten

Materiality is an ill‐defined yet important concept in auditing. However, lack of an auditing guideline exposes auditors to possible litigations due to failure to detect material…

569

Abstract

Materiality is an ill‐defined yet important concept in auditing. However, lack of an auditing guideline exposes auditors to possible litigations due to failure to detect material misstatement in the financial statements. This paper assesses decisions by UK courts on materiality thresholds. The results from 28 selected cases failed to reveal any consistency in the adoption of materiality thresholds. A guideline is urgently needed by the Auditing Practices Board to increase consistency in decisions on material transactions/events.

Details

Journal of Financial Crime, vol. 2 no. 3
Type: Research Article
ISSN: 1359-0790

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Article
Publication date: 1 March 1999

Erkki K. Laitinen and H. Gin Chong

This paper presents a model for predicting crises in small businesses using early‐warning signals. It summarises the results of two separate studies carried out in Finland (with…

1566

Abstract

This paper presents a model for predicting crises in small businesses using early‐warning signals. It summarises the results of two separate studies carried out in Finland (with 72 per cent response) and the UK (26 per cent) on the decision process of corporate analysts (Finland) and bank managers (UK) in predicting the failure of small and medium‐sized enterprises (SMEs). Both studies consist of seven main headings and over 40 sub‐headings of possible factors leading to failure. Weighted averages were used for both studies to show the importance of these factors. There are significant similarities in the results of the two studies. Management incompetence was regarded as the most important factor, followed by deficiencies in the accounting system and attitude towards customers. However, low accounting staff morale was considered a very important factor in Finland but not in the UK. Unlike Finland, the UK results emphasised the importance of accounting systems and internal control. These two studies differ from previous studies as managerial auditing elements like the importance of internal control departments (UK evidence) and budgetary control systems were included. Similarities in the results of these surveys conducted under two separate EU environments imply that it would be interesting and beneficial to extend these studies to other member states.

Details

Journal of Small Business and Enterprise Development, vol. 6 no. 1
Type: Research Article
ISSN: 1462-6004

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Article
Publication date: 1 May 2000

Gin Chong

Outlines the history of auditing in China and the auditing standards and guidelines issued in 1997 to improve consistency in the audit of government departments and state‐run…

1179

Abstract

Outlines the history of auditing in China and the auditing standards and guidelines issued in 1997 to improve consistency in the audit of government departments and state‐run enterprises under the responsibility of the National Audit Office (NAO). Explains that they focus on auditing processes rather than more subjective areas but are used by the NAO’s audit bureaux and by private accounting firms, including those with international connections. Compares them with international auditing guidelines, which cover subjective issues but are aimed at commercial organizations. Recognizes some concern in China over the money spent on the NAO and calls for public education on the nature and purpose of audit, for parameters to be set to narrow the scope of auditors subjective judgements and for harmonization with international standards.

Details

Managerial Finance, vol. 26 no. 5
Type: Research Article
ISSN: 0307-4358

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Article
Publication date: 1 September 1996

H. Gin Chong, Reader and Gerald Vinten

Risk is closely associated with return of investments and materiality. Investments with considerably higher risk normally attract a higher rate of return. Whereas, higher level of…

742

Abstract

Risk is closely associated with return of investments and materiality. Investments with considerably higher risk normally attract a higher rate of return. Whereas, higher level of risk needs a higher threshold of materiality. There are occasions in which financial managers, fail to take the materiality effects in the process of risk evaluation. This paper assesses risk in the auditing context. Audit risk models established by researchers reveal that there is a need to look into the effects of materiality. An extension on the existing audit models, to incorporate the effects of materiality is made. With this, 128 permutations were resulted. It is understandable that auditors may not be cost benefit for auditors to evaluate all the 128 possible outcomes before the issuance of audit reports; however, this by no means prevents auditors being sued for negligence due to neglecting one of the possible audit outcomes. This model could seriously be served as a reference to both auditors and financial managers in the light of evaluating risk.

Details

Managerial Finance, vol. 22 no. 9
Type: Research Article
ISSN: 0307-4358

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Article
Publication date: 5 May 2015

Gin Chong

– This paper aims to assess 12 audit procedures that deemed challenging to insurance audits.

1557

Abstract

Purpose

This paper aims to assess 12 audit procedures that deemed challenging to insurance audits.

Design/methodology/approach

This paper uses grounded theory as a framework for conducting series of semi-structured interviews with six technical audit partners, two from Big Four and four from non-Big Four. The interview agendas are drawn from the 12 audit approaches suggested by Practice Notes 20 (The Audit of Insurance in the United Kingdom) issued by the Auditing Practices Board (UK).

Findings

Without an audit standard, practitioners will exercise excessive professional judgments and deviate from audit approaches.

Research limitations/implications

Though the findings are solely drawn from the insurance sector rather than a wide spectrum of sectors, they have huge ramifications to accounting and audit professions, stakeholders and regulators.

Practical implications

This paper reveals differences in audit approaches between the theoretical context and practical perspective.

Social implications

The paper showed that impact of audit failure leads to litigation, financial losses and loss of faith in audit quality and approaches.

Originality/value

This paper suggests a hybrid approach on the grounded theory, provides an extensive overview of the sector’s audit approaches and issues and unravels an urgent need for a concerted international auditing standard.

Details

International Journal of Accounting & Information Management, vol. 23 no. 2
Type: Research Article
ISSN: 1834-7649

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Article
Publication date: 14 March 2016

Henry Huang and H. Gin Chong

This paper aims to analyze Public Companies Accounting Oversight Board (PCAOB) inspection reports on audit reports of those inspected accounting firms in Brazil, Russia, India and…

680

Abstract

Purpose

This paper aims to analyze Public Companies Accounting Oversight Board (PCAOB) inspection reports on audit reports of those inspected accounting firms in Brazil, Russia, India and China (BRIC). In meeting the requirements of the Sarbanes-Oxley Act, the PCAOB conducts inspections on audit reports of firms listed on the New York Stock Exchange.

Design/methodology/approach

The reports include those submitted by both the US audit parent firms and their secondary firms located outside the USA. In each PCAOB report, it unravels the nature of audit deficiencies. The focus is on Big Four because they play a dominant role in the marketplace and issuers’ market capitalization. All the seven-year deficiencies are documented since publications of the reports from 2004 to 2012.

Findings

Of the 37 reports, 19 (51 per cent) were issued relating to audits conducted by the Big Four. Out of these 19 reports, 10 (53 per cent) contain inspection criticism. These include audit quality and common recurring audit deficiencies.

Research limitations/implications

This paper is based solely on those inspection reports published by the PCAOB.

Practical implications

The findings have significant implications to audit firms and the audit profession on improving audit quality, firms’ internal control and reports.

Originality/value

No known prior research paper is available on the ramifications of the PCAOB’s inspection reports relating to BRIC.

Details

International Journal of Law and Management, vol. 58 no. 2
Type: Research Article
ISSN: 1754-243X

Keywords

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Article
Publication date: 29 April 2014

Chong Leong Gan, Francis Classe, Bak Lee Chan and Uda Hashim

The purpose of this paper is to provide a systematic review on technical findings and discuss the feasibility and future of gold (Au) wirebonding in microelectronics packaging. It…

678

Abstract

Purpose

The purpose of this paper is to provide a systematic review on technical findings and discuss the feasibility and future of gold (Au) wirebonding in microelectronics packaging. It also aims to study and compare the cost, quality and wear-out reliability performance of Au wirebonding with respect to other wire alloys such as copper (Cu) and silver (Ag) wirebonding. This paper discusses the influence of wire type on the long-term reliability tests.

Design/methodology/approach

Literature reviews are conducted based on cost and wire selections of Au, Cu or Ag wirebonding. Detailed wear-out failure findings and wire selection with cost considerations are presented in this review paper. The future and the status of Au wirebonding in microelectronics packaging are discussed in this paper.

Findings

This paper briefly reviews selected aspects of the Au ball and other alternative bonding options, focusing on reliability performance, and discusses the future of Au wirebonding in the near future in semiconductor packaging.

Practical implications

The paper reveals the technical considerations when choosing the wire types for future microelectronics packaging.

Originality/value

The in-depth technical review and strategies of the selection of wire types (Au, Cu or the latest Ag alloy) in microelectronics packaging are discussed in this paper based on previous literature studies.

Details

Microelectronics International, vol. 31 no. 2
Type: Research Article
ISSN: 1356-5362

Keywords

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