The Relationship between Profitability and the Level of Compliance to the International Financial Reporting Standards (IFRS): An Empirical Investigation on Publicly Listed Corporations in the Philippines
The Relationship between Profitability and the Level of Compliance to the International Financial Reporting Standards (IFRS): An Empirical Investigation on Publicly Listed Corporations in the Philippines
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盈利能力与国际财务报告准则（IFRS）遵守程度之间的关系：对菲律宾上市公司的实证调查
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发表时间：
2011
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通讯作者：
Glenda J. Ferrer
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作者：
Rodiel C. Ferrer;Glenda J. Ferrer
商业世界涉及无数的交易，会计是一种工具，旨在简化这个复杂环境的各个方面。多年来，商业已经演变成各种形式和方法。这促使需要一个专门的系统来监测和评价其目标，即在不损害各部门的道德和福利的情况下赚取利润。其中一个系统是审计。进行审计是为了确定信息的有效性和可靠性，并提供对系统内部控制的评估。审计的分类包括：业务审计、财务审计、合规审计、信息系统审计、调查审计或法务审计。财务报表基本上提供了有关企业的定量财务信息，这些信息对各种各样的使用者在做出经济决策时都很有用。使所述财务报表可信；这些必须由独立的注册会计师（cpa）进行审计。在公认审计准则（GAAS）的指导下，注册会计师进行审计检查，并提交一份报告，说明这些财务报表是否按照公认会计原则（GAAP）公平地呈现。然而，企业的管理层主要负责编制和列报符合公认会计准则的财务报表。为纠正审计中发现的重大错报而进行的任何变更或调整都需要管理层批准。如果没有获得，注册会计师执业者有义务在“独立审计报告”中进行必要的修改（Racasa, 2003）。年度报告是公司与利益相关者沟通的主要方式（Botosan, 1997; and Lang and Lundholm, 1993）。通过这些报告，公司披露了在决策过程中起关键作用的相关信息。由于利益相关者在做出不同类型的决策时严重依赖这些信息，Cooke声称评估公司披露的程度很重要（Cooke, 1989）。这些信息在为利益相关者分配稀缺资源的决策过程中至关重要。关于菲律宾会计准则的这些修订，本研究热切希望对菲律宾选定的上市公司的国际财务报告披露程度有更深入和更清晰的了解，并旨在制定最大限度地遵守国际财务报告准则的策略。本研究还试图确定菲律宾2008年上市公司的盈利能力与合规水平之间的关系。本研究的框架以Padayogdog（2003）对Jensen和Meckling（1976）提出的代理理论的解释为基础；Watts和Zimmerman（1986）和Barderlipe（2008）引用了这一理论。代理理论描述了委托人依赖代理人代表委托人行事的一种关系。这种关系也存在于利益相关者（委托人）和管理层（代理人）之间，尽管这些各方在执行对他们有利的行动方面彼此不同（Cataldo, 2003）。双方之间的冲突是由于他们对自身利益的追求损害了团队合作和目标一致性。这种争议可能导致管理层与利益相关者之间出现所谓的信息不对称。当一方比另一方更容易获得信息时，就会发生信息不对称（Lee and Choi, 2002）。在企业环境中，当管理层有能力控制和隐瞒本应向其他用户提供的信息时，就会发生这种情况。…
INTRODUCTION The business world is involved in a myriad of transactions, and accounting is the tool that seeks to simplify every aspect of this complex environment. Through the years, business has evolved and diversified into various forms and methodologies. This has prompted the need for a specialized system of monitoring and evaluation of its objective, to earn profit, without jeopardizing ethics and the welfare of various sectors. One of these systems is the audit. Audits are performed to determine the validity and reliability of information, and to provide an assessment of a system's internal controls. Classifications of audit include: operational audit, financial audit, compliance audit, information systems audit, and investigative or forensic audit. Financial statements provide basically quantitative financial information about a business enterprise that is useful to a wide variety of users in making economic decisions. To lend credibility to said financial statements; these must be audited by independent certified public accountants (CPAs). Guided by generally accepted auditing standards (GAAS), the CPA conducts the audit examination and renders a report stating an opinion about whether such financial statements were presented fairly in conformity with generally accepted accounting principles (GAAP). However, the management of the business enterprise is primarily responsible for the preparation and presentation of financial statements that conform to GAAP. Any changes or adjustments to correct material misstatements discovered in the audit need management approval. If not obtained, the CPA practitioner is obliged to make the necessary modification in the "Independent Auditor's Report" (Racasa, 2003). Annual reports are the primary mode of communication used by the company to correspond with stakeholders (Botosan, 1997; and Lang and Lundholm, 1993). Through these reports, companies disclose relevant information which plays a crucial role in the decision-making processes. As stakeholders rely heavily on these pieces of information when making different types of decisions, Cooke claims that it is important to assess the extent of disclosures made by a corporation (Cooke, 1989). These pieces of information are crucial in the decision-making processes regarding the allocation of scarce resources for stakeholders. In regard to these revisions of Philippine accounting standard, this study has an earnest desire to have a deeper and clearer understanding regarding the extent of International Financial Reporting disclosure of selected publicly listed corporations in the Philippines and aims to develop strategy to which maximum compliance with International Financial Reporting Standard. This study also seeks to identify the relationships between profitability and the level of compliance among publicly listed corporations in the Philippines for the year 2008. THEORETICAL FRAMEWORK The framework of this study is grounded with interpretation of Padayogdog (2003) regarding the agency theory proposed by Jensen and Meckling (1976; as cited by Watts and Zimmerman, 1986 and Barderlipe, 2008). Agency theory depicts a relationship wherein the principal depends on the agent to act on the principal's behalf. Such relationship also exists between the stakeholders (the principal) and the management (the agent), although these parties differ from each other in terms of executing actions that will be beneficial to them (Cataldo, 2003). Conflicts between the two parties arise because of their self-interest pursuits that compromise teamwork and goal congruence. The dispute may lead to the so-called information asymmetry between the management and the stakeholders. Information asymmetry happens when one party has better access to information than the other (Lee and Choi, 2002). In the firm setting, such condition takes place when management has the ability to control and to conceal information that is supposed to be made known to other users. …