612
Views
0
CrossRef citations to date
0
Altmetric
Accounting, Corporate Governance & Business Ethics

The impact of COVID-19 pandemic on financial reporting delay. Evidence from Ghana

, ORCID Icon, , ORCID Icon &
Article: 2318019 | Received 08 Nov 2023, Accepted 07 Feb 2024, Published online: 26 Feb 2024

References

  • Aduhene, D. T., & Osei-Assibey, E. (2021). Socio-economic impact of COVID-19 on Ghana’s economy: Challenges and prospects. International Journal of Social Economics, 48(4), 1–13. https://doi.org/10.1108/IJSE-08-2020-0582
  • Afenya, M. S., Arthur, B., Kwarteng, W., & Kyeremeh, G. (2022). The impact of audit committee characteristics on audit report time lag: Evidence from Ghana. Research Journal of Finance and Accounting, 13(4), 1–11.
  • Afenya, M. S., Arthur, B., Kwarteng, W., & Opoku, P. (2022). The impact of audit committee characteristics on audit fees: Evidence from Ghana. Cogent Business & Management, 9(1), 2141091. https://doi.org/10.1080/23311975.2022.2141091
  • Aharon, D. Y.,Jacobi, A.,Cohen, Eli.,Tzur, J., &Qadan, M. (2021). COVID-19, government measures and hospitality industry performance. PloS One, 16(8), e0255819. https://doi.org/10.1371/journal.pone.0255819.
  • Ahmad, M., Mohamed, H., & Nelson, S. P. (2016). The association between industry specialist auditor and financial reporting timeliness-Post MFRS period. Procedia - Social and Behavioral Sciences, 219, 55–62. https://doi.org/10.1016/j.sbspro.2016.04.036
  • Ahmed, K. (2003). The timeliness of corporate reporting: A comparative study of South Asia. Advances in International Accounting, 16, 17–43. https://doi.org/10.1016/S0897-3660(03)16002-3
  • Aksoy, M., Yilmaz, M. K., Topcu, N., & Uysal, Ö. (2021). The impact of ownership structure, board attributes and XBRL mandate on timeliness of financial reporting: Evidence from Turkey. Journal of Applied Accounting Research, 22(4), 706–731. https://doi.org/10.1108/JAAR-07-2020-0127
  • Al-Ajmi, J. (2008). Audit and reporting delays: Evidence from an emerging market. Advances in Accounting, 24(2), 217–226. https://doi.org/10.1016/j.adiac.2008.08.002
  • Albitar, K., Gerged, A. M., Kikhia, H., & Hussainey, K. (2020). Auditing in times of social distancing: The effect of COVID-19 on auditing quality. International Journal of Accounting & Information Management, 29(1), 169–178. https://doi.org/10.1108/IJAIM-08-2020-0128
  • Albu, C. N., Albu, N., & Alexander, D. (2014). When global accounting standards meet the local context—Insights from an emerging economy. Critical Perspectives on Accounting, 25(6), 489–510. https://doi.org/10.1016/j.cpa.2013.03.005
  • Alrawashedh, N. H. (2021). Evaluation of continuity impact under the Covid 19 pandemic, during the preparation of 2020 financial reports, and external auditors report of public limited shares companies in Jordan. Indian Journal of Economics and Business, 20(3), 291–310.
  • Appiah-Konadu, P., Apetorgbor, V. K., & Atanya, O. (2022). Non-financial reporting regulation and the state of sustainability disclosure among banks in Sub-Saharan Africa (SSA): A literature review on banks in Ghana and Nigeria. Management and Leadership for a Sustainable Africa, 2, 55–72. https://doi.org/10.1007/978-3-031-04923-14
  • Ashton, R. H., Willingham, J. J., & Elliott, R. K. (1987). An empirical analysis of audit delay. Journal of Accounting Research, 25(2), 275–292. https://doi.org/10.2307/2491018
  • Baatwah, S. R., Salleh, Z., & Ahmad, N. (2013). Whether audit committee financial expertise is the only relevant expertise: A review of audit committee expertise and timeliness of financial reporting. Issues in Social and Environmental Accounting, 7(2), 86. https://doi.org/10.22164/isea.v7i2.76
  • Bajary, A. R., Shafie, R., & Ali, A. (2023). COVID-19 pandemic, internal audit function and audit report lag: Evidence from emerging economy. Cogent Business & Management, 10(1), 2178360. https://doi.org/10.1007/s11356-023-30034-5
  • Bendickson, J., Muldoon, J., Liguori, E., & Davis, P. E. (2016). Agency theory: The times, they are a-changin. Management Decision, 54(1), 174–193. https://doi.org/10.1108/MD-02-2015-0058
  • Benedict, A., Gitonga, J. K., Agyeman, A. S., & Kyei, B. T. (2021). Financial determinants of SMEs performance. Evidence from Kenya leather industry. Small Business International Review, 5(2), e389. https://doi.org/10.26784/sbir.v5i2.389
  • Berle, A. A., & Means, G. G. C. (1991). The modern corporation and private property. Transaction Publishers.
  • Castañeda‐Navarrete, J., Hauge, J., & López‐Gómez, C. (2021). COVID‐19’s impacts on global value chains, as seen in the apparel industry. Development Policy Review, 39(6), 953–970. https://doi.org/10.1111/dpr.12539
  • Çelik, B., Özer, G., & Merter, A. K. (2023). The effect of ownership structure on financial reporting timeliness: An implementation on Borsa Istanbul. SAGE Open, 13(4), 21582440231207458. https://doi.org/10.1177/21582440231207458
  • Chen, C., Jia, H., Xu, Y., & Ziebart, D. (2022). The effect of audit firm attributes on audit delay in the presence of financial reporting complexity. Managerial Auditing Journal, 37(2), 283–302. https://doi.org/10.1108/MAJ-12-2020-2969
  • Daoud, K. A. A., Ku Ismail, K. N. I., & Lode, N. A. (2014). The timeliness of financial reporting among Jordanian companies: Do company and board characteristics, and audit opinion matter? Asian Social Science, 10(13), 191–201. https://doi.org/10.5539/ass.v10n13p191
  • Dave, S., & Mahanta, V. (2020). Auditors feel companies may have to state coronavirus impact in accounts. Economic Times Bureau, India.
  • Decker, R. A., & Haltiwanger, J. (2022). Business entry and exit in the COVID-19 pandemic: A preliminary look at official data. https://www.federalreserve.gov/econres/notes/feds-notes/business-entry-and-exit-in-the-covid-19-pandemic-a-preliminary-look-at-official-data-20220506.html; https://doi.org/10.17016/2380-7172.3129
  • Diab, A. (2021). The implications of the COVID-19 pandemic for the auditing and assurance processes. Journal of Legal, Ethical and Regulatory Issues, 24(Pt. 2), 1.
  • Ding, Y., Du, X., Li, Q., Zhang, M., Zhang, Q., Tan, X., & Liu, Q. (2020). Risk perception of coronavirus disease 2019 (COVID-19) and its related factors among college students in China during quarantine. PloS One, 15(8), e0237626. https://doi.org/10.1371/journal.pone.0237626
  • Drake, M. S., Hales, J., & Rees, L. (2019). Disclosure overload? A professional user perspective on the usefulness of general purpose financial statements. Contemporary Accounting Research, 36(4), 1935–1965. https://doi.org/10.1111/1911-3846.12488
  • Dyczkowska, J. (2021). The impact of covid-19 on accounting, business practice and education. Wydawnictwo Uniwersytetu Ekonomicznego we Wrocławiu.
  • El-Mousawi, H., & Kanso, H. (2020). Impact of COVID-19 outbreak on financial reporting in the light of the international financial reporting standards (IFRS) (an empirical study). Research in Economics and Management, 5(2), p21. https://doi.org/10.22158/rem.v5n2p21
  • Errunza, V. R., & Losq, E. J. J. o B. F. (1985). The behavior of stock prices on LDC markets. The Behavior of Stock Prices on LDC Markets, 9(4), 561–575. https://doi.org/10.1016/0378-4266(85)90007-X
  • Fatmawati, E., & Rohimah, S. (2022). Analysis of factors affecting timeliness of financial reporting in manufacturing companies. Journal of Research in Business, Economics, and Education, 4(2), 10–17. https://doi.org/10.55683/jrbee.v4i2.394
  • Guarte, J. M., & Barrios, E. B. (2006). Estimation under purposive sampling. Communications in Statistics - Simulation and Computation, 35(2), 277–284. https://doi.org/10.1080/03610910600591610
  • Gyasi, R. M. (2020). Fighting COVID-19: Fear and internal conflict among older adults in Ghana. Journal of Gerontological Social Work, 63(6–7), 688–690. https://doi.org/10.1080/01634372.2020.1766630
  • Hakansson, N. H. (1977). Interim disclosure and public forecasts: An economic analysis and a framework for choice. The Accounting Review, 52(2), 396–426. doi:https://www.jstor.org/stable/245417
  • Harjoto, M. A., & Laksmana, I. (2022). The impact of COVID-19 lockdown on audit fees and audit delay: International evidence. International Journal of Accounting & Information Management, 30(4), 526–545. https://doi.org/10.1108/IJAIM-02-2022-0030
  • Harymawan, I., & Putri, F. V. (2023). Internal audit function, audit report lag and audit fee: Evidence from the early stage of COVID-19 pandemic. Journal of Accounting in Emerging Economies, 13(4), 784–805. https://doi.org/10.1108/JAEE-10-2021-0318
  • Hossain, M. (2021). The effect of the Covid-19 on sharing economy activities. Journal of Cleaner Production, 280, 124782. https://doi.org/10.1016/j.jclepro.2020.124782
  • Jaggi, B., & Tsui, J. (1999). Determinants of audit report lag: Further evidence from Hong Kong. Accounting and Business Research, 30(1), 17–28. https://doi.org/10.1080/00014788.1999.9728921
  • Johnson, L. E. (1996). Further evidence on the determinants of local government audit delay. Journal of Public Budgeting, Accounting & Financial Management, 10(3), 375–397. https://doi.org/10.1108/JPBAFM-10-03-1998-B003
  • Khaksar, J., Salehi, M., & Lari DashtBayaz, M. (2022). The relationship between auditor characteristics and fraud detection. Journal of Facilities Management, 20(1), 79–101. https://doi.org/10.1108/JFM-02-2021-0024
  • Klöckner, M., Schmidt, C. G., Wagner, S. M., & Swink, M. (2023). Firms’ responses to the COVID-19 pandemic. Journal of Business Research, 158, 113664. https://doi.org/10.1016/j.jbusres.2023.113664
  • Lawal, T., & Shinozawa, Y. (2022). Financial reporting lag during COVID-19: Evidence from flash reporting in Japan. Asia-Pacific Journal of Accounting & Economics, 1–19. https://doi.org/10.1080/16081625.2022.2147967
  • Leventis, S., & Weetman, P. (2004). Timeliness of financial reporting: Applicability of disclosure theories in an emerging capital market. Accounting and Business Research, 34(1), 43–56. https://doi.org/10.1080/00014788.2004.9729950
  • Lone, S. A., & Ahmad, A. (2020). COVID-19 pandemic–An African perspective. Emerging Microbes & Infections, 9(1), 1300–1308. https://doi.org/10.1080/22221751.2020.1775132
  • Lukason, O., & Camacho-Miñano, M-d-M (2019). Bankruptcy risk, its financial determinants and reporting delays: Do managers have anything to hide? Risks, 7(3), 77. https://doi.org/10.3390/risks7030077
  • Mackenzie, J. S., & Smith, D. W. (2020). COVID-19: A novel zoonotic disease caused by a coronavirus from China: what we know and what we don’t. Microbiology Australia, 41(1), MA20013. https://doi.org/10.1071/MA20013
  • Mathuva, D. M., Tauringana, V., & Owino, F. J. O. (2019). Corporate governance and the timeliness of audited financial statements: The case of Kenyan listed firms. Journal of Accounting in Emerging Economies, 9(4), 473–501. https://doi.org/10.1108/JAEE-05-2018-0053
  • Metwally, A. B. M., Diab, A., & Mohamed, M. K. (2021). Telework operationalization through internal CSR, governmentality and accountability during the Covid-19: Evidence from a developing country. International Journal of Organizational Analysis, 30(6), 1441–1464. https://doi.org/10.1108/IJOA-11-2020-2500
  • Musah, A., Padi, A., & Ahmed, I. A. (2022). The effect of the COVID-19 pandemic on the financial performance of commercial banks in Ghana. International Journal of Accounting & Finance Review, 12(1), 21–29. https://doi.org/10.46281/ijafr.v12i1.1804
  • Nkansah, C., Serwaa, D., Adarkwah, L. A., Osei-Boakye, F., Mensah, K., Tetteh, P., Awudu, S., & Apodola, A. (2020). Novel coronavirus disease 2019: Knowledge, practice and preparedness: a survey of healthcare workers in the Offinso-North District, Ghana. The Pan African Medical Journal, 35(Suppl 2), 79. https://doi.org/10.11604/pamj.supp.2020.35.2.23644
  • Nurunnabi, M. (2015). Tensions between politico‐institutional factors and accounting regulation in a developing economy: Insights from institutional theory. Business Ethics: A European Review, 24(4), 398–424. https://doi.org/10.1111/beer.12089
  • Nyantakyi, G., Gyimah, J., Sarpong, F. A., & Sarfo, P. A. (2023). Powering sustainable growth in West Africa: Exploring the role of environmental tax, economic development, and financial development in shaping renewable energy consumption patterns. Environmental Science and Pollution Research, 30(50), 109214–109232. https://doi.org/10.1007/s11356-023-30034-5
  • Owusu-Ansah, S. (2000). Timeliness of corporate financial reporting in emerging capital markets: Empirical evidence from the Zimbabwe Stock Exchange. Accounting and Business Research, 30(3), 241–254. https://doi.org/10.1080/00014788.2000.9728939
  • Owusu-Ansah, S., & Leventis, S. (2006). Timeliness of corporate annual financial reporting in Greece. European Accounting Review, 15(2), 273–287. https://doi.org/10.1080/09638180500252078
  • Owusu-Sekyere, F., & Kotey, R. A. (2019). Profitability of insurance brokerage firms in Ghana. Academic Journal of Economic Studies, 5(2), 179–192.
  • Rababah, A., Al‐Haddad, L., Sial, M. S., Chunmei, Z., & Cherian, J. (2020). Analyzing the effects of COVID‐19 pandemic on the financial performance of Chinese listed companies. Journal of Public Affairs, 20(4), e2440. https://doi.org/10.1002/pa.2440
  • Ruiz, F. J., Luciano, C., & Sierra, M. A. (2020). A systematic and critical response to Pendrous et al.(2020) replication study. Journal of Contextual Behavioral Science, 17, 39–45. https://doi.org/10.1016/j.jcbs.2020.04.011
  • Sengupta, P. (2004). Disclosure timing: Determinants of quarterly earnings release dates. Journal of Accounting and Public Policy, 23(6), 457–482. https://doi.org/10.1016/j.jaccpubpol.2004.10.001
  • Shleifer, A., & Vishny, R. W. (1989). Management entrenchment: The case of manager-specific investments. Journal of Financial Economics, 25(1), 123–139. https://doi.org/10.1016/0304-405X(89)90099-8
  • Sohrabi, C., Alsafi, Z., O’Neill, N., Khan, M., Kerwan, A., Al-Jabir, A., Iosifidis, C., & Agha, R. (2020). World Health Organization declares global emergency: A review of the 2019 novel coronavirus (COVID-19). International Journal of Surgery (London, England), 76, 71–76. International Journal of Accounting & Finance Review
  • Tibiletti, V., Marchini, P. L., Gamba, V., & Todaro, D. L. (2021). The impact of COVID-19 on financial statements results and disclosure: First insights from Italian listed companies. Universal Journal of Accounting and Finance, 9(1), 54–64. https://doi.org/10.13189/ujaf.2021.090106
  • Türel, A. (2010). Timeliness of financial reporting in emerging capital markets: Evidence from Turkey. İstanbul Üniversitesi İşletme Fakültesi Dergisi, 39(2), 227–240.
  • Velayutham, A., Rahman, A. R., Narayan, A., & Wang, M. (2021). Pandemic turned into pandemonium: the effect on supply chains and the role of accounting information. Accounting, Auditing & Accountability Journal, 34(6), 1404–1415. https://doi.org/10.1108/AAAJ-08-2020-4800
  • Xue, F., Li, X., Zhang, T., & Hu, N. (2021). Stock market reactions to the COVID-19 pandemic: The moderating role of corporate big data strategies based on Word2Vec. Pacific-Basin Finance Journal, 68, 101608. https://doi.org/10.1016/j.pacfin.2021.101608
  • Yeboah, E. N., Addai, B., & Appiah, K. O. (2023). Audit pricing puzzle: Do audit firm industry specialization and audit report lag matter? Cogent Business & Management, 10(1), 2172013. https://doi.org/10.1080/23311975.2023.2172013