Implications of Financial and Non-financial Measures on the Refinement of the Assessments of Audit Risk： An Empirical Investigation

Identifying and assessing audit risk is a key part of the audit process. Prior research documented that auditors primarily look at financial data, information, and measures when assessing the audit risk for an audit engagement. However, professional standard setters, regulators, and academic researchers have discussed the potential for non-financial data, information, and measures to provide a powerful and independent benchmark for evaluating the validity of the numbers of financial statements of an audit client. A field study was conducted in Egypt during the years 2013 and 2014 to explore how auditors perceive and assess audit risk for an audit engagement in the period following the Egyptian revolution of January 25, 2011. The results of the field study indicated that auditors appear not to give sufficient attention to non-financial data, information, and measures when assessing the audit risk during an audit engagement. Auditors seem to rely on financial data, information, and measures when assessing the audit risk of an audit engagement. Furthermore, auditors do not seem to consider the inconsistencies between financial and non-financial data, information, and measures of an audit client as an indicator of the existence of fraud or material misstatements in the financial statements of an audit client.

The New Financial Management Measure In Forestry Industry

The Private Finance Initiative has provided the framework for the completion of a large number of capital projects managed by the public sector bodies. It secures value for money in the use of public resource and achieves a genuine transfer of risk to the private sector. PFI project shows a lot of benefits for the UK, Chinese Government also would like o use it to improve the public infrastructure.

Analysis of Factors of the sports industry affected by the financial crisis and the development of countermeasures

The 2008 financial crisis on China＇ s economy has had a huge impact. And sports tourism, sports competitions, sporting goods industry, sports and fitness industry and other industries at the core of the sports industry are no exception, deeply affected by the financial crisis. Therefore, in-depth analysis of the current development of the sports industry, as well as explore the impact of the financial crisis on China＇ s sports industry and propose appropriate measures, has a very important practical significance.

Determinants of international joint venture performance measurement： A theoretical framework

International joint ventures （IJVs） have increasingly their role in business world and also in research field of international business. There have been a lot of studies related to determinant factors of IJV performance. However, there are very few studies focusing on the measurement of I Jr performance. Especially, researchers have ignored how foreign parent firms really choose their measures in the evaluation of their IJV performance. This research investigates determinant factors of performance measures of 1JVs. Determinant factors of IJV performance measures include motives for establishment, establishment mode, location of IJVs, distribution of ownership in IJVs, cultural background of parent firms, and trust between partners, IJV life stages, parent firms＇ international experience, and relatedness of the IJVs to their parents. Performance measures are divided into financial measures and non-financial measures. The paper shows how different determinant factors are expected to lead foreign parent firms preferring one kind of measure over the other.

Predicting Firms' Financial Failure Using Financial Ratios: an Empirical Studies of Chinese Firms

The stock market has played an important role in today’s China economy. Due to the fact that a number of the listed companies did not generate the return that the investors expected, the research on the causes of financial failure and predicting such financial failure becomes very important for future capital market development. The paper selected 43 ST(Special Treat) and 43 Non-ST companies as sample, using financial ratio and the factor analysis model to compare and analyse. This study especially analyses profitability, operation efficiency and development ability of firms and focuses on the design of an early warning system for possible financial failure of the listed companies by using factor analysis.

Financial and Tax Measures of South Korea Tackling COVID-19

On 18 March 2020,President Moon Jae-in of South Korea said the COVID-19 outbreak is s imultaneously impacting supply and demand and causing a multi-crisis for the real economy and finance.In trying to overcome the downturn by utilizing both fiscal and monetary policies,the government of South Korea has so far introduced a total of KRW141 trillion(USD115 billion,7.4%of GDP)support measures to mitigate the impact of the COVID-19 including liquidity provisions and credit guarantees.