FİNANSAL RAPORLAMANIN YAYINLANMA SÜRESİNİN BELİRLEYİCİLERİ

Abstract

Bu çalışmanın amacı, finansal raporlamanın yayınlanma süresine etki eden faktörleri ve önem düzeylerini belirlemektir. Bu çalışma, 2011-2015 yılları arasında Borsa İstanbul’da BİST işlem gören ve konsolide olmayan finansal tablo düzenleyen 85 şirketin verilerini kapsamaktadır. Çalışmanın amacı kapsamında, şirket özelikleriyle ve bağımsız denetimle ilgili sekiz adet hipotez denetim firmasının büyüklüğü, denetim görüşü, şirketin büyüklüğü, şirket karlılığı, şirket yaşı, finansal kaldıraç oranı, denetim komitesinin toplantı sıklığı, şirketin yönetim kurulu üye sayısı geliştirilmiştir. Bu hipotezleri test etmek için panel veri analizi kullanılmıştır. Elde edilen bulgulara göre; finansal raporlamanın yayınlanma süresi ile denetim firmasının ve denetim görüşünün türü, şirketlerin cari dönemde kar raporlaması ve finansal sektörde faaliyet göstermesi ve kaldıraç oranı arasında istatistiksel olarak anlamlı ve negatif bir ilişki olduğu tespit edilmiştir. Ayrıca finansal raporlamanın yayınlanma süresi ile denetim firmasının ve baş denetçinin değişmesi negatif ancak istatistiksel olarak anlamlı bir ilişki tespit edilememiştir. Bu sonuçlar, gerek gerek yatırımcı, gerekse de yöneticiler ve denetçiler açısından finansal raporların zamanında sunumunu etkileyen unsurlarla ilgili kanıtlar sunarak, bunların farkındalığı artırılacaktır.

Keywords

• Finansal Raporlama
• Yayınlanma Süresi
• Denetim

DETERMINANTS TIMELINESS OF FINANCIAL REPORTS

Abstract

The aim of this study is to determine the effect of factors and levels of importance that affect the duration of financial reporting. This study covers the data of 85 companies that are traded in the stock exchange Istanbul BİST between 2011-2015 and which have non-consolidated financial statements. Within the scope of the purpose of the study, eight hypotheses size of audit firm, audit opinion, company size, company profitability, company age, financial leverage ratio, audit committee meeting frequency, number of board members of the company Panel data analysis was used to test these hypotheses. According to findings; it has been determined that the duration of publication of financial reporting and the type of audit firm and audit opinion, statistically significant and negative relationship between companies reporting profit in the current period and operating in the financial sector and leverage ratio. In addition, the change in the audit firm and head supervisor over the period of publication of the financial reporting was negative but not statistically significant. These results will be enhanced by providing evidence of the factors affecting the timely presentation of financial reports, both in terms of investors and managers and auditors

Keywords

• Financial Reporting
• Duration of Publication
• Audit

References

1. Abdullah, S. N. (2006). Board Composition, Audit committee and Timeliness of Corporate Financial Reports in Malaysia. Corporate Ownership & Control, 4(2), 33-45.
2. Afify, H. A. E. (2009). Determinants of audit report lag does implementing corporate governance have any impact? Empirical evidence from Egypt. Journal of Applied Accounting Research, 10(1), 56–86.
3. Aktaş R., & Karğın M. (2011). Timeliness of reporting and the quality of financial information. International Research Journal of Finance and Economics, 63, 71-77.
4. Al Jabr, Y. A. (2006). The timeliness of Saudi financial reports and firm characteristics. Riyadh: Institute of Public Administration.
5. Al-Ajmi, J. (2008). Audit and reporting delays: Evidence from an emerging market. Advances in Accounting, 24(2), 217-226.
6. Al-Ghanem,W., & Hegazy, M. (2011). An empirical analysis of audit delays and timeliness of corporate financial reporting in Kuwait, Eurasian Business Review Volume 20(1), 73-90.
7. Al-Juaidi, O., & Al-Afifi, A. A. (2016). The Factors Affecting Timeliness of Corporate Financial Reporting: Empirical Evidence from the Palestinian and Amman Stock Exchange.
8. AL-Shwiyat, & Ziya, M. (2013). Affecting Factors on the Timing of the Issuance of Annual Financial Reports Empirical Study on the Jordanian Public Shareholding Companies. European Scientific Journal, 9(22), 407-423.

9. Al-Tahat, & Saqer, Sulaiman, Y. (2015), Company Attributes and the Timeliness of Interim Financial Reporting in Jordan, International Journal of Application or Innovation in Engineering & Management, Vol. 4 (3), pp. 6-16.
10. Arı, M. (2008), Kurumsal Yönetim ve Finansal Raporlamanın Güvenirliliği, Eskişehir Osman Gazi Üniversitesi İİBF Dergisi, 3 (2), 43-68.
11. Bengü, V., & Burcu, A. (2013): Is Timeliness of Corporate Financial Reporting Related to Accounting Variables? Evidence From Istanbul Stock Exchange, International Journal of Business and Social Science, 4(6).
12. Carslaw, C. A. P. N. & Kaplan, S. E. (1991). An examination of audit delay: Further evidence from New Zealand. Accounling And Business Research, 22 (85), 21-32.
13. Cengiz, S. (2017). Denetim Komitesi Etkinliğinin Denetim Raporlarının Yayınlanma Süresi Üzerindeki Etkisinin İncelenmesi: Mali Çözüm Dergisi, 27 , 31-60. Borsa İstanbul’da Bir Uygulama
14. Daoud, K.A.A., K.N.K. Ismail, & N.A. Lode. 2015. “The Impact of Internal Corporate Governance on the Timeliness of Financial Reports of Jordanian Firms: Evidence using Audit and Management Report Lags”, Mediterranean Journal of Social Sciences, 6(1): 430-442.
15. Deloof M., & Weet V. (2003), External Financing, Information Disclosure and the Timeliness of Annual Shareholder Meetings and Financial Filings in Belgium. Deloitte & Touche Belgium.
16. Dhaliwal, D. S., Schatzberg, J. W., & Trombley, M. A. (1993). An analysis of the economic factors related to auditor-client disagreements preceding auditor changes. Auditing: A Journal of Practice & Theory, 12(2), 22-38.
17. Doğan, M., Coskun, E., & Melik, O. (2007). Is timing of financial reporting related to firm performance? An examination on ISE listed companies. International Research Journal of Finance and Economics, 12(2), 220-233.
18. Dumlu, T., & Saltoğlu, M. (2011). “The Timeliness of Annual Reports in Turkey: An Empirical Study”, World of Accounting Science, 13(1), 1-21.
19. Ebimobowei, A., & E. Yadirichukwu. (2013). “Corporate Governance Structure and Timeliness of FinancialReports of Quoted Firms in Nigeria”, European Journal of Business and Management, 5(32): 34- 45.
20. Erer, M., & Cömert, Ç. E. (2014). Timeliness of Financial Reporting in Turkey. Iktisat İşletme ve Finans, 29(337), 73-94.
21. Ertan, Y., Yücel, E., & Saraç, M. (2013). Konsolide Finansal Tablo Düzenleme Yükümlülüğü Olan İşletmelerin Denetim Süresini Etkileyen Faktörler, Uluslararası Yönetim İktisat ve İşletme Dergisi, 9(19): 275-292.
22. Giroux, G., & McLelland, A. J. (2000). An empirical analysis of auditor report timing by large municipalities. Journal of Accounting and Public Policy, 19(2), 263–281.
23. Hashim, F., & Jambari, A.R. (2013). “Relationship between Corporate Attributes and Timeliness in Corporate Reporting: Malaysian Evidence”, Jurnal Teknologi, 64(2): 115-119.
24. Ibadin, I.M., Izedonmi, F., & Ibadin, P.O. (2013). “The Association between Selected Corporate Governance Attributes, Company Attributes and Timeliness of Financial Reporting in Nigeria”, Research Journal of Finance and Accounting, 3(9): 137-144.
25. Ismail, H., Mustapha, M., & Ming, C. O. (2012). Timeliness of Audited Financial Reports of Malaysian Listed Companies. International Journal of Business and Social Science, 3(22).
26. Iyoha, F.O. (2012). Company Attributes and the Timeliness of Financial Reporting in Nigeria, Business Intelligence Journal, 5(1), 41-49.
27. Karim, W., Ahmed, K., & Islam, A. (2006). The effect of regulation on timeliness of corporate financial reporting: Evidence from Bangladesh. JOAAG, 1(1), 15-35.
28. Kirk, D. J. (2000). Experience with the Public Oversight Board and corporate audit committees. Accounting Horizons, 14(1), 103–111.
29. Ku Ismail, K., & Chandler, R. (2004). The timeliness of quarterly financial reports of companies in Malaysia, Asian Review of Accounting, 12(1), 1-18.
30. Li, J., Pike, R., & Haniffa, R. (2008). Intellectual capital disclosure and corporate governance structure in UK. Accounting and Business Research, 38(2): 136–159.
31. Mahajan, P., & Chander, S. (2008). Determinants of timeliness of corporate disclosure of selected companies in India. Journal of Accounting Research, 7(4), 28-63.
32. Merdekawati, I. & Arsjah, R. J. (2011). Timeliness of Financial Reporting: An Empirical Study in Indonesia Stock Exchange. IJAR, 14(3).
33. Nelson, S.P., & Shukeri, S.N. (2011). Corporate governance and audit report timeliness: evidence from Malaysia. Research in Accounting in Emerging Economies 11, 109–127.
34. Owusu-Ansah, S. (2000). Timeliness of corporate financial reporting in emerging capital markets: Empirical evidence from the Zimbabwe stock exchange. Accounting & Business Research, 30(3), 241-254.
35. Owusu-Ansah, S., & Leventis, S. (2006). Timeliness of corporate annual financial reporting in Greece. European Accounting Review, 15(2), 273–287.
36. Özkan, S., Karaibrahimoğlu, Y., Acar, E., & Öz, İ. (2013). “Finansal Tabloların Sunum Tarihini Etkileyen Faktörler: İMKB Firmaları Üzerine Bir Uygulama”, Muhasebe Bilim Dünyası Dergisi, 15 (3), 167-185.
37. Persons, O. S. (2009). “Audit committee characteristics and earlier voluntary ethics disclosure among fraud and no-fraud firms”. International Journal of Disclosure and Governance, 6(4), 284–297.
38. Rahmawati, E. (2013). Information Content and Determinants of Timeliness of Financial Reporting of Manufacturing Firms in Indonesia. Unpublished doctoral thesis, Victoria University, Australia.
39. Saqer, Al-Tahat, S.Y. (2015). Timeliness of audited financial reports of Jordanian listed companies. IPASJ International Journal of Management, 3(2), 39-47.
40. Soltani, B. (2002). Timeliness of corporate and audit reports: Some empirical evidence in the French context. The International Journal of Accounting, 37(2), 215-246.
41. Türel, A. (2010). Timeliness of financial reporting in emerging capital markets: Evidence from Turkey, İstanbul Üniversitesi İşletme Fakültesi Dergisi, 39(2), 227-240.
42. Vafeas, N. (2005). Audit committee, boards, and the quality of reported earnings. Contemporary Accounting Research, 22(4): 1093–1122.
43. Vuran, B., & Adiloğlu, B. (2013). Is Timeliness of Corporate Financial Reporting Related to Accounting Variables? Evidence From Istanbul Stock Exchange. International Journal of Business and Social Science, 4 (6), 58-70.
44. Yadirichukwu, E., & Ebimobewei, A. (2013). Audit Committee and Timelines of Financial Reports: Empirical Evidence from Nigeria. Journal of Economics and Sustainable Development, 2(5).