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A Study on the Disclosure Practices of Banks in India
with Reference to Indian Accounting Standards
--B G Poornima, Swizel Jesslin Alphonso and Y V Reddy
Disclosure may be defined as a practice of releasing important information about various activities and affairs of the business through annual reports, press releases, interim reports, quarterly results and various other published results. The present study mainly aims at examining the disclosure practices followed by the public and private sector banks in India and the factors affecting the disclosure practices of banks in India. Banks forming a part of Nifty Bank Index have been considered as the sample for the study for the period 2014-15. There are 12 banks included in this index comprising 7 private sector banks and 5 public sector banks. It is concluded that since all the banks considered in the study are listed banks, disclosure scores among public and private sector banks do not vary to a great extent. Accounting for Fixed Assets and Revenue Recognition are the highly disclosed accounting standards, while Accounting for Amalgamation is the least disclosed accounting standard. Size of the bank, profitability and age are the significant factors affecting the disclosure practices of banks in India. The results also show that disclosure practices vary among banks as well as across the years.
© 2016 IUP. All Rights Reserved.
A Study on GST and Its Probable Impact
on the Sales Tax Revenue of Kerala
--T Benix Kanjiravila
Goods and Services Tax (GST) is a type of unified value-added tax on goods and services which is levied at country level. The main objective of this new tax regime in India is to avoid multiple taxation on same goods and services. Introduction of this destinationbased consumption tax will stimulate Indian industry and ensure its overall economic development and growth. The present paper mainly focuses on examining the structure, features and expected challenges of proposed GST, and also endeavors to forecast its probable impact on the sales tax revenue of Kerala. Based on the trends from 2004-05 to 2014-15 under VAT regime, the non-VAT and VAT revenue of Kerala is expected to grow at a diminishing rate in the coming years. This shortage of VAT revenue will have an adverse impact on the economy. GST is the only option to increase the tax revenue of Kerala.
© 2016 IUP. All Rights Reserved.
An Empirical Investigation of Readability and Communicative
Performance of Auditor’s Report Post ISA 700
--Mondher Fakhfakh
Currently, the International Standard on Auditing (ISA 700) is a reference model for several independent auditors. The purpose of this paper is to examine the understandability of the illustrations provided by ISA 700 in terms of the structural features of international auditors’ reports. The paper discusses the compliance level of international auditors’ reports with the linguistic rules and the implications for users of financial statements. It provides new empirical evidence about the linguistic features of international illustrations provided by the ISA 700 and legibility of auditing results. The measurement of the understandability of unmodified reports is performed in terms of the linguistic characteristics of standardized reports wording. The empirical results show that the standardized illustrations are not fully understandable by users of financial statements. The illustrations of international auditors’ reports are not compliant with several linguistic rules.
© 2016 IUP. All Rights Reserved.
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