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A study on audit report timeliness: The Macedonian Stock Exchange

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  • Srbinoska Dusica Stevcevska

    (University American College Skopje, School of Business Economics and Management, Skopje, North Macedonia)

  • Srbinoski Igor

    (University American College Skopje, School of Business Economics and Management, Skopje, North Macedonia)

Abstract

Financial statements reflect important information about the entity's financial position, operating performance, and cash flows and must be made available in a timely fashion to all interested factions to stimulate opportune business judgments. Ergo, this paper examines the association of the audited annual report delay with eight entity and audit firm attributes. The sample includes 396 observations of 99 nonfinancial firms listed on the Macedonian Stock Exchange (MSE) for the period 2014–2017. The regression results designate a statistically significant relationship between the audit opinion, company liquidity, size, and industry with the audit opinion lag. Moreover, the publication period ranges from 43 days to 374 days suggesting that timeliness may be a significant concern for Macedonian entities regarding financial reporting policy. This is the first study to thoroughly assess the relationship between entity, auditor characteristics, and audit report timeliness on the developing Macedonian market.

Suggested Citation

  • Srbinoska Dusica Stevcevska & Srbinoski Igor, 2021. "A study on audit report timeliness: The Macedonian Stock Exchange," International Journal of Management and Economics, Warsaw School of Economics, Collegium of World Economy, vol. 57(3), pages 234-254, September.
    • Handle: RePEc:vrs:ijomae:v:57:y:2021:i:3:p:234-254:n:5
    DOI: 10.2478/ijme-2021-0015
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    References listed on IDEAS

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    More about this item

    Keywords

    audit opinion; annual reports; company size; financial indicators; Macedonian Stock Exchange; timeliness;
    All these keywords.

    JEL classification:

    • M41 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - Accounting
    • M42 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - Auditing

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