Financial Reporting and Corporate Governance in Developing Countries: A literature Review
Barghouthi, Orobah Ali
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Transparency is one of those terms that have many facets. It is used in different ways. It can refer to the openness of governmental functions. It can also refer to a country’s economy. Or it can refer to various aspects of corporate governance and financial reporting. The Organisation for Economic Co-operation and Development (OECD, 1998) lists transparency as one element of good corporate governance. Kulzick (2004) and others (Blanchet, 2002; Prickett, 2002) view transparency from a user perspective. According to their view, transparency includes the following eight concepts: accuracy, consistency, appropriateness, completeness, clarity, time- liness, convenience, and governance and enforcement. This paper focuses on just one aspect of transparency – timeliness.