| Budget Amount *help |
¥4,420,000 (Direct Cost: ¥3,400,000、Indirect Cost: ¥1,020,000)
Fiscal Year 2019: ¥910,000 (Direct Cost: ¥700,000、Indirect Cost: ¥210,000)
Fiscal Year 2018: ¥1,040,000 (Direct Cost: ¥800,000、Indirect Cost: ¥240,000)
Fiscal Year 2017: ¥2,470,000 (Direct Cost: ¥1,900,000、Indirect Cost: ¥570,000)
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| Outline of Final Research Achievements |
This research compares management and auditor going concern risk disclosures. It exploits a unique regulatory change in Japan that impacted the going concern risk disclosure practice. Prior to 2009, managers were directed to make financial statement note disclosures if they considered there was substantial doubt about the going concern status. The note disclosures were required to be audited. After 2009, substantial doubt disclosures by management are not audited and can be considered voluntary. We test whether going concern risk disclosure is enhanced by requiring managers rather than auditors to make the disclosure voluntarily. Analysis shows increased overall levels of going concern risk disclosure after the 2009 regulatory change, which is substantially attributable to voluntary disclosure in the Business Risk section of annual reports.
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