Financial Reporting Lags in the Non-profit Sector: An Empirical Analysis

Anne‐Mie Reheul · Tom Van Caneghem · Sandra Verbruggen

48 citations0/0 files storedVOLUNTAS International Journal of Voluntary and Nonprofit Organizations

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Auditing, Earnings Management, Governance Nonprofit Sector and Volunteering Financial Reporting and XBRL

Abstract

Abstract We examine financial reporting lags among a large sample of Belgian non-profit organizations (NPOs). Doing so, we add to the literature on financial reporting and accountability in the non-profit sector. Next to drivers of the financial reporting lag that have been identified in prior studies based on private firms (e.g., delaying the disclosure of bad news), we find that the way of funding the NPO (i.e., reliance upon donations and/or grants) and its specific area of activity are significantly related to the financial reporting lag. Our results also suggest that important changes in accounting regulation significantly delay the financial reporting process. Importantly, we note that 17.2 % of the sample organizations do not file their financial statements within the legal time span.

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References

1976Theory of the firm: Managerial behavior, agency costs and ownership structure 2011External Control of Organizations: Resource Dependence Perspective 1979The External Control of Organizations: A Resource Dependence Perspective 1983Discretionary disclosure 2007The Nonprofit sector: a research handbook 2001Strategic Performance Measurement and Management in Nonprofit Organizations 1984Timeliness of Reporting and the Stock Price Reaction to Earnings Announcements 2001Additional Evidence on Audit Report Lag

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2020Social impact and performance measurement systems in an Italian social enterprise: a participatory action research project 2017Factors Influencing Voluntary Disclosure in the Annual Reports of Portuguese Foundations 2018Should NPOs Follow International Standards for Financial Reporting? A Multinational Study of Views

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