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Compliance with consolidation (group) accounting standards - the vertical adjustment issue: A survey of Swedish multinationals
Linköping University.
Åbo Akademi University, Turku, Finland.
Bilkent University, Faculty of Management, Ankara, Turkey.
2007 (English)In: Journal for Global Business Advancement, ISSN 1746-966X, Vol. 1, no 1, 37-48 p.Article in journal (Refereed) Published
Abstract [en]

Previous research into consolidated financial reporting of multinational companies has focused on horizontal adjustments, adjustments at the headquarters level to comply with accounting standards of the country where a stock exchange listing is made, e.g. US GAAP, or IFRS. An equally, if not more, important issue is vertical adjustments made by foreign subsidiaries when information is transmitted to the headquarters for consolidation. This study surveys all Swedish multinational companies listed on the Stockholm Stock Exchange, firstly in the early 1990s and again some 10 years later to determine whether vertical adjustments were made as an indicator of compliance with Swedish accounting standards. The results indicate that while most Swedish multinational companies made vertical adjustments, the large number that did not indicates a potentially high degree of non-compliance with accounting standards. In all cases, though, the companies claimed they had complied and their auditors concurred.

Place, publisher, year, edition, pages
2007. Vol. 1, no 1, 37-48 p.
Keyword [en]
accounting standards compliance, consolidated financial reporting, group accounting, multinationals, subsidiary reporting, vertical adjustments, Sweden, MNCs, foreign subsidiaries
National Category
Economics and Business
URN: urn:nbn:se:umu:diva-16331DOI: 10.1504/JGBA.2007.012548OAI: diva2:156004
Available from: 2007-09-11 Created: 2007-09-11 Last updated: 2012-08-20Bibliographically approved

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Hassel, Lars
Economics and Business

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