Ball (2009) discusses the recent accounting scandals and how important our accounting system is to financial markets. What is the economic role of financial reporting? Why is our understanding of financial reporting and its effect on markets important? What are the costs and benefits of the Sarbanes-Oxley Act, according to Ball.

Answer rating: 100% (QA)

The economic role of financial reporting is to provide transparent accurate and timely information about a companys financial performance and position ... View the full answer