Title: Disclosure patterns in derivatives reporting by UK firms: implications for corporate governance

Authors: Theresa Dunne, Alison Fox, Christine Helliar

Addresses: School of Accounting & Finance, University of Dundee, Dundee, DD1 4HN, UK. ' School of Accounting & Finance, University of Dundee, Dundee, DD1 4HN, UK. ' School of Accounting & Finance, University of Dundee, Dundee, DD1 4HN, UK

Abstract: This paper provides a description of an empirical investigation into the disclosure of information concerning the use of derivatives and other financial instruments in corporate annual reports of UK firms following the introduction of Financial Reporting Standard 13 (FRS 13) |Derivatives and other financial instruments – disclosures|. The results indicate that the implementation of this standard was associated with a substantial increase in derivatives-related information available in corporate annual reports. It is argued that this increase in disclosure has implications for the corporate governance and internal control mechanisms of the reporting companies.

Keywords: corporate governance; derivatives reporting; disclosure patterns; FRS 13; financial reporting standards; internal control; UK; United Kingdom.

DOI: 10.1504/IJAAPE.2007.016279

International Journal of Accounting, Auditing and Performance Evaluation, 2007 Vol.4 No.3, pp.231 - 247

Available online: 15 Dec 2007 *

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