Forthcoming and Online First Articles

African Journal of Accounting, Auditing and Finance

African Journal of Accounting, Auditing and Finance (AJAAF)

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African J. of Accounting, Auditing and Finance (5 papers in press)

Regular Issues

  • Audit quality: external auditors' perceptions: evidence from Tunisia   Order a copy of this article
    by Aida Krichene, Emna Baklouti 
    Abstract: The objective of external audit is to improve the efficiency and profitability of a company and to ensure that the financial information disclosed by the company is free from anomalies. The objective of this paper is to examine the factors that have an impact on the audit quality in Tunisia. A questionnaire study is conducted with 66 external auditors. The results show that the external auditors in Tunisia give a lot of importance to the auditor's competence, independence and the firms image on the market as factors that affect the quality of external audit. On the other hand, the size of the audit firm, the quality of internal audit, the nature of the relationship between the auditor and the client do not influence the audit quality in the Tunisian context.
    Keywords: audit quality; auditor independence; auditor competence; audit firm reputation; internal audit effectiveness; exploratory study; Tunisia.
    DOI: 10.1504/AJAAF.2021.10042393
  • The value relevance of intellectual capital voluntary disclosure: the case of Tunisia   Order a copy of this article
    by Salma Loulou-Baklouti 
    Abstract: The purpose of this paper is to examine the value relevance of intellectual capital (IC) voluntary disclosure. The statistical analysis is conducted on a sample of 54 Tunisian non-financial listed companies over the period 2008-2019. A weighted disclosure index is constructed to measure IC disclosure. Descriptive statistics and multiple regression models on panel data are developed to analyse data. Results show that IC voluntary disclosure is value relevant. It represents an important determinant of the firms market valuation. These findings have several implications for investors, managers, regulatory bodies and any other interested group as they report on the value relevance of IC disclosure and its economic consequences. By adopting a methodology to control for the endogeneity of IC disclosure, and a weighted disclosure index based on stakeholders' perception, this paper can be regarded as the first empirical study to examine the association between such disclosure and market value in Tunisia.
    Keywords: intellectual capital; intellectual capital voluntary disclosure; value relevance; Tunisia.
    DOI: 10.1504/AJAAF.2022.10046461
  • The outbreak of COVID-19 pandemic and its impact on volatility of Indian stock market: evidence from top 10 stocks of Bombay Stock Exchange   Order a copy of this article
    by Vikram ., Debasis Mohanty, Archa Agrawal 
    Abstract: This study estimates the influence of COVID-19 on the volatility of the top 10 companies of the Indian stock market. For the purpose of estimation, daily return series of these companies have been examined for a period of five years from May 2016 to May 2021. COVID-19 as variance exogenous in the GARCH (1, 1) model was employed. The time period is divided into three phases, pre-COVID (2016-2019), first phase of COVID (2020), and the second phase (2021). The results reveal that there has been a significant impact of COVID-19 on the volatility of the companies. HDFC Bank has considered being the most volatile of all. Whereas, Infosys is considered the least volatile of all, taking only three days to die out the change. The study can be of most relevant to portfolio managers and financial analyst to make an informed decision regarding the diversification of their portfolio.
    Keywords: COVID-19; volatility; capitalisation; GARCH; stock exchange.
    DOI: 10.1504/AJAAF.2022.10046579
  • Effects of firms' liquidity on non-performing loans of deposit taking SACCO's in Kenya   Order a copy of this article
    by Nehemiah Mbatia, Fred Sporta 
    Abstract: Non-performing loans is a problem facing many deposit taking SACCOS in Kenya and this if problem is not mitigated will root collapsing of the financial institutions which are of great benefit in financial deepening of a country. Liquidity, as characteristic related to deposit taking SACCOS was analysed to determine at what extent it influences level of NPLs. The period of the study was six years, from 2012 to 2017. The data used was derived from financial statements which are submitted by DT-SACCOs to SASRA offices whereby a total of 119 deposits taking SACCOs was used as the target population of the study. The study recommended level of liquidity level should be adhered to and this will help to control level of non-performing loans.
    Keywords: non-performing loans; deposit taking SACCOs; Kenya.
    DOI: 10.1504/AJAAF.2022.10047031
  • An exploratory study of practices of management accounting in micro, small and medium size enterprises in Cameroon   Order a copy of this article
    by Fai Edward Berinyuy, Alexis Ngantchou, Rene Guy Omenguele 
    Abstract: The objective of this study is to examine the use of practices of management accounting (PMA) in Cameroon MSMEs. The content analysis of 22 semi-structured interviews conducted with MSMEs management staff shows that medium size firms make greater PMA as opposed to small and very small (micro) enterprises (VSEs). The results further indicate that manufacturing enterprises apply PMA more than service and merchandise firms do. In addition, the adoption of PMA is minimal in use by VSEs. PMA identified in MSMEs in Cameroon are grouped as costing, budgeting, methods of performance evaluation, decision support system, strategic management accounting (MA) and MA functions. The study suggests that there is sufficient room to increase both awareness of and understanding of the importance of PMA within smaller firms since these practices are vital ingredients in the success of any organisation. In conclusion, MSMEs in Cameroon make use of more traditional PMA than modern practices.
    Keywords: management accounting; practices of management accounting; PMA; micro; small and medium size enterprises; MSMEs; Cameroon; manufacturing; service and merchandise enterprises.
    DOI: 10.1504/AJAAF.2022.10047560