IMPLICATIONS FOR FINANCIAL STATEMENT USERS AND MANAGERS

Financial statement users need to expect wide variation in disclosure levels and monetary reporting practices. While managers in many firms continue to become strongly influenced by the costs of disclosing proprietary facts, the levels of each mandatory and voluntary disclosure are escalating worldwide. Managers in traditionally low-disclosure countries should think about regardless of whether adopting a policy of enhanced disclosure may offer significant positive aspects for their firms. In addition, managers who make a decision to give enhanced disclosures in locations investors and analysts think about crucial, like segment and governance disclosures, might acquire a competitive benefit more than firms with restrictive disclosure policies. Further study in the expenses and positive aspects of enhanced disclosure in international settings need to supply vital evidence in this location.