Papers by Madeleine Stiglingh
Social Science Research Network, Aug 20, 2019
We investigate whether the comparability of financial statements changes after a switch from Inte... more We investigate whether the comparability of financial statements changes after a switch from International Financial Reporting Standards (IFRS) in substance (i.e., content of IFRS) to IFRS in both substance and form (i.e., IFRS as issued by the IASB). While the substance of the accounting standards remains the same, form is added to the adoption in that it is now formally referred to as “IFRS as issued by the IASB.” We use data from South Africa, a country whose local generally accepted accounting practices (GAAP) was the same, word-for-word, as IFRS prior to the adoption of IFRS as issued by the IASB in 2005. We compare South African firms with firms in other countries, divided into two groups: mandatory IFRS adopters and non-adopters. We find evidence of increased comparability of financial statements of South African firms with both adopters and non-adopters. Furthermore, we find a global increase in the comparability of firms’ financial statements, consistent with market changes unrelated to IFRS adoption. However, an incremental increase in the comparability of financial statements of South African firms with the adoption of IFRS relative to non-adopting firms is consistent with benefits from South Africa’s addition of form to its existing in-substance adoption of IFRS. This increased comparability is also consistent with the benefits observed in the accounting amounts of firms from other adopting countries becoming more comparable with those of South African firms.
Meditari : Research Journal of the School of Accounting Sciences, Oct 1, 2006
According to AC 501, Accounting for 'Secondary Tax on Companies (STC)', a deferred tax asset for ... more According to AC 501, Accounting for 'Secondary Tax on Companies (STC)', a deferred tax asset for unused STC credits is recognised if it is probable that an entity will declare dividends against which unused STC credits can be used. This study examined the dividend declaration profile of companies recognising a deferred tax asset for unused STC credits to satisfy AC 501. In a literature review, the term 'probable' was analysed, showing that future dividend declarations are only regarded as 'probable' if their likelihood is 64% to 79%. A survey revealed that 45% of the surveyed companies with unused STC credits recognised a deferred tax asset for unused STC credits in their 2004 financial statements, and therefore believed they had satisfied the probability recognition criterion in AC 501. The survey also showed that companies that recognised a deferred tax asset have a dividend policy shareholders are familiar with, and most declare dividends annually. These two indicators can help assess the probability of future dividend declarations.
SA journal of accounting research, 2006
generally requires taxes to be measured at the rate applicable to distributed profits, while Inte... more generally requires taxes to be measured at the rate applicable to distributed profits, while International Financia1Reporting Standards ("IFRS") requires the undistributed rate to be used. This current conflict between US GAAP and IFRS has particular relevance in South Africa, which has a dual tax' system as a result of Secondary Tax on Companies ("STC") being levied when a company distributes its profits. Currently, under US GAAP, South African companies would be required to raise a liability for the tax that would become payable' on the future distribution of profits, while under IFRS, this is only recognised when the profits are distributed. The objective of the study is, therefore, to consider the timing of the recognition of a liability for STC. The literature study has indicated strong arguments for both the recognition of a inability for STC prior to the declaration of a dividend and the non-recognition of a liability for STC prior to the dec1aration of a dividend. The empirical study, however, concluded that the recognition of ability prior to the declaration of a dividend is not appropriate, as a majority of the respondents believe that no "past event" has occurred and therefore the definition of a liability in terms of the IASB Framework is not satisfied. The results of the empirical study, however, also indicate that if the "past event" hurdle could be overcome, uncertainty exists as to whether the recognition of a liability for STC prior to the declaration is appropriate. This is as a result of mixed opinions among the respondents as to whether the "probability" and "measurability" criteria, in terms of the IASB Framework, could be satisfied prior to the declaration of a dividend.
asb.unsw.edu.au
This study is part of an international research project (across four countries) which is evaluati... more This study is part of an international research project (across four countries) which is evaluating and comparing tax compliance costs affecting the small business sector. The primary objective of this empirical study was to measure the tax compliance costs of small businesses in South Africa and to establish a baseline against which future studies and enhancements to the tax system could be measured. The study also differentiated tax compliance activities from core accounting activities in order to identify the managerial benefits of tax compliance. It also investigated whether various South African small business tax concessions are perceived to be achieving their objective of relieving the tax compliance burden. The study, conducted by means of an electronic survey, provided plausible estimates proving that tax compliance costs as well as core accounting costs are regressive with respect to business size, with the compliance burden being heavier for smaller businesses. The perception that managerial benefits exist was also established for the first time in South Africa. Overall, small business tax concessions were perceived as being more complex than useful. A re-evaluation of these concessions or the introduction of a truly simplified tax system for small businesses is considered desirable.
South African Journal of Accounting Research, 2016
Small businesses tend to rely on external service providers (tax practitioners, accountants, lawy... more Small businesses tend to rely on external service providers (tax practitioners, accountants, lawyers and bookkeepers) for assistance with their tax affairs. Payments to external service providers clearly affect a small business’s tax compliance costs. This study uses multiple regression analyses to investigate the key drivers of small business external tax compliance costs. This will assist Revenue Services in understanding what factors (determinants) could increase a small business’s external tax compliance costs and might assist in managing tax compliance behaviour and contribution. Overall, the results show that although the legal form, age, use of small business tax concessions, level of education of the respondents and the type of accounting system used are statistically significant determinants of external tax compliance costs, turnover is the greatest determinant. The results also indicate that external tax compliance costs are regressive in relation to the size of a business, confirming previous research findings in this arena.
LexisNexis Butterworths, 2003
Please help us populate SUNScholar with the post print version of this article. It can be e-maile... more Please help us populate SUNScholar with the post print version of this article. It can be e-mailed to: [email protected] En BestuurswetenskappeRekeningkund
Please help us populate SUNScholar with the post print version of this article. It can be e-maile... more Please help us populate SUNScholar with the post print version of this article. It can be e-mailed to: [email protected] En BestuurswetenskappeRekeningkund
Please help us populate SUNScholar with the post print version of this article. It can be e-maile... more Please help us populate SUNScholar with the post print version of this article. It can be e-mailed to: [email protected] En BestuurswetenskappeRekeningkund
Journal of Public Administration, 2008
INTRODUCTION alls for businesses to pay attention to the quality of the service they deliver to t... more INTRODUCTION alls for businesses to pay attention to the quality of the service they deliver to their customers have increased over the past few decades and as the community's expectations of service from private-sector organisations have increased, so have their expectations of the service provided by the public sector (Dhillon & Bouwer 2005:2; Schneider & White 2004:1). As far as the public sector is concerned, revenue agencies worldwide have, since the start of the 21 st century, typically been the first to redefine the relationship between the government and taxpayers (Stoke, Regan & Stauffer 2005:1). Revenue agencies began to concentrate on improving external aspects, such as their relationship with clients and the service they provide for them (Rettie 2005:1
Public Relations Review, 2014
Critical incidence technique applied in revenue agency setting Service quality determinants i... more Critical incidence technique applied in revenue agency setting Service quality determinants identified as perceived by tax practitioners Revenue agency service quality framework in South African context Qualitative validation of SERVQUAL in revenue agency setting The objective of the present research was to propose a service quality framework regarding the service quality of the South African Revenue Service (SARS) from the perspective of the tax practitioner. In order to develop the specific "lens of the tax practitioner" regarding the service quality of SARS, an in-depth, qualitative approach was required to identify a comprehensive range of determinants that potentially drive service quality in the revenue service industry and setting. One such qualitative method is the critical incident technique, which relies on a set of procedures to collect comments on service experiences, to perform a content analysis and to classify the observations of service experiences. A process of natural language argument was used to convert the data analysis results and the relevant elements of the theory from the literature survey into the service determinants. This "lens of the tax practitioner" can be used as a basis for developing a service quality measuring instrument that could measure the service quality of SARS from the perspective of the tax practitioner.
The International Journal of Accounting, 2021
We investigate whether the comparability of financial statements changes after a switch from Inte... more We investigate whether the comparability of financial statements changes after a switch from International Financial Reporting Standards (IFRS) in substance (i.e., content of IFRS) to IFRS in both substance and form (i.e., IFRS as issued by the IASB). While the substance of the accounting standards remains the same, form is added to the adoption in that it is now formally referred to as “IFRS as issued by the IASB.” We use data from South Africa, a country whose local generally accepted accounting practices (GAAP) was the same, word-for-word, as IFRS prior to the adoption of IFRS as issued by the IASB in 2005. We compare South African firms with firms in other countries, divided into two groups: mandatory IFRS adopters and non-adopters. We find evidence of increased comparability of financial statements of South African firms with both adopters and non-adopters. Furthermore, we find a global increase in the comparability of firms’ financial statements, consistent with market changes...
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Papers by Madeleine Stiglingh