Accounting Governance Practices and Financial Reporting Quality: An Empirical Investigating of Listed Firms in Thailand
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Abstract
This research aimed to investigate; 1) the effects of accounting governance practices (accounting analysis management, best accounting practices, accounting control orientation, accounting compliance focus, and accounting risk forecasting) on financial reporting quality; 2) the effect of long-term organizational vision, corporate social responsibility, best accounting experience, stakeholder requirements, and environmental pressure on accounting governance practices; 3) the moderating effect of sustainability culture on the relationships between long-term organizational vision, corporate social responsibility, best accounting practices, stakeholder requirements, environmental pressure and accounting governance practices. Data were collected via a questionnaire from 171 listed firms in Thailand and analyzed using descriptive statistics, content analysis, and statistical regression. The research results were as follows: accounting governance practices have a significant effect on financial reporting quality. In addition, corporate social responsibility has a significant effect on all dimensions of accounting governance practices. Long-term organizational vision and environmental pressure have a significant effect on accounting risk forecasting. Best accounting experience and stakeholder requirements have a significant effect on best accounting practices and accounting control orientation. Stakeholder requirements have a significant effect on accounting analysis and management. Next, sustainability culture moderates the relationship between corporate social responsibility, stakeholder requirements, environmental pressure, and all dimensions of accounting governance practices. Sustainability culture moderates the relationship between the best accounting experience and accounting analysis management, accounting compliance focus, and accounting risk forecasting. Sustainability culture moderates the relationship between long-term organizational vision and accounting compliance focus. The implementation of corporate processes that fulfill financial reporting standards will be improved for non-stock market firms through the study of accounting governance practices. Accounting governance practices have developed into the standards that businesses adopt in their accounting procedures to support regular activities and practices. The implementation of accounting governance procedures is considered a crucial instrument for improving, achieving, and maintaining long-term performance.
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