Risk on financial reportingInsights from the research

Resumen

This paper examines the importance of risk on financial reporting through an analysis of the business environment as well as the literature review. The impact of risk on financial information is a trendy topic for many firms’ stakeholders: for investors as relevance for their decision making process, for companies as preserving their value in terms of going concern and reputation; for regulators as responsible of oversight the well market operation and for external auditors as providers of the most level of assurance over financial reporting. Our study carries out a revision of the literature in depth to know what areas are more interesting to study and cover and which ones are already developed in the financial reporting research. The results highlight that the most interesting areas of research are those linking the risk in financial reporting either with performance as well as with audit opinion. Thus, our results confirm a room for future research in the light of new regulation in the accounting and auditing standards.