High Quality Financial Reporting

This study investigates, firstly, the meaning of the phrase ¿high quality financial reporting¿. The use of the phrase in the academic literature is examined. The origins of the phrase are sought after. Its introduction by a professional body and its gradual adoption by a major regulatory body and a major standard setting body are noted. Its use by organizations around the world is critically evaluated. The first aim of the thesis is to contribute to a deeper understanding of the phrase ¿high quality financial reporting¿. This study also examines disclosure in the annual reports and in the interim financial statements of all 47 companies listed on this emerging African capital market three years after the World Bank carried out its assessment of Kenyan accounting. The aim is to see whether disclosure in the financial reporting of these companies can be described as ¿high quality¿.