This study aims to contribute to the ongoing debate over accounting conservatism through examining whether the corporate strategy can provide a logical justification for the conservatism, and whether this justification is consistent with or contradicts the contractual justification. In this context, the study examines the impact of corporate strategy on the level of conservatism in financial statements, and the impact of the level of conservatism on corporate investment level. Using data from a sample of non-financial Saudi listed companies, the results show that prospector companies are more likely to provide more conservative financial statements, and the level of conservatism influences investment level. The results also show that the integration between corporate strategy and the level of conservatism influence the level of investment. These results suggest that accounting conservatism can be explained in the context of both business strategy and contractual benefits. Also, the results imply that adopting business strategy could influence the financial reporting process.

This study aims to explore whether or not social responsibility disclosure contributes to improve the financial information environment, through examining the impact of quantity and quality of corporate social responsibility (CSR) disclosure on the accuracy of analysts' forecasts and audit fees. Content analysis technique has been used to measure quantity and quality of CSR disclosure in annual reports of Saudi registered companies. OLS regression model is used to examine the relationship between the quantity and quality of CSR disclosure in the annual reports and the quality of the analysts' forecasts, and the audit fees. The results indicated that CSR disclosure provides useful information for outsiders, where it is associated with more accurate analysts’ expectations and reduced audit fees. These results suggest that CSR disclosure is associated with high quality financial information environment. This paper provides comprehensive analysis for financial information environment in Saudi companies. The findings of paper provide useful insights concerning the importance of social responsibility disclosure in Saudi business environment.

This paper aims to examine the effect of audit committee characteristics on audit report lag, and also explores whether this effect will vary between before and after mandatory adoption of IFRS in Saudi listed companies. Based on a Saudi sample of 388 firm-year observations from 2015 to 2018, the Poisson regression analysis shows that among audit committee characteristics, only audit committee financial experience significantly influences the timing of financial reporting. The result indicates a weak influence of audit committees on timeliness of financial reporting, which is consistent with the results of most of previous studies. On the other hand, the results show a strong impact of the adoption of IFRS on the context of that relationship, where the results show the impact of IFRS on audit report lag, audit committee quality and the association between them.