Technological Disruption in Accounting and Auditing

P resident Trump has just requested the SEC to consider half-year filings, a movement that could revert a very slow series of increased disclosures promulgated since the Securities Act of 1933 and 1934. Such a change in regulation, within the scope of the SEC’s power, is argued for in the spirit of decreasing regulation and overhead for U.S. firms. The request immediately created controversies, as timelier financial reporting and better transparency are argued for the health of capital market, particularly when technology is disrupting and changing the dynamics toward more frequent trading, information processing, and financial reporting. For instance, Zhang, Pei, and Vasarhelyi (2017) argue that:

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