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State Mandated Accounting, Auditing and Finance Practices and Municipal Bond Ratings
Author(s) -
Ingram Robert W.,
Copeland Ronald M.
Publication year - 1982
Publication title -
public budgeting and finance
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.694
H-Index - 30
eISSN - 1540-5850
pISSN - 0275-1100
DOI - 10.1111/1540-5850.00546
Subject(s) - municipal bond , audit , bond , business , accounting , jurisdiction , state (computer science) , finance , intermediary , bond market , bond credit rating , law , credit risk , political science , credit reference , computer science , algorithm
The accounting, auditing, and finance practices of municipal governments often are legally constrained by regulations imposed by state governments under whose jurisdiction cities are created. These practices may impact on municipal security risks and returns, either directly in the bond market or indirectly through such market intermediaries as bond rating agencies. The purpose of this article is to assess the impact of state mandates on municipal bond ratings.