Timeliness of Financial Reporting by Cooperatives in Malaysia
DOI:
https://doi.org/10.52962/ipjaf.2023.7.2.147Keywords:
Timeliness, Financial Reporting, Cooperative Sector, MalaysiaAbstract
The main focus of the National Co-operative Policy (NCP) 2011-2020 is to ensure that the co-operative movement in Malaysia complies with the co-operative legislation. The main vision of the Malaysian Cooperative Policy 2030 is to make cooperatives the main catalyst for Malaysia's socio-economic growth. This study aims to determine the timeliness of the annual financial reporting published by the cooperative sector in Malaysia and examine the relationship between the characteristics of cooperative variables and the level of timeliness of financial reporting achieved by the sample. The characteristics of the cooperative variables tested were profitability ratio, type of business, and age. The study used secondary data sources obtained from cooperative audited financial reports. The data obtained were analyzed using multivariate regression analysis. The results showed that the cooperatives' annual financial reporting timeliness was only 84.1%. The profitability ratio variable has a significant relationship with the timeliness of financial reporting at a 95% confidence level. In contrast, other variables were found to have no relationship with the level of timeliness of cooperative financial reporting. This study's results support previous studies' findings that found a relationship between some of the characteristics of the cooperative variables and the level of timeliness of its annual financial reporting.
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