Over the past four decades,
timeliness literature has found an established position in financial accounting researches. There are two dimensions to the concept of timeliness in financial reporting: the frequency of financial reporting and the distance between the end of the financial period and publishing date of the financial statements (Davies and Whittred, 1980). It is argued that less delay in disclosing the information would result in improving the feature of reporting timeliness. According to the executive introductions on disclosing registered companies’ information to the Tehran Stock Exchange, publishers should provide and disclose audited annual financial statements of the main company and consolidated report, at least ten days before general assembly and at most four months after the end of the year