Journal articles on the topic 'Committee Member Characteristics'
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Ni Made Dwi Ratnadi, I. Nyoman Wijana Asmara Putra,. "Institutional Ownership, Characteristics of the Audit Committee and Information Power Earnings." Jurnal Akuntansi 22, no. 3 (November 7, 2018): 405. http://dx.doi.org/10.24912/ja.v22i3.396.
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The objective of this research to test the effect of institusional ownership and committee audit characteristic on the informativeness of earnings. Especially this research to test the non-banking institusional ownership, banking institusional ownership, independent commissioner as the member of audit committee, competence a member audit commitee in accounting and financial, and frequency of meeting held by audit committee. The data is taken from secondary sourced from the Indonesian Stock Exchange. Data were analyzed using multiple regression. The result indicates that, the non-banking institutional ownership, and shareholding by banks positive effect on the informativeness of earnings. Competence audit committee members in the fields of accounting and finance, and frequency of meetings held positive effect on informativeness of earnings. However, the proportion of independent directors on the audit committee does not affect to the earnings informativeness.
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Price, Jean B., and Nancy Lankton. "A Framework and Guidelines for Assessing and Developing Board-Level Information Technology Committee Charters." Journal of Information Systems 32, no. 1 (January 1, 2017): 109–29. http://dx.doi.org/10.2308/isys-51674.
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ABSTRACT IT governance is important to the success of most business enterprises. One form of IT governance is the use of board-level IT committees. This study examines committee charters, which are the basic foundation for an effective committee. Based on prior literature and theory, we develop a framework and six propositions for assessing IT committee charter components including committee characteristics, member characteristics, and roles and responsibilities. We test the propositions by exploring the IT committee charters and information from other sources for 23 Fortune 500 companies. We find that most IT committees have more members and meet more often than required by the charter. All but one committee has at least one member with IT expertise as defined in our study. Also, most roles and responsibilities are focused on the five IT governance focus areas prescribed by the Information Technology Governance Institute. However, the roles are not consistently specified in all charters. Suggestions for future research and guidelines for practice are provided.
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Braswell, Mike, Roger B. Daniels, Mark Landis, and Chun-Chia (Amy) Chang. "Characteristics Of Diligent Audit Committees." Journal of Business & Economics Research (JBER) 10, no. 4 (March 23, 2012): 191. http://dx.doi.org/10.19030/jber.v10i4.6895.
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The mounting attention given to audit committees following a series of corporate financial reporting failures has resulted in numerous provisions within Sarbanes Oxley Act (SOX hereafter) of 2002. The SOX addresses aspects of the audit committee, including its authority and composition characteristics, but the requirement for minimum meeting frequency for the audit committee member was absent from the final SOX provision despite the recommendations of regulators. Since audit committee activity, or degree of audit committee diligence, is determined by the audit committee itself, we investigate various firm-level and governance attributes that likely influence audit committees choice to meet more often than anticipated. After analyzing a sample of 2,715 firm-year observations spanning fiscal years 1998-2003, we find that audit committee diligence is positively associated with audit committee attributes such as financial expertise, but negatively association with audit committee tenure, suggesting that efficiency gains are enjoyed by audit committees as they become more familiar with firm-specific reporting issues. We also document positive associations between audit committee diligence and both governance and agency cost variables. Finally, we document a significant increase in audit committee diligence in the years following the implementation of the SOX 2002 provisions.
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Abbott, Lawrence J., Susan Parker, and Gary F. Peters. "Audit Committee Characteristics and Restatements." AUDITING: A Journal of Practice & Theory 23, no. 1 (March 1, 2004): 69–87. http://dx.doi.org/10.2308/aud.2004.23.1.69.
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This study addresses the impact of certain audit committee characteristics identified by the Blue Ribbon Committee on Improving the Effectiveness of Corporate Audit Committees (BRC) on the likelihood of financial restatement. We examine 88 restatements of annual results (without allegations of fraud) in the period 1991–1999, together with a matched pairs control group of firms of similar size, exchange listing, industry and auditor type. We find that the independence and activity level (our proxy for audit committee diligence) of the audit committee exhibit a significant and negative association with the occurrence of restatement. We also document a significant negative association between an audit committee that includes at least one member with financial expertise and restatement. To test the robustness of the results we also consider a sample of 44 fraud and no-fraud firms and arrive at largely similar findings. Our results underscore the importance of the BRC's recommendations as a means of strengthening the monitoring and oversight role that the audit committee plays in the financial reporting process.
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Al-Absy, Mujeeb Saif Mohsen, Ku Nor Izah Ku Ismail, and Sitraselvi Chandren. "Audit committee chairman characteristics and earnings management." Asia-Pacific Journal of Business Administration 11, no. 4 (October 7, 2019): 339–70. http://dx.doi.org/10.1108/apjba-10-2018-0188.
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Purpose The purpose of this paper is to examine the influence of the characteristics of audit committee chairman (ACC) (tenure, age, gender, ethnicity, accounting expertise and directorship) on earnings management (EM) practices. Design/methodology/approach The Jones model and modified Jones model by Dechow et al. (1995) were used to determine the discretionary accruals (DA) of 288 Malaysian listed firms with lowest positive earnings for the years 2013‒2015. Findings The results of the ordinary least squares regression indicate that only tenure, gender and ethnicity of the ACC are associated with DA. A further test was conducted by dividing firms into two groups: firms whose boards are chaired by a family member and firms whose boards are chaired by a non-family member. The results reveal that it is possible for firms whose boards are chaired by family members to cause the corporate governance (CG) mechanisms, particularly the audit committee, to lose their effectiveness in overcoming the EM problem. In addition, robustness tests were conducted by using panel data regression, where the results were found to be similar to the original regression results. Originality/value This study alerts policymakers, firms and their stakeholders, as well as researchers, regarding the importance of having an independent board chairman, who has no relationship with any directors or major shareholders, as this may hinder the effectiveness of CG mechanisms in curbing EM, especially in emerging countries, such as Malaysia, where it is very difficult to stop members of the family from becoming board directors.
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ERZURUMLU, YAMAN, and GURCAN AVCI. "Audit Committee Member Characteristics and Committee Effectiveness: Evidence from Turkish Banking Sector." International Journal of Monetary Economics and Finance 13, no. 5 (2020): 1. http://dx.doi.org/10.1504/ijmef.2020.10030104.
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Erzurumlu, Yaman, and Gurcan Avci. "Audit committee member characteristics and committee effectiveness: evidence from Turkish banking sector." International Journal of Monetary Economics and Finance 13, no. 4 (2020): 341. http://dx.doi.org/10.1504/ijmef.2020.109996.
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Abbott, Lawrence J., Susan Parker, Gary F. Peters, and K. Raghunandan. "The Association between Audit Committee Characteristics and Audit Fees." AUDITING: A Journal of Practice & Theory 22, no. 2 (September 1, 2003): 17–32. http://dx.doi.org/10.2308/aud.2003.22.2.17.
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This study examines the association between audit committee characteristics and audit fees, using data gathered under the recent SEC fee disclosure rules. We hypothesize that audit fees will be positively associated with audit committee independence, financial expertise, and meeting frequency. We examine a sample of 492 nonregulated, Big 5-audited firms that filed proxy statements with the SEC in the period from February 5, 2001 to June 30, 2001. We find that audit committee independence (defined as an audit committee comprised entirely of outside, independent directors) and financial expertise (defined as an audit committee containing at least one member with financial expertise) are significantly, positively associated with audit fees. This is in contrast to the findings of Carcello et al. (2002a), who find that audit committee characteristics are not significant in the presence of board-related variables. Meeting frequency (defined as an audit committee that meets at least four times annually) was not associated with higher audit fees at conventional levels. This evidence is consistent with audit committees taking actions within their span of control to ensure a higher level of audit coverage.
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Qu, Charlotte Tianshu. "Board Members With Style: The Effect of Audit Committee Members and Their Personal Styles on Financial Reporting Choices." Journal of Accounting, Auditing & Finance 35, no. 3 (February 14, 2018): 530–57. http://dx.doi.org/10.1177/0148558x17752804.
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This article studies whether audit committee members and chairpersons exhibit individual-specific “styles” that affect corporate financial reporting practices. I track 2,941 audit committee members and 683 chairpersons across firms over time, and test whether member (chair)-specific factors explain firms’ accounting choices. I find that member and chairperson “style” (captured by fixed effects) is significant in explaining a firm’s probability of accounting misstatements and earnings management, and the effects are not explained away by observable member (chairperson) characteristics found by prior literature, or by the effects of CEOs or CFOs.
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Windram, Brian, and Jihe Song. "Non-executive directors and the changing nature of audit committees: Evidence from UK audit committee chairmen." Corporate Ownership and Control 1, no. 3 (2004): 108–15. http://dx.doi.org/10.22495/cocv1i3p10.
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In this paper we provide a descriptive summary of a postal survey of FT 500 UK company audit committee chairman on the operations of UK audit committees. The survey represents an “insider view” of the activities of audit committees and the characteristics of non-executive directors and contributes to the continuing debate on corporate governance reforms. In particular we report on company boards and their composition, audit committee chairman and their outside directorships, financial literacy and remuneration and various aspects of audit committee activity. Our survey shows that UK audit committees and corporate boards have undergone many changes in the last decade since the last comprehensive survey reported in Collier (1992). Our study on the current level of activity within major UK corporate audit committees deepens understanding of the roles and characteristics of non-executive directors and the operation of UK audit committees. In particular our survey shows that there is a significant shift in audit committee activities from the traditional financial reporting role to a greater focus on internal control and risk management. Independence is overwhelmingly seen as the most significant attribute of an audit committee member. Lack of time is perceived to be the greatest impediment to audit committee effectiveness but pressure from executives and an unclear remit are surprisingly prevalent problems even after ten years of corporate governance reforms.
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Sil Kang, Won, Alan Kilgore, and Sue Wright. "The effectiveness of audit committees for low‐ and mid‐cap firms." Managerial Auditing Journal 26, no. 7 (July 26, 2011): 623–50. http://dx.doi.org/10.1108/02686901111151341.
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PurposeThe purpose of this paper is to investigate the effectiveness of recommendations made by the Australian Stock Exchange (ASX) relating to audit committees in Australia, and whether they have improved financial reporting quality for low‐ and mid‐cap listed firms.Design/methodology/approachThe authors examine the relation between characteristics of the audit committee and financial reporting quality for listed companies not mandated to comply with these requirements, i.e. low‐ and mid‐cap firms. For a sample of 288 firms, the authors regress measures of audit committee independence, expertise and activity and size on alternative measures of earnings management.FindingsA significant association is found between all three characteristics and lower earnings management. The significant measure for independence is the proportion of independent directors on the audit committee; for expertise, it is that at least one member of the audit committee has an accounting qualification; and for activity and size, it is the frequency of audit committee meetings.Practical implicationsThe results provide support for the mandatory establishment of audit committees for the top 500 (high‐ and mid‐cap) firms introduced by the ASX and suggest those audit committee characteristics which could improve financial reporting quality for low‐ and mid‐cap firms.Originality/valueThe paper examines low‐ and mid‐cap firms in order to complement previous similar studies done for high‐cap firms. It identifies the effects on financial reporting quality of voluntarily choosing to have an audit committee and of the choice of audit committee characteristics, in the period after substantial corporate governance reform. It includes a new measure among audit committee characteristics, industry expertise, which is required in Australia and is new to the literature.
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Schumacher, Daniel J., Beth King, Michelle M. Barnes, Sean P. Elliott, Kathleen Gibbs, Jon F. McGreevy, Javier Gonzalez del Rey, Tanvi Sharma, Catherine Michelson, and Alan Schwartz. "Influence of Clinical Competency Committee Review Process on Summative Resident Assessment Decisions." Journal of Graduate Medical Education 10, no. 4 (August 1, 2018): 429–37. http://dx.doi.org/10.4300/jgme-d-17-00762.1.
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ABSTRACT Background Clinical Competency Committees (CCCs) are charged with making summative assessment decisions about residents. Objective We explored how review processes CCC members utilize influence their decisions regarding residents' milestone levels and supervisory roles. Methods We conducted a multisite longitudinal prospective observational cohort study at 14 pediatrics residency programs during academic year 2015–2016. Individual CCC members biannually reported characteristics of their review process and Accreditation Council for Graduate Medical Education milestone levels and recommended supervisory role categorizations assigned to residents. Relationships among characteristics of CCC member reviews, mean milestone levels, and supervisory role categorizations were analyzed using mixed-effects linear regression, reported as mean differences with 95% confidence intervals (CIs), and Bayesian mixed-effects ordinal regression, reported as odds ratios (ORs) and 95% credible intervals (CrIs). Results A total of 155 CCC members participated. Members who provided milestones or other professional development feedback after CCC meetings assigned significantly lower mean milestone levels (mean 1.4 points; CI –2.2 to –0.6; P < .001) and were significantly less likely to recommend supervisory responsibility in any setting (OR = 0.23, CrI 0.05–0.83) compared with CCC members who did not. Members recommended less supervisory responsibility when they reviewed more residents (OR = 0.96, 95% CrI 0.94–0.99) and participated in more review cycles (OR = 0.22, 95% CrI 0.07–0.63). Conclusions This study explored the association between characteristics of individual CCC member reviews and their summative assessment decisions about residents. Further study is needed to gain deeper understanding of factors influencing CCC members' summative assessment decisions.
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Baiden, John Nana Ekow. "Board Audit Committee Characteristics and Financial Performance of Selected Commercial Banks in Ghana." International Journal of Accounting and Financial Reporting 10, no. 1 (January 6, 2020): 222. http://dx.doi.org/10.5296/ijafr.v10i1.16749.
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The purpose of the study was to examine the influence of board audit committee characteristics on the financial performance of selected commercial banks in Ghana during the period of 2008 to 2017. The correlational design was employed. The study population was 23 commercial banks licensed under the Bank and Special Deposit Taking Institution Act with audit committee on their board and offices in Ghana as at December 2018. The sample size for the study was 13 commercial banks in Ghana. The lottery method of simple random sampling technique was used to select the 13 banks. The study made use of only secondary data. Statistical tools such as means, standard deviations, Pearson product moment correlation, and linear multiple regression analysis were used to analyse the data. The findings of the study revealed that when banks audit committee increase the frequency of their meetings, increase the number and quality of financial qualifications of member on board and also increase the size of the audit committee members on total board membership, it will have a significant influence on the banks’ financial performance. It was recommended to Bank of Ghana (BoG) and managers of the various commercial banks to ensure that audit committee members are independent, meaningfully represented at boards of the banks, and are people with expertise in accounting/finance.
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Prasetiyani, Paramita, and Imam Ghozali. "PENGARUH LANGSUNG DAN TIDAK LANSGUNG KARAKTERISTIK KOMITE AUDIT TERHADAP LUAS PENGUNGKAPAN CSR MELALUI MANAJEMEN RISIKO." Jurnal Ilmu Manajemen dan Akuntansi Terapan (JIMAT) 13, no. 2 (December 9, 2022): 85. http://dx.doi.org/10.36694/jimat.v13i2.426.
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This study aims to examine the effect of audit committee characteristics on CSRD in manufacturing and mining sector companies listed on the Indonesia Stock Exchange (IDX) in 2019. In addition, this study also examines whether there is an effect of risk management as a mediating variable in the relationship between audit committee characteristics and CSR disclosure. This research using purposive sampling method, which result in 178 samples. The analytical tool in this research using structural equation modeling (SEM)-PLS (Partial Least Square). The results show that the characteristics of the independent audit committee, number of member meetings, financial expertise and gender diversity have a positive effect on CSRD, while the size of the audit committee has no effect on CSRD. Indirect testing shows that risk management only affects the relationship between the number of member meetings and CSRD. Meanwhile, risk management failed to become a mediator for other variables with CSRD.
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McLaughlin, Craig, Stephen Armstrong, Maha W. Moustafa, and Ahmed A. Elamer. "Audit committee diversity and corporate scandals: evidence from the UK." International Journal of Accounting & Information Management 29, no. 5 (October 14, 2021): 734–63. http://dx.doi.org/10.1108/ijaim-01-2021-0024.
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Purpose This paper aims to empirically analyse specific characteristics of an audit committee that could be associated with the likelihood of corporate fraud/scandal/sanctions. Design/methodology/approach The sample includes all firms that were investigated by the Financial Reporting Council through the audit enforcement procedure from 2014 to 2019, and two matched no-scandal firms. It uses logistic binary regression analysis to examine the hypotheses. Findings Results based on the logit regression suggest that audit member tenure and audit committee meeting frequency both have positive associations to the likelihood of corporate scandal. Complementing this result, the authors find negative but insignificant relationships amongst audit committee female chair, audit committee female members percentage, audit committee qualified accountants members, audit committee attendance, number of shares held by audit committee members, audit committee remuneration, board tenure and the likelihood of corporate scandal across the sample. Research limitations/implications The results should help regulatory policymakers make decisions, which could be crucial to future corporate governance. Additionally, these results should be useful to investors who use corporate governance as criteria for investment decisions. Originality/value The authors extend, as well as contribute to the growing literature on the audit committee, and therefore, wider corporate governance literature and provide originality in that it is the first, to the knowledge, to consider two characteristics (i.e. remuneration and gender) in a UK context of corporate scandal. Also, the results imply that the structure and diversity of the audit committee affect corporate fraud/scandal/sanctions.
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McDaniel, Linda, Roger D. Martin, and Laureen A. Maines. "Evaluating Financial Reporting Quality: The Effects of Financial Expertise vs. Financial Literacy." Accounting Review 77, s-1 (March 1, 2002): 139–67. http://dx.doi.org/10.2308/accr.2002.77.s-1.139.
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Audit committees evaluate financial reporting quality as part of their corporate oversight responsibilities. Given this responsibility, the national stock exchanges now require all audit committee members to be financially literate and at least one member to have financial expertise. In light of recent debates over this requirement, we provide evidence on how experts and literates differ in their evaluations of financial reporting quality. Results suggest that experts' evaluations of financial reporting quality are more strongly associated with their assessments of characteristics underlying reporting quality (e.g., relevance) espoused in Statement of Financial Accounting Concepts No. 2's framework than literates' evaluations. Additionally, literates are more likely than experts to identify concerns about reporting treatments for business activities that are prominent in the business press or are distinguished by their nonrecurring nature, while experts are more likely to raise concerns about reporting treatments for less prominent, recurring activities. This same pattern occurs in the ratings of the quality of the reporting treatments for specific financial statement items with respect to elements underlying reporting quality (e.g., neutrality); literates (experts) assess the quality elements for the reporting treatments of prominent and nonrecurring items (less prominent and recurring items) comparatively lower than experts (literates). These results suggest that including financial experts on audit committees is likely to change the structure and focus of audit committee discussions about financial reporting quality, and may affect the committee's overall assessment of the quality of a company's financial reports.
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Rojpaisarnkit, Kunwadee, and Yuvadee Rodjarkpai. "MANAGEMENT OF COMMUNITY ELDERLY CLUBS FOR IMPROVING WELL-BEING OF THE THAI ELDERLY: A QUALITATIVE STUDY." Malaysian Journal of Public Health Medicine 21, no. 1 (April 24, 2021): 311–16. http://dx.doi.org/10.37268/mjphm/vol.21/no.1/art.868.
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In Thailand, the elderly club is a public organization that plays an important role in developing the well-being of the elderly in the community. The aim of this study was to 1) examine the management of the elderly club and the characteristics of elderly well-being development activities, 2) investigate the management of the elderly club in developing elderly well-being, and 3) determine the factors affecting the successful management of the elderly clubs and the activities that improve well-being of the elderly. The employed research method was a form of phenomenological research, with data collection conducted via six focus group discussions and in-depth interviews. The participants were club committee members who met the inclusion criteria. Data was analyzed using the content analysis method and its reliability was verified by examining information against relevant literature, view of informants, and experts. Results found most of activities improving elderly well-being focused on health promotion and elder education. There were eight important factors affecting the successful management of the elderly club, i.e. competency of the leader and club committees, committee and member participation, regular activities, support from public health officers, financial self-reliance, external financial support, network partners, and social participation. The research also suggests five important factors affecting the activities that improve elderly well-being, i.e. external financial support, network partners, committee and member participation, social participation, and support from public health officers.
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Khan, R., K. Elsolh, N. Gimpaya, M. A. Scaffidi, R. Bansal, and S. C. Grover. "A89 CHARACTERISTICS AND CONFLICTS OF INTEREST AT FOOD AND DRUG ADMINISTRATION GASTROINTESTINAL DRUG ADVISORY COMMITTEE MEETINGS." Journal of the Canadian Association of Gastroenterology 4, Supplement_1 (March 1, 2021): 60–62. http://dx.doi.org/10.1093/jcag/gwab002.087.
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Abstract Background The United States Food and Drug Administration (FDA) Gastrointestinal Drug Advisory Committee (GIDAC) is involved in gastrointestinal drug application reviews. Characteristics and conflicts of interest (COI) in GIDAC meetings are not well described. Aims To analyze FDA GIDAC meetings and characteristics that predict recommendations. Methods This was a cross-sectional study of all publicly available GIDAC meetings where proposed medications were voted on from 1998–2018. Data were collected on individual meetings and individual voting members at meetings. Predefined predictor variables included type of medication, medication sponsor, primary efficacy studies, and voting member characteristics (e.g. committee membership, COI). Univariate analyses were conducted at per-meeting and per-vote levels to assess for predictors of committee recommendation and individual votes respectively. Results Thirty-four meetings with 476 individual votes from 1998–2018 were included. Twenty-three (68%) proposals were recommended for approval and 25 (74%) received FDA approval. Most proposals involved >1 primary study (n=27, 79%). At least one voting member had a COI in 24 (71%) of 34 meetings. Twelve (35%) meetings had at least one sponsor COI. Among 476 individual votes, 74 (15.5%) involved a COI, with 33 (6.9%) sponsor COI. COI decreased significantly over time, with more COI in 1996–2000 and 2001–2005 compared to 2006–2010, 2011–2015, and 2016–2020 (p<0.01). There were no significant associations between pre-defined predictors, including COI, and committee level recommendations or individual votes (p>0.05 for all univariate analyses). Conclusions The GIDAC reviewed 34 proposals from 1998–2018. The majority were recommended for approval and later approved by the FDA, highlighting the GIDAC’s prominence in the regulatory process. COI are present among GIDAC panelists but decreasing over time and not associated with recommendations. Funding Agencies None
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Zorin, V. A. "Career Trajectories of Political Leaders and Formation of Political Elite in USSR in 1966—1990 (Politburo of CPSU Central Committee)." Nauchnyi dialog 11, no. 10 (January 7, 2023): 335–52. http://dx.doi.org/10.24224/2227-1295-2022-11-10-335-352.
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The analysis of the members of the CPSU Politburo of the Central Committee biographical characteristics as an elite category in the structure of the Soviet political class is carried out. The purpose of the study is to identify normative patterns in the career trajectories of the highest stratum of the Soviet political elite. To achieve this goal, a database was formed containing the biographical characteristics of the leaders who had the status of a member and candidate member of the Politburo in the period from 1966 to 1990. Some parameters of the biographies of the studied leaders are of a normative nature, that is, they are characteristic of the majority: gender belonging to the male sex, place of birth in a rural area, higher education with a specific technical specialty, early age of starting managerial activity and relatively late age of entering the Politburo level as the highest stratum of the Soviet political class, experience in the real sector of the economy and management, combined with experience in exercising deputy powers in representative bodies at various levels. The combination of these characteristics contributed to the positive perception of the political elite by society and can be considered as a model for comparison with the political elite of modern Russia.
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FADILAH FABIANY, NYAYU. "PENGARUH KARAKTERISTIK KOMITE AUDIT DAN REPUTASI KANTOR AKUNTAN PUBLIK (KAP) TERHADAP KETEPATAN WAKTU PELAPORAN KEUANGAN PADA PERUSAHAAN MULTIFINANCE YANG TERCATAT DI BEI." Jurnal Manajemen Terapan dan Keuangan 5, no. 2 (September 7, 2016): 108–22. http://dx.doi.org/10.22437/jmk.v5i2.3269.
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This study entitled "The Effect of Audit Committee Characteristics and Reputation Public Accounting Firm (KAP) of the Financial Reporting Time linessin the Multifinance Company Listedon the Stock Exchange". This studyis a survey researchby processing as econdary virginannual report published on the Indonesia Stock Exchange (IDX). The populationin this studyis afinance companythat is listed on the Stock Exchange 2011-2013. Samples taken during theperiod 2011-2013 amounted to 13 companies are selected based onthe intentand purpose of the study (purposive sampling). To determine the effect of Membership of the Audit Committee, member of Audit Committee Independence, Proportion Independent Commissioner, Competence, and Reputation Public Accounting Firm (KAP) the time linessof financial reporting by using logistic regression. The conclusion of this study that the Audit Committee, and Reputation Public Accounting Firm (KAP) with the same no significant effect onthe time liness offinancial reporting. Variable Membership of the Audit Committee, member of Audit Committee Independence, Proportion Independent Commissioner and Public Accounting Firm Reputationdoes not significantly influence the time liness offinancial reporting. While the competence variables significantly influence the time liness offinancial reporting.
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Elbahar, Ehab R. "Board of director’s characteristics and bank performance: Evidence from GCC region." Corporate Ownership and Control 17, no. 1 (2019): 14–23. http://dx.doi.org/10.22495/cocv17i1art2.
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The main purpose of the current study is to examine the association between Corporate Governance’s (GC) variables represented by board characteristics and Bank performance measured by ROE and ROA in GCC banking sector. For the purposes of this study, the sample of 68 banks in gulf countries during the period from 2013 to 2017 have been selected and divided the data to Islamic banks and conventional banks (16 Islamic banks, 52 Non-Islamic). Furthermore this study uses the nonparametric regression OLS and Quantile analysis. The current study suggest that the existence of female directors on the board of director in last years is significantly associated with better performance, we concludes that females in GCC banking sector in latest years reached a high level of maturity in understanding banking industry. Furthermore, this study suggests that the audit committee associated positively and significantly with bank performance, it means that the audit committee in latest years plays important role in enhancing the performance. In addition to the above, the political member on the board and risk committee does not affect the performance significantly. Both of board size and Sharia committee are associated positively and significantly with performance.
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Hoitash, Udi, Rani Hoitash, and Jean C. Bedard. "Corporate Governance and Internal Control over Financial Reporting: A Comparison of Regulatory Regimes." Accounting Review 84, no. 3 (May 1, 2009): 839–67. http://dx.doi.org/10.2308/accr.2009.84.3.839.
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ABSTRACT: This study examines the association between corporate governance and disclosures of material weaknesses (MW) in internal control over financial reporting. We study this association using MW reported under Sarbanes-Oxley Sections 302 and 404, deriving data on audit committee financial expertise from automated parsing of member qualifications from their biographies. We find that a lower likelihood of disclosing Section 404 MW is associated with relatively more audit committee members having accounting and supervisory experience, as well as board strength. Further, the nature of MW varies with the type of experience. However, these associations are not detectable using Section 302 reports. We also find that MW disclosure is associated with designating a financial expert without accounting experience, or designating multiple financial experts. We conclude that board and audit committee characteristics are associated with internal control quality. However, this association is only observable under the more stringent requirements of Section 404.
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Khan, Rishad, Karam Elsolh, Nikko Gimpaya, Michael A. Scaffidi, Rishi Bansal, and Samir C. Grover. "Characteristics and conflicts of interest at Food and Drug Administration Gastrointestinal Drug Advisory Committee meetings." PLOS ONE 16, no. 5 (May 26, 2021): e0252155. http://dx.doi.org/10.1371/journal.pone.0252155.
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Introduction The United States Food and Drug Administration (FDA) Gastrointestinal Drug Advisory Committee (GIDAC) is involved in gastrointestinal drug application reviews. Characteristics and conflicts of interest (COI) in GIDAC meetings are not well described. This study analyzed FDA GIDAC meetings and characteristics that predict recommendations. Methods In this cross-sectional study, all publicly available GIDAC meetings where proposed medications were voted on were included. Data were collected regarding indications, medication sponsor, primary efficacy studies, and voting member characteristics (e.g. committee membership, COI). Univariate analyses were conducted at per-meeting and per-vote levels to assess for predictors of committee recommendation and individual votes respectively. Results Thirty-four meetings with 476 individual votes from 1998–2018 were included. Twenty-three (68%) proposals were recommended for approval and 25 (74%) received FDA approval. Most proposals involved >1 primary study (n = 27, 79%). At least one voting member had a COI in 24 (71%) of 34 meetings. Twelve (35%) meetings had at least one sponsor COI. Among 476 individual votes, 74 (15.5%) involved a COI, with 33 (6.9%) sponsor COI. COI decreased significantly over time, with fewer COI in 2006–2010, 2011–2015, and 2016–2020 compared to 1996–2000 and 2001–2005 (p<0.01). There were no significant associations between pre-defined predictors, including COI, and committee level recommendations or individual votes (p>0.05 for all univariate analyses). Conclusions The GIDAC reviewed 34 proposals from 1998–2018. The majority were recommended for approval and later approved by the FDA, highlighting the GIDAC’s prominence in the regulatory process. COI are present among GIDAC panelists but decreasing over time and not associated with recommendations.
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Wilbanks, Robert M., Dana R. Hermanson, and Vineeta D. Sharma. "Audit Committee Oversight of Fraud Risk: The Role of Social Ties, Professional Ties, and Governance Characteristics." Accounting Horizons 31, no. 3 (February 1, 2017): 21–38. http://dx.doi.org/10.2308/acch-51695.
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SYNOPSIS This study examines audit committee (AC) oversight of fraudulent financial reporting (FFR) risk and management integrity, and how such oversight varies with AC social ties, professional ties, and governance characteristics. Specifically, based on a survey of 134 U.S. public company AC members, we find that AC participants with social ties (i.e., personal ties) to the CEO are negatively associated with AC actions to assess FFR risk and management integrity. Further, the AC appears to cut back on more observable FFR and MI actions when the responding AC member has a social tie to the CEO, consistent with socially connected ACs being reluctant to engage in observable monitoring actions that could jeopardize a social tie to the CEO. However, AC participants with professional ties to other independent directors and those with professional experience as corporate controllers are positively related to such actions. We also find that AC size is positively related to FFR risk assessment, while female AC participants and those serving on boards with greater independence are more likely to report engaging in AC activities to assess management integrity. Finally, when asked more broadly about who they rely on and who is responsible for assessing the risk of FFR, AC members mainly point to the external audit partner, CFO, and head of internal audit. We discuss implications and directions for future research.
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Carcello, Joseph V., Carl W. Hollingsworth, and Terry L. Neal. "Audit Committee Financial Experts: A Closer Examination Using Firm Designations." Accounting Horizons 20, no. 4 (December 1, 2006): 351–73. http://dx.doi.org/10.2308/acch.2006.20.4.351.
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The Sarbanes-Oxley Act (SOX) requires the disclosure of whether the audit committee has a financial expert. We examine disclosures related to audit committee financial experts (ACFEs) in the first year that this disclosure requirement is in effect. We find that virtually all companies disclose whether an ACFE is on the audit committee, although the transparency of the disclosure regarding the ACFE's background is limited. We also find that most ACFEs do not have a background in accounting or finance, although there are notable differences between stock exchanges on this dimension. In addition, we find that companies designate ACFEs who would not have been identified using extant research methods, and companies fail to voluntarily designate many individuals who appear to qualify as an ACFE, particularly if another audit committee member is already designated as an ACFE. Thus, some companies appear to be extremely conservative in designating directors as ACFEs, possibly due to concerns about the legal liability faced by designated ACFEs. Finally, we identify certain company characteristics that are associated with the designation or type of financial expert on the audit committee.
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Santos, Ariovaldo dos, and Paola R. Londero. "ICPC 14: what is missing?" Revista Contabilidade & Finanças 28, no. 75 (December 2017): 478–85. http://dx.doi.org/10.1590/1808-057x201704740.
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ABSTRACT The purpose of this study is to raise questions about Technical Interpretation 14 (ICPC 14) from the Accounting Standards Committee with regards to the statutory characteristics of Brazilian cooperative societies. We do not aim to provide definitive solutions by exhausting all conceptual analyses and accounting alternatives involving the reclassification of member shares, or “quotas”, from net equity to liabilities, but rather to present some considerations with regards to points that are not explicit in ICPC 14. Applying the concept of adjustment to present value (APV) is the main point of this study, which was not taken into account when ICPC 14 was elaborated. Analysis of the statutes of cooperatives indicates, as a common characteristic, the obligation to always pay the redemption of members’ quotas in a period of more than one year, and this leads us to conclude that for a reliable representation of the phenomenon it is necessary to recognize the APV of this reclassified liability.
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Popescu, Lelia Letitia, Razvan Stefan Popescu, and Tiberiu Catalina. "Improving the Energy Efficiency of an Existing Building by Dynamic Numerical Simulation." Applied Sciences 11, no. 24 (December 20, 2021): 12150. http://dx.doi.org/10.3390/app112412150.
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Nowadays, the enhancement of the existing building stock energy performance is a priority. To promote building energy renovation, the European Committee asks Member States to define retrofit strategies, finding cost-effective solutions. This research aims to investigate the relationship between the initial characteristics of an existing residential buildings and different types of retrofit solutions in terms of final/primary energy consumption and CO2 emissions. A multi-objective optimization has been carried out using experimental data in DesignBuilder dynamic simulation tool.
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Polanco Lazo, Rodrigo, and Valentino Desilvestro. "Does an Arbitrator’s Background Influence the Outcome of an Investor-State Arbitration?" Law & Practice of International Courts and Tribunals 17, no. 1 (June 27, 2018): 18–48. http://dx.doi.org/10.1163/15718034-12341366.
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Abstract The goal of this article is to determine whether the background of an arbitrator could be considered as a determinant of case-outcomes in investor-state dispute settlement (ISDS). Using the existing literature on arbitrators’ bias and experience as a starting point, this study analyses several characteristics of arbitrators as part of their “background”, grouping them into two basic categories: ISDS experience (related to their previous involvement as arbitrator or member of an annulment committee in investor-state arbitration), and personal characteristics (including age, gender, language, nationality, background legal studies and professional background). Our research concludes that, with some exceptions, generally there does not seem to be a decisive influence between the arbitrator’s ISDS experience or personal characteristics in the outcome of an investor-state arbitration case.
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Chow, Shirley L., J. Carter Thorne, Mary J. Bell, Robert Ferrari, Zarnaz Bagheri, Tristan Boyd, Ann Marie Colwill, et al. "Choosing Wisely: The Canadian Rheumatology Association’s List of 5 Items Physicians and Patients Should Question." Journal of Rheumatology 42, no. 4 (February 1, 2015): 682–89. http://dx.doi.org/10.3899/jrheum.141140.
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Objective.To develop a list of 5 tests or treatments used in rheumatology that have evidence indicating that they may be unnecessary and thus should be reevaluated by rheumatology healthcare providers and patients.Methods.Using the Delphi method, a committee of 16 rheumatologists from across Canada and an allied health professional generated a list of tests, procedures, or treatments in rheumatology that may be unnecessary, nonspecific, or insensitive. Items with high content agreement and perceived relevance advanced to a survey of Canadian Rheumatology Association (CRA) members. CRA members ranked these top items based on content agreement, effect, and item ranking. A methodology subcommittee discussed the items in light of their relevance to rheumatology, potential effect on patients, and the member survey results. Five candidate items selected were then subjected to a literature review. A group of patient collaborators with rheumatic diseases also reviewed these items.Results.Sixty-four unique items were proposed and after 3 Delphi rounds, this list was narrowed down to 13 items. In the member-wide survey, 172 rheumatologists responded (36% of those contacted). The respondent characteristics were similar to the membership at large in terms of sex and geographical distribution. Five topics (antinuclear antibodies testing, HLA-B27 testing, bone density testing, bone scans, and bisphosphonate use) with high ratings on agreement and effect were chosen for literature review.Conclusion.The list of 5 items has identified starting points to promote discussion about practices that should be questioned to assist rheumatology healthcare providers in delivering high-quality care.
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Márquez, Jesús Rodríguez, and Iñaki Bilbao Estrada. "VAT Fraud and Emission Allowances." EC Tax Review 19, Issue 5 (October 1, 2010): 210–27. http://dx.doi.org/10.54648/ecta2010027.
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The absence of Community legislation on the value-added tax (VAT) treatment of allowances has meant that, after the detection of suspected cases of fraud, several Member States have departed from the guidelines adopted unanimously by the VAT Committee. While this situation has produced a swift reaction from the European Union (EU) through the Proposal for a Directive to amend the VAT Directive aimed at giving a unified response to the phenomenon of the plots of fraud in general, it is surprising its voluntary nature. In addition, this article will show how, given the urgency of adopting a solution, the special characteristics of the emission rights market to arbitrate other measures have not been taken into account. Likewise, it also tries to show that the general answer is, of course, forgetting the inclusion of the tax treatment of allowances in the proposed directive to prevent Member States adopt different treatments that may distort the functioning of the allowance.
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Baker, Keith. "Determining Resident Clinical Performance." Anesthesiology 115, no. 4 (October 1, 2011): 862–78. http://dx.doi.org/10.1097/aln.0b013e318229a27d.
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Background Valid and reliable (dependable) assessment of resident clinical skills is essential for learning, promotion, and remediation. Competency is defined as what a physician can do, whereas performance is what a physician does in everyday practice. There is an ongoing need for valid and reliable measures of resident clinical performance. Methods Anesthesia residents were evaluated confidentially on a weekly basis by faculty members who supervised them. The electronic evaluation form had five sections, including a rating section for absolute and relative-to-peers performance under each of the six Accreditation Council for Graduate Medical Education core competencies, clinical competency committee questions, rater confidence in having the resident perform cases of increasing difficulty, and comment sections. Residents and their faculty mentors were provided with the resident's formative comments on a biweekly basis. Results From July 2008 to June 2010, 140 faculty members returned 14,469 evaluations on 108 residents. Faculty scores were pervasively positively biased and affected by idiosyncratic score range usage. These effects were eliminated by normalizing each performance score to the unique scoring characteristics of each faculty member (Z-scores). Individual Z-scores had low amounts of performance information, but signal averaging allowed determination of reliable performance scores. Average Z-scores were stable over time, related to external measures of medical knowledge, identified residents referred to the clinical competency committee, and increased when performance improved because of an intervention. Conclusions This study demonstrates a reliable and valid clinical performance assessment system for residents at all levels of training.
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Kend, Michael. "Governance, firm-level characteristics and their impact on the client’s voluntary sustainability disclosures and assurance decisions." Sustainability Accounting, Management and Policy Journal 6, no. 1 (March 2, 2015): 54–78. http://dx.doi.org/10.1108/sampj-12-2013-0061.
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Purpose – The purpose of this study is to consider three distinct bodies of literature and uses stakeholder theory as the premise of this study. The first deals with corporate sustainability reporting and voluntary disclosure behaviour, and corporate governance at the firm level, the second deals with the decision to utilize assurance services (voluntary adoption) and the third relates to the choice of auditor/assurance provider. Design/methodology/approach – This study investigates these issues using archival data from some of the Top 200 listed companies in 2010 from the countries Australia and the UK. The final matched-pair sample consists of 220 listed companies. Findings – The study finds that audit client size and the strength of corporate governance structures are significant in explaining the decision to produce a standalone sustainability report. Whereas few of these variables provide any explanatory value on the voluntary decision to assure the sustainability report, the existence of an active and diligent audit committee does have positive significance. Finally, the existence of an active and diligent sustainability committee is significant in explaining the choice of assurance provider where a member of the auditing profession was selected by the firm’s management. Originality/value – Few studies (if any), have found a link between governance characteristics, sustainability report production, and assurance provider. The current study attempts to address this knowledge gap, and also considers the assurance work by professionals outside the auditing profession, and identifies which governance and firm-level characteristics may explain demand for their assurance services. This current study, assists to understand the low incidence of assurance and what might be necessary to increase demand for this type of assurance.
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Supriyaningsih, Supriyaningsih, and Fuad Fuad. "THE INFLUENCE OF AUDIT COMMITTEE CHARACTERISTICS ON REAL EARNINGS MANAGEMENT." JURNAL AKUNTANSI DAN AUDITING 13, no. 1 (May 31, 2016): 61–79. http://dx.doi.org/10.14710/jaa.13.1.61-79.
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Current study tests the impact of audit committees to the real earnings management.Using the manufacturing public listed companies from Indoensia Stock Exchange from 2012 until 2014, we found that that financial and accounting expertise of audit committee members and audit committee size have positive effect on real earnings management. Furthermore, we also found that the dual positions of the audit committee chairman have a negative effect on earnings management. The Tenure of audit committee chairman however, has no impact on real earnings management.
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Abu Samah, Mohamad Ezanie, Che Aziz Ali, and Kamal Roslan Mohamed. "Sedimentological And Stratigraphical Analysis Of Kaki Bukit Formation (Lower Setul Member) At Teluk Ewa, Pulau Langkawi." Bulletin Of The Geological Society Of Malaysia 72 (November 15, 2021): 25–35. http://dx.doi.org/10.7186/bgsm72202103.
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The identification of new units on the carbonate sequence of Teluk Ewa (from Tg. Mendidih to Teluk Ewa) has given an idea for the review of stratigraphic succession of Kaki Bukit Formation (Lower Setul Member). The analysis is related to a sedimentology study, where the sedimentary sequences formed as a mixed siliciclastic–carbonate shallow marine system that combines the carbonate and silisiclastic deposits. Eight facies have been recognised such as (1) argillite facies, (2) interlayer of mudstone and limestone facies, (3) wavy stromatolites limestone facies, (4) linear stromatolites limestone facies, (5) heterolithic of mudstone-limestone facies, (6) shale facies, (7) massive limestone facies and (8) thrombolites limestone facies. Each facies are divided into four litostratigraphic units based on the evaluation from Malaysian Stratigraphic Nomenclature Committee (1997) and North American Stratigraphic Code 2005. (1) The clastic unit referring to the uppertmost part of Machinchang Formation maintains it's name. Meanwhile, the suggested nomenclature for the new units such as (2) The Sabung Member is referring to the basal carbonate unit comprising microbial facies and mixed silisiclastic-carbonate sediment. (3) The Pesak Seluar Member in the middle is a silisiclastic unit that consists of shale facies and (4) The Ewa Member at the top representing the upper limestone unit. All units show a similar litostratigraphic characteristics that are found in Tarutao Group, Pante Malaka Formation, Rung Nok Formation and Lae Tong Formation in Thailand as described by Wongwanich et al. (1990; 2002) and Imsamut & Abdul Rahman (2017).
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Katodritou, Eirini, Efstathios Kastritis, Moshe E. Gatt, Yael C. Cohen, Irit Avivi, Anastasia Pouli, Avgi Lalayianni, et al. "Real-World Data on Incidence, Clinical Characteristics and Outcome of Patients with Macrofocal Multiple Myeloma (MFMM) in the Era of Novel Therapies: A Study of the Greco-Israeli Collaborative Myeloma Working Group." Blood 132, Supplement 1 (November 29, 2018): 3295. http://dx.doi.org/10.1182/blood-2018-99-114106.
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Abstract Macrofocal Multiple Myeloma (MFMM) has been described as a distinct entity of Multiple Myeloma (MM) characterized by young age, lytic lesions and limited bone marrow infiltration by clonal plasma cells (BMPCs), in the absence of other features of symptomatic MM (i.e. anemia, renal insufficiency and hypercalcemia). Few case studies have indicated a possible favorable prognosis of MFMM patients compared to patients with typical symptomatic MM. Our aim was to investigate the incidence, characteristics and outcome of patients with MFMM, under the light of modern therapeutic approach of MM. MFMM definition required: clonal BMPCs <20%, multiple lytic lesions, absence of anemia, renal insufficiency and hypercalcemia and among 4650 MM patients (3%) registered in the MM databases of Greek and Israeli centers during 2001-2017, we identified 140 patients with MFMM (M/F: 93/47, median age: 61, range: 26-89, IgG: 86, IgA: 12, light chain: 21, IgD: 4, non-secretory: 16, IgM: 1). Most of patients with MFMM (60%) were <65 years; 68% had performance status 0-2 according to Eastern Cooperative group (ECOG) scale; 70% had advanced bone disease (>3 lytic lesions). In 20/140 (14%) patients bone plasmacytomas preceded MM diagnosis. In 95/140 (68%) patients bone, soft tissue or mixed plasmacytomas in multiple locations, were present at diagnosis or during MFMM course and this was significantly more frequent compared with standard MM. Median BMPCs infiltration was 14% (range 0-19%); immunoparesis was less common in MFMM (55% vs. 90% in standard MM). Elevated lactate dehydrogenase (LDH) and β2 microglobulin (β2Μ) ≥ 3.5mg/L were found in 9% and 20% of patients, respectively. Cytogenetics by fluorescence in situ hybridization (FISH) were available in 60% of patients and high-risk features were found in 11%; overall, adverse prognostic parameters (i.e. high LDH, advanced age, high β2Μ, high risk cytogenetics) were less common in patients with MFMM compared with others (p<0.05). According to the International staging system (ISS) patients were stratified as follows: ISS1:71%, ISS2: 25% and ISS3: 4%. Per Revised ISS the distribution was R-ISS1: 54%, RISS2: 46%, no R-ISS3). Induction therapy included novel agents in 90% of patients (bortezomib-based: 61%, thalidomide-based: 14%, bortezomib-lenalidomide-dexamethasone: 4%, lenalidomide-based: 11%); 47% underwent autologous transplantation (ASCT) upfront and 13% at 1st relapse. An objective response (ORR) was achieved in 90%: 70% had at least very good partial response (vgPR), 21% partial response, 6% stable disease and 3% had progressive disease; ORR and achievement of ≥vgPR were significantly higher compared with typical MM (p<0.05). After a median follow up of 52 months (95% CI: 40-64), 33 patients have died (MM progression: 19, lung infection: 8, other causes: 6). Early deaths (<12 months) observed in 5% of patients; 53 patients received 2nd line therapy (proteasome inhibitor-based or lenalidomide-dexamethasone: 79%) and 5 patients received only radiotherapy for plasmacytomas; early relapse (<12 months) was less common in MFMM compared with standard MM (p<0.05). Progression-free survival (PFS) and overall survival (OS) were 46 months (95% CI: 40-52) and 129 months (95% CI: 79-178) respectively, both significantly longer compared with typical MM treated during the same period (p<0.001). In the univariate analysis age <65, early stage disease (ISS1, R-ISS1), 1st line treatment with proteasome inhibitor (PI)-based regimens, ASCT, and standard risk cytogenetics predicted positively for OS in MFMM patients; treatment with PI-based therapies was the only independent predictor for OS in the multivariate analysis (HR: 3.9; p<0.001). In conclusion, MFMM is a rare entity of MM characterized by limited bone marrow infiltration, extended bone lesions and frequent presence of plasmacytomas, prior or during the diagnosis or the course of the disease. MFMM patients are younger have less often adverse prognostic features compared with standard MM and achieve high quality responses when treated with novel therapies. Treatment with PI-based regimens was the strongest predictor for OS in MFMM indicating that it is probably the best therapeutic option for these patients. Disclosures Kastritis: Janssen: Honoraria, Membership on an entity's Board of Directors or advisory committees; Takeda: Honoraria, Membership on an entity's Board of Directors or advisory committees; Celgene: Honoraria, Membership on an entity's Board of Directors or advisory committees; Amgen: Honoraria, Membership on an entity's Board of Directors or advisory committees; Prothena: Honoraria, Membership on an entity's Board of Directors or advisory committees. Cohen:Amgen: Honoraria, Research Funding; Janssen: Honoraria, Research Funding; Takeda: Honoraria, Research Funding. Aviv:ABBVIE: Consultancy; ROCHE: Research Funding. Terpos:Janssen: Consultancy, Honoraria, Membership on an entity's Board of Directors or advisory committees, Other: member of steering committee, Research Funding; Genesis: Consultancy, Honoraria, Membership on an entity's Board of Directors or advisory committees, Other: travel grant, Research Funding; Takeda: Consultancy, Honoraria, Membership on an entity's Board of Directors or advisory committees, Other: travel grant, Research Funding; Celgene: Consultancy, Honoraria, Membership on an entity's Board of Directors or advisory committees, Other: member of DMC, Research Funding; Amgen Inc.: Consultancy, Honoraria, Membership on an entity's Board of Directors or advisory committees, Other: travel grant, steering committee member, Research Funding; BMS: Consultancy; Novartis: Consultancy. Dimopoulos:Amgen: Honoraria; Janssen: Honoraria; Bristol-Myers Squibb: Honoraria; Takeda: Honoraria; Celgene: Honoraria.
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Sun, Jerry, George Lan, and Guoping Liu. "Independent audit committee characteristics and real earnings management." Managerial Auditing Journal 29, no. 2 (February 3, 2014): 153–72. http://dx.doi.org/10.1108/maj-05-2013-0865.
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Purpose – The purpose of this study is to investigate the effectiveness of independent audit committees in constraining real earnings management. This study examines the relationships between audit committee characteristics and real activities manipulation. Design/methodology/approach – US firms with stronger incentives to undertake real earnings management are selected as a sample. Regressions are run for the empirical analyses. Findings – It is found that audit committee members' additional directorships are positively associated with real earnings management measured by abnormal cash flows from operations, abnormal discretionary expenses and abnormal production costs, suggesting that audit committees with high additional directorships are less effective in constraining real earnings management. The findings are consistent with the notion that audit committee members' busyness impairs their monitoring effectiveness. Originality/value – This study extends the extant research on audit committees' oversight of real earnings management by using refined research design and updated data. This study also provides further evidence on how audit committee members' additional directorships affect their ability to oversee both accrual and real earnings management.
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Kotzé, Antonie, and Paul du Preez. "Current exposure method for CCP’s under Basel III." Risk Governance and Control: Financial Markets and Institutions 3, no. 1 (2013): 82–92. http://dx.doi.org/10.22495/rgcv3i1c1art2.
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Exposure-at-default is one of the most interesting and most difficult parameters to estimate in counterparty credit risk. Basel I offered only the non-internal Current Exposure Method for estimating this quantity whilst Basel II further introduced the Standardized Method and an Internal Model Method. Under new Basel III rules a central counterparty is defined as being a financial institution. New principles set out by the Basel Committee on Banking Supervision forces Central Counterparties in using the Current Exposure Method when estimating the credit exposures to Clearing Member banks notwithstanding its shortcomings. The Current Exposure Method relies on the Value-at-Risk methodology and its characteristics are discussed in this note. We will particularly investigate exposures to SAFCOM, the South African clearing house and point to a mathematical discrepancy on how netting is effected through the Basel accord.
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Deslandes, Manon, Anne Fortin, and Suzanne Landry. "Audit committee characteristics and tax aggressiveness." Managerial Auditing Journal 35, no. 2 (December 11, 2019): 272–93. http://dx.doi.org/10.1108/maj-12-2018-2109.
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Purpose This study aims to analyze the relationship between a company’s use of aggressive tax planning and several audit committee members’ characteristics, namely, independence, expertise, diligence and gender diversity. Design/methodology/approach This paper is an empirical research using archival data from 289 Canadian listed companies for the 2011-2015 period. Findings The authors find that measures of expertise and diligence are significantly related to tax aggressiveness. Financial expertise and tenure on the audit committee play an important role in constraining tax aggressiveness, as does having a larger audit committee. Research limitations/implications One limitation – and an area for future research – is that the effects of the audit committee members’ relationships with managers of the firms were not investigated. Practical implications Knowledge of audit committee characteristics may send a signal to shareholders, investors and tax agencies regarding the company’s potential risk with respect to aggressive tax planning. The analysis provides useful insights for board governance committees when determining the profile of persons to nominate for board positions and committees. In discussing tax-risk management, the study may heighten audit committee members’ awareness of their role in this respect. Originality/value This study’s results indicate that even in a setting where incentives for firms to be tax-aggressive is low compared to high-tax rate countries, there is variability in firms’ tax aggressiveness. This situation allows us to find audit committee characteristics that are effective in decreasing tax aggressiveness.
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Chariri, Anis, Indira Januarti, and Etna Nur Afri Yuyetta. "Audit Committee Characteristics and Carbon Emission Disclosure." E3S Web of Conferences 73 (2018): 02001. http://dx.doi.org/10.1051/e3sconf/20187302001.
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Business activities have contributed to the increasing level of carbon emissions, which can endanger the environment. Such phenomena have pushed companies to disclose a variety of carbon emission information to show their responsibilities. Thus, this study aims to investigate the influence of audit characteristics (independence, expertise, meetings) on carbon emission disclosure. Data were collected from the Nordic companies, which were registered in the 2015 Carbon Disclosure Project. A total of 105 companies were used as samples for further analysis. A regression model was then employed to analyse the data. The findings showed that all characteristics of audit committees (independent audit committee, audit committee expertise and audit committee meetings) positively affected carbon emission disclosure. This study implies that companies that are interested in disclosing carbon emission information should create more independent members of audit committees whose expertise or experiences are in accounting/finance/risk. The audit committee members should be also actively involved in regular meetings to monitor and evaluate company’s policy on carbon emission disclosure.
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Martinov-Bennie, Nonna, Dominic S. B. Soh, and Dale Tweedie. "An investigation into the roles, characteristics, expectations and evaluation practices of audit committees." Managerial Auditing Journal 30, no. 8/9 (October 5, 2015): 727–55. http://dx.doi.org/10.1108/maj-05-2015-1186.
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Purpose – This paper aims to investigate how the roles, characteristics, expectations and evaluation practices of audit committees have adapted to regulatory change and what practices are most conducive to effective audit committees. Design/methodology/approach – This paper uses semi-structured interviews with audit committee chairs and chief audit executives. Findings – While new regulation is a primary driver of changes in the roles of audit committees, the audit committee’s role has evolved beyond regulatory requirements. Audit committees are taking a more active role in organisational governance and performance in key areas such as risk management. However, while audit committees have a clear concept of what characteristics committee members require, conceptual frameworks and mechanisms for evaluating the performance of committees and their members remain underdeveloped. Research limitations/implications – The responses of audit committees in Australia to broader regulatory trends suggest that more research is required into how audit committees function in practice, and into developing new frameworks for evaluating the committees’ performance. This paper provides an in-depth exploration of key areas of audit committee performance, and identifies aspects that might be further investigated. Practical implications – The paper identifies key attributes of effective audit committees and especially the characteristics of audit committee members. The paper also identifies a need to improve – and in many cases create – performance evaluation frameworks and mechanisms. Given the international regulatory trend towards greater reliance on audit committees to improve governance, more policy attention is required on developing guidelines and assessment processes that evaluate whether audit committees are fulfilling their legislative mandate in practice. Originality/value – The paper contributes to the relatively new and more specific discussion on reviewing and evaluating the performance of the board and its subcommittees.
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Sessions, W. R., J. S. Reid, A. Benedetti, P. R. Colarco, A. da Silva, S. Lu, T. Sekiyama, et al. "Development towards a global operational aerosol consensus: basic climatological characteristics of the International Cooperative for Aerosol Prediction Multi-Model Ensemble (ICAP-MME)." Atmospheric Chemistry and Physics 15, no. 1 (January 13, 2015): 335–62. http://dx.doi.org/10.5194/acp-15-335-2015.
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Abstract. Here we present the first steps in developing a global multi-model aerosol forecasting ensemble intended for eventual operational and basic research use. Drawing from members of the International Cooperative for Aerosol Prediction (ICAP) latest generation of quasi-operational aerosol models, 5-day aerosol optical thickness (AOT) forecasts are analyzed for December 2011 through November 2012 from four institutions: European Centre for Medium-Range Weather Forecasts (ECMWF), Japan Meteorological Agency (JMA), NASA Goddard Space Flight Center (GSFC), and Naval Research Lab/Fleet Numerical Meteorology and Oceanography Center (NRL/FNMOC). For dust, we also include the National Oceanic and Atmospheric Administration-National Geospatial Advisory Committee (NOAA NGAC) product in our analysis. The Barcelona Supercomputing Centre and UK Met Office dust products have also recently become members of ICAP, but have insufficient data to be included in this analysis period. A simple consensus ensemble of member and mean AOT fields for modal species (e.g., fine and coarse mode, and a separate dust ensemble) is used to create the ICAP Multi-Model Ensemble (ICAP-MME). The ICAP-MME is run daily at 00:00 UTC for 6-hourly forecasts out to 120 h. Basing metrics on comparisons to 21 regionally representative Aerosol Robotic Network (AERONET) sites, all models generally captured the basic aerosol features of the globe. However, there is an overall AOT low bias among models, particularly for high AOT events. Biomass burning regions have the most diversity in seasonal average AOT. The Southern Ocean, though low in AOT, nevertheless also has high diversity. With regard to root mean square error (RMSE), as expected the ICAP-MME placed first over all models worldwide, and was typically first or second in ranking against all models at individual sites. These results are encouraging; furthermore, as more global operational aerosol models come online, we expect their inclusion in a robust operational multi-model ensemble will provide valuable aerosol forecasting guidance.
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Fisher, R. C., and D. A. Thorley-Lawson. "Characterization of the Epstein-Barr virus-inducible gene encoding the human leukocyte adhesion and activation antigen BLAST-1 (CD48)." Molecular and Cellular Biology 11, no. 3 (March 1991): 1614–23. http://dx.doi.org/10.1128/mcb.11.3.1614-1623.1991.
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BLAST-1 (CD48) (previously referred to as BCM-1 by the Human Gene Nomenclature Committee) is an early-activation-associated membrane glycoprotein expressed on the surface of human leukocytes and induced to a high level following infection of B cells by the Epstein-Barr virus. It is a member of the immunoglobulin superfamily, mediates cell adhesion, and has significant sequence homology to two other adhesion molecules, CD2 and LFA3. Here we report the isolation and characterization of the BLAST-1 gene. The gene is at least 28.6 kb in length, is split into 4 exons, and contains a restriction fragment-length polymorphism. The overall genomic organization is consistent with other members of the immunoglobulin superfamily, in which extracellular immunoglobulinlike domains are encoded by discrete exons. Transcription is initiated at a series of major and minor sites in both normal and tumor-derived lymphoid cells. Appropriately located TATA and CCAAT box sequences were not detected. These characteristics have also been demonstrated for the recently described B-cell-specific genes B29 and CD20. The expression of these genes in B cells may involve the use of multiple promoters and novel transcription initiator-binding proteins. A 1.58-kb genomic DNA fragment, consisting of the 5'-flanking region located immediately upstream of the ATG initiation codon, was able to drive the expression of a reporter gene in an orientation-dependent and tissue-restricted manner.
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Fisher, R. C., and D. A. Thorley-Lawson. "Characterization of the Epstein-Barr virus-inducible gene encoding the human leukocyte adhesion and activation antigen BLAST-1 (CD48)." Molecular and Cellular Biology 11, no. 3 (March 1991): 1614–23. http://dx.doi.org/10.1128/mcb.11.3.1614.
Full textAbstract:
BLAST-1 (CD48) (previously referred to as BCM-1 by the Human Gene Nomenclature Committee) is an early-activation-associated membrane glycoprotein expressed on the surface of human leukocytes and induced to a high level following infection of B cells by the Epstein-Barr virus. It is a member of the immunoglobulin superfamily, mediates cell adhesion, and has significant sequence homology to two other adhesion molecules, CD2 and LFA3. Here we report the isolation and characterization of the BLAST-1 gene. The gene is at least 28.6 kb in length, is split into 4 exons, and contains a restriction fragment-length polymorphism. The overall genomic organization is consistent with other members of the immunoglobulin superfamily, in which extracellular immunoglobulinlike domains are encoded by discrete exons. Transcription is initiated at a series of major and minor sites in both normal and tumor-derived lymphoid cells. Appropriately located TATA and CCAAT box sequences were not detected. These characteristics have also been demonstrated for the recently described B-cell-specific genes B29 and CD20. The expression of these genes in B cells may involve the use of multiple promoters and novel transcription initiator-binding proteins. A 1.58-kb genomic DNA fragment, consisting of the 5'-flanking region located immediately upstream of the ATG initiation codon, was able to drive the expression of a reporter gene in an orientation-dependent and tissue-restricted manner.
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Abbott, Lawrence J., and Susan Parker. "Auditor Selection and Audit Committee Characteristics." AUDITING: A Journal of Practice & Theory 19, no. 2 (September 1, 2000): 47–66. http://dx.doi.org/10.2308/aud.2000.19.2.47.
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The role of the audit committee in corporate governance is the subject of increasing public and regulatory interest. We focus on one frequently noted function of the audit committee: auditor selection. We argue that independent and active audit committee members demand a high level of audit quality because of concerns about monetary or reputational losses that may result from lawsuits or SEC sanction. Auditors who specialize in the client's industry are expected to provide a higher level of audit quality than do nonspecialists. Thus, we predict that firms with audit committees that are both independent and active are more likely to employ an industry-specialist auditor. We find that firms with audit committees that do not include employees and that meet at least twice per year are more likely to use specialists. This study contributes to our understanding of audit committee functions and provides evidence that industry specialization is an important element of auditor selection.
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Bouaine, Wided, and Yosr Hrichi. "Impact of Audit Committee Adoption and its Characteristics on Financial Performance: Evidence from 100 French Companies." Accounting and Finance Research 8, no. 1 (January 8, 2019): 92. http://dx.doi.org/10.5430/afr.v8n1p92.
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The aim of this paper is to examine the impact of legal creation of audit committees on financial firm performance. Precisely, we examine the impact of the establishment of audit committee, following the enactment of Ordinance No. 2008-1278, on financial firm market performance. Moreover, we investigate whether the audit committee characteristics such as independence of the members of the audit committees, the size; the accounting and financial expertise of the committee members as well as the frequency of audit committee meetings determine financial performance.We choose two measures for performance namely ROE and ROA. We conduct a panel study for a sample of 100 French companies listed on the Paris Stock Exchange from 2007 to 2015.The results show that the appearance of a legal text pushes the establishment of the committee but has no significant effect on the company's performance. This can be explained by the strong voluntary adoption of the audit committee following the publication of the Viénot Reports (Saada, 1998).
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Naritoku, Wesley Y., Mary A. Furlong, Barbara Knollman-Ritschel, and Karen L. Kaul. "Enhancing the Pipeline of Pathologists in the United States." Academic Pathology 8 (January 1, 2021): 237428952110417. http://dx.doi.org/10.1177/23742895211041725.
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The shortage of pathologists in the United States has been a topic of discussion for the past 2 decades. At the 2014 Association of Pathology Chairs (APC)/Program Directors Section (PRODS) meeting, a Pipeline Subcommittee (PSC) of the APC Advocacy Committee was formed with the charge of investigating ways to increase the number of highly qualified United States Medical Graduates entering into pathology. Several online surveys were developed to identify the strengths, weaknesses, opportunities, and threats to recruitment into pathology. Two general pipeline surveys were completed; one was issued in 2014 and is discussed in this article. In 2018, the Medical Education Working Group surveyed the Undergraduate Medical Education Directors Section on the state of undergraduate medical education for pathology; pipeline issues are included in this article from the 2018 survey. Medical schools that reported 2% to 5% or more of their graduates going into pathology were compared with schools where less than 1% went into pathology. About one-third of schools producing more pathology residents had Post-Sophomore Pathology Fellowships. Schools that had a faculty member on the curriculum committee that felt they had little or no control were more likely to have fewer graduates going into pathology. Schools having students view an autopsy as a requirement of graduation were more likely to produce graduates going into pathology. However, none of these characteristics achieved statistical significance. Continued incorporation of best practices for exposure of pathology as a medical specialty as well as outreach to students will be necessary for the future pipeline.
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Mishra, Mamta, and Amarjeet Kaur Malhotra. "Audit Committee Characteristics and Earnings Management: Evidence from India." International Journal of Accounting and Financial Reporting 6, no. 2 (November 9, 2016): 247. http://dx.doi.org/10.5296/ijafr.v6i2.10008.
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Earnings management is perceived to be a pervasive phenomenon, spread across companies and industries. It distorts earnings quality and portrays an incorrect picture of a firm’s financial performance. Accounting frauds in companies originate from a culture of widespread earnings management. Audit committees are a popular corporate governance tool to improve the credibility of financial statements. The study, evidently the first of its kind in India, seeks to examine the effectiveness of audit committees in constraining earnings management in Indian companies. Secondary data is collected for a sample of 130 companies listed on the BSE and studied for a three-year period 2013-2015. Univariate correlations, multivariate linear regression, and logistic regression models are used to conduct empirical analysis. Evidence suggests significant impact of audit committee size, multiple directorships of audit committee members and frequency of audit committee meetings on earnings quality. Other audit committee characteristics are not found to have a significant impact on the level of earnings management. Findings of the study throw up useful insights for regulators and company boards to evaluate the efficacy of board audit committees and implement additional governance measures to help preserve the integrity of financial statements.
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Yustrida Bernawati, Paradisa Sukma,. "The Impact of Audit Committe Characteristics on Audit Quality." Jurnal Akuntansi 23, no. 3 (January 20, 2020): 363. http://dx.doi.org/10.24912/ja.v23i3.602.
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This research was conducted to investigate the effect of audit committee characteristics on audit quality. The characteristics of the audit committee used in this study are the number of audit committees, number of audit committee meetings, audit committee education background, and audit committee experience while audit quality is measured using audit fees. This study uses manufacturing companies listed on the Indonesia Stock Exchange in 2016 - 2018 with 70 observation data and uses OLS regression. The results of this study indicate all four Audit Characteristics, only size and experience significantly influence audit quality. While audit meetings and education do not significantly affect audit quality. Likewise with the education that can not ensure the capabilities possessed by members of the audit committee. Overall, the effectiveness of the audit committee has no significant effect on audit quality.
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Ponnu, Cyril, Juan Soo, and Nordin Abidin. "Board characteristics: An empirical study of listed companies in Malaysia." Corporate Board role duties and composition 4, no. 1 (2008): 24–36. http://dx.doi.org/10.22495/cbv4i1art2.
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This paper investigates five important characteristics of board committee members of various committees in public listed companies in Malaysia. The five characteristics include director type, tenure, age, internal activity and external activity. Sample of 111 listed companies were collected using simple random five sampling of the annual reports based on financial year 2005 posted online. Sample includes 6 committees with the highest frequency of occurrences – audit, remuneration, nomination, stock option, risk management and executive. Data collected was analyzed using tests of correlation, analysis of variance and regression. The results, however, do not support the hypothesis that members of committees tend to be non-executive directors, older, have longer tenure and show greater evidence of internal and external activities.
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Terpos, Evangelos, Maria Roussou, Ioannis Ntanasis-Stathopoulos, Nikolaos Kanellias, Despina Fotiou, Dimitrios C. Ziogas, Aristea-Maria Papanota, et al. "Functional Cure, Defined As PFS of More Than 7 Years, Is Achieved in 9% of Myeloma Patients in the Era of Conventional Chemotherapy and of First-Generation Novel Anti-Myeloma Agents; A Single-Center Experience over 20-Year Period." Blood 132, Supplement 1 (November 29, 2018): 1968. http://dx.doi.org/10.1182/blood-2018-99-113108.
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Abstract Advances in the management of multiple myeloma (MM) led to a significant prolongation of overall survival (OS), mainly of the younger patients; almost 10% of them experience more than 10-year OS. Although long progression-free survival (PFS) correlates with extended OS, there is very limited information for the characteristics of patients who manage to be progression-free for a long period after first-line therapy. The aim of this analysis was to evaluate the characteristics of patients who achieved at least 7-year of PFS after frontline therapy and compare them with those of all other patients who were treated in a single center during the same time period. Between January 1994 and December 2010, 406 consecutive newly diagnosed MM patients received first line therapy in the Department of Clinical Therapeutics (Athens, Greece). All patients had symptomatic disease, based on the IMWG criteria of that period (at least one CRAB symptom to start anti-myeloma therapy). Thirty-six (8.8%; 23M/13F) patients achieved a PFS of at least 7 years (long PFS group) after frontline treatment. The median PFS of these 36 patients is 10 years, while the other patients had a median PFS of 22 months. Long PFS patients were younger (median age 56 vs 68 years; p<0.001), had bigger body surface area (median: 1.85 m2 vs. 1.76 m2; p=0.013) and lower ECOG performance status (score 0-1: 71% vs 52%; p=0.014) compared to all others. Long PFS patients had higher hemoglobin (11.4 g/dl vs 10.2 g/dl; p=0.001), higher platelet count (278 vs 224 x109/l; p<0.001) and higher creatinine clearance (CrCl, based on the MDRD formula: 88 vs 67 ml/min; p<0.001; no patient in the long PFS group presented with CrCl <45 ml/min at diagnosis). There was no difference between the two groups regarding percentage of patients with high LDH, presence of osteolysis, type of myeloma (IgG vs IgA vs others), levels of serum and/or urine M-protein, and percentage of plasma cell infiltration in the bone marrow. However, more patients in the long PFS group had ISS-1 or ISS-2 disease (86% vs 61%; p=0.002) and normal pattern of marrow infiltration in the MRI of the spine and pelvis (24% vs 15%; p=0.035). Regarding chromosome abnormalities at diagnosis, no patient in the long PFS group had high-risk cytogenetics (defined as presence of del17p, t(4;14) or t(14;16) vs 32% in all other patients. All patients received either conventional chemotherapy (CC) or first-generation novel anti-myeloma agent (bortezomib (B), thalidomide (T) or lenalidomide (R)-based regimens as frontline therapy. There was no difference between the two groups regarding CC versus novel agent-based induction treatment. Out of 36 long-term PFS patients, 11 (30%) received CC, 8 (22%) B-based, 8 (22%) RD, 6 (17%) T-based, and 3 (8%) VTD; 10 (28%) patients received first-line therapy participating in a clinical trial. Long PFS patients had received more often autologous stem cell transplantation (ASCT, 61% vs 23%; p=0.001) as part of first line therapy; therefore, more long PFS patients had also received consolidation and/or maintenance (50% vs 15%; p=0.001). Higher proportion of patients achieved at least VGPR (74% vs 41%) or at least CR (32% vs 18%) in the long PFS group. We performed next generation flow cytometry in 23 patients of the long PFS group to evaluate minimal residual disease (MRD) and 14 (61%) of them were MRD (-) at the level of the 10-6. The probability of achieving long PFS (≥7 years) for patients who managed to be progression-free at 2, 3 and 4 years was 11.6%, 13.2% and 15.3%, respectively. In the multivariate analysis, only younger age was associated with probability for long PFS (p<0.001). The median OS of the whole group of patients was 5 years; in the long-PFS group median OS has not been reached yet while in all other patients the median OS was 4.3 years. In conclusion, our study in an unselected group of patients, the majority of whom did not participate in clinical trials, showed that 9% of patients with newly diagnosed myeloma experience prolonged PFS of more than 7 years (median: 10 years) even in the era of CC or first-generation novel agents. These patients have low risk disease, mainly of ISS-1 or -2, no high-risk cytogenetics, no or mild renal impairment, and achieve deep responses after ASCT. These patients may be considered as "functionally" cured. The incorporation of novel treatment approaches may lead to a significant improvement in the probability of achievement of this "functionally" cured status. Disclosures Terpos: Novartis: Consultancy; BMS: Consultancy; Takeda: Consultancy, Honoraria, Membership on an entity's Board of Directors or advisory committees, Other: travel grant, Research Funding; Janssen: Consultancy, Honoraria, Membership on an entity's Board of Directors or advisory committees, Other: member of steering committee, Research Funding; Genesis: Consultancy, Honoraria, Membership on an entity's Board of Directors or advisory committees, Other: travel grant, Research Funding; Celgene: Consultancy, Honoraria, Membership on an entity's Board of Directors or advisory committees, Other: member of DMC, Research Funding; Amgen Inc.: Consultancy, Honoraria, Membership on an entity's Board of Directors or advisory committees, Other: travel grant, steering committee member, Research Funding. Kastritis:Prothena: Honoraria, Membership on an entity's Board of Directors or advisory committees; Janssen: Honoraria, Membership on an entity's Board of Directors or advisory committees; Takeda: Honoraria, Membership on an entity's Board of Directors or advisory committees; Celgene: Honoraria, Membership on an entity's Board of Directors or advisory committees; Amgen: Honoraria, Membership on an entity's Board of Directors or advisory committees. Dimopoulos:Celgene: Honoraria; Amgen: Honoraria; Takeda: Honoraria; Janssen: Honoraria; Bristol-Myers Squibb: Honoraria.