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Bassett, Robert A. "Canadian Companies Beware: The U.S. Foreign Corrupt Practices Act Applies to You". Alberta Law Review 36, nr 2 (1.04.1998): 455. http://dx.doi.org/10.29173/alr644.
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This article outlines how the U.S. Foreign Corrupt Practices Act applies to non-U.S. corporations and individuals, with particular reference to those entities in Canada. The author points out the dual requirements of the legislation — the accounting provisions and the anti-bribery provisions — and explains how the generous wording frequently makes them applicable to Canadian corporations and individuals, both directly and indirectly. Several cases are cited as examples of enforcement of the Act against non- U.S. corporations and individuals. The accounting provisions of the U.S. Securities and Exchange Commission are reviewed, as are the anti-bribery provisions of the U.S. Department of Justice.
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Dada, O. Samuel, F. Folajimi Adegbie, J. Bolaji Shodeinde i M. Biodun Akinola. "The Relevance of Forensic Accounting Techniques in Combating Corrupt Practices in Selected Public Tertiary Institutions in Southwest Nigeria". International Journal of Research and Innovation in Social Science VIII, IIIS (2024): 1611–18. http://dx.doi.org/10.47772/ijriss.2024.803114s.
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The inability of the government to eradicate corruption in the education sector harms the standard of education in Nigeria. Evidence from the literature indicated that the dilapidated infrastructure, low standard of education, underfunding of education for research and development, and demotivation of the academic staff for productivity were attributed to corruption that has pervaded the sector in southwest Nigeria. The ineptitude of the existing audit and investigation techniques to curb corrupt practices called for the introduction of forensic accounting. The study adopted a survey research design. The population of the study consisted of 257,061 stakeholders in selected six universities and six polytechnics in southwest Nigeria, the sample size of 399 was determined using the Taro Yamani formula. A stratified sampling technique was used to administer the copies of the questionnaire to the respondents. The findings of the study revealed that forensic accounting techniques had a significant effect on corrupt practices in selected public tertiary institutions in southwest Nigeria (β= 0.299, t=7.462, p = .000); (β= 0.083, t =1.559, p=0.120); (β= 0.187, t=3.578, P=0.000). The study concluded that forensic accounting resolved corrupt practices in public tertiary institutions. The study recommended that the government should establish a forensic account, audit and investigation unit in every tertiary institution to ensure accountability and transparency in their financial operations. The administration of tertiary institutions in southwest Nigeria should institute legal action against any official caught with corrupt practices to deter others from such behavior.
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Gray, O. Ronald. "The Foreign Corrupt Practices Act: Revisited and Amended". Business & Society 29, nr 1 (czerwiec 1990): 11–17. http://dx.doi.org/10.1177/000765039002900102.
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SANNI, Michael Rotimi. "International Public Sector Accounting Standards and Deterrent of Corrupt Practices in the Public Sector of Ogun State Nigeria". Journal of Accounting and Financial Management 9, nr 5 (13.09.2023): 207–16. http://dx.doi.org/10.56201/jafm.v9.no5.2023.pg207.216.
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International Public Sector Accounting Standards (IPSAS) are expected to enhance transparency and accountability and deter corrupt practices in public sector. This study investigated the extent to which the implementation of the standards deters corrupt practices in Ogun State, Nigeria. The study adopted survey research design using questionnaire for its primary data obtained from staff in selected Ministries Departments and Agencies (MDAs) in Ogun state, Nigeria. The selected MDAs are: The Federal University of Agriculture, Abeokuta; Federal College of Education, Osiele, Abeokuta; Ogun-Oshun River Basin Development Authority, Abeokuta, and Federal Medical Centre, Abeokuta. Ogun State was chosen because of ease of access and because the state combines the features of an industrial state with those of civil service state. The sample size is 600 accounting staffers and lecturers that cut across the MDAs. Results of regression equation revealed that the standards exert positive and significant effect on deterring corrupt practices with probability values of 0.000. This study observed that the adoption of the standards alone cannot totally curb corruption in Nigeria. Constant staff trainings, political will to bring corrupt officials to book and proper use of discretionary measures in the standards are therefore strongly recommended by this study.
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Amalia, Mekar Meilisa. "Enhancing Accountability and Transparency in the Public Sector: A Comprehensive Review of Public Sector Accounting Practices". ES Accounting And Finance 1, nr 03 (31.07.2023): 160–68. http://dx.doi.org/10.58812/esaf.v1i03.105.
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This research uses a comprehensive bibliometric analysis to explore the literature on public sector accounting practices and their impact on accountability and transparency. The research used VOSviewer, a bibliometric analysis tool, to visualize and analyze the bibliometric network, revealing patterns of collaboration, influential publications, and key themes. The data collection process yielded 840 scholarly articles from leading academic databases, with a focus on English-language publications in the past decade. The results show six distinct publication clusters, each highlighting significant research themes. Cluster 1 emphasizes innovation and transparency, indicating the relevance of accounting change and performance measurement in public sector organizations. Cluster 2 centers on accounting reform and the adoption of accrual accounting practices, exploring the transition from cash-based to accrual-based accounting in the public sector. Cluster 3 studies forensic accounting and internal audit practices, reflecting the growing interest in fraud detection and risk management in public sector entities. Cluster 4 highlights the importance of information systems and efficiency in public sector accounting. Cluster 5 centers on the pressing issue of corruption in the public sector and the role of audit in combating corrupt practices. Cluster 6 explores the potential application of private sector accounting practices in the public sector. Keyword analysis identified the most frequently occurring keywords, such as "accountant", "public sector reform", "performance", and "service", underscoring their importance in the literature. Conversely, keywords with fewer occurrences, such as "transparency" and "information systems", indicate areas that require further attention and research.
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Jumardi, Jumardi, i Stefani Marina Palimbong. "Perilaku Koruptif Dalam Praktik Manajemen Laba: Sebuah Tinjauan Perspektif “Ati Mapaccing” dalam Falsafah Bugis". Jurnal Ekonomi, Bisnis dan Terapan (JESIT) 3, nr 1 (30.06.2022): 89–110. http://dx.doi.org/10.47178/jesit.v3i1.1647.
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Earnings management emerged in the field of financial accounting as a consequence of the efforts of managers or financial statement preparers to regulate the earnings cycle for personal and/or corporate interests or benefits. This study aims to gain an understanding of the opinions and behavior of informants including management accountants, public accountants, investment advisors, tax examiners and Bugis cultural observers on earnings management practices carried out by managers and viewed from the perspective of Classical Bugis philosophy. This type of research is a qualitative research with a hermeneutic approach, or more specifically an interpretive approach. Sources of data in this study are primary data and secondary data. Data collection techniques used in this research are interviews, documentation, literature study, internet searching. The data analysis technique was carried out through four paths, namely data reduction, data presentation, data validity test and conclusion drawing.The results show that in the perspective of management accountants and public accountants, earnings management practices cannot be viewed as earnings manipulation as long as these practices are carried out within the framework of accounting standards. They also argue that earnings management is not said to be corrupt behavior, unless the practice is not carried out in accordance with accounting standards. While the views of investment advisors and tax inspectors, the practice of accounting standards carried out with any pattern and strategy is a reflection of corrupt behavior because of a corrupted mind. They argue that earnings management practices are always carried out systematically based on certain motivations and interests. Earnings management is a practice that is of no value to the company's stakeholders so this practice should be avoided. Viewed from the perspective of ati mapping that earnings management can be seen from the good or bad intentions of a manager in carrying out his practice, motivation or interests that are detrimental to other parties, it can be said that the practice of earnings management is an act of fraud that can be categorized as a corrupted line of thought.
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Vanasco, Rocco R. "The Foreign Corrupt Practices Act: an international perspective". Managerial Auditing Journal 14, nr 4/5 (czerwiec 1999): 161–261. http://dx.doi.org/10.1108/02686909910269878.
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Badua, Frank. "LAYING DOWN THE LAW ON LOCKHEED: HOW AN AVIATION AND DEFENSE GIANT INSPIRED THE PROMULGATION OF THE FOREIGN CORRUPT PRACTICES ACT OF 1977". Accounting Historians Journal 42, nr 1 (1.06.2015): 105–26. http://dx.doi.org/10.2308/0148-4184.42.1.105.
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This paper examines the events that led to the passage of the Foreign Corrupt Practices Act of 1977 (FCPA 1977, or simply, the Act). Central to the narrative are the actions undertaken by Lockheed Corporation, the politico-economic context in which it operated, the international scandals that resulted from its practices, and the landmark law that resulted from these events. The paper concludes with an analysis of dramatic changes in the subsequent enforcement of FCPA 1977, and a consideration of the efficacy of this reform as viewed from various lenses provided by economics, law, philosophy, and political science.
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Shaw, Bill. "Foreign Corrupt Practices Act: A legal and moral analysis". Journal of Business Ethics 7, nr 10 (październik 1988): 789–95. http://dx.doi.org/10.1007/bf00411027.
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Olczak, Wioleta. "The foreign corrupt practices act: How investors respond when violation severity and corresponding penalty (mis)match". Advances in Accounting 54 (wrzesień 2021): 100546. http://dx.doi.org/10.1016/j.adiac.2021.100546.
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Arianto, Bambang. "AKUNTANSI FORENSIK SEBAGAI STRATEGI PEMBERANTASAN KORUPSI SUAP". Progress: Jurnal Pendidikan, Akuntansi dan Keuangan 4, nr 1 (28.02.2021): 1–16. http://dx.doi.org/10.47080/progress.v4i1.1114.
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This article aims to elaborate on the role of forensic accounting as a strategy to eradicate the criminal practicebribery in Indonesia. Forensic accounting can be used as a step to strengthen evidence by trying to collectvarious pieces of evidence through investigations into bribery corrupt practices. Forensic accounting is ascheme developed as a preventive, detective and persuasive strategy through the application of investigativeaudit procedures that are litigation for decision making in court. Thus, forensic accounting can be used as astrategy in an effort to eradicate the criminal practice of bribery corruption. This article uses the literaturestudy method by elaborating various findings on the role of forensic accounting through a variety of literatureboth journals and newsletters. This article argues that the role of forensic accounting has made a positivecontribution as a strategy in efforts to eradicate bribery corruption in Indonesia.
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Spindler, Michael S. "What You Always Wanted to Know About the Accounting Provisions of the Foreign Corrupt Practices Act (But Were Afraid to Ask)". Alberta Law Review 36, nr 2 (1.04.1998): 473. http://dx.doi.org/10.29173/alr645.
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The Foreign Corrupt Practices Act (FCPA) is the focus of this practical guide to safeguarding against improper business payments. The reader is provided with a brief history of the FCPA. along with an examination of the Act's objectives and recordkeeping requirements. Methods of ensuring compliance with the FCPA are suggested, with a focus on the communication of standards to domestic and foreign employees, agents, associates and officers.
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Wahyudi, Imam. "Culture of Corruption and Symbolic Rationality of Accounting Information – Higher Education Implication". Indonesian Accounting Review 11, nr 2 (22.07.2021): 143. http://dx.doi.org/10.14414/tiar.v11i2.2559.
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When corruption becomes daily and socially acceptable practices, the functions of financial accounting have shifted from the instrument of managerial responsibility to a symbolic rationality of actions. Professional organizations of accountants and educational institutions consider this phenomenon as an ethical issue and have made professional ethics a mandatory subject for accounting students. This study aim to gain a better understanding of the role of accounting information in a corrupt society. It also tries to gain a better understaning that the accounting higher education institutions should play their role in this context. This study uses an interpretive phenomenological approach for the analysis. It is noted that it stresses the need for higher education institutions to take additional action by criticizing accounting principles that are fundamentally very capitalistic, being more flexible to different schools of thought, and incorporating the values of divinity into all accounting subjects.
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Barth, James R., Susanne Trimbath i Glenn Yago. "Before the Enron Collapse: What Corporate CFOs Around the World Said About the Status of Accounting and Disclosure Practices". Review of Pacific Basin Financial Markets and Policies 06, nr 04 (grudzień 2003): 433–40. http://dx.doi.org/10.1142/s0219091503001158.
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Corporate Chief Financial Officers (CFOs) in many countries at different levels of development and in various parts of the world considered financial statement disclosure and corporate corruption to be serious corporate problems long before the Enron debacle. This paper presents the results of a survey of CFOs conducted across 40 countries during the fall of 2000 and the spring of 2001. Most of the respondents, including those in the United States, considered the lack of adequate disclosure of information by companies to be a bigger issue than either corrupt business practices or a lack of effective accounting guidelines. Only in the United Kingdom did more CFOs consider the lack of effective accounting guidelines to be an issue of more concern than the lack of disclosure.
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Aldredge, Melissa, i Sarah DuBois. "Back to the Basics: Financial Statement Disclosures & Reporting Requirements". International Journal of Business and Management 17, nr 8 (7.07.2022): 1. http://dx.doi.org/10.5539/ijbm.v17n8p1.
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To protect stakeholders relying on published financial statements, accounting practices, measurement techniques, disclosures and footnote requirements have been developed over the years by the Financial Accounting Standards Board (FASB) and generally accepted accounting principles (GAAP). As indicated by Saidu and Dauda (2014), the move towards adopting high quality standards was spurred by the numerous financial scandals experienced worldwide in the late 1990s. The United States government has and continues to regulate the standard-setting process and financial reporting environment of publicly traded companies to ensure investors have all relevant information to evaluate a company’s financial position and make informed decisions. This paper provides a description of the disclosure techniques available in published financial statements, and analyzes the types of financial reporting requirements promulgated by the AICPA Code of Professional Ethics and the federal securities laws of the U.S. Securities and Exchange Commission (SEC), including the Securities Act of 1933, the Securities Exchange Act of 1934, the Foreign Corrupt Practices Act of 1977, and the Sarbanes-Oxley Act of 2002.
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Posthuma, Richard A. "Analyzing Business Research on the Foreign Corrupt Practices Act: Clusters, Gaps, and Future Directions". American Business Review 25, nr 2 (16.11.2022): 221–52. http://dx.doi.org/10.37625/abr.25.2.221-252.
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This study comprehensively analyzed and summarized business-related research on the Foreign Corrupt Practices Act (FCPA). Research on the FCPA is essential because sanctions for violations have grown substantially, increasing risks for multinational enterprises (MNEs). Recent fines exceeded $1 billion, and business executives were personally fined and imprisoned (Stanford Foreign Corrupt Practices Act Clearinghouse, 2021). Unfortunately, theory-based and empirically-validated business research has not kept pace with this increased risk. Performance mapping and science mapping pinpointed the most prolific academic fields, the most cited articles, and clusters of authors, journals, and keywords. Analyses identified gaps in the literature. Prior research focused on public policy questions, like the impact of the FCPA on American companies (Shapiro, 2013), the propriety of attempting to regulate foreign business ethics, and international treaties. Moreover, significant clustering and fractionalization into legal academic silos have side-stepped business-related research topics. New and different research directions are proposed.
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Spicer, Andrew. "The Normalization of Corrupt Business Practices: Implications for Integrative Social Contracts Theory (ISCT)". Journal of Business Ethics 88, S4 (październik 2009): 833–40. http://dx.doi.org/10.1007/s10551-009-0319-2.
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Franz, Diana. "A perfect storm: how high levels of risk and weak internal controls resulted in violations of the foreign corrupt practices act". CASE Journal 17, nr 3 (9.07.2021): 419–37. http://dx.doi.org/10.1108/tcj-04-2020-0045.
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Theoretical basis This case is based on Weatherford International’s settlement with the Securities and Exchange Commission (SEC) and the Department of Justice (DOJ). Both the SEC and the DOJ were critical of Weatherford for its violations of the Foreign Corrupt Practices Act and for its “inadequate internal controls.” This case explores the Foreign Corrupt Practices Act (FCPA) violations and issues related to internal controls. Research methodology Case study. Case overview/synopsis This case is based on Weatherford International’s settlement with the SEC and the Department of Justice. Weatherford provided equipment and services in the oil and gas industry. Because international markets were growing faster than domestic markets, Weatherford made a strategic decision to pursue growth in international markets. The oil and gas industry has high levels of operating risk as did the countries that Weatherford decided to pursue operations in. However, despite the decision to take on additional risk, Weatherford failed to implement adequate systems of internal controls. The title of the case “A Perfect Storm” refers to Weatherford’s trifecta of operating in an industry with high levels of corruption risk, countries with high levels of corruption risk and failing to implement adequate internal controls despite those high operating risks (Department of Justice, 2013). Weatherford was ultimately assessed a $152m penalty for its violations of the FCPA that included bribery, volume discounts, improper payments and kickbacks. Complexity academic level Undergraduate and graduate auditing classes.
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Alali, Fatima, i Silvia Romero. "Armor Holdings Inc." Journal of Business Ethics Education 17 (2020): 291–94. http://dx.doi.org/10.5840/jbee20201720.
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The U.S. Foreign Corrupt Practices Act (FCPA) has gained significant popularity in recent years across borders due to the increased investigation and penalties under the law. The following case is a real-life case that highlights the main provisions of the FCPA. Using cases in teaching an auditing or ethics course is much needed to develop students’ professional judgment, critical and analytical thinking skills and communication skills. Presently, there are a few cases that address the Foreign Corrupt Practices Act and its effect on financial reporting and auditor responsibilities about illegal acts. The Armor Holdings case is interesting and information is publicly available regarding the circumstances that describe the bribery act, lack of whistle-blower protection, the tone at the top, and the accounting treatment. In addition, the increase in actions brought by the Securities and Exchange Commission (SEC) under the FCPA since 2010 heightens the relevance of this case and underscores the need for students to learn the skills necessary to ensure compliance with FCPA and related key regulations such as the Sarbanes Oxley and the Dodd Frank Act. Therefore, cases like this one provide a rich tool to navigate topics and enforce students’ learning of client’s illegal actions and their consequences. These skills are invaluable in practice.
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Hermanson, Heather M., i Audrey A. Gramling. "Nature's Sunshine Products: Anatomy of an FCPA Failure". Issues in Accounting Education 28, nr 3 (1.04.2013): 599–610. http://dx.doi.org/10.2308/iace-50470.
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ABSTRACT: Recently, Walmart and several other large corporations have faced allegations of Foreign Corrupt Practices Act (FCPA) violations, subjecting the companies to large fines and stock price declines. This instructional assignment introduces students to the FCPA and provides an illustration of FCPA compliance problems at Nature's Sunshine Products (Nature's). Students will (1) discuss the development, requirements, and importance of the FCPA; and (2) identify red flags at Nature's suggestive of FCPA noncompliance. This instructional assignment also includes a supplemental requirement whereby students are asked to identify ways that internal auditors could have assisted Nature's in achieving FCPA compliance. This instructional resource, which could be used in undergraduate or graduate external or internal auditing courses or in managerial or forensics courses, provides instructors with a resource for integrating real-world problems involving international business issues into the course curriculum.
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Faizabad, Arash, Mohammad Refakar i Claudia Champagne. "Corporate, social, political connections and corporate governance: A review". Corporate Ownership and Control 18, nr 4 (2021): 192–206. http://dx.doi.org/10.22495/cocv18i4art13.
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Considering the important role of connections in corporate governance quality, this review paper has investigated the effectiveness of corporate, social, and political connections on corporate governance practices. In general, the findings of this research show that networking activities in various forms positively and negatively affect corporate governance practices. As far as corporate connections are concerned, there is no consensus on the relationship between interlocked boards and firm performance. Moreover, interlocking boards are positively associated with the propagation of some governance malpractices such as earnings manipulation and options backdating. Regarding social connections, the evidence provides contradictory results regarding the effects of social ties on CEO compensation and firm performance. Finally, as for political connections, the findings related to the impact of political connections on corporate decisions and firm value are mixed. Furthermore, politically connected firms pay lower taxes; have more access to credit markets; and enjoy governmental contracts. Additionally, in some cases, political ties are positively associated with corrupt activities
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Pandey, Satish C., i Pramod Verma. "Organizational Decline and Turnaround: Insights from the Worldcom Case". Vision: The Journal of Business Perspective 9, nr 2 (kwiecień 2005): 51–65. http://dx.doi.org/10.1177/097226290500900207.
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In 2002, the entire globe was rocked by the WorldCom accounting scandal that led to the bankruptcy of the fourth-ranked Fortune 500 telecom company, and raised several questions in relation to corporate governance, ethical leadership and corrupt practices in American companies. The consequences of this famous scandal led to unrest within the ranks of investors, pension funds, banks and the public at large. Later, the company appealed to the US court for reorganization under chapter 11 of US bankruptcy code and under the leadership of the new CEO, Michael Capellas, the new company (MCI) not only reconsolidated its financial position but also overhauled all its internal systems and transformed itself from a corrupt company to an ethical one. This article presents insights learnt from this case study in the context of managing organizational turnaround. It also focuses on the role that the new chief executive played in installing an ethical work culture in the organization. The authors have used Chowdhury's four stage theory to analyze the case. They have further tried to integrate insights from other theoretical models to focus on both the process of turnaround and the role of ethical leadership in bringing about the turnaround.
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Gelbrich, Katja, Yvonne Stedham i Daniel Gäthke. "Cultural Discrepancy and National Corruption: Investigating the Difference between Cultural Values and Practices and Its Relationship to Corrupt Behavior". Business Ethics Quarterly 26, nr 2 (kwiecień 2016): 201–25. http://dx.doi.org/10.1017/beq.2016.29.
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ABSTRACT:The relationship between culture and corruption has been the focus of various studies, producing inconsistent results. We suggest that these inconsistencies might be due to the conceptualization and measurement of culture. Drawing on the possible value/fact dichotomy discussed in ethical philosophy, we introduce the construct of cultural discrepancy—the difference between cultural values (“ought”) and practices (“is”)—as a predictor of pervasive (i.e., fully institutionalized and predictable) and arbitrary (i.e., uncertain and relatively unorganized) corruption. Examining the relationship between the discrepancies observed in the GLOBE cultural dimensions and the Corruption Perception Index shows that in-group collectivism discrepancy is negatively related to pervasive corruption; future orientation discrepancy is positively related to arbitrary corruption. Further, we show that these relationships are contingent on national wealth. The negative relationship for in-group collectivism discrepancy is most pronounced in poor and moderately wealthy countries, and the positive relationship for future orientation discrepancy is most pronounced in rich countries.
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Shodeinde, J. Bolaji, O. Samuel Dada, F. Folajimi Adegbie i M. Biodun Akinola. "Forensic Accounting Techniques and White-Collar Crime in Nigeria Public Sector". International Journal of Research and Innovation in Social Science VIII, IIIS (2024): 1619–29. http://dx.doi.org/10.47772/ijriss.2024.803115s.
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The government’s inability to eradicate white-collar crimes in the public sector harms Nigeria’s economy. Evidence from the literature indicates that investors are afraid of investing in the country because of this threat. Several studies have focused on fraud as the major proxy for corrupt practices neglecting the white-collar crimes that were considered in this study. The ineptitude of existing audit and investigation techniques to curb white-collar crimes has called for the introduction of forensic accounting. This study adopted a survey design. The study population consisted of 257,061 stakeholders from six selected universities and six polytechnics in southwest Nigeria, and a sample size of 500 was determined using the Taro Yamani formula. A stratified sampling technique was used to select respondents for the questionnaire. The findings revealed that forensic accounting techniques had a significant effect on fraud occurrence (Adj R2 = 0.369, F (2, 423) 40.772, p < 0.000) and, embezzlement (Adj R2 = 0.426, F (2, 423) 53.520, p < 0.000) in Nigeria’s public sector. The study concluded that forensic accounting resolved white-collar crimes in Nigeria’s public sector. The study recommends that the government establish forensic account units in all ministries, departments, and agencies to ensure accountability and transparency in their financial operations. The administration in the MDAs should institute legal action against any official caught in white-collar crime to deter others from engaging in such behavior.
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Pelly, R. Duncan M. "The Story of Captain Baby Face and the Coffee Maker: An Entrepreneurial Narrative Perspective on Corruption". Journal of Management Inquiry 26, nr 4 (9.11.2016): 390–405. http://dx.doi.org/10.1177/1056492616675977.
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This article calls into question the frequently used negative moral labels assigned to corruption by describing gift giving as a form of narrative entrepreneurship that bridges ontologies between public service organizations. To effectively make the comparison, this article utilizes a unique methodology to explore corruption: the layered account autoethnography. The empirical setting of this story is a jointly operated military corrections facility in Iraq. It illustrates how gaps were perceived in the U.S.–Iraqi joint bureaucracy creating a space for play, and how corrupt behavior metaphorically bridged these gaps. Engaging in a minute form of gift giving provided remarkable insight into how partner organizations respond to traditional and corruption-friendly practices. This article is of benefit to practitioners and academicians alike because it illustrates at an individual level how corrupt bureaucracies function and how to promote successful interactions between alternate organizational ontologies.
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Jia, Weishi, Shuo Li i Jingran Zhao. "Kicking back against kickbacks: An examination of the Foreign Corrupt Practices Act and US foreign investment". Journal of International Business Studies 53, nr 2 (29.11.2021): 326–43. http://dx.doi.org/10.1057/s41267-021-00474-7.
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Weismann, Miriam F., Christopher A. Buscaglia i Jason Peterson. "The Foreign Corrupt Practices Act: Why It Fails to Deter Bribery as a Global Market Entry Strategy". Journal of Business Ethics 123, nr 4 (1.01.2014): 591–619. http://dx.doi.org/10.1007/s10551-013-2012-8.
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Dewi, Dyah Syahira Tara, Aisya Rahma Izzati, Kamilatul Aqilah, Hendyawan Hendyawan i Gunawan Aji. "INTERPRETASI HUKUM EKONOMI SYARIAH DALAM FIQH ANGGARAN BERDASARKAN AKUNTANSI SYARIAH". MSJ : Majority Science Journal 1, nr 3 (30.11.2023): 94–102. http://dx.doi.org/10.61942/msj.v1i3.29.
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The current global economic impact has an important impact on the welfare of a country. It's the same with corruption. In modern times, the stage of development of corrupt practices has actually started since Indonesia's independence from colonialism and even now it is not difficult to find. By using a library data collection method whose main objective is the interpretation of Syaria Economic law in budgets based on sharia accounting, which of course involves many things such as the principle of monotheism, the principle of maslahah, the principle of justice and also the urgency of budget fiqh.The application of basic principles of Islamic law in budget preparation is very important in efforts to prevent budget leaks. In this context, the existence of a fiqh budget plays an important role, not only for the interests of individuals but also for society.
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Effendi, Syarif Yusuf, i Rifki Khoirudin. "Analysis of the Corruption Effect and Public Governance on State Economic Performance (Case Study in Asia Pasific Countries)". Journal of International Conference Proceedings 5, nr 2 (1.08.2022): 428–40. http://dx.doi.org/10.32535/jicp.v5i2.1705.
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Corruption is a phenomenon that has received international attention. Corruption practices are very detrimental to the economic sector, accounting for 2% of world GDP or the equivalent of US$ 1.5 – 2 trillion lost every year due to corruption. The occurrence of corrupt practices is generally due to weak supervision of public officials and the complexity of the bureaucracy which opens up opportunities for corruption. Similar to corruption, the implementation of good governance in government also plays a role in the economic sector. In the global economy, the Asia Pacific region has the best economic prospects and is asked to be the engine of the global economy. But in terms of political integrity and governance, the Asia Pacific region is no better than other regions. Therefore, this study aims to examine the effect of corruption and public governance on the economic performance of Asia Pacific countries in 2004-2020. The results showed that the Corruption Perception Index, Regulatory Quality, and Political Stability had a positive effect on the economy. It is different with population growth which has a negative effect on the economy. Meanwhile, Participation and Accountability do not have a significant effect on the economy.
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Lawson, Bradley P., Gerald Martin, Leah Muriel i Michael S. Wilkins. "How Do Auditors Respond to FCPA Risk?" Current Issues in Auditing 13, nr 2 (1.07.2019): P21—P28. http://dx.doi.org/10.2308/ciia-52492.
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SUMMARY This article summarizes “How Do Auditors Respond to FCPA Risk?” (Lawson, Martin, Muriel, and Wilkins 2019), which investigates the pricing of audits for clients that violate the Foreign Corrupt Practices Act (FCPA). FCPA compliance has become a top priority for regulators who rely heavily on accountants as they combat illegal activity. We find that auditors charge higher fees for violators both before and during formal FCPA investigations. We also find that fees are more sensitive to accounts that are more susceptible to FCPA risk. Our findings are stronger (weaker) for clients with high (low) foreign sales. While this may seem intuitive from an audit materiality perspective, regulators are not required to prove materiality as they pursue FCPA violations (Ebright 2016). Our study should be of interest to practitioners and auditors, as the Public Company Accounting Oversight Board (PCAOB) is considering whether updates should be made to PCAOB AS 2405
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Okike, Elewechi, i Emmanuel Adegbite. "The code of corporate governance in Nigeria: Efficiency gains or social legitimation?" Corporate Ownership and Control 9, nr 3 (2012): 262–75. http://dx.doi.org/10.22495/cocv9i3c2art4.
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This paper is the first study which examines the rationale behind the adoption of corporate governance codes, the requirements of the codes and their operationalisation, and the effectiveness of the codes in addressing corporate governance abuses in the turbulent and endemically corrupt environment of sub Saharan Africa (Nigeria). It examines the extent to which the adopted Codes of Corporate Governance is as a result of international pressures or internally driven by the need for effective accountability to the shareholders, in a way which addresses the peculiar problems of corporate governance in Nigeria. Through the theoretical lens of efficiency gains and social legitmation, the paper found that the Code of Best Practices for Corporate Governance in Nigeria is driven more by social legitimacy pressures while the Code of Corporate Governance for Banks in Nigeria Post Consolidation, developed by the CBN, is predominantly aimed at pursuing efficiency gains.
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Majanga, Byson B. "Sealing Leakages of Public Funds Abuse: The Malawi “Cashgate” Case". Applied Finance and Accounting 1, nr 2 (17.03.2015): 38. http://dx.doi.org/10.11114/afa.v1i2.726.
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The accountancy profession subscribes to the values of accountability, integrity, honesty, accuracy among others and that is the reason accountants are required in any field of work to provide an independent report of how the resources are deployed to bring the outcome and assess if indeed the outcome from the use of such resources is as it had been expected by all the stakeholders. This requirement is common to all sectors of the economy, whether in the public or private sector. The paper discusses the changing role of the accountant in the public sector in response to the growing concerns of public resource abuse. Africa, Malawi in particular, has been a victim of gross resource abuse by public officers through among others fraud, corruption, theft and gross mismanagement. Malawi has recently been rated highly in terms of corrupt practices with the public sector taking a leading position leading to gross mismanagement of public resources since the dawn of democracy in 1994. The study takes a look at the changing roles of an accountant in the public sector where the control environment in the financial management system, and the political will of those in charge of the public sector, are not the same as those in the private sector. The accounting weaknesses or challenges as revealed by the reviewed audit reports are scrutinised and the role of the accountant with respect to each challenge is reviewed and recommendations suggested which if implemented, may block the future recurrence of such weaknesses in the financial management systems in the public sector.
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Weismann, Miriam F. "The Foreign Corrupt Practices Act: The Failure of the Self-Regulatory Model of Corporate Governance in the Global Business Environment". Journal of Business Ethics 88, nr 4 (10.10.2008): 615–61. http://dx.doi.org/10.1007/s10551-008-9966-y.
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Azim, Mohammad I., Kuang Sheng i Meropy Barut. "Combating corruption in a microfinance institution". Managerial Auditing Journal 32, nr 4/5 (4.04.2017): 445–62. http://dx.doi.org/10.1108/maj-03-2016-1342.
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Purpose Combatting corruption is an important social and commercial issue in most human societies. Many researchers have revealed how an effective anti-corruption practice can possibly minimise corruption in an organisation. However, studies focusing on organisations which are relatively successful in managing corruption at the employee level are relatively rare. On this note, this study aims to focus on Grameen Bank in particular, a Nobel-Prize-winning microfinance institute that was able to minimise its level of corruption among its employees in a country where corruption is the norm. Design/methodology/approach This paper uses standard economic theory to explain the perceptions and behaviours of the employees of Grameen Bank who live and work in a highly corrupt socio-cultural environment. This paper used questionnaires to ascertain the perceptions of Grameen Bank employees’ notions regarding corruption-combating behaviours. Interviews were also conducted among Grameen’s board members, managers and officers to further explore the nature and effectiveness of this organisation’s anti-corruption mechanisms. Findings Corruption can never be entirely eradicated; however, it can be diminished and opportunities for corruption can be minimised. This paper found, through an analysis of employees’ perceptions relating to governance and corruption in the Grameen Bank, that corruption exists, but there are systems in place to prevent it and to assist with staff morality. This research also uncovered a number of best practices in Grameen Bank’s governance to minimise corrupt behaviours, which include, but are not limited to, strong monitoring, decentralisation of authority, review of decision-making process, high internal audit intensity, impersonal punishment, anti-corruption cultures and transparency. Originality/value This study suggests that it is possible for organisations to resist corruption, especially microfinance institutions, even when they operate in a highly corrupt socio-cultural environment.
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Popoola, Oluwatoyin Muse Johnson, Ayoib B. Che-Ahmad i Rose Shamsiah Samsudin. "An empirical investigation of fraud risk assessment and knowledge requirement on fraud related problem representation in Nigeria". Accounting Research Journal 28, nr 1 (6.07.2015): 78–97. http://dx.doi.org/10.1108/arj-08-2014-0067.
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Purpose – The paper aims to investigate Task Performance Fraud Risk Assessment (TPFRA) and Knowledge Requirement (KR) of the forensic accountant and auditor on Fraud-Related Problem Representation (FRPR) in the Nigerian public sector. Design/methodology/approach – The study used cross-sectional design and 400 survey questionnaires. The respondents are real professional people (auditors and forensic accountants in the Nigerian public sector) as true representatives to enhance the generalization of the outcomes. A total of 36 indicator items was measured on five-point Likert scale from 1 (strongly disagree) to 5 (strongly agree). Partial Least Square – Structural Equation Modelling 2.0 3M and IBM SPSS Statistics 20.0 were used as the primary statistical analysis tool for the study. Findings – The results of the present study confirm the positive relationship between KR on TPFRA, positive relationship of KR on FRPR and positive relationship of FRPR and TPFRA. Specifically, the results revealed that FRPR positively mediates the relationship between TPFRA and KR (forensic accountant and auditor) in the areas of fraud prevention, detection and response. Research limitations/implications – The first limitation deals with fraud and corrupt practices in a developing country, Nigeria. Examining the mediating influence of FRPR on KR and TPFRA in the public sector could be considered as sensitive and raise the issue of bias. The second limitation is the adoption of cross-sectional design in which data are collected at one point in time. Researchers are encouraged to use a longitudinal design to explore interactions between KR, FRPR and TPFRA. Practical implications – This empirical study has revealed the value of KR (forensic accountant and auditor) as a significant capability requirement in the workplace. In addition, it shows the importance of FRPR as an important mental state in decision-making or judgment and also the significance of FRPR as an important mediating variable on KR and TPFRA. Originality/value – No nation is immune to fraud, and loss due to fraud in the public sector is enormous and costly; the result of this research will improve the KR of auditors and forensic accountants in the areas of fraud detection, prevention and response. It will also contribute to the regulatory, legal and institutional frameworks in accounting and auditing systems in Nigeria and portend an increase in demand for forensic accountants.
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Frey, Barbara, Bruno Škrinjarić i Jelena Budak. "Perceptions of Corruption and Informality Among Businesspeople". South East European Journal of Economics and Business 17, nr 2 (1.12.2022): 49–66. http://dx.doi.org/10.2478/jeb-2022-0014.
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Abstract This research assesses perception of corruption in business-to-business and business-to-government interactions by using empirical evidence from Serbia. Based on the survey data, it captures the perceptions of corruption of business owners and managers of small and medium enterprises (SMEs) and examines their attitudes towards informal, licit, or illicit, business practices. The typology of SMEs according to their opinion on corruption- and institutional-related obstacles resulted in three different clusters, based on several variables. Moreover, empirical findings show that business is not much hindered by regulations but with a common lack of trust in institutions, crime, and perceived corruption. SMEs are perceived as particularly affected by a negative corrupt environment where large companies are seen as the source of corruption. The findings allow for the creation of lawful and incorruptible business policies, as well as ideas on preventing the common practice of illicit trading with job positions in the public sector.
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Dobrowolski, Zbysław, Łukasz Sułkowski, Sylwia Przytuła i Martina Rašticová. "Do nepotism and cronyism have payoff boundaries? A cross-country investigation". Problems and Perspectives in Management 20, nr 2 (11.05.2022): 236–47. http://dx.doi.org/10.21511/ppm.20(2).2022.19.
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In modern business, the phenomena of “nepotism” and “cronyism” are often observed, which are usually associated with corruption in the public sector and abuse of public resources. However, these phenomena are international in scale, and no country or sector of the economy is free from them. Existing research does not identify shared and contradictory interests of individuals based on nepotism or cronyism. This study aims to fill this research gap. A research hypothesis was developed and tested in order to determine a point from which nepotism and cronyism are not beneficial to their perpetrators. The research data included Poles and Albanians. According to Transparency International (2022), the obtained results showed that Polish society is currently less vulnerable to corrupt practices than Albanians. Moreover, it was substantiated that relative altruism operates as the mechanism that explains nepotism or cronyism practices. Individuals involved in nepotism or cronyism perceive these practices as a tool to reduce the risk of their operations failing. However, the phenomena lead to long-lasting reciprocity, like in the case of corruption. This study contributes to a better contextual diagnosis of organizations and helps develop preventive strategies.
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Cakrani, Edmira, Gjergji Shqau i Dimitrios Alexios Karras. "Economics of corruption: The demand side case of Western Balkan countries". International Journal of Applied Economics, Finance and Accounting 18, nr 2 (5.03.2024): 401–10. http://dx.doi.org/10.33094/ijaefa.v18i2.1413.
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The purpose of this article is to identify some macroeconomic and institutional factors that lead to the demand for corruption in the Western Balkans. Corruption is a very negative phenomenon that distorts markets and harms economic growth. Corruption has its side of supply and demand. Both the supply and demand for corruption are influenced by many factors. Among the different indexes, the Corruption Perception Index and Control of Corruption Index are used in this paper as measures of corruption. To analyze factors that affect the demand for corruption, two econometric models are constructed, where independent variables are real income per capita, inequality gap, unemployment rate, rule of law, and government efficiency. A panel model with data for the period 2012-2022 is used to identify the most important variables affecting corruption in the Western Balkans. The results show that the index used to measure corruption affects the statistical significance of the variables, with the inequality gap and rule of law being significant in both models. The identification of factors can help the governments of these countries design policies and adopt strategies that will reduce the involvement of people in corrupt practices. There are a limited number of papers that have analysed the causes of corruption in the Western Balkans, and this paper will add value to the existing literature on this very important topic.
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Okumu, Charles Onjumi, i Anthony Fee. "Understanding the impacts of Chinese business activity in Kenya from the perspective of locals". critical perspectives on international business 15, nr 4 (7.10.2019): 361–89. http://dx.doi.org/10.1108/cpoib-06-2019-0037.
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Purpose The authors report a field study examining the perceptions of Kenyan host-country stakeholders toward activities of Chinese businesses in their country, and the consequences of this on the legitimacy that they bestow on pertinent entities. Design/methodology/approach Interviews and observations across an eight-week period of field research revealed generally negative attitudes toward Chinese businesses, with issues pertinent to moral legitimacy prominent, notably, perceptions of corrupt practices, environmental neglect and profit expatriation. Findings The authors also find evidence that these negative attitudes spilled over to contaminate Kenyans’ perceptions of their own government, which respondents associated closely with the activities of Chinese entities. Originality/value The authors extend understanding of legitimacy theory and the implications of foreign business activity by highlighting that businesses may be mistaken to believe that their international business activities are politically neutral, and while host governments may believe that the economic benefits arising from attracting foreign business activity can buttress their legitimacy, the perceived activities of these businesses, in the absence of supporting institutional frameworks, may render this counterproductive.
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Alqudah, Hamza Mohammad, Noor Afza Amran i Haslinda Hassan. "Factors affecting the internal auditors’ effectiveness in the Jordanian public sector". EuroMed Journal of Business 14, nr 3 (7.10.2019): 251–73. http://dx.doi.org/10.1108/emjb-03-2019-0049.
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Purpose The purpose of this paper is to investigate the moderating effect of task complexity on external auditors’ cooperation (EAC), top management empowerment and internal auditors’ independence, which affect internal auditors’ effectiveness in the Jordanian public sector. Design/methodology/approach This paper utilised 117 usable questionnaires from financial managers and internal audit (IA) managers of the Jordanian public sector institutions. The collected data were analysed using partial least squares-structural equation modelling (PLS-SEM). Findings The results reveal that EAC, top management empowerment, and internal auditors’ independence are the factors which positively and significantly affect the internal auditors’ effectiveness, as supported by the resource-based theory, with incomplete support for the task complexity’s role as a moderator. Practical implications The findings are important for the decision-makers and regulators in introducing new legislation and regulation for the IA profession in the Jordanian public sector. Social implications It is shown that the factors affecting the internal auditors’ effectiveness can definitely enhance their ability to achieve the role of IA in protecting public funds and limiting financial and administrative corrupt practices, particularly in the public sector. Originality/value To the best knowledge of the authors, this study is one of the first studies that addresses task complexity as an interaction effect on the factors affecting internal auditors’ effectiveness in the public sector.
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Mbeba, Nicholas, i Dr Jane Njoroge. "Determinants of the Rate of Procurement Practices on Disposal of Assets in Kenya's Public Sector: A Case of the Judiciary". International Journal of Advances in Scientific Research and Engineering 08, nr 06 (2022): 43–58. http://dx.doi.org/10.31695/ijasre.2022.8.6.5.
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Disposal of unwanted assets to the Public is an important aspect of procurement and store management in many organizations. When equipment is in surplus or obsolete, keeping it through maintenance, parking, insurance or storage may lead to exceedingthe recoverable amount which can be the result of continued use of the equipment. In Kenya, the public sector has certain disposal guidelines and procedures as stated in the Public Procurement and Disposal Act, 2005, and the Public Procurement and DisposalRegulations, 2006. The PPDA applies to all procurement of works, goods, and services, and also, the disposal of assets by all public entities. Disposal of assets in the Public sector is complex due to the multiple interests from various stakeholders against a backdrop of the objectivesit tries to achieve amidst various regulatory bodies or policies which are supposed to be observed. The main goal of this research was to make an assessment on the determinants of the rate of procurement and disposal of the assets in Kenya‟s public institutions, a case of the Judiciary. However, the objectives were used in determining the influence of procurement planning on the disposal of assets; determine how accounting and financial risks affect the disposal of the assets, and identifying the effects of the management methods chosen on the rate of disposal of assets. The study adopted a descriptive study design with a case-study approach to the Judiciary. For purposes of this study, the population of interest was 101 respondents from the Judiciary, which included the department heads, deputies, the disposal committees, and procurement and disposal staff. The study adopted a census sampling technique. The collection of primary data was done using a questionnaire research method The findings show that procurement planning, financial and accounting risks, and choice of management methods affected the rate of assets disposal in the Judiciary to a large extent, It also revealed issues such as corruption, political interference, non-adherence to the PPDA provisions, and PPOA inefficiency as impediments to assets disposal effectiveness and further the study also revealed that the legal framework and regulations had an impact on the relationship between determinants of the rate of procurement and disposal of the assets. The study recommended that The Judiciary‟s procurement department should consider scaling up efforts and work with diligence in stemming out corrupt officers, and ensure total adherence to set PPDA procedures; include strict disposal procurement planning and adopt the well-researched choice of management methods; allocate resources for update training to the procurement and finance staff, and properly explain stakeholders‟ limits and roles when dealing with assets disposal and adopt a proactive and stringent approach
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Agyei-Mensah, Ben Kwame. "Does the corruption perception level of a country affect listed firms’ IFRS 7 risk disclosure compliance?" Corporate Governance: The International Journal of Business in Society 17, nr 4 (7.08.2017): 727–47. http://dx.doi.org/10.1108/cg-10-2016-0195.
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Purpose This paper aims to examine the relationship between corporate governance, corruption and compliance with International Financial Reporting Standard (IFRS 7) risk disclosure requirements in listed firms in two Sub-Saharan Africa countries: Botswana and Ghana. This study tries to test whether the transparency level of a country has any impact on the transparency level of its firms. Design/methodology/approach The study uses 174 firm-year observations between the period 2013-2015 for listed firms in the two countries. Each annual report was individually examined and coded to obtain the disclosure of corporate risk disclosure index. Descriptive analysis was performed to provide the background statistics of the variables examined. This was followed by regression analysis, which forms the main data analysis. Findings The results suggest that the extent of risk disclosure compliance over the three-year period is, on average, 63 and 53 per cent for Botswana and Ghana, respectively. The differences in the disclosure levels in the two countries can be attributed to the different levels of corruption in the two countries. One way of hiding corrupt practices is for companies to disclose scanty information. Originality/value This is one of the few studies in Sub-Saharan Africa that tests the transparency levels of listed firms in the two countries by considering the impact of corporate governance factors on IFRS 7 risk disclosure compliance. The findings of this study will help market regulators in Ghana, Botswana, the Sub-Saharan Africa Security and Exchange Commission (SEC) and the Sub-Saharan Africa exchanges in evaluating the adequacy of the current disclosure regulations in their countries.
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Andreff, Wladimir. "The unintended emergence of a greed-led economic system". Kybernetes 48, nr 2 (4.02.2019): 238–52. http://dx.doi.org/10.1108/k-01-2018-0018.
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Purpose This paper aims to propose a new model of economic behaviour in which activities are led by greed rather than by the traditional formal rules of capitalism. Design/methodology/approach This paper relies on the empirical observation of bad practices that developed in synchrony during the collapse of the former communist economic system and the rise of global financial capitalism. Both were fuelled by greedy behaviour of asset grabbing, and paved the way to an emerging greed-led economic system. Findings First, microeconomic individual greedy behaviours that drive asset grabbing are identified, such as rigged or corrupt privatisation drives, subprime mortgage loans, Ponzi schemes, lending to insolvent clients, bad loan securitisation, stock options, fraudulent accounting and online betting on fixed matches. Then systematic changes in the traditional formal rules of capitalism that favour those having adopted a greedy strategy are pointed at; greedy behaviour is institutionalised when these capture the state and successfully lobby for rules change. Contrary to capitalism, systemic greed uses asset grabbing, instead of capital accumulation, as its major means for wealth maximisation without constraint, in a winner-take-all economy beneficial to oligarchs. Research limitations/implications The implications of this new systemic behaviour have implications for further economic modelling. Practical implications The emergence of systemic greed will have implications for the design of regulatory systems. Originality/value This paper proposes that a greed-controlled economy is replacing the traditional capitalist economy.
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Alozie, Christopher Enyioma. "Fund accounting and government-wide financial reporting during the Pre-IPSAS implementation era from a Nigerian experience". Journal of Public Budgeting, Accounting & Financial Management 32, nr 3 (3.06.2020): 339–58. http://dx.doi.org/10.1108/jpbafm-01-2019-0017.
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PurposeThis paper assessed accuracy level in accounting for government funds in Nigeria's federal treasury and their faithful presentation in government financial reporting. It aimed to determine whether the reported annual balances in Nigeria's financial reporting were reliable or otherwise. Data used in analysis were obtained from secondary sources from federal treasury.Design/methodology/approachEx-post “facto” analysis method was adopted in the study involving the use of statistical techniques of absolute or aggregate mean percentage error derived from differences between recomputed and published fund balances and was employed. This was augmented with interactive review meetings of the initial case research report with the management of Nigeria's audit agency.FindingsResults distilled from the consolidated revenue fund (CRF), development fund and public debt show that recomputed values were greater than the fund balances in the gazetted financial statements. Results for contingency fund (CTF), federation account fund (FAF), special trust fund (STF) and sundry deposit fund yield equal figures and accurate. The paper concludes that there were serial understatements of the core public fund balances in the financial statements over the years. This trend of reporting incorrect in three core public funds in financial statements rendered Nigeria's financial position unreliable in the affected years for decisions. It also facilitated frauds, mismanagement of funds and corrupt practices.Research limitations/implicationsThe scope of the research is restricted to assessment of degree of accuracy in fund accounting, faithful representation of the respective fund balance in the liabilities side of FGN balance sheet and the reliability of the financial position. But, it did not consider or cover the implementation of International Public Sector Accounting Standards (IPSASs) in federal treasury since FGN had not issued any full IPSAS–oriented financial statements as on 2015.Practical implicationsIdentification of deficiencies in fund account balances, structural defects in fund accounting and acts of understatement of carrying balances in CRF and capital development fund (CDF) implies that the aggregate core fund liabilities reported in financial statement of government entities without corresponding assets do not actually reflect a true and fair financial position in some countries. It reveals remarkable degree of financial information asymmetry in government financial reporting. Illusionary fund accounting has direct linkage to poor fiscal governance in many sovereign with associated sub-optimal delivery of public goods and service level distress syndrome in many economies; lead to poverty, unemployment, crisis and macroeconomic disturbances.Social implicationsThe study contributes to the development of fund accounting system; strengthening government financial reporting architecture and practices. It provides framework for tracking financial information asymmetry in government financial reporting and mismanagement of public funds. It provides platform to effect necessary adjustment (correction) during the “first time 3-year adoption” adjustment window in Nigeria. Flowing from the findings, it advocates for institutionalization of government fund accounting standards and provides evidence for migration to accrual accounting system in countries that have not already implemented it. Evaluation system developed herein will improve fund management in federal treasury and contribute to efficient public financial management, good governance and enhance development of public accounting practice.Originality/valueThis exploratory empirical research is the one to ever evaluate accuracy level of fund accounting in sovereign entities and faithful representation in government's financial position prior to implementation of accrual accounting and financial reporting. The study established substantial level of illusionary accounting for public funds and information asymmetry in published government's financial reporting. It is necessary to rectify these discrepancies in fund accounting and financial reporting prior to and or during the first three years of the IPSAS transition implementation programme. These research deliverables provide adopters with relevant data for adjustment accounting during the transition period in strengthening public financial reporting in order to realize the benefit of full IPSAS accrual accounting.
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Farooq, Omar, i Nermeen F. Shehata. "Does external auditing combat corruption? Evidence from private firms". Managerial Auditing Journal 33, nr 3 (5.03.2018): 267–87. http://dx.doi.org/10.1108/maj-08-2017-1634.
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Purpose This paper aims to document whether firms with audited financial statements pay lower bribes to get contracts than firms without audited financial statements. In other words, this study assesses whether external auditing helps combat corruption. Design/methodology/approach The World Bank Enterprise Survey data covering the period between 2006 and 2014 is used. The total sample comprised more than 50,000 firms in 126 countries. Findings This paper finds that firms with audited financial statements pay significantly lower bribes compared to firms with unaudited financial statements. The results are robust across various estimation procedures, various proxies for bribery and various sub-samples. It is also found that the relationship between audited financial statements and bribery is more pronounced in environments where firms face higher pressure to engage in corrupt practices. Practical implications The results imply that auditing of financial statements can act as a disciplining device to curb bribery in environments that encourage corruption. Originality/value This paper is the first attempt, according to the authors’ knowledge, to examine the relationship between external auditing and corruption using firm-level data that cover 126 countries and is gathered over a 14-year period. Therefore, the results derived from this study are generalizable.
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Lee, Soonja. "A study on the system status of social enterprises and anti-corruption measures". Korea Anti-Corruption Law Association 6, nr 2 (31.08.2023): 99–129. http://dx.doi.org/10.36433/kacla.2023.6.2.99.
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Korea promotes, supports, and regulates social enterprises through the Social Enterprise Promotion Act. In this Act, a “social enterprise” refers to a company that engages in business activities such as production and sales of goods and services while pursuing social goals such as improving the quality of life of local residents by providing social services or jobs to the underprivileged or contributing to the local community. It is an enterprise. In general, businesses pursue profit, while social enterprises pursue profit, but they also have the purpose of solving social problems or creating social values through business activities, so they receive various support from the government or local governments.
However, social enterprises engage in corrupt practices in various fields, such as overcharging labor costs, fraudulent receipt of subsidies for job creation projects, accounting fraud, improper use of support funds, fraudulent subsidies, fraudulent business development expenses, operational corruption, fraudulent receipt of social insurance premiums, and use of subsidies unrelated to business purposes. are doing
Due to such corruption, the value of social enterprises is being devalued, and it can be evaluated that corruption is so widespread that the government has discussed reducing subsidies to social enterprises.
In Ⅱ below, the concept, characteristics, and typology of social enterprises were reviewed, and the goals and roles pursued by social enterprises, the method of creating social values, and the sustainable social influence of social enterprises were considered. In Ⅲ, what is corruption in social enterprises is defined, and the causes of corruption, cases of corruption, and problems caused by corruption are mentioned. In Ⅳ, the regulation on sanctions in case of corruption was reviewed in the Social Enterprise Promotion Act, and the revision of this law was presented to prevent corruption, and solutions were presented by dividing it into internal and external measures.
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Popoola, Oluwatoyin Muse Johnson. "Preface to the Volume 2 Issue 1 of Indian-Pacific Journal of Accounting and Finance". Indian-Pacific Journal of Accounting and Finance 2, nr 1 (1.01.2018): 1–3. http://dx.doi.org/10.52962/ipjaf.2018.2.1.43.
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It is a pleasure and admiration to welcome you to the Volume 2 Issue 1 of Indian-Pacific Journal of Accounting and Finance. In this Issue 1, the emphasis is placed on forensic accounting, accounting, auditing and corporate governance.
In the first paper captioned “Mitigating Corruption Using Forensic Accounting Investigation Techniques: The Watchdog Perspectives”, Mr. Naziru Suleiman (Department of Accounting, Abubakar Tafawa Balewa University Bauchi, Nigeria) and Dr. Aidi Ahmi (Tunku Puteri Intan Safinaz School of Accountancy, Universiti Utara Malaysia) adopt qualitative research methodology based on in-depth interviews with experts from two prominent anti-corruption agencies to examine the efficacy of the technique. Data collected were manually coded and analysed using thematic analysis. Through rigorous within the case and cross-case analyses of the 24 interviews conducted, two themes emerged as the findings to the study. Forensic accounting is considered an appropriate technique for adequately investigating public sector corruption and at the same is suitable for court purposes in the prosecution and conviction of corrupt officers. Finally, the study recognises the need to enhance the capacity of the investigators through training and retraining as well as through the provision of the latest equipment for fighting corruption.
In the second paper with a title “Internal Audit Functions: An empirical study of Public and Private Sectors in Nigeria”, Mr. Abdulkadir Madawaki (Department of Accounting, Al-Qalam University Katsina, Nigeria), Dr. Aidi Ahmi (Tunku Puteri Intan Safinaz School of Accountancy, Universiti Utara Malaysia) and Dr. Halimah @ Nasibah Ahmad (Tunku Puteri Intan Safinaz School of Accountancy, Universiti Utara Malaysia) examine the similarities and differences between the public and private sectors internal audit functions in Nigeria. The features examined include the hierarchical position of the internal audit functions, outsourcing of internal audit activities, reporting relationship of the internal auditor, and the coordination between internal and external auditors. A survey of internal audit managers of both sectors was undertaken to establish their current practices. The results revealed that there are no much differences in the hierarchical positioning of the internal audit function in both sectors. A substantial difference was found in the reporting lines of internal auditors in both sectors. The results further showed that private sector outsources internal audit activities more than the public sector and a slight difference exists between the two sectors about the level of coordination between internal and external auditors. Finally, the result indicated that private sector experience a reduction in external audit fees compares to its counterpart in the public sector.
In the third paper entitled “The moderating effect of working capital management on the relationship between working capital determinants and firm performance”, Dr. Ahmad Rizal Mazlan (School of Economics, Finance and Banking, Universiti Utara Malaysia) and Dr. Choong Yuen Leng (Othman Yeop Abdullah Graduate School of Business, Universiti Utara Malaysia) examine working capital management moderating role on the relationship between the critical determinants of working capital and firm performance among 282 public-listed manufacturing firms in Malaysia for the period of 2010 to 2014. In this study, working capital management components are categorized into working capital requirement and net liquid balance. The evidence suggests that the relationship between critical determinants of working capital and firm performance is moderated by both working capital requirement and net liquid balance. Further, the results show that the research framework does form a contemporary working capital management model.
In the fourth paper captioned “Firm Performance, Ownership Structure, and CEO Selection: The Case of Nigeria”, Yahya Uthman Abdullahi (Tunku Puteri Intan Safinaz School of Accountancy, Universiti Utara Malaysia), Dr. Rokiah Ishak (Tunku Puteri Intan Safinaz School of Accountancy, Universiti Utara Malaysia), and Dr. Norfaiezah Sawandi (Tunku Puteri Intan Safinaz School of Accountancy, Universiti Utara Malaysia) examine the effect of ownership structures, corporate performance and board political connectedness on CEO selection. The sample of the study is all Nigerian non-financial firms from the year 2011 to 2015, and consisting of 72 CEO selection events. This study uses logistic regression analysis to provide evidence that firms dominated with blockholder ownership favour external successors while managerial ownership-controlled firms are inclined to select internal candidates as successors. However, this study fails to support the argument that corporate performance and board political connectedness do influence the choice of CEO selection in the Nigerian public listed companies. In sum, the findings suggest that blockholders and managerial ownership significantly influence the choice of the origin of the successor CEOs in the Nigerian corporate landscape. This paper enriches the literature about CEO selection choices in developing economies with weak corporate governance structure like Nigeria. In addition, the findings from this study could be of immense benefit to the shareholders and corporate board members in deciding on recruiting their CEOs; and the regulatory agencies in the formulation and enforcement of reforms that guarantee good corporate practices by the boards
In the fifth paper with the title “The impact of Audit Committee, Firm Size, Profitability, and Leverage on Income Smoothing”, Dr. Veronica Indrawan (Tarumanagara University, Tanjung Duren Utara, Indonesia), Prof. Dr. Sukrisno Agoes (Tarumanagara University, Tanjung Duren Utara, Indonesia), Dr. Hisar Pangaribuan (Adventist University of Indonesia, Bandung, Indonesia), and Dr. Oluwatoyin Muse Johnson Popoola (Tunku Puteri Intan Safinaz School of Accountancy, Universiti Utara Malaysia) examine the impact of the audit committee, firm size, profitability, and leverage on income smoothing in manufacturing companies listed in Indonesia stock exchange for the period of 2013-2015. Regression statistics are employed to analyse the secondary source of data collected from the annual report of the companies. Measurement of income smoothing is proxied by discretionary accruals. The results reveal that the firm size has a direct positive influence on income smoothing in the listed manufacturing companies in Indonesia. In essence, the more significant a firm size, the more actively performed income smoothing practices. In contrast, profitability indicates an adverse effect on income smoothing in the listed manufacturing companies. The adverse effect indicates that the higher the profit generated, the lesser the income smoothing practices performed. Similarly, leverage posits an adverse effect on income smoothing in the manufacturing sector. This indicates the smaller the risk of companies debt, the more exceptional the practice of income smoothing occurs. The audit committee size similarly shows a negative influence on income smoothing in the listed manufacturing companies. This finding indicates the larger audit committee size, the smaller practice of income smoothing. This occurs because the audit committee oversight function on financial reporting is more efficiently performed. The result of this research shows the contribution to theory, practice, and method, especially in developing countries
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Abeki, Dr Solomon, i Abubakar Sadiq Aliyu. "The Influence of Tone at the Top on Financial Statement Fraud of Listed Manufacturing Firms in Nigeria". International Journal of Research and Innovation in Social Science VII, nr IX (2023): 1221–42. http://dx.doi.org/10.47772/ijriss.2023.71002.
Pełny tekst źródłaStreszczenie:
Financial statements prepared by the management remains the umbilical cord that connects the financial health of an enterprise to the various stakeholders who rely on them to take informed economic decision. However, the contemporary global business community has unimaginably been submerged in the recent wave of the shocking death of notable corporate entities sooner after the publication of juicy profits which metamorphosed from the poor and ineffective tone at the top orchestrated by top management in collaboration with the independent external auditors. Most of these corporate collapses were associated with the top management with widely exercised corrupt practices. The inefficient or nonexistence of tone at the top in most of entities contributed to the widespread violations and exploitation of accounting loopholes. These apparent upsurge of recently doctored financial statements frauds have resulted in the impairment of firm’s productivity, operational efficiency, damages reputation for businesses, heavy financial losses, collapse of an entire organization and have severely eroded the stakeholders’ confidence and public trust. The thrust of this study is to establish and develop efficient and formidable tone at the top that will help to ameliorate financial statement fraud rascality in the quoted Nigerian manufacturing sector. Ethical leadership strategy, corporate ethical culture and risk management practices were used as the proxies of tone at the top while improper revenue recognition dimension of the financial statements fraud. The researchers adopted correlational survey design for the study and used primary data via structured questionnaire. The null hypotheses were formulated and tested at 0.05 level of significance and other data were analyzed by Pearson Product Moment Correlation and multiple linear regression model with the aid of Statistical Packages for the Social Sciences version 25. The study found that all the tone at the top proxies; Ethical leadership strategy, corporate ethical culture and risk management practices positively and significantly related to improper revenue recognition of quoted Nigerian manufacturing companies in the period of this study. The study concludes that tone at the top effectively and significantly related with the financial statement fraud. We recommend that the policymakers to prompt manufacturing companies in the country to develop strategies for tone at the top with strong ethical approach where employees will be trained and re-trained on the need always to do what is rightful and needful at every moment in the society and workplace. We also suggest that the parents should give their wards very good upbringing so that they can be useful in society and will be free from all social vices such as fraud.
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Kuchabskyi, Nazariy. "Wages in the system of economic relations of sustainable development: separate issues". Galician economic journal 88, nr 3 (2024): 50–57. http://dx.doi.org/10.33108/galicianvisnyk_tntu2024.03.050.
Pełny tekst źródłaStreszczenie:
The article analyzes individual issues of wages in Ukraine in conditions of sustainable development and war. The low level of wages does not contribute to development and social transformations. The average salary level in the country is much lower compared to European countries. This reduces the purchasing power of the population and the general standard of living of individual citizens. At the same time, a significant part of the economy functions in the shadow, that is, without official accounting. Workers who receive an «envelope» salary do not have social guarantees and protections, such as pensions and paid holidays. There are significant disparities in the level of wages between different regions and industries, salaries in large cities are significantly higher than in rural areas and IT specialists – than other workers. Employers often do not index wages in accordance with the level of inflation, which leads to a decrease in the real purchasing power of employees. The tax burden on wages is very high, which reduces the net income of workers and can encourage shadow payments. Low productivity is often the reason for low wages. Business cannot pay high wages due to lack of innovation and low production efficiency. The high level of labor migration during martial law, especially of youth, blue-collar workers and skilled workers, to other countries where wages are higher creates a labor shortage in Ukraine and affects the labor market. Corrupt practices in the system of financial distribution and an ineffective management system can lead to an unequal distribution of budget resources, and therefore opportunities for workers to receive decent wages. These problems require a comprehensive approach to the solution, including economic reforms and changes in the legal framework for the remuneration of individual employees and motivations for this business. Based on the review of the literature and the regulatory field of regulation of the best practices of payment of labor in Ukraine, it was determined that the reduction of the tax burden on wages contributes to its legalization, and therefore to the filling of local and state budgets. The advantages of remuneration in the special legal regime of Diya.City, which was designed to support, stimulate and practical development and improvement of the IT industry in Ukraine, were studied. It provides significant tax, certain labor and other preferences and benefits. They stimulate the growth of the technological IT environment, attracting investments and increasing innovation.
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Çelik, İsmail Erkan. "The Relationship Between Accounting Practices and Effects of Financial Crisis in Turkey: A Case Study on an Oil Company". EMAJ: Emerging Markets Journal 6, nr 1 (2.02.2016): 47–58. http://dx.doi.org/10.5195/emaj.2016.96.
Pełny tekst źródłaStreszczenie:
Many reasons lie at the base of all financial crises from the past to the present. If we take into consideration the 2008 subprime mortgage crisis, the only reason cannot be mortgage loans. But the mortgage issue continued to advance and created several other problems. Definitely, the source of mortgage loans problem also had many roots. One of the reasons was the lack of correct use of accounting principles and auditing. This is a strong proof and indicator that, there are many accounting based reasons behind the occurrence of the financial crises. Many examples can be given showing moving away from the basic principles of accounting rules and the general accounting concepts. Moreover, institutions being not fully independent, running creative accounting practices, having problems with fair valuation and transparency issues, presenting unreal financial reports, and sharing misleading audit reports are all related to financial crises.Furthermore, specific businesses and people abuse accounting rules, standards and related legislation for the sake of their own interests. Accounting and finance history has shown us that, even audit institutions, credit institutions and rating agencies are getting unfair advantages and generating unethical cash by making intentional accounting and finance errors, which is actually categorized as fraud.The aim of this study is to analyze financial crises and to determine if accounting practices have any relationship with financial crises. The research investigated an oil company’s financial and operational indicators before and after the 2008 financial crises with related tables and figures. Also, an interview was run with the company’s accounting officer. Based on the statements of firm’s accounting officer, correct accounting practices defended firm from several negative effects of the 2008 financial crisis.