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| Author | : Mariana Man |
| Publisher | : Infinite Study |
| Total Pages | : 21 |
| Release | : |
| Genre | : |
| ISBN | : |
One of the key factors affecting the efficient use of resources, the increase of shareholders confidence in the managers of the company, the success in achieving objectives and economic efficiency is the system of corporate governance by which a company is managed and controlled.
| Author | : Dimitris N. Chorafas |
| Publisher | : Elsevier |
| Total Pages | : 497 |
| Release | : 2006-04-03 |
| Genre | : Business & Economics |
| ISBN | : 0080461662 |
Written for managers and professionals in business and industry, this book helps the reader in: * Understanding what is and is not IFRS * Learning the complexities of IFRS implementation * Appreciating the contribution of IFRS to corporate governance The changeover from the mosaic of different heterogeneous national accounting standards to the International Financial Reporting Standards has not been easy. For many companies IFRS, and most particularly the concept of fair value in IAS 39, has amounted to a phase shift – which is prerequisite to achieving compliant financial reporting. The research conducted by Dr. Chorafas for this book, documented that the process of meeting IFRS requirements presents opportunities and challenges to all enterprises. As many companies have found out, abandoning the classical accruals accounting for marking-to-market their transactions and portfolio positions, has not been easy. The conversion process has affected several functions within the organization including balance sheets, P&L statements, auditing, risk control, information systems, and management accounting. This book is in made up of four parts: * Part One focuses on business competition, standards boards, corporate accounting, and IAS 39 * The theme of Part Two, is the implementation of IFRS, exemplified through case studies on task forces and practical applications * Part Three brings together IFRS and management accounting requirements, with emphasis on fair value. * Part Four addresses itself to the contribution IFRS can make to better corporate governance, and to rebuilding the balance sheet The book has many case studies based on actual experiences. These range from the implementation of IFRS directives such as hedge accounting, to developing practices of real-time balance sheets; the help provided by sophisticated accounting solutions help in stress testing; and a comprehensive definition of the role of the audit committee. * A clear and practical view of the complexities of IFRS implementation * Includes practical case studies from real-life companies going through the process * Pays particular attention to IAS 39 on Fair Value
| Author | : Shane Nicholls |
| Publisher | : |
| Total Pages | : 0 |
| Release | : 2020 |
| Genre | : |
| ISBN | : |
The overall objective of this dissertation is to investigate the interface between both firm- and country-level corporate governance mechanisms and fair value accounting for a sample of international financial institutions in the post-financial crisis period. In order to meet this objective, I conduct two studies investigating different aspects of the fair value hierarchy and the role of corporate governance. The first study investigates the impact of firm- and country-level corporate governance mechanisms on the relevance and reliability of the estimates provided by the fair value hierarchy. This is examined for a sample of publicly listed banks from Canada and the European Union and extends the scant literature on the interface between corporate governance and fair value accounting. The results show that, contrary to prior research, investors do not consider level 3 fair value estimates to be reliable enough to be incorporated into firm value and thus, are not value relevant. Further testing, however, reveals that corporate governance mechanisms act in such a manner as to increase the perceived reliability of level 3 fair value estimates such that investors do consider them to be value relevant. Moreover, the results suggest that, in the context of value relevance decisions, firm- and country-level governance mechanisms act as substitutes for one another. The second study investigates the potential for the fair value hierarchy to act as an alternative vehicle for earnings management in banks, and the role that firm- and country-level corporate governance plays in impacting the relationship between two competing earnings management methods. Extant earnings management literature on financial institutions focuses on the use of the loan loss provision to manage earnings. However, the recent change in accounting standards towards fair value accounting has provided an alternative vehicle for earnings management, specifically through level 2 and level 3 fair value measurements. The results show that level 2 fair values do not appear to be a viable tool to manage earnings. However, after accounting for the effect of either firm- or country-level corporate governance, the results suggest that level 3 fair values can act as an alternative earnings management tool. Managers faced with high (low) governance report lower (higher) levels of discretionary loan loss provisions as the proportion of level 3 assets increases. Moreover, additional analyses provide preliminary results suggesting that, in the context of earnings management, firm- and country-level governance mechanisms act as complements for one another.
| Author | : Krista Fiolleau |
| Publisher | : Business Expert Press |
| Total Pages | : 120 |
| Release | : 2010-02-15 |
| Genre | : Business & Economics |
| ISBN | : 1606491326 |
This book is designed for corporate directors and senior executives who want to gain a better understanding of accounting. Corporate directors and managers are under pressure from recent changes in the law (especially The Sarbanes-Oxley Act 2002) and demands by shareholders and the public to be more informed, vigilant and involved in the governance of business organizations.
| Author | : Roberto Di Pietra |
| Publisher | : Springer Science & Business Media |
| Total Pages | : 424 |
| Release | : 2013-11-05 |
| Genre | : Business & Economics |
| ISBN | : 1461480973 |
Since 1998, the world’s leading experts on accounting and regulation have convened in a series of workshops to explore and analyze emerging issues in the field. They have covered a wide array of topics, including corporate governance, auditing, financial disclosure, international standards boards, and the dynamics of markets and institutions. Most recently, they have focused on the role that accounting practices and policies may have played in the global financial crisis of 2008. In this volume, the editors showcase contributions from the workshops that represent the full spectrum of issues and perspectives relating to accounting and regulation. Each paper incorporates the most current examples and references to reflect the latest insights, with an emphasis on exploring future implications for theory and research, practice, and policymaking.
| Author | : Thomas A. Lee |
| Publisher | : John Wiley & Sons |
| Total Pages | : 309 |
| Release | : 2007-04-02 |
| Genre | : Business & Economics |
| ISBN | : 0470026812 |
The aim of the book is to give non-accounting students a basic ability and confidence to read and use financial accounting reports and statements within their business or financial specialties. Many employees in business today are expected to be conversant with reported accounting information as part of their regular job responsibilities. However, they often have little formal training in using such information. For example, in most Western countries, corporate directors and senior executives are legally responsible for the content and quality of publicly reported accounting statements, yet typically have no accounting background or experience to help in the discharge of these responsibilities. The theme of the book is financial reporting as an essential and significant part of corporate governance. There is continuous pressure on companies from government and stakeholder groups to improve their governance and accountability structures and procedures. This book reveals how financial statements and related disclosures assist in good governance and accountability by providing relevant and reliable accounting signals of managerial performance.
| Author | : Pauline Weetman |
| Publisher | : Routledge |
| Total Pages | : 422 |
| Release | : 2020-02-19 |
| Genre | : Business & Economics |
| ISBN | : 0429774613 |
This textbook provides a comprehensive overview of international corporate reporting which enhances students’ understanding of diversity and convergence in the field. The authors discuss the institutional and cultural context in which international corporate reporting has developed over the years as well as the global reach of IFRS Standards from the IASB throughout and beyond the European Union, into interest groups and emerging economies. Other key elements explored throughout the book include assurance through auditing and corporate governance, narrative reporting, strategic and corporate social responsibility, group accounting, current accounting issues and taxation in corporate reports. Indicative research examples show how the methods used in research papers may be understood and applied. Case studies outline short projects based on corporate cases, with related links to material on corporate websites. Helpful and reliable sources of information and data are identified through hyperlinks to accessible websites. End-of-chapter questions encourage discussion of the main issues. Throughout there is a focus on accountability and the information needs of stakeholders. This new edition of a classic text is fully revised and updated in order to remain essential reading for students of international accounting and corporate reporting globally. The book will be an invaluable resource for postgraduate taught programmes and final-year undergraduate courses in accounting, finance and business studies.
| Author | : Michel Aglietta |
| Publisher | : Edward Elgar Publishing |
| Total Pages | : 320 |
| Release | : 2005-01-01 |
| Genre | : Business & Economics |
| ISBN | : 1845425472 |
Recent corporate governance scandals have brought to the fore the inherent contradictions of a capitalism dominated by financial markets. This challenging book by Michel Aglietta and Antoine Reberioux argues that capitalism's basic premise - that companies must be managed in the sole interest of their shareholders - is incongruent with the current environment of liquid markets, profit-hungry investors and chronic financial instability.
| Author | : Stella Fearnley |
| Publisher | : John Wiley & Sons |
| Total Pages | : 471 |
| Release | : 2011-08-04 |
| Genre | : Business & Economics |
| ISBN | : 1119973759 |
The regulatory framework for financial reporting, auditing and governance has changed radically in recent years, as a result of problems identified from the Enron scandal and more recently from the drive to implement global standards. In a key regulatory change, a company audit committee is now expected to play a significant role in agreeing the contents of the financial statements and overseeing the activities of the auditors. Finance Directors, Audit Committee Chairs and Audit Engagement Partners are required to discuss and negotiate financial reporting and auditing issues, a significant process leading to the agreement of the published numbers and disclosures, and to the issuing of the auditor's report which accompanies them, but which is entirely unobservable by third parties. Reaching Key Financial Reporting Decisions: How Directors and Auditors Interact is a fascinating, behind-the-scenes examination of this closed process. The authors draw on the results of face to face interviews, and an extensive survey of finance directors, audit committee chairs and audit partners, and present nine company case studies highlighting the process of discussion and negotiation and the methods by which the agreed financial reporting outcome was reached. Detailed analysis of the case studies: Allows those involved in the process to benchmark their behaviours against those of others Enables a comparison between the previous and current regulatory environments to see what has changed, and sheds light on the sorts of behaviours the current regulatory framework encourages Evaluates the effectiveness of the changed regulatory regime, providing evidence relevant to current policy debates concerning the value of audit, IFRS and the relative merit of rules-based versus principles-based accounting standards in relation to professional judgement and compliance The unprecedented access and unique insights offered by this book make it invaluable for audit firm staff and partners, audit committee chairs and company directors involved in agreeing the published financial statements, as well as those who have an interest in the financial statements, but do not have access to the negotiation process.
