Indigenous reporting of a national housing corporation

2018 ◽  
Vol 36 (2) ◽  
pp. 221-233 ◽  
Author(s):  
Alistair Brown
Keyword(s):  
Papua New Guinea ◽  
Financial Reporting ◽  
Local Level ◽  
New Guinea ◽  
Financial Statements ◽  
Financial Reports ◽  
Content Type ◽  
Housing Corporation ◽  
Regulatory Instruments ◽  
National Housing

Purpose The purpose of this paper is to assess the level of reporting compliance achieved by the National Housing Corporation (NHC) of Papua New Guinea in terms of local indigenous reporting expectations. Design/methodology/approach Testing of a framework of indigenous accountability through indigenous enactments and regulations is conducted by textual analysis, which is informed by the theory of indigenous alternatives to assess the financial reporting compliance of the NHC of Papua New Guinea’s financial statements for years ending 2004-2013. Findings Documentary evidence of the state auditor reports of the NHC’s financial statements reveals that the corporation’s financial reports are not submitted for audit on a timely basis and receive disclaimed audit opinions. Despite the clear indigenous reporting expectations raised by local legislative and regulatory instruments, the NHC is unable or unwilling to provide an accurate account of their activities. Practical implications The lack of compliant reporting suggests that the planning, management and monitoring of the housing needs of residents of Papua New Guinea are compromised. There also appears merit in asking why parliament continues to fund the corporation given its difficulties in meeting local-level reporting expectations. Social implications The results have wider implications for the reporting ideologies of indigenous-run housing corporations operating in other developing countries. It might be fruitful to meet local reporting expectations before taking on the specialized reporting that accompanies introduced western-oriented policies on housing. Originality/value Accountability in relation to indigenous property management is constructed through a lens of reporting issues facing a developing country housing corporation.

scholarly journals Accounting conservatism and uncertainty in business environments; using financial data of listed companies in the Tehran stock exchange

2020 ◽  
Vol 5 (2) ◽  
pp. 179-194
Author(s):  
Marziyeh Hejranijamil ◽  
Afsane Hejranijamil ◽  
Javad Shekarkhah
Keyword(s):  
Financial Reporting ◽  
Business Strategy ◽  
Stock Exchange ◽  
Financial Statements ◽  
Accounting Conservatism ◽  
Financial Data ◽  
Financial Reports ◽  
Content Type ◽  
Business Environments ◽  
Natural Mechanism

PurposeApplying conservatism to the preparation of financial statements has been considered not only as a natural mechanism to protect the interests of the stockholders but also as a practical way to assist managers to deal with uncertainty in business environments. This study aimed to determine if increasing uncertainty can lead to raising the level of conservatism used in preparing financial statements. The result of the study could provide a better understanding of the factors that influence the level of applying conservative methods in accounting and financial reporting.Design/methodology/approachThe model introduced by Basu (1997) was used to measure accounting conservatism. Business strategy and alertness were considered as two proxies for classifying companies according to their level of uncertainty. By adding each proxy of uncertainty to the model and using the financial data of 183 companies for five years (from 2013 to 2018), the multiple regression models were estimated through EViews. It was assumed that inert companies and those with prospector strategy face a higher level of uncertainty. Consequently, they were expected to report their financial status conservatively.FindingsFindings revealed that companies, which adopted a prospector strategy, applied more conservative methods in their financial reports. This indicated that facing wider uncertainty results in reporting more conservatively, which could not be said about inert companies.Originality/valueThe current research is the first research undertaken in a developing country such as Iran, and the study's results may benefit other developing countries.

scholarly journals Content requirements for narrative reporting in the public sector: a contextual perspective

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Benson Igboke ◽  
Razaq Raj
Keyword(s):  
Public Sector ◽  
Service Delivery ◽  
Financial Reporting ◽  
Information Needs ◽  
Financial Statements ◽  
Financial Reports ◽  
Content Type ◽  
The Public ◽  
Narrative Reporting ◽  
The Impact

Purpose Accounting literature is definite about the content and presentation of traditional financial statements, but the basic information to be provided in the narrative reports of public sector entities remains unsettled. This paper aims to investigate the needs and expectations of stakeholders (primary users and preparers) regarding the content and presentation of narrative reports in the public sector of Nigeria. Design/methodology/approach The research used a qualitative approach that draws on stakeholder and contingency theories to collect primary data through in-depth individual interviews using semi-structured questionnaires. Data were analysed by a thematic method using the NVivo 11 Pro software package. Findings The study reveals that financial statements constitute the statutory financial reports of public sector entities in Nigeria as narrative reporting is undeveloped, both as a concept and in practice. Stakeholders believe that narrative reporting is required to enhance the accountability usefulness of the annual financial reports published by the government and public agencies. Data analysis further reveals that public perception about the management of government financial resources influences the information needs of stakeholders regarding financial reporting. In addition, stakeholders consider the approved budget as the cornerstone of public financial reporting. Accordingly, users and other stakeholders expect public sector narrative reports to provide budget-based performance information that relates the accounting data presented in the financial statements to the key budgetary provisions, in both financial outlays and service delivery achievements. Stakeholders also expect narrative reports to be presented in plain language and provide information about the impact of financial decisions and actions on the basic socioeconomic variables that signpost citizens’ well-being, such as education, health care, employment and security. Practical implications The study suggests that the inclusion of narrative information in the statutory financial reports of public entities in Nigeria is imperative and should engage the attention of policymakers and relevant regulatory authorities. In addition, a more elaborate systematic investigation of the information needs of stakeholders in Nigeria should be undertaken by relevant units of government. Originality/value To the best of the authors’ knowledge, this is the first documented research on narrative reporting and the information needs of a broad range of stakeholders in the public sector of Nigeria. The paper identifies the approved budget as the focal point of governmental financial reporting, and a clear linkage between budget provisions, accounting results and service delivery achievements as the basic content of a narrative report in developing countries.

Do globalisation and adoption of IFRS by banks in Africa lead to less earnings management?

2019 ◽  
Vol 17 (2) ◽  
pp. 222-248 ◽  
Author(s):  
Mohammed Amidu ◽  
Haruna Issahaku
Keyword(s):  
Financial Reporting ◽  
Design Methodology ◽  
Information Quality ◽  
Accounting Information ◽  
Financial Statements ◽  
International Standards ◽  
Content Type ◽  
Financial Reporting Standards ◽  
Accounting Information Quality ◽  
National Economies

Purpose This paper aims to analyse the implications of globalisation and the adoption of international standards (International Financial Reporting Standards [IFRS]) for accounting information quality. Design/methodology/approach This paper uses a sample of 329 banks across 29 countries leading up to and beyond the implementation of IFRS to test for related hypotheses. Findings First, banks’ financial statements are prepared on the basis of international standards as national economies are integrated when social norms are diffused. Building on these results, the second test suggests that the relatively high-quality earnings among banks in Africa during the period is attributable to the adoption of and interaction of IFRS with globalisation and the strategy of banks to diversify within and across interest and non-interest income. Originality/value The authors investigate how globalisation and the adoption of IFRS affect accounting information quality.

Food security in Papua New Guinea: the need to go beyond “business case CSR”

2016 ◽  
Vol 12 (3) ◽  
pp. 523-534 ◽  
Author(s):  
Fernanda de Paiva Duarte ◽  
Benedict Young Imbun
Keyword(s):  
Food Security ◽  
Papua New Guinea ◽  
New Guinea ◽  
Business Case ◽  
Community Relations ◽  
Design Data ◽  
Content Type ◽  
Security Issues ◽  
Level Of Satisfaction ◽  
Corporate Social

Purpose The purpose of this paper is to canvass the views of villagers from a remote region of Papua New Guinea (PNG) on food security issues in their community and their level of satisfaction with food security initiatives provided by the extractive company that operated on their land. Design/methodology/approach Qualitative design: data gathered through 14 semi-structured, face-to-face interviews and a discussion forum with 20 villagers from Pawa. Purposive sampling. Snow-balling method of recruitment. Findings Food security was identified as a growing concern among the villagers, who also expressed dissatisfaction with the food security projects offered through the corporate social responsibility (CSR) program offered by the company operating on their land. Communication problems between company and community and lack of trust were evident. Research limitations/implications Possibility of self-selection bias among participants. The perspective of the company was under-represented. Practical implications The study highlights the need for CSR practitioners to be mindful of the importance of effective communication with local communities. Social Implications The study reveals the importance of meaningful dialogue between company and host communities, which can lead to a more efficient allocation of resources and empowerment of host communities. Originality/value The study bridges a research gap in the field of CSR in developing countries because food security, as a CSR issue in PNG communities, is under-researched. The study contributes to a better understanding of company –community relations in PNG and how these relations can be improved through a more normative approach to CSR. It also highlights the importance of empowering host communities through meaningful dialogue.

scholarly journals Transparency of local government in Indonesia

2018 ◽  
Vol 3 (1) ◽  
pp. 123-138 ◽  
Author(s):  
I Made Pradana Adiputra ◽  
Sidharta Utama ◽  
Hilda Rossieta
Keyword(s):  
Local Government ◽  
Financial Reporting ◽  
Local Governments ◽  
Financial Statements ◽  
Political Environment ◽  
Content Type ◽  
Audit Opinion ◽  
Government Response ◽  
Positive Effect

Purpose The purpose of this paper is to provide empirical evidence about the influence of the size of local government, the quality of local government financial statements, the level of local government response to the disclosure of financial information and the local political environment on the transparency of local government in Indonesia. Design/methodology/approach The study sample consisted of 34 regional governments (provinces) in Indonesia in 2016, using purposive sampling and multiple regression analysis. Findings The results showed that the quality of financial reporting through the audit opinion and political environment have a significant positive effect on the transparency of local government in Indonesia. On the other hand, the size of the local government and local government response rate on the regulation do not affect the transparency of local government in Indonesia. Originality/value The agency, legitimacy and institutional theory have an important role in the underlying local government transparency practices in Indonesia. The results of this study should be used as the basis of thought and study to determine the factors that affect the performance of local governments from the financial and non-financial aspects.

scholarly journals Small Arms and Armed Violence in Papua New Guinea: Developing a demand-reduction agenda

2021 ◽  
Author(s):  
◽  
Bradley James Gibbons
Keyword(s):  
Papua New Guinea ◽  
Local Community ◽  
Local Level ◽  
New Guinea ◽  
National Government ◽  
Community Groups ◽  
Small Arms ◽  
Demand Reduction ◽  
Armed Violence ◽  
Light Weapons

<p>The Papua New Guinea government has adopted a range of measures aimed at reducing the supply of illicit small arms and light weapons in response to persistent problems with their use in inter-communal fighting and crime. However, these measures have been largely ineffective at reducing the level of armed violence in PNG, in part because of the failure to also address the demand that exists for these weapons. A nascent demand reduction agenda has emerged at the local level throughout Papua New Guinea in response to the failure of the national government to adequately address small arms and armed violence problems. This thesis provides a detailed overview of national, regional and international initiatives to address small arms issues and examines how they have been implemented in PNG. It then examines initiatives by local community groups and NGOs that are aimed at reducing small arms and armed violence and considers how successful they have been.</p>

The efficiency of corporate boards and firms’ audit fees: the case of the FTSE financial institutions

2018 ◽  
Vol 30 (3) ◽  
pp. 297-317 ◽  
Author(s):  
Rabih Nehme ◽  
Mohammad Jizi
Keyword(s):  
Financial Institutions ◽  
Financial Reporting ◽  
Reporting Quality ◽  
Financial Statements ◽  
Audit Fees ◽  
Governance Structure ◽  
Negative Consequences ◽  
Reverse Causality ◽  
Content Type

Purpose The quality of financial reporting for the financial institutions is vital for the public, as the negative consequences of manipulated financial statements will not only affect shareholders but also the regulators’ reputation and the society at large. The purpose of this paper is to assess the association between different corporate governance mechanisms and their impact on audit and reporting quality. The gender factor is introduced from a diverse boards’ perspective to highlight any impact of female presence on the quality of financial statements. Design/methodology/approach The authors examine a sample of financial institutions listed on the FTSE-350 index for the years 2011 to 2015. The financial sector has its own and different regulations, and financial reporting framework and auditors are expected to behave into more scrutiny. Bloomberg database is used to obtain governance and financial data, while firms’ annual reports are used to collect audit fees and audit committee information. A panel data regression is used to test hypotheses. The authors also control for unobservable heterogeneity, reverse causality and endogeneity. Findings The results suggest that boards with larger size and higher independence pay higher audit fees to enhance the monitoring capacity and protect the wider group of stakeholders. The results also show that women on boards are likely to reduce the risk of manipulated financial statements, as women are more inclined toward truthfulness, cautiousness and conservatism. In addition, the reported results show that audit committees with more independent members are more inclined toward obtaining higher quality audit to enhance firm’s reporting quality. Originality/value Given the recent governments’ intervention to avoid financial institutions’ negative impact on the economy, this study is relevant and provide policymakers insights into the existing relationships between audit fees and financial institutions’ governance structure.

Financial Statement Analysis Under IFRS

2018 ◽  
pp. 696-712
Author(s):  
Yasemin Zengin Karaibrahimoglu ◽  
Gökçe Tunç
Keyword(s):  
New York ◽  
Financial Reporting ◽  
Stock Exchange ◽  
Financial Statements ◽  
Financial Statement ◽  
Financial Statement Analysis ◽  
Financial Reports ◽  
York Stock Exchange ◽  
Key Points ◽  
Recent Developments

This chapter provides a clear conceptual discussion on the recent developments in the Financial Statement Analysis (FSA). It presents how IFRSs changed the outlook of the financial reporting and the analysis and explains the key points that should be considered in FSA. Using a case study on the financial reports of Turkcell, a communication and technology company listed both on the New York Stock Exchange (NYSE) and the Borsa Istanbul (BIST), the differences between IFRSs and U.S. GAAP accounting standards in the measurement of overall financial performance and position are documented. Overall findings show that IFRSs change the appearance of financial statements significantly. While IFRS reporting extenuates “the bottom line” it accentuates total assets with higher shareholder equity compared to U.S. GAAP. This chapter might be a practical guide for users, preparers, and regulators to understand the cosmetic impact of IFRSs on financial statements.

Credit relevance after mandatory IFRS adoption in deposit money banks of Nigeria

2020 ◽  
Vol 5 (1) ◽  
pp. 47-61
Author(s):  
Dagwom Yohanna Dang ◽  
James Ayuba Akwe ◽  
Salisu Balago Garba
Keyword(s):  
Financial Reporting ◽  
Credit Rating ◽  
Financial Reports ◽  
Content Type ◽  
Financial Reporting Standards ◽  
Secondary Sources ◽  
Ifrs Adoption ◽  
Regulatory Authorities ◽  
Significant Difference

PurposeCredit relevance of financial reporting can be influenced by change in financial reporting framework. This study aims to examine the effect of mandatory international financial reporting standards (IFRS) adoption on credit relevance quality of financial reporting of deposit money banks (DMBs) in Nigeria.Design/methodology/approachThis study uses difference-in-differences (D-in-D) design for its modelling. Panel data regression analysis based on the D-in-D model is used in analysing the data collected from secondary sources.FindingsThe findings of this study are that based on the D-in-D approach, there is a significant and positive effect of mandatory IFRS adoption on credit relevance quality of financial reporting of DMBs in Nigeria, and that there is also a significant difference in the credit relevance quality of financial reporting of mandatory adopting banks in the post-mandatory IFRS adoption period compared to pre-mandatory IFRS adoption period.Research limitations/implicationsTo the best of this study's review, there is inadequacy of literature within the credit relevance research in Nigeria. In the light of this, this study intends to fill the gap.Practical implicationsThis study is specifically important to regulatory authorities, both primary and secondary regulators. Specifically, this study has implications in the regulatory roles of Central Bank of Nigeria (CBN) and Financial Reporting Council of Nigeria (FRC). However, the study recommends that regulatory authorities should encourage DMBs to avail their financial reports annually to credit rating agencies (local and international) for proper evaluation for subsequent ratings.Originality/valueThe peculiarities in this study, that is the utilisation of the D-in-D design and the use of credit relevance metric as the dependent variable, made this study important and novel to push the frontier of existing knowledge.

scholarly journals Financial statement analysis

2019 ◽  
Vol 4 (2) ◽  
pp. 233-245
Author(s):  
Reginald Masimba Mbona ◽  
Kong Yusheng
Keyword(s):  
Financial Performance ◽  
Financial Reporting ◽  
Principal Component ◽  
Financial Statements ◽  
Financial Statement ◽  
Content Type ◽  
Know How ◽  
China Telecom ◽  
To Come ◽  
China Unicom

Purpose The Chinese Telecoms Industry has been rapidly growing over the years since 2001. An analysis of financial performance of the three giants in this industry is very important. However, it is difficult to know how many ratios can be used best with little information loss. The paper aims to discuss this issue. Design/methodology/approach A total of 18 financial ratios were calculated based on the financial statements for three companies, namely, China Mobile, China Unicom and China Telecom for a period of 17 years. A principal component analysis was run to come up with variables with significance value above 0.5 from each component. Findings At the end, the authors conclude how financial performance can be analysed using 12 ratios instead of the costly analysis of too many ratios that may be complex to interpret. The results also showed that ratios are all related as they come from the same statements, hence, the authors can use a few to represent the rest with limited loss of information. Originality/value This study will help different stakeholders who are interested in the financial performance of each company by giving them a shorter way to analyse performance. It will also assist those who do financial reporting on picking the ratios which matter in reflecting the performance of their companies. The use of PCA gives unbiased ratios that are most significant in assessing performance.

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