Caste Primacy of Auditor Choice and Independence

2020 ◽  
Vol 55 (04) ◽  
pp. 2050017 ◽  
Author(s):  
Ajit Dayanandan ◽  
Han Donker ◽  
John Nofsinger ◽  
Rashmi Prasad
Keyword(s):  
Corporate Governance ◽  
Social Network ◽  
Public Sector ◽  
Boards Of Directors ◽  
Caste System ◽  
Corporate Boards ◽  
Quota System ◽  
Auditor Choice ◽  
The Public ◽  
History Of

We examine the caste affiliation of the auditor selected by the corporate boards of directors of Indian firms. The history of the caste system in India is one of discrimination and inequity. The constitutionally mandated quota system in the public sector has shown improvements, but has not trickled into private sector leadership. We find that nearly 96% of Indian corporate boards are dominated by a single caste. The auditing firms are also dominated by the forward castes. Lastly, we find that when boards are dominated by one caste, they select an auditing firm that is also affiliated with that same caste. We examine the board and auditor relationship because they both play an important monitoring role in corporate governance. However, auditor effectiveness can be undermined when there is a lack of independence between them and the firm. The existence of a strong shared social network like caste affiliation compromises that independence.

Boards and governance of state-owned enterprises

2014 ◽  
Vol 14 (2) ◽  
pp. 238-251 ◽  
Author(s):  
Samuel Nana Yaw Simpson
Keyword(s):  
Corporate Governance ◽  
Public Sector ◽  
Boards Of Directors ◽  
Evaluation Criteria ◽  
Executive Directors ◽  
Middle Income ◽  
Content Type ◽  
And Performance ◽  
Legal Frameworks ◽  
State Enterprises

Purpose – This study aims to examine the structure, attributes, and performance of boards of directors of state-owned enterprises (SOEs) within the broader context of public sector governance. This is informed by the less attention given to the concept among public sector organizations despite efforts to make state enterprises more effective and efficient, especially in developing and middle income countries. Design/methodology/approach – Data was collected through questionnaires self-administered in 2010 to all 25 SOEs in Accra, Ghana, out of the 29 nationwide. Some key officials were interviewed and documentary evidence analyzed to achieve triangulation of data and results. Findings – Results show that state-owned enterprises have boards and comply with the minimal governance issues outlined the legal frameworks establishing them. However, they exhibit significant weaknesses in the areas of board performance evaluation, criteria for board appointment, the balance of executive directors and non-executive directors, and other board characteristics, indicating a departure from general practices. Practical implications – Findings suggest the need for a tailored corporate governance framework or code for state-owned enterprises in developing countries. Originality/value – Compared to the literature, this study provides insight on boards from the perspective of state enterprises in ensuring good corporate governance, particularly in the context of a middle income country (Ghana).

scholarly journals Implementing the board of directors’ mechanism – An empirical study of the listed firms in Libya

2018 ◽  
Vol 14 (1) ◽  
pp. 22-33 ◽  
Author(s):  
Jill Atkins ◽  
Mohamed Zakari ◽  
Ismail Elshahoubi
Keyword(s):  
Corporate Governance ◽  
Board Of Directors ◽  
Boards Of Directors ◽  
Listed Companies ◽  
Board Members ◽  
Corporate Boards ◽  
Listed Firms ◽  
Stakeholder Groups ◽  
The Board Of Directors ◽  
Executive Managers

This paper aims to investigate the extent to which board of directors’ mechanism is implemented in Libyan listed companies. This includes a consideration of composition, duties and responsibilities of the board directors. This study employed a questionnaire survey to collect required data from four key stakeholder groups: Boards of Directors (BD), Executive Managers (EM), Regulators and External Auditors (RE) and Other Stakeholders (OS). The results of this study provided evidence that Libyan listed companies generally comply with the Libyan Corporate Governance Code (LCGC) requirements regarding the board composition: the findings assert that most boards have between three and eleven members, the majority of whom are non-executives and at least two or one-third of whom (whichever is greater) are independent. Moreover, the results indicate that general assemblies in Libyan listed companies are practically committed to the LCGC’s requirements regarding the appointment of board members and their length of tenure. The findings provide evidence that boards in Libyan listed companies are carrying out their duties and responsibilities in accordance with internal regulations and laws, as well as the stipulations of the LCGC (2007). Furthermore, the stakeholder groups were broadly satisfied that board members are devoting sufficient time and effort to discharge these duties and responsibilities properly. This study helps to enrich our understanding and knowledge of the current practice of corporate boards as a significant mechanism of corporate governance (CG) by being the first to address the board of directors’ mechanism in Libyan listed companies.

Zac Bercy Front du Parc: un lungo ed efficace processo di riqualificazione urbana

TERRITORIO ◽  
2009 ◽  
pp. 130-138
Author(s):  
Viviana di Martino
Keyword(s):  
Public Sector ◽  
Urban Planning ◽  
Urban Transformation ◽  
Strategic Decisions ◽  
The Public ◽  
Entire Process ◽  
Municipal Administration ◽  
History Of ◽  
The One

- An important urban transformation was achieved in Paris with the redevelopment of the Bercy quarter. It was characterised by farsightedness and an ability to monitor and manage on the part of the public sector operators who guided the entire operation. While on the one hand the Bercy case presents a series of ‘extraordinary' elements deriving from the particular history of the site, the continuity with which the municipal administration moved forward with its strategic decisions, its capacity to frame those strategies in a broader and more complex context and the ways in which the entire process was implemented certainly constitute important factors on which to reflect in the framework of a more general discussion on the effectiveness and potentials of large urban projects. This paper looks at the main stages of the transformation starting with the framing of the operation within the provisions of the main urban planning instruments and it seeks to highlight the most significant aspects of the intervention with a particular focus on the outcomes of the project implemented.

scholarly journals Corporate Governance and Performance of Audit Committee and Internal Audit Functions in an Emerging Economy’s Public Sector

2020 ◽  
Vol 13 (1) ◽  
pp. 85-98
Author(s):  
Shewangu Dzomira
Keyword(s):  
Corporate Governance ◽  
Public Sector ◽  
Audit Committee ◽  
Qualitative Content Analysis ◽  
Internal Audit ◽  
Audit Committees ◽  
The Public ◽  
Effective Performance ◽  
And Performance ◽  
Management Audit

This article seeks to examine corporate governance and the performance of audit committee and internal audit functions in an emerging economy’s public sector. These two functions form a part of imperative corporate governance aspects, and their effective performance ensures better service delivery by public sector agencies. The study is premised on stakeholder theory, which has turned out to be the central point of public sector discourses. The study is based on qualitative content analysis, which aspires to present information about corporate governance and effectiveness of audit committees and internal audit units in South Africa’s public sector. The findings suggest that there is good corporate governance in terms of the existence of audit committees and internal audit functions in the public sector. However, the results suggest that the audit committees and internal audit units in South Africa’s public sector are not effective. Absence of advice, implementation of recommendations and inadequacy of resources have undermined the performance of audit committees and internal audit units in South Africa’s public sector. The leadership and other assurance bringers ought to consider the findings elevated by the audit committees and internal audit and execute their commendation. Their findings should be urbanised into action plans that are implemented by management. Audit committees must improve their oversight on internal audit functions so that both units would effectively perform. The subsistence of successful audit committee and internal audit components in the public sector certifies proficient and effectual exploitation of resources for the gain of all stakeholders.

scholarly journals Burden of Chickenpox on Families: A Study in Quebec

2001 ◽  
Vol 12 (1) ◽  
pp. 27-32 ◽  
Author(s):  
Philippe De Wals ◽  
Manon Blackburn ◽  
Maryse Guay ◽  
Gina Bravo ◽  
Danièle Blanchette ◽  
...  
Keyword(s):  
Public Sector ◽  
Indirect Costs ◽  
Direct Costs ◽  
Postal Survey ◽  
Childhood Immunization ◽  
The Public ◽  
History Of ◽  
Absence From Work ◽  
Families With Children ◽  
Time Away

OBJECTIVE:To estimate the nonhospital costs of treating chickenpox and to ascertain the opinion of parents regarding the usefulness of vaccination. DESIGN: Retrospective postal survey.SETTING:Province of Quebec.PARTICIPANTS:Random sample of 3333 families with children aged six months to 12 years.OUTCOME MEASURES:For cases of chickenpox that occurred between September 1, 1997 and August 31, 1998, the use of health services, time away from school or work, patient care required, direct and indirect costs for the families and the health care system, and the opinion of parents regarding chickenpox and the vaccine were evaluated.RESULTS:The response rate was 64.7%, and 18.8% of households reported a history of chickenpox, a total of 693 cases. A physician was consulted in 45.8% of these cases, and medication was used in 91.7%. The frequency of hospitalizations was 0.6%. Time away from work or school caused by the disease was 4.1 days on average, with 46.5% of absences being attributed to the risk of contagion. The total average cost of a case of chickenpox was $225. Direct expenses for households accounted for 11% of the total cost, public sector direct costs 7%, indirect costs related to absence from work 38% and caregiving time 45%. A majority of parents (70%) were in favour of a systematic childhood immunization program.CONCLUSIONS:Chickenpox without complications is disruptive for families, but the direct costs for families and the public sector are relatively small.

scholarly journals Venezuelan Higher Education: The Chavez Revolution

2015 ◽  
Author(s):  
Daniel Levy
Keyword(s):  
Higher Education ◽  
Latin America ◽  
Public Sector ◽  
Private Universities ◽  
Institutions Of Higher Education ◽  
Private Institutions ◽  
Public And Private ◽  
The Public ◽  
History Of

Hugo Chavez's clash with Venezuelan higher education is a vivid present-day example of a history of confrontation between leftist, populist regimes and higher education in Latin America. Chavez has transformed the public sector through creation and expansion of new universities. Chavez's policies have alienated the country's private institutions of higher education. Both public and private universities are reduced in importance.

scholarly journals Executive compensation and board of directors’ disclosure in Canadian publicly-listed corporations

2013 ◽  
Vol 10 (3) ◽  
pp. 188-199 ◽  
Author(s):  
Martin Spraggon ◽  
Virginia Bodolica ◽  
Tor Brodtkorb
Keyword(s):  
Corporate Governance ◽  
Executive Compensation ◽  
Boards Of Directors ◽  
Corporate Boards ◽  
Publicly Traded ◽  
Information Transparency ◽  
Publicly Traded Companies ◽  
Listed Firms ◽  
Reporting Practices ◽  
Governance Regime

This article contributes to the growing body of literature exploring the important role that information transparency plays in strengthening the national corporate governance regime. We review the 2007 amendments to the Canadian reporting legislation with the particular emphasis on sections pertaining to executive compensation and boards of directors. Taking into consideration the specificities of the „comply-or-explain‟ system in Canada, we seek to uncover the extent to which publicly-listed firms comply with these newly amended standards of corporate governance reporting. Based on a comparison of 403 proxy circulars issued in the post-amendment period, we identified important cross-firm variations in the type and format of disclosed information on executive compensation and corporate boards of directors. In order to address the problems that inter-organizational disclosure discrepancies generate for governance researchers and analysts, we provide several recommendations on how Canadian publicly-traded companies can improve their reporting practices

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