scholarly journals Disclosures on Control over Financial Reporting: The Reporting Practice of Banks Listed on The Warsaw Stock Exchange

e-Finanse ◽  
2015 ◽  
Vol 11 (1) ◽  
pp. 1-10 ◽  
Author(s):  
Jacek Gad
Keyword(s):  
Risk Management ◽  
Financial Reporting ◽  
Internal Control ◽  
Research Method ◽  
Stock Exchange ◽  
Annual Reports ◽  
Management Systems ◽  
Reporting Practice ◽  
Warsaw Stock Exchange ◽  
High Level

Abstract The purpose of this paper is to identify the effects of the implementation of selected regulations on corporate governance in the reporting practice of banks listed on the Warsaw Stock Exchange. The survey examined the disclosures concerning the main features of the internal control and risk management systems in relation to financial reporting in banks. Research studies on disclosures related to control over financial reporting have not yet been conducted. The paper uses a research method involving the analysis of annual reports disclosed by banks. The method of induction was used in the process of inference. The results of the study indicate that in the practice of reporting of banks listed on the Warsaw Stock Exchange in 2011, there was no uniform reporting form in terms of the presentation of information on internal control or risk management systems in relation to financial reporting. The disclosures were different both in terms of level of detail and content. In some banks disclosures were drawn at a high level of generality.

scholarly journals Zmiany w raportowaniu CSR w Polsce - studium przypadku

2017 ◽  
Vol 5 (3) ◽  
pp. 5-17
Author(s):  
Anna Badura-Mojza
Keyword(s):  
Financial Reporting ◽  
Stock Exchange ◽  
Financial Statements ◽  
Financial Data ◽  
Social Reporting ◽  
Annual Reports ◽  
Warsaw Stock Exchange ◽  
Reporting Channels

The aim of this article is to present the changes in non-financial reporting and reporting channels of CSR data by companies listed on the main market of the Warsaw Stock Exchange within the WIG 30. Analyses show that companies are diverging from showing information in the field of CSR in traditional financial statements and decide on the disclosure of CSR in special reports and on their websites. In addition, Polish leaders of non-financial reporting, decided to prepare integrated annual reports. Although social reporting in Poland is still a new area, practice indicates on the dynamics of development in the field of reporting non-financial data.

scholarly journals Towards 2014/95/EU directive compliance: the case of Poland

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Łukasz Matuszak ◽  
Ewa Różańska
Keyword(s):  
Financial Reporting ◽  
Stock Exchange ◽  
Content Type ◽  
Reporting Practices ◽  
Eu Directive ◽  
Comprehensive Information ◽  
Warsaw Stock Exchange ◽  
One Year ◽  
High Level ◽  
The Impact

Purpose This study aims to investigate the differences in the extent of non-financial disclosure (NFD) across companies listed on the Warsaw Stock Exchange over the period surrounding the implementation of the Directive 2014/95/EU. Design/methodology/approach The sample comprising 134 selected companies. Content analysis and a disclosure index were used to measure the level of NFD. Non-financial reporting practices in the two years before (2015) and one year after (2017) the implementation of the Directive were compared. Findings The results highlight that there is already a high level of compliance with the European Union’s regulation. The extent of the NFD across different thematic aspects in reporting media increased significantly between 2015 and 2017 in particular in human rights and anti-corruption. The Directive had the largest impact on those firms with previously low levels of NFD and led to more homogeneity of NFD across different industries. Originality/value The study contributes to the understanding of the impact of the Directive on the NFD practices by European Union companies. The research has important implications for policymakers because it revealed that mandatory regulations form a crucial instrument in improving the harmonization of NFD. The research suggests that, due to the Directive, stakeholders should be provided with more comprehensive information that they need in their decision-making process.

Analysis of Factors Affecting Fraudulent Financial Reporting with Independent Commissioners as Moderation Variable

2021 ◽  
Vol 5 (4) ◽  
pp. 01-12
Author(s):  
Andalia Andalia ◽  
Amiruddin Amiruddin ◽  
Grace T. Pontoh
Keyword(s):  
Regression Analysis ◽  
Financial Reporting ◽  
Internal Control ◽  
Sampling Method ◽  
Stock Exchange ◽  
Jel Classification ◽  
Fraudulent Financial Reporting ◽  
Factors Affecting ◽  
Effect Of Pressure ◽  
Analysis Technique

Objective - This study aims to examine and analyze the effect of pressure, opportunity, rationalization, ability and arrogance on fraudulent financial reporting with independent commissioners as the moderating variable. Methodology/Technique - The object of this research is all companies listed on the Indonesian Stock Exchange during 2019. The research sample was obtained through purposive sampling method and resulted in 215 companies. The analysis technique used is multiple regression analysis and Moderated Regression Analysis (MRA). Findings - The results show that pressure, opportunity, rationalization, ability and arrogance had a significant effect on fraudulent financial reporting. The results of the moderation regression analysis show that independent commissioners moderate the effect of pressure and arrogance on fraudulent financial reporting. Meanwhile, independent commissioners did not moderate opportunities, rationalization, and capacity for fraudulent financial reporting. Novelty - This research contributes to the pentagon fraud theory, which proves that the elements contained in this theory can be used as a basis for analyzing fraud committed by companies, and contributing to the company so that the company's internal control is improved and the presence of an independent board of commissioners is not only a fulfillment of the company's internal control. regulations made by the IDX. Type of Paper: Empirical. JEL Classification: G32, M21, M41, M42. Keywords: Pressure; Opportunities; Rationalization; Arrogance; Fraudulent Financial Reporting Reference to this paper should be made as follows: Andalia; Amiruddin; Pontoh, G.T. (2021). Analysis of Factors Affecting Fraudulent Financial Reporting with Independent Commissioners as Moderation Variable, Accounting and Finance Review, 5(4): 01 – 12. https://doi.org/10.35609/afr.2021.5.4(1)

scholarly journals Alternative Securities Markets as Financing Sources for SMEs – Selected Aspects of AIM and NC

2017 ◽  
Author(s):  
Joanna Małecka
Keyword(s):  
Financial Market ◽  
Capital Market ◽  
Stock Exchange ◽  
Annual Reports ◽  
Stock Exchanges ◽  
Special Focus ◽  
Growing Stock ◽  
Warsaw Stock Exchange ◽  
Market Operation ◽  
The Uk

Small and medium-sized enterprises are the foundation for the development of each contemporary national economy. Their number affects macroeconomic indices of economies and directly translates into the labour market created by SMEs. This article aims to investigate the key conditionings behind the macroeconomic significance and legal factors of the financial market operation in Poland and the UK, with particular emphasis on the stock exchange as the fundamental element of the capital market. Both AIM and NewConnect are platforms dedicated to SMEs, which have been allowed easier access to this capital market segment by minimising mandatory legal conditions. This study analyses the number of listed companies and their capitalisation values in 1999–2015, covering: the rules of the financial market operation, with a special focus on the legal bases of the stock market operation in the economies investigated; legal conditions for the development of this economic segment; and a detailed analysis of the number of participants and capitalisation values achieved on the Warsaw and London Stock Exchanges, in particular AIM and NewConnect. This paper builds on source data from various annual reports and stock exchange publications drawn up and made available by stock exchanges and financial supervisors. The attempt to compare the indices and capacities of the WSE and the NC with the biggest European player is motivated by the fact that the Warsaw Stock Exchange is classified as the largest and most dynamically growing stock exchange in Central and Eastern Europe.

scholarly journals Pengaruh Karakteristik Komite Audit, Perusahaan dan Struktur Kepemilikan Terhadap Kecurangan Pelaporan Keuangan

2016 ◽  
Vol 1 (2) ◽  
pp. 50
Author(s):  
Andrian Budi Prasetyo
Keyword(s):  
Financial Reporting ◽  
Ownership Structure ◽  
Audit Committee ◽  
Quantitative Methods ◽  
Stock Exchange ◽  
Secondary Data ◽  
Annual Reports ◽  
Fraudulent Financial Reporting ◽  
Financial Expertise ◽  
Firm Characteristic

This study examines the effect of audit committee characteristics, firm characteristic and ownership structure on the likelihood of fraudulent financial reporting. Audit committee characteristics is examined by audit committee financial expertise, meetings of the audit committee and the audit committee tenure. Firm characteristic is examined by the leverage, firm size, firm’s growth rate and external auditor. Ownership structure is examined by managerial ownership and institutional ownership. This research is using a quantitative methods research. This research is using secondary data that comes from the cases list of Otoritas Jasa Keuangan (OJK) and annual reports of the listed companies on the Indonesia Stock Exchange (IDX). Using a sample of 15 fraud and 15 non-fraud firms, we did not find a significant relation between the independent variabels and fraudulent financial reporting.

Do Chief Audit Executives Matter? Evidence from Turnover Events

2021 ◽  
Author(s):  
Gerald J. Lobo ◽  
Meng Lyu ◽  
Bing Wang ◽  
Joseph H. Zhang
Keyword(s):  
Financial Reporting ◽  
Internal Control ◽  
Stock Exchange ◽  
Internal Audit ◽  
Negative Association ◽  
Control Quality ◽  
Small And Medium Enterprise ◽  
Financial Expertise ◽  
Medium Enterprise ◽  
Internal Transfer

We investigate the chief audit executive’s (CAE) internal audit supervisory role by examining the change in internal audit monitoring effectiveness following the turnover of CAEs. Using a sample of firms listed on the small and medium enterprise board of China’s stock exchange, we find that CAE turnover is accompanied by a reduction in financial reporting/internal control quality and that the reduction is more pronounced for firms whose successor CAEs have lower financial expertise than their predecessors. Further analysis shows that the negative association with financial reporting/internal control quality is stronger when the turnover is for personal reasons than when it is for internal transfer of the CAE. These findings are robust to a battery of sensitivity checks, including placebo tests and matching diagnostics. Our results highlight the importance of the CAE for a firm’s internal audit functions.

Do corporate attributes drive integrated reporting amongst listed companies in Nigeria?

2021 ◽  
Vol 14 (1) ◽  
Author(s):  
Michael O. Adelowotan ◽  
Ini E. Udofia
Keyword(s):  
Stock Exchange ◽  
Least Square ◽  
Annual Reports ◽  
Primary Data ◽  
Integrated Reporting ◽  
Listed Firms ◽  
Reporting Framework ◽  
Primary Data Analysis ◽  
High Level ◽  
The Impact

Research purpose: The purpose of this paper was to investigate the association between corporate attributes and the implementation of Integrated Reporting (IR) among quoted companies on the Nigerian Stock Exchange which currently operates a voluntary based disclosure environment.Design and method: Using content analysis to derive the disclosure scores for integrated reporting and corporate attributes, the authors investigated the impact of corporate attributes on the implementation of the integrated reporting of a sample of 90 listed firms. The annual reports covering 2013–2017 were analysed using the disclosure methodologies developed by prior researchers in IR. The hypotheses were tested using panel least square regressions.Main findings: The authors found that corporate attributes have a statistically positive and significant impact on the implementation of integrated reporting framework, that share ownership structure and firm age have an insignificant influence over corporate implementation of the integrated reporting framework. The research findings extend integrated reporting research in Nigeria from mere primary data analysis to quantitative data analysis.Practical implications: The empirical findings provide regulators with evidence on the current level of integrated reporting disclosures and the influence of corporate attributes in driving integrated reporting.Originality and value: The study makes significant contributions to integrated reporting literature from a developing country’s perspective. It also provided empirical evidence of a high level of disclosure compliance with the IR framework among quoted companies in Nigeria.

ANALISIS FAKTOR - FAKTOR YANG MEMPENGARUHI KETEPATAN WAKTU PENYAMPAIAN LAPORAN KEUANGAN PERUSAHAAN INDUSTRI BARANG KONSUMSI DI BURSA EFEK INDONESIA

2020 ◽  
Vol 5 (2) ◽  
pp. 333
Author(s):  
Devi Ayu Putri
Keyword(s):  
Financial Reporting ◽  
Audit Committee ◽  
Stock Exchange ◽  
Manufacturing Sector ◽  
Participant Observation ◽  
Annual Reports ◽  
Company Size ◽  
Public Accounting ◽  
Accounting Firms ◽  
Public Accounting Firms

This study aims to examine and analyze (1) the effect of profitability on the timeliness of financial reporting (2) the effect of leverage on the timeliness of financial reporting (3) the effect of company size on the timeliness of financial reporting (4) the effect of reputation of public accounting firms on the accuracy financial reporting time and (5) the influence of the audit committee on the timeliness of financial reporting of companies listed on the Indonesian stock exchange. This research was conducted in the manufacturing sector of the consumer goods sector in 2012-2016 on the Indonesia Stock Exchange. Methods of research data using non-participant observation methods, by analyzing the annual reports and audit financial reports obtained. The data analysis method is logistic regression analysis, with hypothesis testing carried out by multivariate testing. The results showed that the profitability and audit committee had a positive effect on the timeliness of financial reporting, while leverage, company size, reputation of public accounting firms had no effect on timeliness of financial reporting. This research is expected to provide significant implications for related parties in assessing and predicting the timeliness of financial report submission.

scholarly journals The repurchase by a holding company of treasury shares held by subsidiaries: A South African perspective

2012 ◽  
Vol 43 (4) ◽  
pp. 33-44 ◽  
Author(s):  
N. Wesson ◽  
W. D. Hamman
Keyword(s):  
South African ◽  
Financial Reporting ◽  
Stock Exchange ◽  
Annual Reports ◽  
Share Repurchases ◽  
Share Repurchase ◽  
Financial Reporting Standards ◽  
Holding Company ◽  
Johannesburg Stock Exchange ◽  
The Uk

This study aims to establish whether the repurchasing of treasury shares by a holding company is a regular occurrence for companies listed on the Johannesburg Stock Exchange (JSE); whether these repurchasing companies have complied with the relevant legal and reporting requirements; and what their stated motivations were for these repurchases.In a sample of 251 companies listed on the JSE from 1999 till their 2009 financial year-end, 120 (47,8%) companies executed share repurchases. Thirty-six (30%) of the 120 companies repurchased treasury shares from their subsidiaries in 55 different transactions, representing 22% of the total number of shares repurchased.Companies which repurchase treasury shares do not always comply with the legal requirements (such as obligatory Security News Agency (SENS) announcements and circulars); and the accounting requirements of International Financial Reporting Standards (IFRS) (relevant to the disclosure of the reconciliation of the number of shares in issue) are applied in an inconsistent manner in annual reports. The most common reason for the repurchase of treasury shares was that the 10% limit (on treasury shares held by subsidiaries) had nearly been reached. Various business purposes were also given. Income tax implications did not seem to be a conclusive motivation for repurchasing treasury shares.The repurchase of treasury shares by the holding company is not allowed in most other countries, like the UK, and presents unique challenges to the South African share repurchase environment. More stringent application of the JSE Listing Requirements, as well as better guidance on the IFRS disclosure requirement on the reconciliation of the number of shares in issue, is needed in South Africa. This will enable stakeholders to make better-informed decisions and will also assist research on share repurchases.This material is based upon work supported financially by the National Research Foundation. However, any opinions, findings, conclusions and recommendations expressed in this article are those of the authors alone, and the NRF does not accept any liability in regard thereto.

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