scholarly journals The Critical Analysis of Some Comparative Eastern Africa Corporate Governance Standards After Financial Crisis, Corporate Scandals and Manipulation

2021 ◽  
Vol 1 (1) ◽  
pp. 54-63
Author(s):  
Dinh Tran Ngoc Huy
Keyword(s):  
Corporate Governance ◽  
Internal Control ◽  
Eastern Africa ◽  
Governance System ◽  
Corporate Scandals ◽  
Corporate Governance System ◽  
Policy Suggestions ◽  
Internal Control System ◽  
Group 2 ◽  
Group 1

Even though corporate scandals and bankruptcy in US and Europe and Asia show some certain evidence on weak corporate governance, weak internal control system and weak audit, Global corporate governance forum noted corporate governance has become an issue of worldwide importance. Therefore, this paper chooses a different analytical approach and among its aims is to give some systematic opinions.First, it classifies Eastern Africa representative corporate governance (CG) standards into two (2) groups: Malawi and Kenya latest CG principles covered in group 1 and, group 2, including corporate governance guidelines from EVCA 2005, so-called relative good CGgroup, while it uses ACCA and CFA principles as reference. Second, it , through analysis, shows differences between above set of standards which are and have been used as reference principles for many relevant organizations. Third, it establishes a selected comparative set of standards for Eastern Africa representative corporate governance system in accordance to international standards.Last but not least, this paper covers some ideas and policy suggestions.

scholarly journals A Set of International OECD and ICGN Corporate Governance Standards After Financial Crisis, Corporate Scandals and Manipulation - Applications for Nigeria and Implications for Developing Countries

Management ◽  
2020 ◽  
Vol 24 (1) ◽  
pp. 56-80
Author(s):  
Dinh Tran Ngoc Huy ◽  
Nguyen Thi Thuy ◽  
Le Thi My Phuong ◽  
Pham Minh Dat ◽  
Vu Trung Dung ◽  
...  
Keyword(s):  
Developing Countries ◽  
Corporate Governance ◽  
Financial Crisis ◽  
Analytical Approach ◽  
International Standards ◽  
Governance System ◽  
Corporate Scandals ◽  
Corporate Governance System ◽  
Policy Suggestions ◽  
Group 1

SummaryA statement by ACCA in May 2009 that any corporate governance system should consider factors such as transparency, accountability, fairness and responsibility, raises issues in this field over past few years. There are also a few researches which have been done in the field of international corporate governance standards. This paper chooses a different analytical approach and among its aims is to give some certain systematic conclusions.First, it separates international standards into groups: ICGN and OECD latest principles covered in group 1 while it uses ACCA principles as reference.Second, it identified differences between these above set of standards which are and have been used as reference principles for many countries and organizations.Third, it aims to build a selected comparative set of standards for corporate governance system in accordance to international standards.Last but not least, this paper illustrates some ideas and policy suggestions.

scholarly journals BACIS THEORETICAL CHARACTERISTICS OF INTERNAL CONTROL

2019 ◽  
Vol 8 (4) ◽  
Author(s):  
Firdaus I. Kharisova ◽  
Alisa V. Samoilova
Keyword(s):  
Control System ◽  
Internal Control ◽  
Rapid Change ◽  
Complete Information ◽  
Governance System ◽  
Corporate Governance System ◽  
Internal Control System ◽  
Competitive Relations ◽  
High Level ◽  
Commercial Organizations

The question of the existence of an effective internal control system is now of particular relevance. The current stage of the economic entities operation in the Russian Federation is a stage of changing the external and internal environment of management, characterized by a high level of uncertainty and instability, which consists in toughening of competitive relations. Domestic organizations have to operate in the conditions of rapid change and development of technologies, a tough competitive environment, growing business diversification, and inconsistency of domestic legislation. One of the main factors for creating the competitiveness of organizations is effective management, based on quality, reliable and complete information about the managed facility. The paper reveals key questions about the internal control of commercial organizations in the non-financial sector. The main interpretations of the term "internal control" and components of the internal control system are considered, the stages of internal control formation are outlined, the place of internal control in a corporate governance system is substantiated, and official powers in the internal control system are identified. Also, the authors present the main documents which should be noted when studying the issue of internal control. The main methods used in this work are the information systematization, processing and generalization.

The German Supervisory Board on its Way to Professionalism

2010 ◽  
Vol 11 (2) ◽  
pp. 115-158 ◽  
Author(s):  
Jan Lieder
Keyword(s):  
Corporate Governance ◽  
Internal Control ◽  
Supervisory Board ◽  
Decision Making Process ◽  
European Level ◽  
Governance System ◽  
Management Board ◽  
Corporate Governance System ◽  
Flow Of Information ◽  
Board System

The paper shows how the efficiency of the German supervisory board has been significantly improved in the last decade. These legal changes made the supervisory board climb to a higher position of power. In particular, the supervisory board is now significantly involved in the decision-making process on a company's overall strategic concept and on management decisions of fundamental importance. This emphasizes the future-oriented monitoring obligation of the supervisory board, which gained much more importance in the last decade. Furthermore, the new provisions increased the flow of information from the management board to the supervisory board, and they facilitated the monitoring efficiency of every single supervisory board member. In addition, several important changes improved the cooperation of supervisory board and auditors. The most recent changes strengthened the supervisory board's responsibility with regard to internal control and risk management.The vest majority of those changes in the German supervisory board system are very welcome. However, the current regime of German codetermination as well as the excessive size of the supervisory board has to be changed. Under the important developments on the European level, the time has come to act now in this direction. The advocated concept of codetermination by consensus provides a solid basis for more flexibility in the rigid German corporate governance system. It is also desirable to further limit the size of the supervisory board to no more than twelve members. Finally, the efficiency of the corporate governance system would be improved by allowing enterprises to choose between a one-tier and a two-tier board system.

scholarly journals The Analysis of Limited South Asian Corporate Governance Standards after Financial Crisis-Cases in India and Malaysia

2020 ◽  
Vol 3 (1) ◽  
Keyword(s):  
Corporate Governance ◽  
South Asian ◽  
International Standards ◽  
Corporate Structure ◽  
Governance System ◽  
Corporate Scandals ◽  
Audit System ◽  
Corporate Governance System ◽  
Code Of Corporate Governance ◽  
Governance Risk

After the recent global crisis, corporate scandals and bankruptcy in US and Europe, there is some certain evidence on weak corporate governance, risk management and audit system. The 2009 India Code of Corporate Governance also revealed that during the crisis time, there are certain weaknesses although corporate structure is fairly durable. Hence, this paper chooses a different analytical approach and among its aims is to give some systematic opinions. First, it classifies limited South Asian representative corporate governance (CG) standards into each group: India and Malaysia latest CG principles covered, so-called relative good CG group, while it uses ACCA and OECD and ICGN principles as reference. Second, it , through analysis, identifies differences and advantages between above set of standards which are and have been used as reference principles for many relevant organizations. Third, it establishes a selected comparative set of standards for South Asian representative corporate governance system in accordance to international standards. Last but not least, this paper covers some ideas and policy suggestions.

scholarly journals The role of government in corporate governance: Perspectives from the UK

2011 ◽  
Vol 9 (1) ◽  
pp. 283-293 ◽  
Author(s):  
Emmanuel Adegbite ◽  
Philip Shrives ◽  
Timothy Nichol
Keyword(s):  
Corporate Governance ◽  
Self Regulation ◽  
Governance System ◽  
Role Of Government ◽  
The Public ◽  
Corporate Scandals ◽  
Corporate Governance System ◽  
The Government ◽  
The Uk

Incessant corporate failures have led to increasing governmental participation in the governance of the modern corporation. In this conceptual paper, we examine and propose that the role of government in the UK corporate governance system is four fold, namely: to enhance competitive advantage; to compensate for the failure of self-regulation; to prevent corporate scandals and restore investors’ confidence; and owing to significant public pressures and associated political undertones, to suggest to the public the government is still an effective overseer in the existing prominence of self-regulation. We contribute to the literature on corporate governance, politics, policy making and regulatory institutions, whilst raising important issues that are of practice and policy relevance.

INTERNAL AUDIT - EFFECTIVE INSTUMENTY OF CORPORATE GOVERNANCE SYSTEM

2016 ◽  
Vol 11 (2) ◽  
pp. 95-99 ◽  
Author(s):  
Закирова ◽  
Alsu Zakirova ◽  
Клычова ◽  
Augul Klychova ◽  
Клычова ◽  
...  
Keyword(s):  
Internal Control ◽  
Internal Audit ◽  
Governance System ◽  
Internal Audit Function ◽  
Wide Range ◽  
Corporate Governance System ◽  
Internal Control System ◽  
Range Of Functions ◽  
Domestic Companies

Today the debatable problem is the effectiveness of internal control system. That internal audit, as a part of interfarm monitoring systems, has a wide range of functions, that go beyond the range of issues, relating to internal control. In Russia, there are no laws and regulations, governing the internal audit organization. The absence of a rigid framework is a prerequisite for creating the most effective internal audit service. The establishment an internal audit function is also becoming increasingly necessary because of competition and integration of foreign and domestic companies. This article provides an irreplaceable role of internal audit in terms of its objectives and functions.

scholarly journals Nurturing Corporate Governance System: The Emerging Trends in Nigeria

2009 ◽  
Vol 4 (2) ◽  
Author(s):  
Benjamin James Inyang
Keyword(s):  
Corporate Governance ◽  
Internal Control ◽  
Governance Structure ◽  
Securities And Exchange Commission ◽  
Control Mechanisms ◽  
Governance System ◽  
Corporate Governance Structure ◽  
Public Corporations ◽  
Emerging Trends ◽  
Corporate Governance System

The paper traced the nascent history of corporate governance system in Nigeria and noted the paucity of literature in the subject. Mainstream issues of corporate governance in the country emerged with the enactment of the Companies and Allied Matters Act of 1990 (CAMA 1990), which established the Corporate Affairs Commission (CAC), and charged it with the responsibility of overseeing the regulation and supervision of the formation, incorporation, registration, management and winding up of companies. The corporate governance codes of both the Securities and Exchange Commission (SEC) and the Central Bank of Nigeria (CBN), gave impetus for the development of corporate governance structure, to ensure transparency, accountability, probity, integrity and fairness in the management and control of the public corporations, and thereby creating value for the shareholders and stakeholders. Major challenges which required urgent attention to enhance the effectiveness of the system were noted thus: making the voluntary codes mandatory; developing more effective mechanisms for monitoring compliance and enforcement; developing strong internal control mechanisms to checkmate the boards oversight responsibility; crafting strategies to enhance shareholders activism and the extension of the codes to state-owned enterprises with more cases of corporate governance abuses.

scholarly journals COMPLIANCE AS A TOOL OF COMPANY VALUE IMPROVEMENT

2016 ◽  
Vol 4 (4) ◽  
pp. 461-464
Author(s):  
Михаил Алёшин ◽  
Mikhail Aleshin ◽  
Елена Алёшина ◽  
Elena Aleshina
Keyword(s):  
Sustainable Development ◽  
Corporate Governance ◽  
Internal Control ◽  
Developed Countries ◽  
Minimum Level ◽  
Governance System ◽  
Company Value ◽  
New Instrument ◽  
Corporate Governance System ◽  
Integral Element

The article highlights the problem of increasing the value of the corporation using the new instrument of corporate governance - compliance, which is widely used in economically developed countries. There has been a lack of theoretical elaboration of compliance. Based on the existing experience of applying compliance, the article examines two main approaches: the minimum level of organization compliance and compliance culture. The article gives advantages that acquire the corporation using the compliance function, and possible implications for corporations that do not adopt compliance. It is concluded that the compliance system is a competitive advantage of the corporation, each year its value as a function of internal control and an integral element of the corporate governance system will grow that will ensure the conservation and sustainable development of the Corporation through the growth of its value.

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