Download or read book Corporate Governance Models and Applications in Developing Economies written by Agyemang, Otuo Serebour and published by IGI Global. This book was released on 2019-08-30 with total page 330 pages. Available in PDF, EPUB and Kindle. Book excerpt: Virtually all developing, transitioning, and emerging-market economies are faced with one pressing concern at the moment: how to establish the groundwork for long-term economic performance and competitiveness in a diverse market. However, without the existence of good corporate governance in these economies, small enterprise will cease to exist in developing countries. Corporate Governance Models and Applications in Developing Economies is a collection of innovative research that contributes to the better understanding of corporate governance models by documenting the structures, principles, tenets, case studies, and applications for the development of good business practices in developing economies. While highlighting topics including risk management, financial distress, and insider trading, this book is ideally designed for corporate managers, executives, economists, strategists, investors, shareholders, students, researchers, academicians, business professionals, and policymakers.

Download or read book Audit Committee Quality and Internal Control written by Jayanthi Krishnan and published by . This book was released on 2014 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this study, I examine the association between audit committee quality and internal control quality. While information on the quality of internal control is not generally available, companies changing auditors are required to disclose any internal control problems that were pointed out by their predecessor auditors. The empirical results are based on a comparison of companies disclosing such internal control problems with a control sample of companies changing auditors but not disclosing internal control problems. Audit committee quality is measured in three dimensions: its size, its independence and its expertise. The internal control problems are observed at two levels of increasing seriousness: reportable conditions and material weaknesses. The sample time period precedes the effective dates of recent policy changes regarding audit committees. The results indicate that independent audit committees and audit committees with financial expertise are significantly less likely to be associated with the incidence of internal control problems. This is true for both levels of internal control problems. The results are consistent with recent policy emphasis on audit committee independence and expertise.

Download or read book Audit Committees and Internal Control Quality written by Annette Pridgen and published by . This book was released on 2014 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This study examines the impact of audit committees on the internal control quality of nonprofit organizations. Based on resource dependency theory that stresses an entity's economic needs for internal control over administering federal funding, we select a sample of nonprofit hospitals subject to the Single Audit Act in the United States, from 2001 to 2008. Our results show that hospitals that had audit committees and also employed Big 4 auditors were associated with better internal control quality. In addition, we find that Big 4 auditors were negatively associated with reported deficiencies of internal control over administering major federal programs in the early years (2001-2004), but positively associated with reported deficiencies of the same kind in the later years (2005-2008), suggesting a possible effect of the Sarbanes-Oxley Act.

Download or read book Audit Committee Essentials written by Curtis C. Verschoor and published by John Wiley & Sons. This book was released on 2008-04-30 with total page 258 pages. Available in PDF, EPUB and Kindle. Book excerpt: Praise for Audit Committee Essentials "Audit Committee Essentials is an excellent and comprehensive resource, documented with key references and illustrated with real-life company examples for all types of commercial and nonprofit enterprises. Dr. Verschoor brings into focus the intertwined impact of risk management, internal controls, and ethics on oversight responsibilities for both the audit committee and the entire board of directors. From my personal perspective as an audit committee member and as a director of both profit and nonprofit entities, this book should be required reading for corporate management, boards of directors, and their committees." --George K. Gill, Chairman and CEO of PetAg, Inc.; Director and member of the Investment and Audit Committees of the United Methodist Foundation of Northern Illinois "Maintaining the highest ethical standards is critical to the success of not-for-profits in today's world. Dr. Verschoor's book provides a practical, highly prescriptive approach to ensuring that governance processes meet the highest expectations of managers, employees, volunteers, contributors, and other stakeholders. I am very impressed with the readability of the book. It definitely raises one's awareness of the need for a thought-out plan that ensures strong financial and ethical credibility." --John S. Maxson, President and CEO Greater North Michigan Avenue Association, Chicago, Illinois A concise and readable account of the audit committee's roles and responsibilities The Sarbanes-Oxley Act has changed the way all corporations now operate, regardless of size. In Audit Committee Essentials, goverance expert Curtis Verschoor explains with great detail and razor-sharp precision why internal control is so critical, emphasizing financial literacy, a requirement under Sarbanes-Oxley, as well as oversight of the financial reporting process and related controls, ethics and the internal and independent audits. Written for seasoned professionals as well as newly assigned board members, Audit Committee Essentials is a vital tool in order to stay abreast of the rapidly changing governance requirements and responsibilities of audit committees.

Download or read book Internal Control written by Olof Arwinge and published by Springer Science & Business Media. This book was released on 2012-11-07 with total page 205 pages. Available in PDF, EPUB and Kindle. Book excerpt: The concept of internal control has developed along with audit practice. As demands have been made for greater accountability in corporate governance, the significance of internal control systems in companies has increased. Traditionally internal control has had a fairly direct relationship to financial reporting quality but wider approaches to internal control have expanded those boundaries much further. Stakeholders are increasingly concerned with the effectiveness of internal controls, and disclosure requirements are making firms to go public with regard to their internal control systems. From a design perspective, current research suggests that internal control designs are contingent upon variables such as company strategies, risk appetite, regulatory characteristics, and organizational size. Also there is much to learn about internal control quality, and the way internal control quality is associated with overall corporate governance quality. This book fills that gap.

Download or read book Sarbanes Oxley Internal Controls written by Robert R. Moeller and published by John Wiley & Sons. This book was released on 2008-03-31 with total page 403 pages. Available in PDF, EPUB and Kindle. Book excerpt: Sarbanes-Oxley Internal Controls: Effective Auditing with AS5, CobiT, and ITIL is essential reading for professionals facing the obstacle of improving internal controls in their businesses. This timely resource provides at-your-fingertips critical compliance and internal audit best practices for today's world of SOx internal controls. Detailed and practical, this introductory handbook will help you to revitalize your business and drive greater performance.

Download or read book Audit Committee Quality Auditor Independence and Internal Control Weaknesses written by Yan Zhang and published by . This book was released on 2007 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: In this paper we investigate the relation between audit committee quality, auditor independence, and the disclosure of internal control weaknesses after the enactment of the Sarbanes-Oxley Act. We begin with a sample of firms with internal control weaknesses and, based on industry, size, and performance, match these firms to a sample of control firms without internal control weaknesses. Our conditional logit analyses indicate that a relation exists between audit committee quality, auditor independence, and internal control weaknesses. Firms are more likely to be identified with an internal control weakness, if their audit committees have less financial expertise or, more specifically, have both less accounting financial expertise and non-accounting financial expertise. They are also more likely to be identified with an internal control weakness, if their auditors are more independent. In addition, firms with recent auditor changes are more likely to have internal control weaknesses.

Download or read book The Influence of the Audit Committee on the Internal Audit Department in the System of Corporate Governance in Ghana written by Wiredu Richard and published by GRIN Verlag. This book was released on 2020-06-04 with total page 34 pages. Available in PDF, EPUB and Kindle. Book excerpt: Academic Paper from the year 2020 in the subject Business economics - Accounting and Taxes, grade: 1.00, Kwame Nkrumah University of Science and Technology, language: English, abstract: The study seeks to ascertain the practices of the audit committee and internal audit improving corporate governance among companies in Ghana, with specific attention to analysing the audit committee's impact on improving internal audit operations, identifying the relationship between the internal audit unit and the audit committee members. Moreover, the author analyzes the impact of the internal audit department and audit committee members on the risk management strategy of companies. The author aims to exam the relationship that exists among the audit committee, internal audit, and its part in the corporate governance system. A critical analysis of the circumstances leading to the collapse of businesses shows that the majority of these corporate failures could be avoided if effective audit committees and internal audit departments are in place to check management activities, especially concerning financial reporting and other accounting practices. The study results were obtained by using data gathered from the internal auditors and audit committee members through the questionnaire survey method.

Download or read book How to Comply with Sarbanes Oxley Section 404 written by Michael J. Ramos and published by John Wiley & Sons. This book was released on 2004-03-29 with total page 306 pages. Available in PDF, EPUB and Kindle. Book excerpt: Designed specifically for Sarbanes-Oxley Section 404 compliance, How to Comply with Sarbanes-Oxley Section 404 features: A step-by-step approach to engagement performance Original material from a leading expert in auditing and accounting Practice aids, including forms, checklists, illustrations, diagrams, and tables In-depth explanations to help professionals understand how best to approach the internal control engagement Examples and action plans providing blueprints for implementing requirements of the Act Order your copy today!

Download or read book Audit Committees written by Australian Institute of Company Directors and published by AICD. This book was released on 2008 with total page 56 pages. Available in PDF, EPUB and Kindle. Book excerpt: "Role and responsibilities of Audit Subcommittees of Boards. Provides a practical introduction to the role of and responsibilities of the audit committee. Explains the context in which an audit committee typically operates and outlines good practice. Reflects developments in audit committee practice, legislation and gudance from regulatory bodiesand leading global board practices since 2001."--Provided by publisher.

Download or read book Audit Committee Effectiveness what Works Best written by Richard Steinberg and published by . This book was released on 2000 with total page 126 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book The Audit Committee Handbook written by Louis Braiotta, Jr. and published by John Wiley & Sons. This book was released on 2010-02-22 with total page 415 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Audit Committee Handbook, Fifth Edition The Audit Committee Handbook, Fifth Edition guides you to: Understand the role and responsibilities of the audit committee with a general update and reality check on auditing cycle activities Identify the developments that impact audit committee practices and the most current techniques and strategies for committee meetings Develop a repertoire of effective strategies to help the board of directors discharge its fiduciary responsibility to shareholders Prepare a periodic assessment of professional development activities and an informed review of both audit processes and financial reporting processes A must-have for all audit committee members, board directors, corporate secretaries, CEOs, CFOs, and auditors involved in the accounting practices of their firms, The Audit Committee Handbook, Fifth Edition is the most authoritative work on audit committees in the marketplace.

Download or read book Standards for Internal Control in the Federal Government written by United States Government Accountability Office and published by Lulu.com. This book was released on 2019-03-24 with total page 88 pages. Available in PDF, EPUB and Kindle. Book excerpt: Policymakers and program managers are continually seeking ways to improve accountability in achieving an entity's mission. A key factor in improving accountability in achieving an entity's mission is to implement an effective internal control system. An effective internal control system helps an entity adapt to shifting environments, evolving demands, changing risks, and new priorities. As programs change and entities strive to improve operational processes and implement new technology, management continually evaluates its internal control system so that it is effective and updated when necessary. Section 3512 (c) and (d) of Title 31 of the United States Code (commonly known as the Federal Managers' Financial Integrity Act (FMFIA)) requires the Comptroller General to issue standards for internal control in the federal government.

Download or read book CEO Power Internal Control Quality and Audit Committee Effectiveness in Substance Vs in Form written by Ling Lei Lisic and published by . This book was released on 2018 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: During the past decade, new regulations have been adopted to improve audit committee effectiveness. Prior research has generally provided evidence in support of these regulations and suggests that a more independent and expert audit committee is more effective. We posit that CEO power reduces or even eliminates the improvements in audit committee effectiveness resulting from independent and financially expert committee members. Thus, CEO power may result in an audit committee that appears effective in form but is not in substance. We construct a composite index for CEO power by combining ten CEO characteristics and employ the incidence of internal control weaknesses as a proxy for audit committee monitoring quality. Since all of the firms in our sample have completely independent audit committees, we use financial expertise to examine the impact of CEO power on audit committee effectiveness. We find that, when CEO power is low, audit committee financial expertise is negatively associated with the incidence of internal control weaknesses. However, as CEO power increases, this association monotonically weakens. When CEO power reaches a sufficiently high level, this association is no longer negative. The moderating effect of CEO power on audit committee effectiveness is more prominent when the CEO extracts more rents from the firm through insider trading. Our results are not driven by the CEO's involvement in director selection. Our paper suggests that more expert audit committees in form do not automatically translate into more effective monitoring. Rather, the substantive monitoring effectiveness of audit committees is contingent on CEO power.

Download or read book The Association Between Internal Control and Corporate Governance written by Xu Sun and published by . This book was released on 2014 with total page 192 pages. Available in PDF, EPUB and Kindle. Book excerpt: This thesis provides additional evidence on the association between internal control quality and corporate governance. The analyses are based on a sample of U.S. firms with internal control auditing reports from 2004 to 2012. My logistic regression analyses indicate that internal control quality is related to the characteristics of the audit committee, board of directors and CEO. First, I find that the independence of board directors is negatively related to internal control material weaknesses (ICMWs). Large firms tend to have large audit committees and boards of directors, and more female directors on the boards, and are negatively related to ICMWs. Second, I find that compared to Public Company Accounting Oversight Board Auditing Standard No. 2, Auditing Standard No. 5 has no impact on the relationship between internal control quality and the effectiveness of the audit committee and board of directors, except that the positive relationship between independence of audit committee members and ICMWs in the Auditing Standard No. 2 period disappears under Auditing Standard No. 5. Third, I find that companies where the CEO has high ownership or a large portion of cash and bonus compensation have a positive relationship with ICMWs, and that CEO duality and CEO age are negatively associated with ICMWs. However, I fail to find any evidence to support a relationship between corporate governance and the remediation of ICMWs.

Download or read book Audit Committees written by Frank M. Burke and published by . This book was released on 2004 with total page 452 pages. Available in PDF, EPUB and Kindle. Book excerpt: Audit Committees: A Guide for Directors, Management, and Consultants is presented in a non-technical, easy-to-read format, especially for: directors serving on audit committees; other members of the board of directors; CEOs, CFOs, and in-house legal counsel; internal and external auditors; outside legal counsel; other consultants to audit committees. Audit Committees: A Guide for Directors, Management, and Consultants, with all post-Sarbanes-Oxley developments, is coauthored by legal and accounting professionals with hands-on experience. One of the authors has organized, chaired and participated in a number of audit committees, while the other has been involved in issues relating to internal control, fraud, illegal acts, materiality, and required communications to audit committees. Audit Committees: A Guide for Directors, Management, and Consultants covers subjects rarely discussed, such as the process for terminating an external auditor. It emphasizes the importance of regular evaluations of audit committee performance to help make the audit committee more effective and efficient.

Download or read book Audit Committees Boards of Directors and Remediation of Material Weaknesses in Internal Control written by Beng Wee Goh and published by . This book was released on 2013 with total page 41 pages. Available in PDF, EPUB and Kindle. Book excerpt: This study examines whether the effectiveness of the audit committee and the board of directors is associated with firms' timeliness in the remediation of material weaknesses (MWs) in internal control. The sample comprises accelerated filers that disclosed at least one MW from July 2003 to December 2004 under Section 302 of the Sarbanes-Oxley Act (SOX). Using logistic regression analyses, I find that firms with larger audit committees, audit committees with greater nonaccounting financial expertise, and more independent boards are more likely to remediate MWs in a timely manner. These results suggest that the audit committee and the board play an important role in monitoring the remediation of MWs. Overall, the study contributes to our understanding of the effectiveness of the audit committee and the board under the SOX regime. The study also identifies important determinants of firms' timeliness in the remediation of MWs, which is key to improving financial reporting quality and restoring investor confidence.