Download or read book Corporate Governance and Audit Work in the Malaysian Banking Industry written by Ayoib Che Ahmad and published by . This book was released on 2004 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Foundations of Shari ah Governance of Islamic Banks written by Karim Ginena and published by John Wiley & Sons. This book was released on 2015-04-06 with total page 402 pages. Available in PDF, EPUB and Kindle. Book excerpt: A practical guide for robust sharī'ah governance of the Islamic banking industry Debate in the market on the extent of sharī'ah compliance of Islamic banks, their products, and activities has piqued stakeholders' interest. In Foundations of Sharī'ah Governance of Islamic Banks, Karim Ginena and Azhar Hamid explore the depths of sharī'ah governance to unravel its mysterious dimensions, and equip academics and practitioners with a solid understanding of the subject, which has become a serious challenge and thus deserves dedicated attention. The authors make a strong case for the need to contain the sharī'ah risk that Islamic banks experience, and present a compelling argument for how this should be done. Ginena and Hamid propose a robust sharī'ah governance model that comprehensively tackles thisrisk, and helps improve the extent of sharī'ah compliance of market players. The authors detail the internal, external, and institutional arrangements needed to promote responsible sharī'ah governance, and critically analyze current laws, regulations, and industry practices on the topic. The chapters of the book do the following: Examine the roots, characteristics and objectives of sharī'ah and its relation to financial dealings; Probe the role of regulators in sharī'ah governance, explore the different approaches adopted by banking supervisors, and provide examples of relevant legal and regulatory measures; Explain to bank directors and management the fiduciary duty they assume with respect to sharī'ah compliance, and detail how they could discharge this responsibility in line with best practices; Elaborate on the purpose of the Sharī'ah Supervisory Board (SSB), its responsibilities, competence criteria, internal regulations, and key governance guidelines; additionally, they explore different SSB models; Describe the internal sharī'ah control system including its six components, and examine the internal sharī'ah audit function as well as different stages of conducting a sharī'ah audit; Clarify the role of a sharī'ah auditor, with guidance on reporting lines, scope of duties, authority, and practical ways on fulfilling tasks, such as a sample sharī'ah risk assessment grid and audit checklists; Discuss the newly emerging external sharī'ah advisory firms that are expected to play a key role in the coming years and the services they provide. Through an effective treatment of each of these elements, and the way that they interact with one another, the book offers a fresh take on how robust sharī'ah governance of Islamic banks can be successfully accomplished. It is a comprehensive resource for academics, regulators, directors, lawyers, auditors, consultants, employees, and customers of Islamic banks interested in learning more about these challenges. This essential reading persuasively extends the discourse on the subject and addresses critical sharī'ah issues that have policy implications for decision makers in jurisdictions aiming to attract the fast-growing Islamic finance industry or increase their market share.

Download or read book Corporate Governance written by and published by . This book was released on 2005 with total page 128 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Financial and Social Reporting of Islamic Banks in Malaysia written by Asri Marsidi and published by . This book was released on 2016 with total page 626 pages. Available in PDF, EPUB and Kindle. Book excerpt: Decent corporate governance practices are important and fundamental in today's corporate world, particularly in the growing and high future prospect of Islamic banking industry. In this respect, its linkages with disclosure at Islamic banks need to be well understood and developed for better sustainability of the industry. This study is hence conducted to examine the impact of corporate governance on the Islamic financial and social reporting (IFSR) of Islamic banks in Malaysia. Drawing on surveys and annual reports, this thesis seeks the views of accountants working in Islamic banks regarding the importance of items in the developed IFSR index. The annual reports are used to examine the score of the IFSR for the Islamic banks as well as to collect the data for the related variables. Multivariate regression is used as the main statistical technique to analyse the data. The findings suggest the importance of the financial part of the IFSR index followed by the importance of auditing and governance items, whereas the social items are viewed as fairly important. The findings on the social items may reflect that accountants are already aware of the need for social reporting components in Islamic banks although it yet to be considered as important as the financial items. The overall weighted score of IFSR have shown an increasing trend from 2007 to 2010. The scores, however, are still considered fair. As for the individual items, the score for finance items is classified as very good while the scores for social and governance items are categorised very poor and good respectively. The main findings suggest that board size is significant to explain the IFSR in Islamic banks in Malaysia. The other results indicate that board independence, board size, audit committee expertise, audit committee size, audit committee independence, and additional service of audit committee members significantly explain the IFSR for finance. Meanwhile, for the social items, the findings show that board size is significant in explaining the IFSR. As for the governance section of the IFSR, the results advocate that board independence and audit committee independence are significant to elucidate the IFSR. Theoretically, the thesis contributes to the body of literature through the use of Islamic agency theory. Further, the combination of quantitative, qualitative, mandatory, and voluntary requirements in the index is seen as capable of improving the disclosure of Islamic banks. The weighted index of IFSR on the other hand contributes towards enhancing the applicability of the disclosure. Moreover, the use of multivariate regression analysis contributes towards enriching the evidence on governance practices in Islamic banks. The findings may be useful to relevant stakeholders including the Islamic banks to review their disclosure level of IFSR to better discharge their accountability. At the same time, the findings contribute towards achieving a healthier formation of corporate governance mechanisms for better accountability and sustainability of Islamic banks in both Malaysia and abroad.

Download or read book Contemporary Issues in Financial Reporting Auditing and Corporate Governance UUM Press written by Noor Afza Amran and published by UUM Press. This book was released on 2013-01-01 with total page 198 pages. Available in PDF, EPUB and Kindle. Book excerpt: Contemporary Issues in Financial Reporting, Auditing and Corporate Governance offers theoretical and empirical background on three fundamental areas of accounting, namely financial reporting, auditing and corporate governance. This book is written in a clear and reader-friendly manner to create readers’ interest in the central issues of discussion. The uniqueness of this book is in its extensive coverage of national and internationally-oriented issues of financial reporting, auditing and corporate governance. This book is ideal for accounting and business related courses at upper undergraduate and post-graduate levels. With its broad coverage, the book should also be of interest to academicians, professionals, corporate managers, regulatory bodies and researchers.

Download or read book Challenges in Implementing Corporate Governance written by John Zinkin and published by John Wiley & Sons. This book was released on 2011-11-08 with total page 277 pages. Available in PDF, EPUB and Kindle. Book excerpt: "John Zinkin's new book on Challenges in Implementing Corporate Governance is a welcome addition for board members and senior management on how to improve corporate governance in the post-crisis period. John correctly identifies that most boards on underperforming companies have three elements of failure: a lack of proper understanding of the business and its strategy; a total lack of appreciation of both the strategic and systemic risks created by new product markets; and a total failure by boards to ensure that the incentive structures for top management reflect long-term needs rather than short-term profits, thereby putting the company's future at risk. John has written a useful and practical handbook that is a must read for all board members on how to improve corporate governance." —Datuk Seri Panglima Andrew Sheng, Chief Adviser, China Banking Regulatory Commission and the Boards of the Qatar Financial Centre Regulatory Authority , Sime Darby Berhad and Khazanah Nasional "This timely book will interest those wanting to improve corporate governance and risk management. It should also appeal to anyone curious about what caused banks to fail in a number of markets in recent times, and the values which led to this failure. In considering principles which are essential to good governance, ACCA recognizes that corporate governance evolves and improves over time. We accept that organizations in different sectors and across the world operate in diverse environments in terms of culture, regulation, legislation and enforcement. What is appropriate, in terms of governance, for one type of organization will not be appropriate to all organizations. John Zinkin’s book seeks to address this challenge, analyzing the essential cultural and behavioral issues which sit at the heart of the challenges." —Paul Moxey, Head of Risk Management and Corporate Governance, Association of Chartered Certified Accountants "A scholarly combination of practical guidelines and strategic vision." —Lady Sylvia Jay CBE, Vice-Chairman, L'Oreal UK; Independent Director, Alcatel-Lucent, Compagnie de Saint Gobain, Lazard Limited and Carrefour "This is a highly topical and timely publication. Globally, the crisis that has gripped the financial services sector following the failure of well known global banks in recent years has focused attention on corporate governance. To restore confidence in the financial services sector is a long-term goal and effective corporate governance, together with the closely associated topic of risk management, has gripped not only governments and banks, but the public too. In this book, John Zinkin clearly asserts that financial institutions need to exert their responsibilities beyond their shareholders and far more into the wider group of stakeholders, including employees and wider society. In considering issues globally, John provides a book that is not only thought-provoking but pragmatic and useful at a time when stakeholders in our banks need to see real change in transparent, practical ways from those charged with governing our banks." —Ruth Martin, Managing Director, The Chartered Institute of Securities and Investment

Download or read book Corporate Governance and Earnings Quality written by Thangamany Siniah and published by . This book was released on 2015 with total page 830 pages. Available in PDF, EPUB and Kindle. Book excerpt: This thesis investigates whether corporate governance conformance by Malaysian banks improves their financial reporting quality. It is motivated by the controversies surrounding corporate governance reforms and the calls for systematic research on its efficacy in the post-reform period. Malaysian banks have been subject to international standards of corporate governance since before and after the 1997-1998 Asian Financial Crisis. Malaysia's common-law tradition, greater level of financial and capital market development in the region, predominantly centralised and stable political power and robust regulatory framework are apparent strengths for corporate governance conformance. However, characteristics such as ownership concentration, political links and lack of regulatory enforcement question the ability of any governance reform to enhance the Malaysian banks' financial reporting quality. This setting, coupled with Malaysian banks' differing business models compared to those of U.S. banks, provides an Asian focus to extant literature. The analyses focus on three specific reforms, namely: (i) the initiation of the Malaysian Code of Corporate Governance (MCCG) in 2000; (ii) the circular issued by Bank Negara Malaysia in 2003 on Guidelines on the Establishment of Board Committees, Minimum Qualification and Training Requirement for Directors, and Definition and Responsibilities of Independent Directors (BNMCIR); and (iii) the revision to Guidelines on Directorship in Banking Institutions in 2005 (REVGP1). The analyses utilise 64 listed bank-year observations from 1996 to 2004 for the MCCG reform; 80 licensed bank-year observations from 1999 to 2007 for the BNMCIR reform; and 56 unlisted bank-year observations from 2001 to 2009 for the REVGP1 reform.The research questions addressed for each reform period are: Have banks' corporate governance practices changed in response to the reforms? If so, have the changes in corporate governance improved financial reporting quality? This study first identifies governance attributes with significant statistical difference from the pre- to the post-reform period. These attributes are then used to gauge their effectiveness in improving banks' financial reporting quality in the post-reform period using five proxies: (i) earnings persistence; (ii) earnings predictability; (iii) the relationship between loan-loss provisions and loan charge-offs; (iv) total accruals; and (v) discretionary accruals.From an initial concern of the low quality of financial reporting during the pre-reform period, the empirical results suggest that there was no improvement to the financial reporting quality of listed banks initiating a nominating or remuneration committee and/or complying with committee composition requirements in response to the MCCG reform. A similar situation prevails for licensed banks complying with initiating a nominating, remuneration and risk-management committee and/or complying with composition requirements. The results suggest that neither a voluntary reform approach following the U.K. standards of governance practices (pursuant to MCCG) nor a mandatory reform approach tailoring governance practices to suit local environment (pursuant to BNMCIR) were effective for improving Malaysian banks' financial reporting quality. In contrast, the empirical results pursuant to REVGP1, show improved earnings persistence and earnings predictability for unlisted banks complying with enhanced board independence, suggesting some benefits from the efforts to enhance financial reporting quality of Malaysian banks.

Download or read book Corporate Performance and Governance in Malaysia written by Yougesh Khatri and published by International Monetary Fund. This book was released on 2002-09 with total page 30 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper measures corporate sector performance (efficiency) and empirically examines the role of corporate governance. A stochastic frontier with inefficiency effects is fitted to a panel dataset of 31 of the largest nonfinancial companies listed on the Kuala Lumpur Stock Exchange for the period 1995 to 1999. Focusing specifically on the impact of the system of corporate governance and the level of control on firm-level performance, results show an underlying vulnerability in these firms, exacerbated by their reliance on bank-based borrowing and a highly concentrated shareholding structure with complex cross holdings. Furthermore, debt does not appear to have the control features present in outsider systems of corporate governance.

Download or read book Corporate Governance and Corporate Law Reform in Malaysia written by Fatt Hee Tie and published by . This book was released on 2003 with total page 430 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Corporate Governance Auditor Quality and the Reliability Statements of Audited Financial Statements in Libyan Banking Sector written by Abdelfatah M. Alrshah and published by . This book was released on 2014 with total page 436 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Better Governance Across the Board written by John Zinkin and published by Walter de Gruyter GmbH & Co KG. This book was released on 2019-05-20 with total page 420 pages. Available in PDF, EPUB and Kindle. Book excerpt: Better Governance Across the Board is a practical guide for achieving good corporate governance of organizations regardless of whether they are for profit, listed, state-owned, family owned, or widely held. It delves into the questions boards must ask if they are to fulfill their fiduciary duties, taking account of regulatory issues. Part 1 defines corporate governance, explaining the four reasons why it matters and how it applies to a wide range of organizations. Part 2 explores the "Five P" framework of Purpose, Principles, Power, People, and Processes that helps boards to create sustainable value. Part 3 concludes by showing how the organization’s long-term "license to operate" is achieved by boards focusing on the three most important assets of the organization: its reputation; its people, and its processes. This book explores the dilemmas that currently exist in modern approaches to corporate governance and suggests ways of overcoming them. Based on ten years of teaching more than 1,500 directors of publicly listed companies, it integrates key principles of leadership, ethics, branding, and governance into a unique five-factor framework to help directors make good decisions in strategy, risk management, succession planning, internal controls, and stakeholder engagement.

Download or read book Corporate Governance and Shariah Compliance in Institutions Offering Islamic Financial Services written by Wafik Grais and published by World Bank Publications. This book was released on 2006 with total page 44 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Accounting Auditing and Governance for Takaful Operations written by Sheila Nu Nu Htay and published by John Wiley & Sons. This book was released on 2012-09-24 with total page 207 pages. Available in PDF, EPUB and Kindle. Book excerpt: A comprehensive guide to current issues and practices in governance for Takaful and re-Takaful operations As the global demand for Islamic insurance products increases, a thorough understanding of Takaful principles is vital for accountants, auditors, and leaders of companies offering these products. This book covers the basic accounting principles and practices of Takaful operations, including the segregation of assets, liabilities, income, and expenditures between the Takaful operator and participants; the setting aside of cash reserves for meeting outstanding claims and future claims; and the management of revenue and expenditure. Featuring extensive case studies from real-world situations, this book is the perfect primer for accounting students and practitioners unfamiliar with Islamic finance and Takaful operations. Written by experts from the International Islamic University Malaysia, the leading organisation in research in Islamic finance Covers all the major accounting principles and practices Based on real-world experience and packed with illustrative case studies For practicing accountants and business leaders, this book offers a thorough education in Takaful operations while also serving as an excellent guide for undergraduate students and researchers.

Download or read book The Impact of Corporate Governance Characteristics on Audit Report Lag written by Siti Norwahida binti Shukeri and published by . This book was released on 2011 with total page 170 pages. Available in PDF, EPUB and Kindle. Book excerpt: Timeliness of corporate annual financial reports is considered to be a critical and important factor affecting the usefulness of information that is made available to external users. The length of the audit process highly affects the timeliness of corporate financial reporting as documented by prior literature. The purpose of this study is to examine the impact of corporate governance characteristics on audit report lag in Malaysia. The corporate governance characteristics are board independence, audit committee size, audit committee meetings and audit committee qualifications. Consequently, the study applied the agency theory and formulated seven hypotheses that guided the analysis. The study sample comprised 703 Malaysian listed companies from Bursa Malaysia, which complied with the regulatory requirements and subjected to supervision of the Central Bank of Malaysia. Regression analysis was performed to examine the audit report lag determinants. The results show that audit report lag is influenced by audit committee size, auditor type, audit opinion and firm profitability. However, no evidence was found to support the effects of board independence, audit committee meetings and audit committee qualifications on audit report lag. Apart from contributing to the literature on corporate governance and audit timeliness, this study also falls under the strand of literature that examines the consequences of regulatory changes. Detail explanations of the findings of the study along with its implications, limitations and future research suggestions are highlighted.

Download or read book THE EFFECTIVESS OF CORPORATE GOVERNANCE FROM THE PERSPECTIVE OF EMPLOYEES WITHIN THE FINANCIAL AND BANKING INDUSTRY IN MALAYSIA written by AINUR TUYAKBAYEVA (TP031105) and published by . This book was released on 2014 with total page 105 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Corporate Governance in Malaysia written by Foo Seong Cheah and published by August Publishing Sdn Bhd. This book was released on 2009 with total page 27 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book CONTEMPORARY ISSUES IN FINANCIAL REPORTING OF ISLAMIC FINANCIAL INSTITUTIONS Penerbit UMK written by Zulkarnain Bin Muhamad Sori, Sazali Bin Abdul Wahab, Mahmoud Al Homsi and published by Penerbit UMK. This book was released on 2020-12-01 with total page 187 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book presents contemporary issues in financial reporting of Islamic financial institutions. Two key areas are covered namely, accounting for Islamic financial transactions and shariah governance. The main motivation to publish this book is to share our understanding on the unique nature of Islamic finance industry and the approach to be taken in accounting and reporting of Islamic financial transactions. Also, the book illustrate the importance of shariah governance in ensuring end-to-end shariah compliance. This book is to provide a practical guidance to researchers, industry practitioners and the others stakeholders.