Editorial introduction—25 years of AGM theory

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Development of Auditing in Malaysia:Legal,Political and Historical Influences

This work investigates the role and contribution of external auditing as practised in the Malaysian society during the forty year period from independence in 1957 to just before the onset of the Asian Financial Crisis in 1997. It applies the political economic theory introduced by Tinker (1980) and refined by Cooper & Sherer (1984), which emphasises the social relations aspects of professional activity rather than economic forces alone. In a case study format where qualitative data was gathered mainly from primary and secondary source materials, the study found that the function of auditing in the Malaysian society in most cases is devoid of any essence of mission; instead it is created, shaped and changed by the pressures which give rise to its development over time. The largely insignificant role that it serves is intertwined within the contexts in which it operates

Talking to the inattentive Public: How the media translates the Reserve Bank’s communications

Central bank communication is widely recognised as crucial to the implementation of monetary policy. This communication should enhance a central bank’s management of the inflation expectations of the financial markets as well as the general public – the latter being a part of the central bank’s audience that has received relatively little research attention. In this paper, the role of the media in transmitting the SARB’s communication to the general public is explored, with the aim of improving our understanding of its impact on the expectations channel of the monetary policy transmission mechanism. A deliberate evaluation of this channel could aid the design of future strategies to communicate with the general public.South Africa, central bank communication, consistency, monetary policy transmission mechanism, transparent monetary policy

Development of auditing in Malaysia: legal, political and historical influences

This work investigates the role and contribution of external auditing as practised in the Malaysian society during the forty year period from independence in 1957 to just before the onset of the Asian Financial Crisis in 1997. It applies the political economic theory introduced by Tinker (1980) and refined by Cooper & Sherer (1984), which focuses on the social relations aspects of professional activity rather than economic forces alone. In a case study format where qualitative data was gathered mainly from primary and secondary source materials, the study found that the function of auditing in the Malaysian society in most cases is devoid of any essence of mission; instead it is created, shaped and transformed by the pressures which give rise to its development over time. The largely insignificant role that it serves is intertwined within the contexts in which it operates.external audit; Malaysia; politics; history; economy; Companies Act 1965; Companies Act 1985; British Companies Acts; Accountants Act 1967; Asian Financial Crisis

Talking to the inattentive public: How the media translates the Reserve Bank’s communications

Central bank communication is widely recognised as crucial to the implementation of monetary policy. This communication should enhance a central bank’s management of the inflation expectations of the financial markets as well as the general public — the latter being a part of the central bank’s audience that has received relatively little research attention. In this paper, the role of the media in transmitting the SARB’s communication to the general public is explored, with the aim of improving our understanding of its impact on the expectations channel of the monetary policy transmission mechanism. A deliberate evaluation of this channel could aid the design of future strategies to communicate with the general public.South Africa, central bank communication, consistency, monetary policy transmission mechanism, transparent monetary policy.

Accounting In Malaysia In The Post-New Economic Policy (NEP) Era

Following the economic recession in 1985-86 but prior to the Asian Financial Crisis in the thirdquarter 1997, accounting in Malaysia appeared to have been energised with major amendmentsof the Companies Act 1965, activation of the statutory accounting body Malaysian Institute ofAccountants (MIA) and talks over the setting up the Malaysian Accounting Standards Board(MASB). This study attempts to find out the reality of these changes and the reasons behindthis reality. By applying the political economic approach to accounting (Cooper & Sherer,1984) and with data obtained from primary and secondary source documentation and in-depthinterviews, it is found that superficial accounting changes had taken place: Companies Actamendment on additional auditor reporting duty was lacking in enforcement, the revived MIAacted inadequately as accounting regulator; and, the MASB was established with no enforcementcapability. These changes were consistent with and stemmed from Malaysia's social, economicand political attributes which were supported by the elite class.  Copyright © www.iiste.or

The Hampel Committee Report: A Transatlantic Critique

To an American observer, the activities of the Cadbury, Greenbury and Hampel Committees are impressive, if only because so few lawyers seem to be involved. Unlike the US, where improvements in corporate governance can usually be traced to legislation or litigation, British efforts at self-governance offer an attractive, alternative model. The Hampel Report is disappointing, however, in three respects: the report lacks concrete models; its reliance on the AGM as a mechanism of reform is misplaced; and its failure to recognize internal monitoring programs as an essential element of good corporate governance is shortsighted

Showing a strong front: Corporate social reporting and the business case in Britain, 1914-1919

It is generally asserted that corporate social reporting (CSR) is a phenomenon of the late 20th century. The present paper contests this view by looking at the ways in which British companies reacted to the challenges they faced during the First World War, when they were exposed to charges of profiteering, as well as to industrial unrest and high taxation. The paper considers the use of the speeches made by chairmen at annual general meetings to refute these charges and defend themselves. It considers the relevance of these findings for contemporary social reporting, and suggests that investigation of the history of CSR is likely to show further examples of its use by companies to put forward the business case