207,251 research outputs found
Cyber Security and Risk Disclosure: A Literature Review for Theory and Practice
Corporations and SMEs are facing ânewâ external and internal pressures, which frequently result in modifications to their corporate governance structures and accounting/reporting systems. Because of the digital transformation, the environment â be it real or virtual â in which these companies operate has experienced significant changes. Business operations are a key and important component of human development all over the world â not only financially â and their influence on societal and environmental conditions as well as their necessary preservation are essentially undeniable. However, these operations increasingly undergo cyber-attacks that dramatically represent true causes of disruptions and breakdowns, eluding international governmentsâ inspection and sophisticated corporate control systems. The concepts of governance, internal control and accountability are critical for the protection of sustainable business activities from cyber-attacks, and their effectiveness is arguably dependent on corporationsâ ability to govern themselves well and demonstrate accountability to their many stakeholders (across their entire value chain) also in relation to cyber dynamics. This should be accomplished by implementing well-accepted governance system standards that are globally harmonized with âEnvironment, Social and Governanceâ (ESG) reporting and performance measurement tools capable of strategically assessing and evaluating risk exposure and providing forward-looking information on a multiple level. Few studies have adequately explored these issues in this defining setting, and due to the contrasting evidence arising from the extant literature, there is still no undisputed identification of effective measurement, reporting and disclosure systems for cyber risk and crime anticipation and/or neutralization
The Role of Boards in Reviewing Information Technology Governance (ITG) as Part of Organizational Control Environment Assessments
IT Governance (ITG) is an important topic as US companies must now monitor ITG under the provisions of the Sarbanes-Oxley Act (2002) (Hoffmann, 2003). Trites (2003) indicates that directors are responsible for strategic planning, internal control structures and business risk. The control environment is defined in Australian Auditing Standard AUS 402 to mean "the overall attitude, awareness and actions of management regarding internal control and its importance to the entity". This paper contributes to the knowledge of ITG by forming an integrated ITG Literature (IIL) which links prior research to four key dimensions of ITG. The paper presents a review of literature on ITG performance measurement systems which assess the ability of organizations to achieve these four ITG dimensions. A revised ITG Dimensions Model offered for consideration. The final contribution of the paper is to propose critical issues Boards should consider as part of their assessment of organizational control environments
International Framework for Liquidity Risk Measurement,Standards and Monitoring:Corporate Governance and Internal Controls
This paper is structured in accordance with identified components which are considered to be
essential to the successful implementation of the (two fold) topics of discussion of this paper,
namely, monitoring and liquidity risk measurements. The importance of successfully
communicating results obtained from monitoring and measuring such risks, and the role of
corporate governance in ensuring such effective communication, constitutes a recurring theme
throughout this paper. The identified components are as follows: i) Corporate governance (ii)
Internal controls (iii) Disclosure (iv) Management of risk (v) Substance over form (vi)
Transparency
As well as highlighting the interdependence of these components, the paper also aims to accentuate
the importance of individual components. Whilst no hierarchy of importance is assigned to these
components, corporate governance and internal controls are two components which are analysed
in greater depth (than other components). Furthermore, corporate governance could be accorded a
status of greater importance than internal controls having regard to the fact that whilst internal
controls relate to a very vital control aspect of an organisation, corporate governance relates to all
processes â be it decision making, control, production, performance, within a company/bank.
The paper will also attempt to demonstrate that it is possible to implement a system of regulation
which combines increased formalised procedures and/or detailed rules - whilst giving due
consideration to the substance of transaction
The Performance Implications of Fit Among Environment, Strategy, Structure, Control System and Social Performance
Purpose â The paper examined concept of corporate performance. The paper seeks to examine
the impact of corporate social performance on the relationship among business environment,
strategy, organization, and control system and corporate performance.
Design/methodology/approach â The paper is based on a synthesis of the existing literatures in
strategic management and accounting filed.
Findings â The paper finds that corporate social performance defined as stakeholder relationship
become one important dimension of the strategic behaviors that an organization can set to
improve corporate performance.
Research implication â the contextual variables as discussed in strategic management and
accounting domain will be contingent upon strategic behaviors, which are behaviors of members
in an organization.
Originality/value â The paper integrates the contextual variables including business
environment, strategy, organization structure, and control system with corporate performance by
using corporate social performance as moderating variable by means of a recent literatures study
from strategic management and accounting field.
Keywords Contextual variable, strategic behavior, corporate social performance, corporate
performanc
The Determinants of the Relationship of Corporate Social Performance and Financial Performance: Conceptual Framework
The objective of this paper is to investigate relationship between CSP and CFP using
contingency perspective derived from the strategic management domain. The investigation
will be done using lens of slack resource and good management theory. This study is
expected to provide a new insight on the link between corporate social performance and
corporate financial performance using contingency perspective as suggested in the strategic
management and accounting literature, an area has not been examined in the prior studies.
The result of this study can resolve the existing conflict in the literatures by developing an
integrated model of the link between CSP and CFP and the notion of corporate performance
which, in strategic management, is highly affected by four factors: business environment,
strategy, organization structure, and control system. The model will explain in what
condition the relationship of CSP and CFP is valid
Keywords:
Corporate social performance, corporate financial performance, slack resource theory, good
management theory, contingency theory, and moderating effect
Innate and discretionary accruals quality and corporate governance
This paper extends previous research on the association between corporate governance mechanisms and accruals quality. We derive measures of the discretionary and innate components of accruals quality and regress them against corporate governance characteristics. For discretionary accruals, we find use of a Big 4 audit firm and a larger audit committee as the primary governance mechanisms associated with higher accruals quality. For innate accruals quality, we find that higher quality is associated with an independent board of directors, a larger, more independent and more active audit committee, and use of a Big 4 audit firm. Our findings suggest a stronger relation between sound governance mechanisms and innate accruals quality than discretionary accruals quality.Full Tex
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Devolved governance systems
This article assesses the extent, nature and outcomes of the recently devolved health service governance in the four countries which comprise the United Kingdom. This four-part configuration can be seen as a natural experiment in comparative governance which could therefore carry important lessons not only for the UK but in other countries too. While remaining under the aegis of the National Health Service, each constituent devolved administration has a developed a substantially different governance system. These systems reflect fundamental issues and priorities concerning the decentring of authority, the production and deployment of authority, the suite of incentives required and the preferred role of quasi-market mechanisms. The paper makes an evaluation of the strengths and weaknesses of each governance regime
Financing Patterns: Measurement Concepts and Empirical Results
A widely recognized paper by Colin Mayer (1988) has led to a profound revision of academic thinking about financing patterns of corporations in different countries. Using flow-of-funds data instead of balance sheet data, Mayer and others who followed his lead found that internal financing is the dominant mode of financing in all countries, that therefore financial patterns do not differ very much between countries and that those differences which still seem to exist are not at all consistent with the common conviction that financial systems can be classified as being either bank-based or capital market-based. This leads to a puzzle insofar as it calls into question the empirical foundation of the widely held belief that there is a correspondence between the financing patterns of corporations on the one side, and the structure of the financial sector and the prevailing corporate governance system in a given country on the other side. The present paper addresses this puzzle on a methodological and an empirical basis. It starts by demonstrating that the surprising empirical results found by Mayer et al. are due to a hidden assumption underlying their methodology. It then derives an alternative method of measuring financing patterns, which also uses flow-of-funds data, but avoids the questionable assumption. This measurement concept is then applied to patterns of corporate financing in Germany, Japan and the United States. The empirical results are very much in line with the commonly held belief prior to Mayerâs influential contribution and indicate that the financial systems of the three countries do indeed differ from one another in a substantial way
The development of a strategic control framework and its relationship with management accounting
Management accounting systems have been criticised for being excessively focused on shortterm
performance. As a result long-term strategic direction and goals may have been neglected.
To help overcome this problem it has been suggested that organisations should adopt strategic
management accounting techniques and management control systems which are orientated
towards the achievement of strategic goals. This paper argues that integration with strategic
control would significantly enhance the relevance of management accounting systems. In
developing such an approach this paper first integrates the salient features of the extant strategic
control models in a framework that recognises the needs of the current business environment.
And second, it examines how strategic control could be used as the basis for developing
management accounting systems that have a stronger strategic focus
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