A Framework for Visually Monitoring Business Process Compliance (Extended Abstract)

Any enterprise must ensure that its business processes comply with imposed compliance rules. This extended abstract presents a comprehensive framework for visually monitoring business process compliance. As opposed to existing approaches, the framework supports the visual monitoring of all relevant process perspectives based on the extended Compliance Rule Graph (eCRG) language. Furthermore, it not only allows for the detection of violations, but additionally highlights their causes. Finally, the framework assists users in both monitoring business process compliance and ensuring the compliant continuation of running business processes. Overall, the framework provides a fundamental contribution towards the real-time monitoring of compliance in process-driven enterprises

Supply Chain Management in a Highly Regulated Environment – a Case Study of Supplier GMP-Compliance Management in the Pharmaceutical Industry

The purpose if thus study is to explore the impacts of high authority regulation and enforcement to supply chain management practices. As one of the most regulated industries, the pharmaceutical industry was chosen as the research context. More specifically, this study concentrates on the pro-cess of managing supplier’s compliance to guidelines imposed by the European Commission, com-monly called as the Good Manufacturing Practice (GMP). The research context provides a prominent ground for researching the main effects of rigorous authority supervision that may have significant impacts to both business and society. Theoretical part of this study concentrates on the relevant literature on supply chain management, supplier management, supply chain risk management and supply chain sustainability management. This literature review serves as a theoretical framework to understand what are prevalent, or normal, processes and assumptions in these different practices. This understanding is important for identify-ing the anomalies brought by high authority regulation and enforcement. The research was conducted by interviewing informants from six different pharmaceutical compa-nies on their personal perceptions and company’s processes. All the informants had a major role in their company’s supplier GMP-compliance process, thus having significant internal knowledge. A general framework on the supplier GMP-compliance management process is proposed based on the findings. I conclude that rigorous authority regulation and enforcement has several major impacts on how companies manage their suppliers, including disintegration of sub-processes, creation of depart-mental silos and shifting focus towards compliance itself rather than efficiency or rationality of the process. Furthermore, regulations limit risk management options that companies can exercise, which can lead to severe supply chain disruptions. Finally, through authority enforcement and certi-fication programs, there is an unintentional shift of responsibility from industry towards the authorities. Contributions of this study reach beyond expanding theory – the balance between industrial inter-nal self-control and need of regulatory interference and supervision is in headlines now perhaps more than ever before, not least because of the rise of sustainability initiatives. While adding regula-tion may at first seem as straight-forward approach, it has implications that are critical to recognize before imposing new requirements

Turnitin Artikel Shari’ah Scholars, Ijtihad and Decision Making in Islamic Finance

Islāmic finance is developed based on the spirit, philosophy and principles of Sharī‘ah. Sharī‘ah contains the principles and foundations upon which financial system from an Islāmic perspective is established. These fundamentals act as guidance and framework on which the direction of Islāmic finance industry is set. All aspects of its operation need to be in compliance with the fundamental principles. Likewise, in Islāmic financial product structuring, the compliance to Sharī‘ah principles is a prerequisite. This would include the whole processes from product’s conceptual inception to developing products’ structure, products Sharī‘ah compliance manuals, reviewing the legal documentation, and producing report or opinion on the products’ application for the business. The role of Sharī‘ah advisor in this endeavor is very significant. His role would involve the ex-ante process of identifying the need of costumers towards particular product, identifying the appropriate contract and structuring the product in line with Islāmic contracts; and the ex-post processes of supervising the product application in the market, ensuring that Islāmic financial institutions follow the mechanism approved by the Sharī‘ah advisor and preparing certification or Sharī‘ah compliance report report. The paper attempts to explore Islāmic finance product structuring, various approaches in this regard, the role of Sharī‘ah advisors in decision making, developing Islāmic financial products and certification that activities and income of IFIs are in line with the principles of Sharī‘ah

Compliance advisory service feasibility study

This report identifies areas or methods of regulatory compliance information and advice to SMEs in the region that are inadequate or deficient. It recommends additional services that will benefit SMEs in the region taking into account the business support simplification agenda, state aid, legal liability, environmental and equality issues

Enterprise information security policy assessment - an extended framework for metrics development utilising the goal-question-metric approach

Effective enterprise information security policy management requires review and assessment activities to ensure information security policies are aligned with business goals and objectives. As security policy management involves the elements of policy development process and the security policy as output, the context for security policy assessment requires goal-based metrics for these two elements. However, the current security management assessment methods only provide checklist types of assessment that are predefined by industry best practices and do not allow for developing specific goal-based metrics. Utilizing theories drawn from literature, this paper proposes the Enterprise Information Security Policy Assessment approach that expands on the Goal-Question-Metric (GQM) approach. The proposed assessment approach is then applied in a case scenario example to illustrate a practical application. It is shown that the proposed framework addresses the requirement for developing assessment metrics and allows for the concurrent undertaking of process-based and product-based assessment. Recommendations for further research activities include the conduct of empirical research to validate the propositions and the practical application of the proposed assessment approach in case studies to provide opportunities to introduce further enhancements to the approach

Management control in the transfer pricing tax compliant multinational enterprise

This paper studies the impact of transfer pricing tax compliance on management control system (MCS) design and use within one multinational enterprise (MNE) which employed the same transfer prices for tax compliance and internal management purposes. Our analysis shows immediate effects of tax compliance on the design of organising controls with subsequent effects on planning, evaluating and rewarding controls which reveal a more coercive use of the MCS overall. We argue that modifications to the MCS cannot be understood without an appreciation of the MNEs’ fiscal transfer pricing compliance process

Evaluating the Customer Satisfaction’s Effect on Murabahah and Mudarabah Financing in Islamic Banking

There are a considerable number of studies on the service quality dimensions of banking industries, but little researches were carried out on the product quality dimensions, and this led to the minimal understanding of the impact of product quality dimensions from the customers’ standpoints, This research sought to identify the impact Islamic banking products (Murabahah and Mudarabah) dimensions on customer satisfaction. The study surveyed Islamic bank customers (users of the Islamic bank’s products in Nigeria) using questionnaires to seek responses, a convenient sampling technique was conducted to reach out to customers, and the use of PLS-SEM 3 was employed for the analysis of the data. The result model shows an R2 value of 0.414 (for Murabahah), which means 41% of the variance in customer satisfaction is explained by the exogenous constructs of perceived quality, cost, convenience and compliance of Murabahah, and R2 value of 0.309 (for Mudarabah) which means 31% of the variance in customer satisfaction is explained by the exogenous constructs of perceived quality, cost, convenience and compliance of Mudarabah. The values of R2 for Murabahah and Mudarabah show that the constructs were moderate in determining the satisfaction level of customers as they produced 0.414 and 0.309 respectively

Exploring some standard-setters’ views in respect of asset recognition

In-depth semi-structured interviews were conducted with four Standards-setters: three International Accounting Standards Board members and a Canadian Accounting Standards Board staff member –who has been working on the IASB’s Conceptual Framework project – in particular, the elements and recognition phase. These interviews were conducted from May to June 2008 and were directed towards seven related themes taken from the litarture: the definition of an asset, the recognition of an asset, asset recognition is a-priori to asset measurement, the resource in respect of intangible assets comprises ‘rights’, entity specific versus market specific events, separability, internally generated intangible assets. As one can observe from their personal views, they were not inclined towards the use of asset recognition criteria preferring instead to rely upon compliance with the definition of an asset and then an asset’s subsequent measurement