...79C FINANCIAL REPORTING QUALITY AND CORPORATE GOVERNANCE: THE PORTUGUESE COMPANIES EVIDENCE Cristina Gonçalves Góis Senior Lecture Instituto Superior de Contabilidade e Administração de Coimbra Instituto Politécnico de Coimbra Área temática: C) Dirección y Organización Palabras clave: gobierno corporativo; la calidad contable; información financiera; 1 FINANCIAL REPORTING QUALITY AND CORPORATE GOVERNANCE: THE PORTUGUESE COMPANIES EVIDENCE. ABSTRACT The main objective of this paper is to analyze the relationship between the composition and characteristics of corporate governance on the financial reporting quality of Portuguese companies. The major reference case studies on the relationship between corporate governance and the financial reporting quality are not validated by the results obtained. The results show that the board composition changes and its degree of independence do not produce any influence on the quality of the accounting information. Our study shows that although the main international guidelines relating to the rules of good governance have been followed closely by Portuguese institutions, the actual implementation of these rules did not occur. 2 1. INTRODUCTION The aim of this paper is to contribute to the study of the influence of the type of corporate governance on the financial reporting quality in countries with a tradition of continental accounting. Despite the profuse literature about this topic, adapted to Anglo-Saxon...
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...back to Zachman, Spewak, and FEA. The ITV Framework for the purpose of my project provides VBZ the blueprint to virutalize all or parts of its IT environment. This framework provides a holistic view of the IT activities as the virtualization occur and the impacts of those efforts on the current environment. . The ITV framework is the mechanism to facilitate structured communication amongst stakeholders to enable clearly defined measurable success. It allows the stakeholders to assess and implement the virtualization plan that will best meet their immediate business needs, with the end goal of a fully virtualized environment. VBZ’s ITV framework consists of five components: (Note: All components are tied back to the fifth component - Governance ) Figure 1. 1) Business Architecture -- aligns VBZ’s operations, strategic goal and objectives with IT requirements; provides the pertinent data for the creation of a business case the virtualization transformation and provides the business...
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...Excerpt Executive Summary Framework COBIT 4.1 The IT Governance Institute® The IT Governance Institute (ITGITM) (www.itgi.org) was established in 1998 to advance international thinking and standards in directing and controlling an enterprise’s information technology. Effective IT governance helps ensure that IT supports business goals, optimises business investment in IT, and appropriately manages IT-related risks and opportunities. ITGI offers original research, electronic resources and case studies to assist enterprise leaders and boards of directors in their IT governance responsibilities. Disclaimer ITGI (the “Owner”) has designed and created this publication, titled COBIT® 4.1 (the “Work”), primarily as an educational resource for chief information officers (CIOs), senior management, IT management and control professionals. The Owner makes no claim that use of any of the Work will assure a successful outcome. The Work should not be considered inclusive of any proper information, procedures and tests or exclusive of other information, procedures and tests that are reasonably directed to obtaining the same results. In determining the propriety of any specific information, procedure or test, CIOs, senior management, IT management and control professionals should apply their own professional judgement to the specific circumstances presented by the particular systems or IT environment. Disclosure © 1996-2007 IT Governance Institute. All rights reserved. No part of this publication...
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...tory of e-govCHAPTER - III HISTORY AND DEVELOPMENT OF e-GOVERNANCE 3.1. Introduction Information and Communication Technologies can enhance the transformation of work culture by serving a variety of ends, better delivery of government services to citizens, improved government interactions with business and industry, citizen empowerment through access to information and participation for decision-making and more efficient government management. e-Governance is not meant only for introducing or using technological tools, it fundamentally strives to bring about a change in mindset and work culture to integrate government processes and functions to serve the citizens better. In this process, it is crucial that the capacity of government to be open to criticism as well as the application of new social contract between all stakeholders, confirming a shared responsibility on the transformation processes. The interaction between a citizen and a government agency takes place in a government office. With emerging Information and Communication technologies it is possible to locate service centers closed to clients. In all the cases public traditionally look for information and services addressing his or her needs and in both cases quality, relevance and efficiency are of paramount importance. Therefore, the establishment of e-Governance requires a good knowledge of the needs that exist in the society and that can be offered using ICT. The effectiveness of ICT in government is closely...
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...The Trusted Information Payoff: Productivity, Performance, and Profits Building an information framework to ensure effective data management produces information that is true, has integrity, and can be trusted. This leads to a continuous improvement culture that can increase employee productivity, improve operational performance, and grow profitability. Karim N. Sidi and Dale A. Hutchinson L arge organizations, especially those that have grown through consolidation, mergers, and acquisitions, are often fraught with incompatible systems and data sources that are costly and difficult to manage. The systems usually do not avail efficient extraction, aggregation, and sharing of data within or across the boundaries of the business process. To address this problem, organizations can turn to an information management framework that facilitates managing raw data to create useful information that can be shared across the organization. SEPTEMBER/OCTOBER 2013 INFORMATIONMANAGEMENT 35 sist of a mix of home-grown, functionspecific applications and third-party systems built by disconnected teams without a shared reference for data definition. The solution – forethought and planning to create well-defined data standards – may appear obvious from an architectural perspective but may not be so easy to accomplish. The steps described below will help. Establish Processes, Rules, Policies Identifying the “truth” first and foremost requires that business processes, rules, and policies...
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...Table of content 1. Question 1 1. Introduce to Corporate Governance 2. Governance makes a Difference 3. Failures of Corporate Governance 4. Failures in Major companies 5. Reform of Corporate Governance 6. Conclusions 2. Question 2 1. Introduce to Cadbury Report 2. Conclusions 3.0 References Question 1 Based on the above it has been stated that “the problem is not a failure to comply with rules but a failure in governance practice”. Do you agree and why? (10 Marks) Introduce to Corporate Governance Corporate governance looks at issues pertaining to transparency, integrity, effectiveness and accountability in the management of the affairs, and all other activities of an organization. Management is concerned with the company’s operations, functions and financial performance; hence, corporate governance aims to involve the quality assurance of the operation of the board itself. The concern is for the welfare, good performance, corporate ethics and morality, as well as social and public responsibility for the good corporate citizenship. Corporate governance also involves in system to ensure that the organization’s obligations to its major stakeholders. The relationship among the many stakeholders and the way of corporation is directed and governed is therefore created. Stakeholders might include customers, employees, creditors, suppliers and distributors, the...
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............................................................................................................................................ 3 Conclusion ............................................................................................................................................ 9 Reference .................................................................................................................................................... 11 2 1344493 1. Introduction Corporate Governance has become a fundamental problem for each corporation recently. The bankruptcy of Lehman Brothers – the fourth largest investment bank in US and the largest bankruptcy in US history has started the US financial crisis and spread all over the world. Since then, the corporate governance failures have exposed massively and Barclays is one of the obvious examples with Libor manipulation scandal in June 2012. The Chairman of the Treasury Select Committee, Andrew Tyrie MP, gave his comment that the extremely weak board governance and internal compliance in a long time resulted in the wrong actions by individuals with intention of personal benefit. Obviously, the corporate governance in general and in the case of Barclays should be considered carefully. 2. Body Overall, the Guardian.com has demonstrated the problems of Barclays after the Libor scandal. The...
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...Problems can Effect the Investors Reaction Abstract Adverse Selection and agency problems are the major areas of Concern for both, the investors, and the corporate governance. Company’s good corporate structure can have a positive impact On investors. Our study, with the support of previous studies, tries to prove that the investors are also concerned about the adverse Section and agency problems. This study lacks evidences from the previous researchers regarding the relationship between investor’s reaction and adverse selection and agency problems. Even then it is a good attempt to study the behavior of investors towards investing in the company where the problems of adverse selection and agency problems are present. Key Words: Investors Reaction, Adverse Selection, Agency Problems, Corporate Governance Introduction: This paper describes the reactions of the investors to the corporate governance issues with an emphasis on the situation of agency problems and adverse selection. This paper adds to the existing literature of how investor reacts to different corporate governance issues. The idea is that how adverse selection and agency problems can directly or indirectly affect the investors thinking. Corporate governance has an influence on the investor’s reaction .Many corporate governance issues like board size, outside directors, CEO tenure and other such issues have the impact on investor’s reaction. Investors can react differently to the situations...
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...WestJet Airlines – IT Governance & Corporate Strategy 1. Assessment of the IT situation at WestJet - Cheryl Smith focused on performance measures to carry out a study to compare companies within the transportation industry. The objective of the study was to compare WestJet’s IT cost, its resources and its budget to the overall industry standards. With the results, Cheryl was able to conclude that the IT department of the company was competent and worked according to the “WestJet IT Way”. She acknowledged that the IT organization at WestJet was structured according to the IT group’s conventional internal functions of planning, building, organizing, maintaining and governing. To top it off Cheryl found that IT department at WestJet had relatively different skill set compared to the IT sector at other companies1. Further she stated that more than half the systems, procedures and systems were industry-standard. WestJet’s IT department had invented its own operations structured around the company’s needs which were not compliant with other related industries. The study concluded that there was a mismatch in the number of employers as compared to the industry benchmark numbers. 2. WestJet’s assessment and Issues faced - Cheryl Smith was informed that WestJet had undergone an analysis with IBM and they had recommended a solution to its IT concerns. However, Cheryl requested to stop and place a hold on the PMO deal that was suggested by IBM. Instead, the first task...
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...2010 This document is provided “as-is.” Information and views expressed in this document, including URL and other Internet Web site references, may change without notice. You bear the risk of using it. This document does not provide you with any legal rights to any intellectual property in any Microsoft product. You may copy and use this document for your internal, reference purposes. You may not modify this document without written consent from Microsoft. Microsoft Corp. • One Microsoft Way • Redmond, WA 98052-6399 • USA All rights reserved. Contents The Evolution of Privacy Models in Computing .................................................................................... 1 The Principles of Accountability ......................................................................................................... 2 The Use–and-Obligations Model ........................................................................................................ 3 A Privacy Governance Framework ...................................................................................................... 4 Conclusion....................................................................................................................................... 5 1 The Role and Importance of Organizational Accountability in Managing and Protecting Users’ Data The Evolution of Privacy Models in Computing Since the early 1970s, fair information principles have provided consumers, organizations...
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...Data Governance Planning Introduction Organizations collect process and store enormous amount of data, a growing number of applications/systems, which support various lines of businesses, have been collecting more and more data through various channels. Mergers and acquisitions have made the situation even more complex and confusing when it comes to the management of data and business processes. Data governance is about management of the availability, usability, integrity and security of the data. Some of the key focus areas are data quality, data integration, policies around privacy, compliance and security, the data warehouse and BI, architecture integration and analysis and data access, in terms of archival, retrieval and storage (http://www.information-management.com). In our industry, banking and finance, it has become more and more import to ensure that we are effective in meeting these key areas and keep abreast of the government regulations that have been enacted that directly affect the industry. Financial institutions must adhere to the strictest regulations for the protection of sensitive and valuable information. We must closely monitor and proactively mitigate risk because data breaches not only compromise customer and corporate confidentiality, but can also be extremely damaging to the business and the brand (http://www.varonis.com). Information Assets The main purpose of information security governance implementation is to protect the most valuable...
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...ABSTRACT The benefit of a Health Information Exchange (HIE) is facilitation of access to and retrieval of patient healthcare through safe, timely, efficient, effective, equitable, and patient centered methods. Sustainable HIE in the United States requires bringing several key ingredients together in order to create a service that will remain an invaluable part of health care culture and delivery. According to research, achieving sustainable HIE in the U.S. is creating a reality in which: (1) it is feasible for any health care provider, consumer or payer to electronically share individually identifiable data supporting efficiency and quality of care in a standards-based format through non-proprietary mechanisms using an approach that adheres to all federal security and privacy laws, regulations, and policies, including those of state governments; and (2) the costs and benefits of HIE are arranged so after establishment, HIE will be funded through mechanisms that reflect the collective advantages of HIE, such as third party reimbursements, instead of through extraordinary sources (NORC, 2009). The most notable challenges to achieving sustainable HIE include lack of financial incentives for using HIE, circumstances where those benefiting from HIE are not always those bearing the costs, and the lack of a consensus on a solid blueprint for building a successful and sustainable HIE. Currently, however, state governments are key players in health information exchange through; their participation...
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...ZBUS8147 (Business of Managing Projects), Session 1, 2015 Assessment Item 3 – Business Case A Project to Review Curriculum Management Process to Expedite Updating Aegis Training Courses and Improve Aegis Training Outcomes: Business Case. 1. Introduction 2.1. Purpose of the document: This document seeks funding from Director of ATRC Training to undertake Project Curriculum Management (CM) Change, an initiative to expedite changes to the curriculum for ATRC Officer Courses. The business case also confirms the project key parameters and serves as a brief for stakeholders. 2.2. Overview of the Project: Currently there is a three month delay in making simple amendments to any courses, including Power Point updates and reference changes. This project aims to reduce the time to less than 4 weeks and ensure all appropriate milestones are still met. The analysis will take 8 weeks to complete. 2.3. Project appraisal: This project is assessed as high yield, low cost and a low risk initiative. 2. Business context 3.4. The current process to make changes to the curriculum is taking on average 3 months. This is not in line with the current ATRC Strategic Objectives, ‘Increase Training Effectiveness’, and ‘Improve Execution in Production and Efficiency’. This is directly impacting on ATRCs Targeted Outputs which are to provide ‘Total Mission Accomplishment’ to the Fleet, which involves producing Naval Officers that are ‘Trained and Ready’ to carry out...
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...TRIMESTER III S.No. | Code No. | Title of the Course | 1. | HMPRBA 301 | Strategic Management | 2. | HMPRBA 302 | Entrepreneurship Development | 3. | HMPRBA 303 | Corporate Governance | 4. | HMPRBA 304 | Management of Public & Private Participation | 5. | HMPRBA 305 | Marketing Research | 6. | HMPRBA 306 | Financial Management | 7. | HMPRBA 307 | Operations & Supply Chain Management | 8. | HMPRBA 308 | Innovation Management | 9. | HMPRBA 309 | Current Business Affairs & Soft Skills | 10. | HMPRBA 310 | Minor Project (8 weeks) & Viva - Voce | HMPRBA-301: Strategic Management The objective of this course is to acquaint students with the concepts, methods and tools of strategic management and their application in industry. UNIT I: Strategic Management-Basic process of strategic management; Benefits and limitations of strategic management; Goals and objectives, Business Vision, Mission and Objectives. UNIT II: Environment and Resources Analysis: Environmental Analysis, Industry and Competitive Analysis, the External Factor Evaluation (EFE) Matrix, Competitive Profile Matrix (CPM), Internal Analysis; Internal Factor Evaluation (IFE) Matrix, Porter’s Five Forces Model, SWOT Analysis and VRIO framework. UNIT III: Strategy Formulation: Porters Value chain - Generic competitive strategies - Portfolio Analysis and its limitation - BCG matrix and GE matrix - Building competitive - advantage for a firm - Strategy versus tactics...
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...International Journal of Accounting & Information Management The role of corporate governance in convergence with IFRS: evidence from China Yu Chen Zabihollah Rezaee Downloaded by UNIVERSITI MALAYSIA SABAH At 05:16 06 October 2015 (PT) Article information: To cite this document: Yu Chen Zabihollah Rezaee, (2012),"The role of corporate governance in convergence with IFRS: evidence from China", International Journal of Accounting & Information Management, Vol. 20 Iss 2 pp. 171 - 188 Permanent link to this document: http://dx.doi.org/10.1108/18347641211218470 Downloaded on: 06 October 2015, At: 05:16 (PT) References: this document contains references to 50 other documents. To copy this document: permissions@emeraldinsight.com The fulltext of this document has been downloaded 1824 times since 2012* Users who downloaded this article also downloaded: Songlan Peng, Kathryn Bewley, (2010),"Adaptability to fair value accounting in an emerging economy: A case study of China's IFRS convergence", Accounting, Auditing & Accountability Journal, Vol. 23 Iss 8 pp. 982-1011 http://dx.doi.org/10.1108/09513571011092529 Randy Moser, (2014),"IFRS and convergence in China and the USA", Journal of Technology Management in China, Vol. 9 Iss 1 pp. 56-66 http://dx.doi.org/10.1108/JTMC-12-2013-0042 Ronita D. Singh, Susan Newberry, (2008),"Corporate governance and International Financial Reporting Standard (IFRS): The case of developing countries", Research in Accounting in...
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