Introduction Independence is a fundamental to the reliability of auditors’ reports. It is an attitude of mind characterized by integrity and an objective approach to professional works. A professional auditor should work both independent and seen to be so. Nowadays‚ but‚ the trend of providing non-audit services to audit clients seem to be sweeping accounting firms all over the world; impacts of independence impairment caused by this trend should not be ignored. The Meaning of Independence The
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International Maritime Arbitration: Legal and Policy Issues Paper Presented to World Maritime University Malmö 14 May 2007 and to the Australian Maritime and Transport Arbitration Commission Sydney 4 December 2007 The Hon. Justice James Allsop Federal Court of Australia International Maritime Arbitration: Legal and Policy Issues.1 Abstract This paper seeks to deal with some important underlying policy questions faced by legislatures‚ governments and courts in dealing with
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Study on the Corporate Governance Structure and Organization Structure of China Construction Bank Key Terms: Shareholding transformation Organizational structure Corporate governance structure Class: Management (Friday afternoon) Group 2: Afra Daisy Vicky Bill Chris Study on the Governance Structure and Organizational Structure of China Construction Bank Key Terms: Shareholding transformation Organizational structure
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a. There are three ways of managing reported earnings and the reasons behind each way may be different. (1) Report lower earnings. Managers intend to report lower earnings for mainly three reasons. Firstly‚ they want to hide profit for future use. In some years‚ the company presents a strong performance and has earned huge profit; however the manager may worry that the company’s future performance would not be as strong as current year‚ which gives them the incentive to save the profit by reporting
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The Impossibility of Auditor Independence Intentional collusion of auditors and their clients is is not the major cause of Audit integrity. Most of the times‚ auditors find it difficult to become objective. In 1992‚ Phar-Mor‚ Inc. drugstore in the United States seeking a court protection from corruption failed a court case. The previous auditors‚ Coopers & Lybrand‚ Phar-Mor’s failed to state inventory inflation and manipulation of finanicial that lead to overstating of $985 million earnings
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Theories of Corporate Governance Agency Theory • • • Separation of ownership from control Dispersed ownership structure – no single shareholder has the power to control management Economic theory suggest that managers will act in their own self interest instead of maximizing shareholders’ return Stewardship Theory Managers are good stewards of corporations and diligently work to attain high levels of corporate profit and shareholders’ returns • Different
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reference to Corporate Governance DISSERTATION Of the University of St. Gallen‚ Graduate School of Business Administration‚ Economics‚ Law and Social Sciences (HSG) to obtain the title of Doctor Oeconomiae submitted by Bao Toan Tran from St. Gallen Approved on the application of Prof. Dr. Martin Hilb and Prof. Dr. Rudolf Grünig Dissertation no. 3412 Hoa Sen Design - Saigon‚ 2008 Analysis of the Vietnamese Banking Sector with special reference to Corporate Governance DISSERTATION
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……………………………………………………………………………………………………………………………………………………………………. Governance is the act of governing. It relates to decisions that define expectations ‚grant power‚ or verify performance.it is the set of policies‚ roles‚ responsibilities‚ and processes that you establish in an enterprise to guide‚ direct‚ and control how the organization It consists of either a separate process or part of decision-making or leadership processes. "governance" means: the process of decision-making and the process by which
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Corporate Governance Mechanisms and Extent of Disclosure: Evidence from Companies in Nepal Bikash Gajurel‚ Dinesh Pyatha‚ Ganesh Joshi‚ and Jyoti Kafle Uniglobe College Baneshwor‚ Kathmandu Abstract The main purpose of the study is to investigate whether the existence of corporate governance mechanisms is effective in increasing the extent of disclosure amongst public listed companies in Nepal. Dscore index is prepared to collect data for the study. Regression analysis is used to determine
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A conceptual framework is a statement of theoretical principles that provides guidance for financial accounting and reporting. (Collins & Hussey‚ 2007). It therefore prescribes the nature‚ function and limits of financial accounting and financial statements. The IASB’s Framework for the preparation and presentation of financial statements sets out the concepts that underlie the preparation and presentation of financial statements that external users are likely to rely on when making economic decisions
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