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The development of an investigation process for commercial forensic practitioners in South Africa / Daniël Petrus BredenkampBredenkamp, Daniël Petrus January 2015 (has links)
The study aims to establish an integrated generic investigation process that
could be utilised by Commercial Forensic Practitioners in South Africa.
Secondly, it aims to determine which investigation processes are currently
being utilised in South African forensics practices.
An overview is given of the international utilised processes and a basic
framework was developed, presented and tested by means of questionnaires
to members of the Institute of Commercial Forensic Practitioners in South
Africa.
The development of an investigation process for Commercial Forensic
Practitioners in South Africa could be utilised by the Institute of Commercial
Forensic Practitioners to provide a governance structure for the Institute that
would enhance the quality of forensic investigations and contribute to the
successful investigation and prosecution of commercial crime in South Africa.
To achieve the study objective, an empirical study was conducted among
current members of the Institute of Commercial Forensic Practitioners in
South Africa through the circulation of questionnaires via their website.
These results were interpreted, taking cognisance of international practices
identified in the literature review. A formalised investigation process was
developed and suggested to the Institute of Commercial Forensic
Practitioners. Statisticians were involved during the process of designing the
questionnaires, and analysing and interpreting the results.
The research dealt with a generic investigation process for Commercial
Forensic Practitioners. It also dealt with its implementation and investigative
performance in South African practices. In this study, an overview of the
investigation process for Commercial Forensic Practitioners in South Africa
was discussed.
The research also analysed the following:
* The time period in which organisations implemented the Commercial
Forensic Practitioners Process; * The effect of the Commercial Forensic Practitioners Process on
investigative performance; and * The integration of the Commercial Forensic Practitioner's process into
the budgeting process.
The findings of the study revealed the following:
* Each of the phases of the Commercial Forensic Practitioners Process
is as important as the others in matters that will be presented before
court.
* An investigation should only be performed if it can be performed
properly and in a manner that provides clarity and value to the
engagement and its objectives. For this purpose, a Commercial
Forensic Practitioner should only accept an assignment if free of
conflicts and any independence issues. It is imperative for Commercial
Forensic Practitioners to adequately assess not only their relationship
to the client and the particular engagement, but also their relationship
to any opposing party. This assessment should be done in the context
of all other work of the practice, not only that work that is performed by
the particular Commercial Forensic Practitioner and direct colleagues.
* The Commercial Forensic Practitioner must design, implement and use
a robust client and engagement acceptance process that is
documented, standardised and, where relevant, agreed with the client.
* The role of a Commercial Forensic Practitioner in an investigation
process is, therefore, to gather evidence, interrogate and examine the
financial evidence, develop computer applications that help in analysing
and presenting the evidence, putting forward all the findings in the form
of reports, exhibits and documents, and finally taking part in civil
actions or litigation as an expert witness, and testifying to the court and
presenting all the evidence obtained through documentation or visual
aids. It is therefore of the essence that a Commercial Forensic
Practitioner be well versed in financial issues and legal concepts and
proceedings. * The study found that the majority of respondents (69.3%) were male,
while only 30.7% were female. The majority of Commercial Forensic
Practitioners fall within two age categories, namely, 35 to 44 and 45 to
54 years. These age categories fall into the productive stage of a
working career in the human life-cycle. It is furthermore inferred that the
level of experience is of importance, as the majority of participants were
well experienced, mostly with at least ten years‟ experience.
* A total of 22.7% of respondents indicated that they do not use a
formalised investigation process. The majority of respondents (77.3%)
thus make use of a formalised investigation process.
* The study found that formalised investigation processes are not
implemented for the following reasons:
-- Managerial and governance processes within practices were
sufficient to address the risks posed (41.2%);
-- Commercial Forensic Practitioners do not have a formalised
investigation process at their disposal (35.3%);
-- Commercial Forensic Practitioners are not aware of a formalised
investigation process being utilised in industry that could be
used (23.5%); and
-- The implementation of a formalised investigation process proved
too difficult (23.5%).
* The most important reasons for implementing a formalised investigation
process included reputational risks and quality control of investigative
work. It was notable that the study revealed that the industry does not
require practitioners to follow any procedures.
* It is noteworthy that practitioners did not regard monitoring and
management review of compliance with the provisions of their
formalised investigation process as an important requirement. The
study revealed that the majority of Commercial Forensic Practitioners
would measure compliance as an occasional requirement (33.3%); only
23.3% placed compliance as an agenda item for each monthly
management meeting and 16.7% as a quarterly agenda item. * The majority (56.3%) of practitioners recognised that integration of a
formalised process with the budgeting process could enhance
productivity and financial benefits.
* The majority of respondents (88.1%) were of the view that there was an
improvement in financial performance and/or productivity after the
implementation of the formalised investigation process.
* 62% of respondents were of the view that there was a significant
improvement in financial performance and productivity since the
implementation of the formalised investigation process.
This finding is significant, as it proves that a formalised process for
Commercial Forensic Practitioners in South Africa can have a positive effect
on a practise‟s financial performance.
The suggested sub-processes, as described, are accepted by the
respondents, namely:
* Client acceptance, service considerations, risk management
procedures, independence and engagement agreements;
* Planning and strategic objectives of an engagement, including
documented investigative plan incorporating the relevant disciplines
(accounting, law, IT, investigative and risk management skills);
* Gathering information and evidence, documenting evidence in an
evidence file or system and safeguarding evidence as important;
* Interviewing, using best practice interviewing skills, by planning the
interview to achieve strategic objectives, recording the interview and
using technology;
* Analysis and verification of evidence;
* Quality management, with all reported findings included in referenced
working papers supported by documented physical evidence; and
* Reporting on findings in a detailed forensic report, clearly and concisely
reflecting on the sequence of events, supported by financial information
and documents, in a format that could be used in disciplinary enquiries
and/or proceedings in civil and criminal courts. These findings fulfil the objective of the study, which was to establish an
integrated generic investigation process that could be utilised by Commercial
Forensic Practitioners in South Africa and secondly to determine which
investigation processes are currently being utilised in South African forensics
practices. It was clarified whether the implementation of a formalised process
can lead to an improvement in financial performance and what the result of
the integration of a formalised process into a practise‟s budgeting process is.
It was established that there is indeed a relationship between the integration
of the formalised process into the budgeting process and the improved
financial performance of a practise.
The findings of this study have significant implications for the management of
South African Commercial Forensic Practitioner practices. Based on the study
findings, the following general and specific recommendations can be made:
* The investigation process for Commercial Forensic Practitioners should
be fully integrated with the budgeting process of the practise, as this
will ensure improved investigative performance by the business; and
* Education and research on the investigation process for Commercial
Forensic Practitioners should be conducted by the management of a
practice before implementing such a process. / MCom (Forensic Accountancy), North-West University, Potchefstroom Campus, 2015
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A framework for reporting sustainability performance to major stakeholder groupsNaudé, Jacobus Adriaan 06 1900 (has links)
The focus of this thesis was to develop a simplified framework for future sustainability reports. The traditional approach to corporate reporting is limited in its ability to meet expectations of stakeholders for what drives value creation in a business. Sustainability performance reports are aimed at providing stakeholders information regarding a company’s non-financial performance and to provide stakeholders some information regarding the future performance that can be expected.
The idea behind sustainability and the triple bottom line is that a company’s ultimate success can and should be measured not just by the financial bottom line, but also by its social, environmental and economic success. Sustainability reporting, also known as triple bottom line reporting incorporates the economic, social and environmental performance of a company, but there is no universally accepted definition of the subject. Sustainability is a contested subject and defined differently by different groups to suit their purposes. This places the phenomenon in a situation where its future is threatened. / D.B.L.
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Intellectual capital: measurement, recognition and reportingMoolman, Sindiswa January 2011 (has links)
The main purpose of this study is to examine the need to modify the theory of accounting to ensure a standardised and comparable approach when accounting and reporting on intellectual capital.
A literature review is used to describe intellectual capital categories and how to measure, recognise and report these assets in the financial statements on an entity. Financial reporting operates around strict requirements that are statement of financial position biased posing significant challenges in recognising and disclosing intellectual capital. The study also uses content analysis of corporate annual reports of the top 40 companies listed on the JSE Ltd in 2009 to determine the extent of intellectual capital reporting by these companies.
Measuring and recognising intellectual capital in financial reporting is not limited by the requirements in respect of statutory disclosures, discretionary and contextual disclosures are recommended. Results of the content analysis show that companies use these discretionary and contextual disclosures to communicate information on intellectual capital. / Financial Accounting / M. Com. (Accounting)
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Recept för ett lyckligt äktenskap? : Företagskulturell integration efter internationell M&AEriksson, Daniel, Forsblom, Jesper January 2016 (has links)
Bakgrund och syfte: Tidigare studier visar att internationella M&A:s ofta misslyckas med att uppnå uppsatta mål. En anledning till misslyckande kan vara svårigheten att integrera företagskulturen i den nya verksamheten. Studiens syfte är att öka förståelsen för integration av företagskultur efter internationella M&A:s utifrån svenska företags perspektiv. Metod: Studien har en kvalitativ metod med en abduktiv forskningsansats. Studien har en hermeneutisk och socialkonstruktivistisk utgångspunkt. Den empiriska datainsamlingen införskaffades genom semistrukturerade intervjuer med elva stycken personer vilka samtliga haft en roll i respektive företags M&A. Vår teoretiska referensram innefattar tidigare forskning och det empiriska underlaget bygger på intervjuerna. Analysen ställer empiri mot teori för att hitta likheter och skillnader och addera nya synvinklar. Resultat & slutsats: Denna studie åskådliggör hur företag efter internationell M&A ser på, och arbetar med, integration av företagskultur. Med hjälp av den teoretiska referensramen skapade vi en uppfattning om vilka delar som behövdes för att framgångsrikt integrera företagskulturen, främst kommunikation. Det empiriska materialet adderade sedermera nyckelpersoner och ekonomisk rapportering. Förslag till vidare forskning: Bristfälligheten i tidigare forskning vad gäller omställning i och med ökad ekonomisk rapportering ger upphov till framtida studier som kan studera hur ökad ekonomisk rapportering påverkar de uppsatta målen. Vidare föreslår vi att framtida forskning studerar om det skiljer sig mellan tjänsteföretag och producerande företag och benägenheten för dessa att byta ut nyckelpersoner efter en M&A. Uppsatsens bidrag: Studiens teoretiska bidrag innefattar huvudsakligen ökad förståelse för problematiken kring nyckelpersoner, involverande kommunikation och ekonomisk rapportering. Det praktiska bidraget ger rådet till företag att överbemanna främst ekonomiavdelningen med kompetent personal efter en M&A för att underlätta integrationen. / Aim: Previous studies have shown that international M&A:s has high failure rates. One reason for failures has been shown to be the difficulty and lack of knowledge to integrate corporate culture. The aim for this study is therefore to increase the understanding of corporate culture integration after international M&A:s through the perspective of Swedish businesses. Method: This study has a qualitative research design with an abductive approach. The study has both a hermeneutic and social constructionist perspective, which it’s being influenced by. The empirical data collection was gained by semi-structured interviews with eleven respondents with previous experience of M&A:s. Our theoretical framework includes previous research and the empirical compilation is based on the interviews. The analysis is where the theoretical framework and empirical compilation is analyzed together to find similarities and differences but also new aspects on the subject. Result and conclusions: This study illustrates how businesses look at international M&A:s and how they work with the integration of corporate culture in that context. With the theoretical framework we could estimate what was necessary to integrate corporate culture successfully, which was mainly communication. The empirical compilation later added key personnel and financial reporting to this. Suggestions for future research: The deficiency of previous research regarding the impact of increased financial reporting after M&A:s cause us to enquire future research on how it affects businesses and the integration of corporate culture. We also suggest that future research on key personnel is needed and how their importance differs between the service sector and industrial sector. Contributions of the thesis: From the theoretical viewpoint the study contributes in further understanding of key personnel, communication and financial reporting in the context of international M&A:s. From the practical viewpoint we advise businesses to first and foremost overstaff the financial department with qualified personnel after M&A:s to facilitate corporate culture integration.
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財務報表舞弊偵測模型之建立-以中國上市公司為例 / Building Fraudulent Financial Statement Detecting Model: Evidence from China Listed Companies甄典蕙, Chen, Tien Hui Unknown Date (has links)
由於財務報表舞弊往往足以震撼投資大眾,造成資本市場重大損失,各國監管單位無不盡力降低此事件之爆發,以維護資本市場秩序、保障投資人,是以本研究欲瞭解影響中國大陸上市公司舞弊之因素為何,以及如何建立舞弊預測模型提供財務報表使用者作為參考之用。本文利用2007年至2014年受懲罰之上市公司為研究對象,採Logistic迴歸進行實證分析,結果顯示裁決性收入與Z"-Score對於財務報表舞弊無顯著相關,相反的獨立董事比例、是否具ST壓力、存貨週轉率、應收帳款週轉率、主營業務利潤率與財務報表舞弊具顯著關係,另外利用迴歸結果中顯著變數建立財務報表舞弊模型,發現整體正確率為53.31%。 / Due to the severe impacts caused by fraudulent financial reporting, securities regulatory commissions in most countries put much emphasis on maintaining the order of the capital markets and protecting the investors’ interests. In order to realize the factors of financial statement fraud, especially for China listed companies, and build the detecting model for the financial statements users, I select some listed companies punished by the government during the period 2007-2014 as the samples in this dissertation. Then, I use logistic regression model to test which variables are significant to fraudulent financial reporting, and the results show that the discretionary revenue and Z"-Score do not have impact on it. On the contrary, the percentage of independent directors, pressure from avoiding being “ST”, inventory turnover, accounts receivable turnover, and percentage of income from main operation are significantly relevant to fraudulent financial reporting. Moreover, when including these significant variables in the detecting model, the accuracy of the model can up to 53.31 percent.
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Evaluering van twee groepe dubbelgenoteerde maatskappye, wat op die JSE Sekuriteitebeurs van Suid-Afrika genoteer is, vir suksesvolle omskakeling na internasionale finansiele verslagdoeningstandaarde teen 2005Smith, Heidi Helette 12 1900 (has links)
Thesis (MAcc (Accountancy))--University of Stellenbosch, 2005. / The fact that investors increasingly invest in companies from another country than
the investor himself and the consequential globalisation of capital markets, resulted
in the European Parliament and Council (EP) accepting Regulation No. 1606/2002
during 2002. The consequence of the regulation was that uniform accounting
standards had to be implemented throughout the European Union (EU). The
accounting standards that were accepted, are the International Financial Reporting
Standards (IFRS) (previously known as International Accounting Standards (IAS)).
The regulation further determined that the effective date of this required compliance
with IFRS was 1 January 2005. At the time when the regulation was accepted, most
companies that were listed on the JSE Securities Exchange of South Africa (JSE) still
prepared their financial statements in accordance with South African Statements of
Generally Accepted Accounting Practice (South African SGAAP). The implication of
the acceptance of the regulation by the EP was that in the event that a company was
not only listed on the JSE but also on a stock exchange in the EU, the financial
statements of that company would have to be prepared in accordance with IFRS.
In this study two groups of companies were selected for evaluation. The one group
consists of companies with a primary listing on the JSE and a secondary listing in the
EU (first group) and the other group has a primary listing in the United Kingdom (UK)
and thus the EU, with a secondary listing on the JSE (second group). The purpose of
the study is to identify the implications of the acceptance of abovementioned
regulation on the financial reporting of the selected companies.
Firstly, a study was made of the differences between the Generally Accepted
Accounting Practice of the United Kingdom (UK GAAP) and IFRS. The reason for this
largely relates to the fact that there are still substantial differences between these two
sets of accounting standards. No such study was conducted in respect of differences
between South African SGAAP and IFRS as South African SGAAP was completely
replaced by IFRS during 2004 and hence no differences exist any more. The only
exception relates to the 500 series of standards that are unique to South Africa.
There are, however, only two issued standards in this series and hence no further
attention was paid to that. Hereafter the 2002 financial statements of all the selected companies were evaluated
by measuring it against an IFRS disclosure checklist for 2002. The purpose was to
identify the extent to which the selected companies comply with IFRS by focusing on
the areas with regards to which they do not comply with IFRS. It was found that the
companies of the first group largely fail to comply with IFRS in respect of matters of
disclosure, whilst the second group of companies sometimes also, in their application
of recognition requirements and measurement guidelines, used different practices to
those suggested by IFRS. This was largely attributable to the fact that there are
substantial differences between UK GAAP and IFRS, whilst South African SGAAP
and IFRS already were very similar until recently.
Consequently, questionnaires were sent to interested selected companies in which
they could give feedback on their level of awareness and perceptions of the required
transition to IFRS by 2005 as well as the procedures that they have followed or will
follow in their process of transition to IFRS.
Fourthly the 2003 financial reports of the selected companies were evaluated for
compliance with IFRS by measuring it against the IFRS disclosure checklist that
would be applicable on their 2004 financial periods. This was done in order to
determine whether the selected companies showed any progress in their level of
compliance with IFRS. This process also identified which IFRS, which were issued
during 2003/2004, will be applicable on the 2004 or later financial periods of the
selected companies, as these are further areas that will demand the attention of the
selected companies in their process of becoming IFRS compliant. It was found that
all selected companies showed rather little progress in their level of IFRS
compliance. It is however concerning that even though South African SGAAP were
previously very narrowly aligned with IFRS, the companies of the first group still fail to
comply with fairly simple disclosure requirements. It would thus appear that they do
not take the process of transition to IFRS serious enough. The fact that the second
group of companies also did not make much progress can still be justified by the fact
that UK GAAP were not aligned closer to IFRS during 2003 and most of the selected
companies were still busy with the planning process for the transition to IFRS. It is
expected that the financial statements of these companies will display substantial
progress in their 2004 financial periods. Finally the compliance mechanisms were studied in order to determine which
processes are in place to ensure that companies will indeed comply with IFRS. This
study was done in respect of the EU, the UK and South Africa. All three these
regions either already have or will have bodies in the near future that will have the
task of evaluating the financial statements of listed companies for IFRS compliance.
The conclusion is however that as a result of the negative consequences of noncompliance
with IFRS sufficient factors do exist that will motivate companies to fully
comply with IFRS. In addition, the listing requirements of the JSE has changed and
financial reporting in accordance with IFRS is now a requirement.
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公司治理特質與內部稽核對財務報導可靠性貢獻之關聯性研究林高賦 Unknown Date (has links)
本研究以台灣上市、上櫃及興櫃公司為研究對象,利用問卷發放的方式,探討我國企業公司治理特質與內部稽核對財務報導可靠性貢獻之關係,並調查我國內部稽核之現況,以及內部稽核人員與外部查核人員之互動情形。本研究之實證結果顯示:(1)「公開發行公司建立內部控制制度處理準則」於2005年修訂,規定內部稽核單位應直接隸屬於董事會之後,內部稽核人員普遍認為其地位與獨立性有明顯提升。但我國企業內部稽核規模仍偏低,以1~2人為主;(2)監察人(或審計委員會)複核內部稽核工作之範疇、內部稽核之規模、內部稽核人員與外部查核人員之互動情形等,與內部稽核對財務報導可靠性之貢獻度呈顯著正相關
;以及(3)針對內部稽核人員與外部查核人員之互動情形(包含工作協調、溝通、外部查核使用內部稽核結果之程度),內部稽核人員的認知普遍優於外部查核人員的認知。 / This paper examines the relationship between corporate governance characteristics and internal auditors’ assessments of their contributions to financial reporting reliability. This study also investigates the current status of internal auditing in Taiwan and the interaction between internal auditors and external auditors. Our results show that (1) since the applicable laws require that the internal audit department must report directly to the board of directors, internal auditors’ independence and position in their companies have improved significantly. However, the number of internal auditors in most companies is still low; (2) the extent to which the supervisors (or audit committee members) review internal audit results, the total numbers of staff in an internal audit department, and the relationship between internal and external auditors are positively related to internal auditors’ contribution to a firm’s financial reporting reliability; and (3) in general, internal auditors’ perceptions of their interactions with external auditors is better than those of external auditors.
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HARMONIZACE ÚČETNICTVÍ SE ZAMĚŘENÍM NA PROCES KONVERGENCE IFRS A U. S. GAAP / Harmonization of accounting and financial reporting focussed on convergence process between IFRS and US GAAPVlčková, Zuzana January 2010 (has links)
This thesis explains the main purposes and aims of the convergence process between International Financial Reporting Standards and the American Generally Accepted Accounting Prinicples in a join projects between IASB (International Accounting Standards Board) and FASB (Financial Accounting Standard Board). In respect of the join projects, two are described. These are: "Revenue recognition" and "Presentation of financial statements". A major part of the financial statement element is the draft of statement of comprehensive income. Readers of this thesis will find included information about IFRS conceptual framework and in addition details of its planned replacement, which comes from convergence process.
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Regulace účetního výkaznictví ve Švýcarsku / The Regulation of Financial Reporting in SwitzerlandHelus, Petr January 2010 (has links)
The paper deals with the problems of financial reporting in Switzerland. In the introduction, the reader gets the idea of the concept of regulation which is structured in two levels. Both of them are focused on more deeply in the following chapters. The first chapter analyses the regulation included in the "Commercial Code" (Obligationenrecht). Furthermore, the framework of the current Swiss commercial-law and the regulation of auditing are addressed. The second chapter focuses on the regulation based on the Swiss generally accepted accounting principles (Swiss GAAP FER), including their Conceptual Framework. The third chapter is dedicated to examples of financial reporting according to Swiss GAAP FER (presentation of financial statements, provisions).
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Rozšířené využití IFRS v České republice / Extended use of IFRS in Czech RepublicJuříček, Tomáš January 2010 (has links)
The thesis is focused on differences of Czech accounting legislation and International Financial Reporting Standards. The reason of selection the theme is a continual confrontation between these two concepts, that I meet since study period till current practise. In the first phase of this work is my attempt to describe the structure of creation and functioning of the rules. The next phase of the thesis reveals the use of IFRS in the Czech Republic before 1 January 2011.Subsequently describes an amendment to the Accounting Act, which since January 2011, extends the application of IFRS. Following the changes is an attempt to describe an approach to the financial statements under IFRS. This also includes the anticipated development of the rules in the future. Thesis should give a comprehensive view on the reporting of financial information under IFRS.
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