Disclosures on Control over Financial Reporting : the Reporting Practice of Banks Listed on the Warsaw Stock Exchange

• Autorzy: Jacek Gad
• Języki publikacji: EN

Abstrakty

EN

The purpose of this paper is to identify the effects of the implementation of selected regulations on corporate governance in the reporting practice of banks listed on the Warsaw Stock Exchange. The survey examined the disclosures concerning the main features of the internal control and risk management systems in relation to financial reporting in banks. Research studies on disclosures related to control over financial reporting have not yet been conducted. The paper uses a research method involving the analysis of annual reports disclosed by banks. The method of induction was used in the process of inference. The results of the study indicate that in the practice of reporting of banks listed on the Warsaw Stock Exchange in 2011, there was no uniform reporting form in terms of the presentation of information on internal control or risk management systems in relation to financial reporting. The disclosures were different both in terms of level of detail and content. In some banks disclosures were drawn at a high level of generality. (original abstract)

Słowa kluczowe

EN

Banks; Financial reporting; Internal control; Risk management

PL

Banki; Sprawozdawczość finansowa; Kontrola wewnętrzna; Zarządzanie ryzykiem

• Czasopismo: e-Finanse
• Rocznik: 2015
• Tom: 11
• Numer: nr 1
• Strony: 1--10

Twórcy

autor

Jacek Gad

• University of Lodz

Bibliografia

• Banaszkiewicz, J., Bem, T., Bryl, A., Górnik, J., Kozera, I., Leski, J., Łapiński, G., Wietrzyk, A., Witalis, M. (2003). Audyt wewnętrzny spojrzenie praktyczne. Warszawa: Stowarzyszenie Księgowych w Polsce.
• Bauwhede, H.V., Willekens, M. (2008). Disclosure on Corporate Governance in the European Union. Corporate Governance: An International Review, 16 (2), 101-115.
• Bedard, J. C. (2009). Corporate Governance and Internal Control over Financial Reporting: A Comparison of Regulatory Regimes. The Accounting Review, 84 (3), 839-867.
• Clarke, T. (2004). Cycles of Crisis and Regulation: the Enduring Agency and Stewardship Problems of Corporate Governance. Cycles of Crisis and Regulation, 12 (2), 153-161.
• Clarke, T. (2005). Accounting for Enron: Shareholder Value and Stakeholder Interests. Corporate Governance: An International Review, 13 (5), 598-612.
• Directive 2006/46/EC of the European Parliament and of the Council of 14 June 2006 amending Council Directive 78/660/EEC on the annual accounts of certain types of companies, 83/349/EEC on consolidated accounts, 86 / 635/ EWG on the annual and consolidated accounts of banks and other financial institutions and 91/674/EEC on the annual accounts and consolidated accounts of insurance undertakings.
• EU, (2003). Modernising Company Law and Enhancing Corporate Governance in the European Union - A Plan to Move Forward. Communication from the Commission to the Council and the European Parliament. Brussels, 21.5.2003, COM 284 final. Retrieved from: http://ec.europa.eu/internal_market/company/docs/modern/governance-consult-responses_en.pdf.
• Gad, J., Walińska, E. (2012). Raporty rady nadzorczej jako uzupełnienie koncepcji raportów biznesowych - zarys koncepcji. Acta Universitatis Lodziensis Folia Oeconomica, 263, 109-119.
• Hoitash, U., Hoitash, R., Bedard, J. C. (2009). Corporate Governance and Internal Control over Financial Reporting: A Comparison of Regulatory Regimes. The Accounting Review, 84 (3), 839-867.
• Horn, L. (2012). Corporate Governance in Crisis? The Politics of EU Corporate Governance Regulation. European Law Journal, 18 (1), 83-107.
• IAASB, (2006). Internal Control over Financial Reporting - Guidance for Smaller Public Companies, COSO. Retrieved from http://www.coso.org/ICFR-GuidanceforSPCs.htm.
• IFAC, (2011). Evaluating and Improving Internal Control in Organizations. International Good Practice Guidance. Professional Accountants in Business Committee. Retrieved from http://www.ifac.org/publications-resources/ evaluating-and-improving-internal-control-organizations-0.
• IFAC, (2011). Global Survey on Risk Management and Internal Control, Results, Analysis, and Proposed Next Steps. Published by the Professional Accountants in Business Committee. Retrieved from: http://www.ifac.org/publications-resources/global-survey-risk-management-and-internal- control.
• ISO 31000, (2009). Risk management. Principles and guidelines. Retrieved from: http://www.iso.org/iso/home/ standards/iso31000.htm.
• Marcinkowska, M. (2013). Corporate governance w bankach. Teoria i praktyka. Łódź: Wydawnictwo Uniwersytetu Łódzkiego.
• Nitkowski, K. (2013). Kontrola wewnętrzna instytucjonalna w systemie kontroli w przedsiębiorstwie. Warszawa: Wydawnictwo Naukowe PWN.
• Pricewaterhouse Coopers, (2009). Ład korporacyjny, zarządzanie ryzykiem i kontrole wewnętrzne. Nowe regulacje I oczekiwania rynku - czy jesteśmy przygotowani? Retrieved from: http://seg.org.pl/sites/seg13.message-asp.com/files/ lad_korporacyjny_zarzadzanie_ryzykiem_i_kontrole_wewnetrzne.pdf.
• Ritcher, P. (2002). US Crisis of Confidence. Australian Financial Review, 4/5 May, 26.
• Tipuric, D., Tusek, B., Filipovic, D. (2009). Internal and External Supervisory Mechanisms in Corporate Governance. SEE Journal of Economics and Business, 4 (2), 57-70.
• Winter, J. (2002). Report of the High Level Group of Company Law Experts on a Modern Regulatory Framework for Company Law in Europe. Brussels. Retrieved from: http://ec.europa.eu/internal_market/company/docs/modern/ report_en.pdf

Identyfikatory

DOI

10.14636/1734-039X_11_1_001