Informal interactions between audit committees and internal audit functions : exploratory evidence and directions for future research

Purpose – This paper aims to recognise the importance of informal processes within corporate governance and complement existing research in this area by investigating factors associated with the existence of informal interactions between audit committees and internal audit functions and in providing directions for future research. Design/methodology/approach – To examine the existence and drivers of informal interactions between audit committees and internal audit functions, this paper relies on a questionnaire survey of chief audit executives (CAEs) in the UK from listed and non-listed, as well as financial and non-financial, companies. While prior qualitative research suggests that informal interactions do take place, most of the evidence is based on particular organisational setting or on a very small range of interviews. The use of a questionnaire enabled the examination of the existence of internal interactions across a relatively larger number of entities. Findings – The paper finds evidence of audit committees and internal audit functions engaging in informal interactions in addition to formal pre-scheduled regular meetings. Informal interactions complement formal meetings with the audit committee and as such represent additional opportunities for the audit committees to monitor internal audit functions. Audit committees’ informal interactions are significantly and positively associated with audit committee independence, audit chair’s knowledge and experience, and internal audit quality. Originality/value – The results demonstrate the importance of the background of the audit committee chair for the effectiveness of the governance process. This is possibly the first paper to examine the relationship between audit committee quality and internal audit, on the existence and driver of informal interactions. Policy makers should recognize that in addition to formal mechanisms, informal processes, such as communication outside of formal pre-scheduled meetings, play a significant role in corporate governance.

Understanding Formal and Informal Governance on Infrastructure Projects - Literature Review [industry report]

In Australia, collaborative contracts have been increasingly used to govern infrastructure projects. These contracts combine formal and informal mechanisms to manage project delivery. Formal mechanisms (e.g. financial risk sharing) are specified in the contract, while informal mechanisms (e.g. integrated team) are not. The paper reports on a literature review to operationalise the concepts of formal and informal governance, as the literature contains a multiplicity of, often un-testable, definitions. This work is the first phase of a study that will examine the optimal balance of formal and informal governance structures. Desk-top review of leading journals in the areas of construction management and business management, as well as recent government documents and industry guidelines, was undertaken to to conceptualise and operatinalise formal and informal governance mechanisms. The study primarily draws on transaction-cost economics (e.g. Williamson 1979; 1991), relational contract theory (Feinman 2000; Macneil 2000) and social psychology theory (e.g. Gulati 1995). Content analysis of the literature was undertaken to identify key governance mechanisms. Content analysis is a commonly used methodology in the social sciences area. It provides rich data through the systematic and objective review of literature (Krippendorff 2004). NVivo 9, a qualitative data analysis software package, was used to assist in this process. Formal governance mechanisms were found to be usefully broken down into four measurable categories: (1) target cost arrangement (2) financial risk and reward sharing regime (3) transparent financials and (4) collaborative multi-party agreement Informal governance mechanisms were found to be usefully broken down into three measurable categories: (1) leadership structure (2) integrated team (3) joint management system We expect these categories to effectively capture the key governance drivers of outcomes on infrastructure projects. These categories will be further refined and broken down into individual governance mechanisms for assessment through a large-scale Australian survey planned for late 2012. These individual mechanisms will feature in the questionnaire that QUT will deliver to AAA in October 2012.

Designing informal learning experiences for early career academics using a knowledge ecosystem model

This article presents a ‘knowledge ecosystem’ model of how early career academics experience using information to learn while building their social networks for developmental purposes. Developed using grounded theory methodology, the model offers a way of conceptualising how to empower early career academics through 1) agency (individual and relational) and 2) facilitation of personalised informal learning (design of physical and virtual systems and environments) in spaces where developmental relationships are formed including programs, courses, events, community, home and social media. It is suggested that the knowledge ecosystem model is suitable for use in designing informal learning experiences for early career academics.

Sharing social space with strangers: Setting, signalling and policing informal rules of driving etiquette

Recent research suggests that aggressive driving may be influenced by driver perceptions of their interactions with other drivers in terms of ‘right’ or ‘wrong’ behaviour. Drivers appear to take a moral standpoint on ‘right’ or ‘wrong’ driving behaviour. However, ‘right’ or ‘wrong’ in the context of road use is not defined solely by legislation, but includes informal rules that are sometimes termed ‘driving etiquette’. Driving etiquette has implications for road safety and public safety since breaches of both formal and informal rules may result in moral judgement of others and subsequent behaviours designed to punish the ‘offender’ or ‘teach them a lesson’. This paper outlines qualitative research that was undertaken with drivers to explore their understanding of driving etiquette and how they reacted to other drivers’ observance or violation of their understanding. The aim was to develop an explanatory framework within which the relationships between driving etiquette and aggressive driving could be understood, specifically moral judgement of other drivers and punishment of their transgression of driving etiquette. Thematic analysis of focus groups (n=10) generated three main themes: (1) courtesy and reciprocity, and the notion of two-way responsibility, with examples of how expectations of courteous behaviour vary according to the traffic interaction; (2) acknowledgement and shared social experience: ‘giving the wave’; and (3) responses to breaches of the expectations/informal rules. The themes are discussed in terms of their roles in an explanatory framework of the informal rules of etiquette and how interactions between drivers can reinforce or weaken a driver’s understanding of driver etiquette and potentially lead to driving aggression.

Human mating in the informal market for sperm donation: Preferences and decision making

Choosing a mate is one of the largest (economic) decisions humans make. This thesis investigates this large scale decision and how the process is changing with the advent of the internet and the growing market for online informal sperm donation. This research identifies individual factors that influence female mating preferences. It explores the roles of behavioural traits and physical appearance, preferences for homogamy and hypergamy, and personality, and how these impact the decision to choose a donor. Overall, this thesis makes contributions to both the literature on human behaviour, and that on decision-making in extreme and highly important situations.

Turnover intentions of employees with informal eldercare responsibilities: The role of core self-evaluations and supervisor support

As longevity increases, so does the need for care of older relatives by working family members. This research examined the interactive effect of core self-evaluations and supervisor support on turnover intentions in two samples of employees with informal caregiving responsibilities. Data were obtained from 57 employees from Australia (Study 1) and 66 employees from the United States and India (Study 2). Results of Study 1 revealed a resource compensation effect, that is, an inverse relationship between core self-evaluations and turnover intentions when supervisor care support was low. Results of Study 2 extended these findings by demonstrating resource boosting effects. Specifically, there was an inverse relationship between core self-evaluations and subsequent turnover intentions for those with high supervisor work and care support. In addition, employees' satisfaction and emotional exhaustion from their work mediated the inverse relationship between core self-evaluations and subsequent turnover intentions when supervisor work support and care support were high. Overall, these findings highlight the importance of employee- and supervisor-focused intervention strategies in organizations to support informal caregivers.

El trabajo informal está en aumento y es necesario reformular las políticas de empleo

Con el agotamiento de la licuación de salarios se desaceleró la generación de empleo en Argentina, un fenómeno que -aunque coincidente- ha sido independiente de la crisis económica mundial. Las perspectivas del mercado laboral para 2009 exhiben una clara tendencia al deterioro en la calidad de los empleos, por lo que el empleo informal podría llegar al 40% a fin de año. En este contexto, aumenta la pertinencia de propuestas para mejorar el ambiente de negocios, incentivar el registro de las pequeñas empresas y fortalecer los programas sociales para eliminar la pobreza

Colaboración como oficial de crédito en las áreas de crédito y certificaciones de UCASUMAN R.L Unión de cooperativas agropecuarias de servicios unidas de Mancotal, Departamento de Jnotega-Informe final

Durante el proceso de pasantías realizadas en por un periodo de seis meses calendario como forma de culminación de estudio en UCASUMAN R. L Unión de Cooperativas Agropecuarias de Crédito y Servicios Unidas de Mancotal me desempeñe como oficial de crédito en las cooperativas, San Francisco, San Isidro, Rubén Darío, Asturias y La Unión los Robles con 200 productores y productoras que trabajan con tecnologías orgánicas y convencionales certificados por Mercado Justo y Ocia Internacional, cuya función es fomentar una estrategia de desarrollo para las organizaciones de productores. El proceso de Pasantías es importante para el pasante ya que el estudiante participa en el desarrollo de actividades propias de la empresa que incrementa su formación académica y de esta manera se tiene la oportunidad de integrarse al campo laboral como parte del desarrollo de sí mismo en dicha empresa demostrando la habilidad de asumir responsabilidades y desarrollar un puesto de trabajo. La metodología utilizada durante el proceso de pasantías fue la entrevista a los productores mediante visitas directas a la propiedad gestionando cobros realizadas por la oficial de crédito con el objetivo de incentivar al productor a realizar entregas de café al centro de acopio de su cooperativa de base. La función del área de crédito es la colocación de crédito a las cooperativas de base y su recuperación, visitas técnicas y apoyo en campo al área de certificaciones en sus actividades. Durante el periodo de trabajo las funciones del pasante fueron el seguimiento de cartera a través de cartas de cobro para recuperación de cosecha, levantamiento de solicitudes de crédito, apoyo a las cooperativas para las visitas de las certificadoras, levantamientos de fichas diagnosticas para gestión de proyectos parte de la ejecución del plan de trabajo. Las actividades realizadas durante el proceso de proceso de pasantía son: levantamiento de 200 fichas diagnósticas, elaboración y levantamiento de 150 solicitudes de crédito para fines crediticios, 180 visitas de campo para gestión de cobro, llenado de 100 cuadernos de registro y 100 charlas brindadas sobre normas orgánicas para la certificación. El trabajo en equipo realizado por el pasante con sus compañeros de trabajo y jefa inmediata , comunicación con los socios, elaboración o ejecución de planes de trabajo, las diferentes situaciones presentadas en la etapa de campo fueron parte de las lecciones aprendidas durante mi desempeño ya que pude conocer y comprender el modo de producción de estos productores apoyando en la prevención de la contaminación de las fuentes de agua con desechos sólidos, fomentar la reforestación como una opción amigable con el medio ambiente y la implementación de obras de conservación de suelo para mejorar su producción y fertilidad.

Programas de investimento do governo federal : guia informal

Apresenta a distribuição dos programas de investimento do Governo Federal, organizada por ministério e por secretaria, de acordo com informações colhidas em sites institucionais e normas técnicas fornecidas pelos mesmos. Oferece informações sobre os procedimentos adequados para a obtenção desses recursos e indica os caminhos para parlamentares, prefeitos e outros agentes políticos encaminharem seus pleitos. Traz informações detalhadas dos programas do Governo Federal, tanto para facilitar o acesso aos seus recursos, como também para gerar melhores condições de fiscalização.

Aperfeiçoamentos no DL nº 167/67 : emolumentos extrajudiciais e garantias reais em Cédulas de Crédito Rural-CCR e em Cédulas de Crédito Bancário-CCB

Consultoria de Orçamento e Fiscalização Financeira.

Sobre as alterações no crédito imobiliário e outras referentes à política habitacional contidas na MP 2.212 de 30/8/01 e nas MPs 2.221 e 2.223 de 4/9/01

Consultoria Legislativa - Área VII - Finanças, Direito Comercial, Direito Econômico, Defesa do Consumidor - Área XI - Meio Ambiente, Geografia, Urbanismo, Arquitetura.

Elaboração de minuta de projeto de lei complementar, alterando o Código Tributário Nacional, incluindo a confusão como modalidade de extinção do crédito tributário

Consultoria Legislativa - Área III - Direito Tributário.

As medidas provisórias e o seu uso para versar sobre crédito extraordinário

Analisa o instituto da Medida Provisória e o seu uso para versar sobre crédito extraordinário, abordando a origem e a importância do instituto da legislação de urgência e a adaptabilidade desse instrumento em matéria orçamentária. Desenvolve hipóteses sobre os efeitos jurídicos advindos com a edição de Medida Provisória de crédito extraordinário. Sugere modificação na forma vigente para a concessão dessa delegação legislativa ao governo brasileiro.

Gestión del riesgo operativo en las entidades de crédito: un camino sin retorno

[ES] Este trabajo presenta la problemática de la gestión del riesgo operativo en las entidades de crédito en el ámbito europeo. Aprobado el texto definitivo del denominado Comité de Supervisión Bancaria (Basilea II), con especial y novedosa regulación del riesgo operativo, amanece como inminente su integración e la regulación bancaria de la UE, y, por tanto, su pronta implantación y supervisión por las autoridades monetarias y financieras. Esta nueva normativa, de carácter flexible y profesional, introduce en el seno del gobierno corporativo de las entidades de crédito nuevos elementos que afectarán a su cultura interna (cultura de gestión de los riesgos), afectando a las decisiones estratégicas y a la organización de las entidades, incentivando a la mejora de la calidad de sus procesos, servicios y operaciones. Todo lo cual supone una acicate para perseguir la eficiencia continua a nivel individual y a nivel del sistema financiero, con visos de adquirir dimensión estratégica. De esta manera, se abre un espacio para la investigación y creatividad en la aplicación y desarrollo de los postulados científicos de la Economía de la Empresa, con posibilidades de incorporarlos a otros sectores empresariales de similar afectación por los riesgos operativos.

Las distintas relaciones que surgen de la operación de crédito documentario y su naturaleza jurídica

Este artículo trata sobre las transacciones comerciales internacionales y los contratos de compraventa que estipulan las condiciones en las que se va realizar el contrato. Concretamente se analizan las relaciones que surgen de la operación de crédito documentario. El crédito documentario como insititución propia del Derecho bancario estaría formado por dos o más contratos según intervengan uno o varios bancos, pero en su esencia serían dos los contratos que lo forman el de comisión entre ordenante y banco y el contrato independiente existente entre banco y beneficiario.