...Abstract Businesses today face heightened expectations around their role in society and the world, with turning a profit only one of many criteria by which performance is measured. Rising in importance is the impact a company has on its stakeholders, society, and even the planet. Integrated reporting, which encompasses elements of traditional financial reporting, sustainability reporting, and governance reporting within a single presentation, represents a growing trend that reflects these new expectations. The core concept underlying the term “integrated reporting” is providing one report that fully integrates a company’s financial and non-financial (including environmental, social, governance and intangibles) information. Integrated reporting offers the opportunity to centre business reporting on strategy and value creation, to demonstrate how the business uses capital and the extent to which they should continue to be invested in business. Integrated reporting is a journey. Organizations are unlikely to achieve perfection in the first year. In the absence of a generally accepted framework, companies that wish to move toward integrated reporting may encounter several dilemmas around relevance, scope, assurance and other issues. However, as reporting processes for the production of the supporting information are designed and improved and as the executive team begins to benefit from a more informed implementation of the governing structures’ decision, reporting will improve...
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...have Title of the Paper, the name of the author (s) and complete mailing address. Length of paper should not be more than 3000 words, using MS-Word with Times New Roman Font Size 12 points and 1.5 Line spacing with 5-6 keywords. The participants are requested to forward the abstract and full papers via soft copy at the email id: conferencemgc2016@gmail.com LCD projector/Laptops will be provided for the presentation. Authors will be given time for paper presentation by keeping in view the whole management of event. Submission of Abstract Submission of full Length Paper th : 28 January, 2016 SRI FATEHGARH SAHIB "To Strive, To Seek, To Find & Not to Yield" ORGANIZING COMMITTEE CONFERENCE PATRON Jathedar Avtar Singh President SGPC & College Governing Body CONFERENCE DIRECTOR Dr. Jatinder Singh Sidhu Director-Principal, Mata Gujri College, Fatehgarh Sahib st I International Conference on On 3rd February, 2016 CONFERENCE CHIEF GUEST Mr. C.R. Bector Professor Emeritus Faculty of Management, University of Manitoba Winnipeg, Canada Attendance Certificate and Registration Rules: Participants are requested to make transportation and accommodation arrangement on their own. However, outstation participants will be provided accommodation on payment only. : 20 January, 2016 Academicians : Rs.1000 Industrialists : Rs.1500 Research Scholars : Rs. 800 Students : Rs. 500 Participants from Other Countries : $50 Selected papers will be published in an edited volume after the conference...
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...REPORT ON THE INTERACTIVE SESSION OF FINANCE & ACCOUNTS DEPARTMENT, CORPORATE AFFAIRS COMMISSION Venue: KEFFI HEALTH CLUB, KEFFI. Date : 23rd January 2010 Climate setting for the program was tuned by the Deputy Director Final Accounts/Mrs.B.F.Ikhanoba. Samuel Archibong offered the opening prayers. The DD/FA introduced the Senior Executives present. The Acting DFA/Mr. M.U.Wambai delivered the opening remarks with a word that the aim of the forum is to develop human capacity. Declaring the interactive session open the DFA emphasized on participation by all present. • The first paper was presented by the Senior Manager, Final Accounts/ K.M.Jemaku. Titled: FIXED ASSET MANAGEMENT – OPERATION & CHALLENGES: It defined and classified fixed assets, their management, depreciation and disposal. The management of Fixed Assets was noted to be a huge challenge to Finance & Accounts Department because of the many lapses imminent. The Sun System Fixed Assets module captured most of the detail data identifying an asset, and provides information automatically. Each asset is then assigned a code to further give the required peculiarity in the database. The presenter identified the challenges as follows; - Time lag between coding and labeling of assets. - Difficulty in tracing assets to assigned locations. - Failure to code some assets making disposal difficult. - Inability to reconcile physical assets with the register. Other issues relating to management of Fixed...
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...Hocutt Baptist Church Constitution and By-Laws CONSTITUTION FOR HOCUTT BAPTIST CHURCH OF CLAYTON, NORTH CAROLINA PREAMBLE We declare and establish this constitution for the preservation and security of the principles of our faith so that this body may be governed in an orderly manner. This constitution will preserve the liberties of each individual member of this church and the freedom of action of this body in its relation to other churches of the same faith. ARTICLE 1 – NAME This body shall be known as the Hocutt Baptist Church. The church is located in the town of Clayton, North Carolina in Johnston County. ARTICLE 2 – HISTORY The history of Hocutt Baptist Church began on January 13, 1957, when the church was officially organized. Early efforts date back to November 26, 1956. The 63 charter members met in homes for prayer and discussion concerning the organization of the church. The first services were held in the home of Mr. and Mrs. Pete Pulley. After this, permission was given for use of the Clayton Woman’s Club as a temporary place of worship, and the group worshipped there until the completion of the first unit of the building. Many people made sacrificial efforts in the organization of the church. Committees were formed, and much work was accomplished. Rev. J.L. Atkins, first pastor of the church, conferred with the pastor of the First...
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...The Impact of Sarbanes-Oxley Act of 2002 on Accounting and Finance Departments Danika Grace Brown Lakeland College Kellett School of Business – BlendEd BA 772 Advanced Industrial Accounting II Instructor Mary Diederich March 10, 2015 Table of Contents Abstract 2 Overview of the Sarbanes-Oxley Act of 2002 3 About SOX 4 Reporting and Compliance 5 Risk Assessment and Control 6 Interview at Company X 7 Standards for Corporations and Officers 8 Auditing and Financial Reporting 9 Future Impact of SOX 10 Conclusion 11 References 13 Abstract Sarbanes-Oxley is the response from Congress in regards to the financial industry collapse that happened over a decade ago. Due to unethical reporting from corporations, Sarbanes-Oxley (SOX) is a United States federal law that set new or enhanced standards for all U.S. public company boards, management and public accounting firms. As a result of SOX, top management must individually certify the accuracy of financial information. In addition, penalties for fraudulent financial activity are much more severe. Furthermore, SOX increased the oversight role of boards of directors and the independence of the outside auditors who review the accuracy of corporate financial statements. This paper will look to provide an oversight of the law and how it pertains to the standards in Accounting and Finance departments nowadays. In addition, this paper will also touch on the ongoing costs and benefits of the now standard...
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...requirement for everybody pursuing a BBA degree at University of Dhaka. The Internship program includes organizational attachment period of 12 weeks and report writing period of 4 weeks. I am working with the Operations Divisions of IDLC Finance Limited. After consultation with my faculty advisor Mr. Md. Nazim Uddin Bhuiyan and my supervisor in the host organization Mr. Md. Abdul Hannan, I decided to work on the policies and practices of credit risk management and appraisal process of IDLC. I strongly believe that, this study will enrich my knowledge in the very crucial area of the financial institutions (FIs): Credit Risk Management. 1.2 OBJECTIVES OF THE REPORT • MAIN OBJECTIVE: The main focus of the report is on credit risk management practices and credit appraisal procedure of IDLC Finance Limited. • SPECIFIC OBJECTIVES: The specific objectives are: ❖ To look at the portfolio of sectors financed by IDLC ❖ To evaluate the norms and rules practiced in assessing the borrower ❖ To compare the credit policy of IDLC with the credit policy guideline for the financial institutions (non-bank) of Bangladesh Bank and to identify the extent to which IDLC follows this guideline. ❖ To compare the credit risk management practices of IDLC Finance Limited with that of Industrial Promotion and Development Company of Bangladesh Limited, as a sample financial institution, to get an idea of the common deviations of credit risk management practices of the FIs from the central bank...
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...Salah Shammo 7715658 Human Resource Generalist Work Term One Report Salah-shammo@hotmail.com Sean MacDonald September 21, 2015 Introduction: I successfully completed my first Co-op work term at Transportation Canada as a human resources generalist working out of the regional directors office. Transport Canada is the federal department responsible for most of the transportation policies, programs and goals of the Government of Canada. Transport work to provide Canadians with a safe, secure and efficient transportation system that protects the environment. I was responsible for developing a fundamental framework for the management team on the regional issues in respect to remote employee supervision, remote employee engagement and communications. This position has provided me with various amounts of real business world experiences ranging from project management skills, public speaking skills and written skills, as these are all very important skills to have in the business environment in order to become a manager one day. My summer position was an HR position I am currently attempting to complete a double major in Finance and accounting, the experiences I acquired through my summer position were more qualitative rather the nature of my degrees quantitative aspect. The Job: At Transport Canada, I was involved in one main project. My responsibility as the project lead was to analyze current Remote supervision, engagement and communications practices along side benchmarking...
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...for everybody pursuing a BBA degree at University of Dhaka. The Internship program includes organizational attachment period of 12 weeks and report writing period of 4 weeks. I am working with the Operations Divisions of IDLC Finance Limited. After consultation with my faculty advisor Mr. Md. Nazim Uddin Bhuiyan and my supervisor in the host organization Mr. Md. Abdul Hannan, I decided to work on the policies and practices of credit risk management and appraisal process of IDLC. I strongly believe that, this study will enrich my knowledge in the very crucial area of the financial institutions (FIs): Credit Risk Management. 1.2 OBJECTIVES OF THE REPORT • MAIN OBJECTIVE: The main focus of the report is on credit risk management practices and credit appraisal procedure of IDLC Finance Limited. • SPECIFIC OBJECTIVES: The specific objectives are: ❖ To look at the portfolio of sectors financed by IDLC ❖ To evaluate the norms and rules practiced in assessing the borrower ❖ To compare the credit policy of IDLC with the credit policy guideline for the financial institutions (non-bank) of Bangladesh Bank and to identify the extent to which IDLC follows this guideline. ❖ To compare the credit risk management practices of IDLC Finance Limited with that of Industrial Promotion and Development Company of Bangladesh Limited, as a sample financial institution, to get an idea of the common deviations of credit risk management practices of the FIs from the central...
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...solutions have been suggested to overcome the said problems. Finally, an objective conclusion is made to make a stand about the given case study. This is important as it could facilitate the auditor to make an appropriate decision for the said case. B. COMPANY BACKGROUND Flat Cargo Berhad (FCB) was established in 1997 as the mean of providing air freight services to the Intra-Asia air market. FCB’s services were not only limited to air freight and aircraft ground handling but also included aircraft charter and leasing. FCB was chaired by Dato’ Ibrahim Samad, a former Director General for the Ministry of Transportation and former President of Malaysian Chamber of Commerce. He was the company’s Independent Non-Executive Director (INED). The top management team consisted of Mr Lim Loon Sim as the Chief Executive Officer, Mr Ali Bin Ahmad as the Executive Director and Mr Kim Boon Chok as the Chief Financial Officer. Mr Ali Bin Ahmad also held the...
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...Suspension 7 Section 1.05: Summaries 7 Section 1.06: Guidelines 7 2. Article 2: Board of Directors and Executive Council Procedures Policy 7 Section 2.01: Powers of the Chairpersons of the Board of Directors and Executive Council 7 Section 2.02: Authority to Overrule the Chairperson 8 Section 2.03: Appointment of the Board of Directors Chairperson and Vice-Chairperson 8 Section 2.04: Appointment of the Executive Council Chairperson and Vice-Chairperson 8 Section 2.05: Quorum 8 Section 2.06: Meeting Agendas 9 Section 2.07: Speaking Privileges and Agenda Structure 9 Section 2.08: Voting and Records of Votes 13 Section 2.09: Meeting Locations 14 Section 2.10: Public Attendance of Meetings 14 Section 2.11: Participation in Meetings through Electronic Means 14 Section 2.12: Appointment of Proxies 14 Section 2.13: Secretary of the Board of Directors and Executive Council 15 3. Article 3: Board of Directors Committee Policy 16 Section 3.01: Purpose and Nature of Board of Directors Committees 16 Section 3.02: Committee Terms 16 Section 3.03: Inclusion of the General Membership of the Society 16 Section 3.04: Public Attendance of Committee Meetings 17 Section 3.05: Committee Quorum 17 Section 3.06: Committee Appointments 17 Section 3.07: Committee Chairpersons 18 Section 3.08: Committee Membership Requirements and Restrictions 19 Section 3.09: Stripping of a Committee Appointment 20 Section 3.10: Frequency of Meetings 20 Section 3.11: Standing Committees Roster...
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...Framework for Enterprise Risk Management © 2013 Johnson & Johnson Contents Introduction. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4 J&J Strategic Framework . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5 What is Risk?. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7 J&J Approach to Enterprise Risk Management. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8 Governance & Oversight. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 15 Conclusion . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 17 . . 2 3 Introduction In order to deliver value to our consumers, patients, caregivers, employees, communities and shareholders, we at Johnson & Johnson (J&J) must understand and manage the risks faced across our entire organization. Risks are inherent in our business activities and can relate to strategic threats, operational issues, compliance with laws, and reporting obligations. This document...
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...City of McMinnville Succession Plan & A Model for Small Tennessee Municipalities 1 Table of Contents Building a case for Succession Planning ....................................................................................... 6 National Statistics ........................................................................................................................ 6 Tennessee Public Management Statistics (TCMA) .................................................................. 8 Succession planning a component of Workforce Planning ......................................................... 8 Benefits of Succession Planning ................................................................................................. 10 Competencies ............................................................................................................................ 10 Timing ........................................................................................................................................ 11 Foundation ................................................................................................................................. 11 Additional Information and Preliminary Work .......................................................................... 12 Mission, Vision, Values, and Goals ...........................................................................
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...Sarbanes Oxley Companies Abstract Sarbanes oxley act 2002 was passed on July 30, 2002 and only the public companies are now feeling its impact. This act frequently called the “most significant accounting or auditing legislation since the securities exchange Act of 1934”. After the implementation it has established its demands to the companies for proper management and disclosure of risk. Nortel networks is a giant corporate in telecom industry and as it is expected they also have faced the challenges come from the SOX act. Some of them are in favor and some are against the Nortel. ‘SOX’ has manipulated a larger impact on Nortel internal employee and external customers as well as their financial statement. The outcome of the Nortel is clearly different from before implementing the SOX. This paper is to find out the deeper understanding of SOX, how it governs the public corporate, financial disclosure and practice of public accounting in general sense. Besides this it will focus on the outcomes of Nortel network after implementation of SOX and its financial statement. Introduction There have been found a number of corporate financial scandals (e.g. Tyco International) that provides various type of weakness in the governance and auditing practice in the organization. It represents the failures in controlling the reliability and integrity to the stock markets. The scandals cost billions of dollars for the investors when the affected companies were collapsed. As a result, these...
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...The Violet Bay School INTRODUCTION According to the Government Accounting Standards Board (GASB), the objective of financial reporting is to assist a government entity in fulfilling its obligation to be publicly accountable and to enable users to assess accountability (GASB 2007; Government Accountability Office [GAO] 2007). Budgeting, a process whereby government administrators forecast expected revenues and identify planned expenditures, is an integral part of accountability, and the extent to which a governmental entity adheres to its budget is a major consideration when assessing accountability. In August 2005, Violet Bay1 taxpayers were informed that their school system had run a $7 million deficit after several previous assurances that the system was fiscally sound and would finish the year with a surplus. By November 2005, an external audit determined that the actual deficit was $12.1 million. Three months later, a special grand jury report was released describing the causes of the financial crisis and addressing the means to correct the situation. What went wrong? Place yourself in the role of an auditor or a consultant and identify the problems. As you do so, you will better appreciate the importance of internal control and will gain experience in identifying and assessing client risks. While this case involves a governmental entity—a school district—no prior coursework in governmental accounting is required to complete case requirements. PART I – THE BUDGET PROCESS The...
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...KUWAIT FINANCE HOUSE (MALAYSIA) BERHAD (672174-T) (Incorporated in Malaysia) Directors' Report and Audited Financial Statements as at 31 December 2010 Registered Office Level 18, Tower 2, Etiqa Twins, 11 Jalan Pinang, 50450 Kuala Lumpur KUWAIT FINANCE HOUSE (MALAYSIA) BERHAD (672174-T) (Incorporated in Malaysia) CONTENTS PERFORMANCE OVERVIEW STATEMENT OF CORPORATE GOVERNANCE DIRECTORS' REPORT STATEMENT BY DIRECTORS STATUTORY DECLARATION REPORT OF SHARIAH COMMITTEE INDEPENDENT AUDITORS' REPORT STATEMENTS OF FINANCIAL POSITION INCOME STATEMENTS STATEMENTS OF COMPREHENSIVE INCOME STATEMENTS OF CHANGES IN EQUITY STATEMENTS OF CASH FLOWS NOTES TO THE FINANCIAL STATEMENTS PAGE 1 1 - 18 19 - 23 24 25 26 - 27 28 - 29 31 - 32 33 34 35 36 - 37 38 - 139 KUWAIT FINANCE HOUSE (MALAYSIA) BERHAD (672174-T) (Incorporated in Malaysia) 1 PERFORMANCE OVERVIEW The Group and the Bank registered a loss after taxation of RM75.6 million and RM97.3 million respectively for the financial year ended 31 December 2010 due to the more challenging operating environment in 2010 as the Group and the Bank embarked on its business realignment and restructuring plans in early 2010. The total assets of the Group has decreased by RM661.5 million to RM10.9 billion as at 31 December 2010. Despite the anticipated full year results, the Group made marked progress in Quarter 1 to Quarter 4 of 2010 profit/(loss) before taxation and the Group stood on a strong capitalised position with a...
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