192 research outputs found
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Determinants Affecting Internal Audit Effectiveness
Get PDFThis study tries to identify the determinants that affect the effectiveness of internal auditing for listed firms in India. A sample of 300 listed companies was drawn. Questionnaires were mailed to the head of audit department, internal audit managers, internal auditor and head of accounts of each company. The overall response rate was 28.3%. The results were derived by applying multiple regression method and the three determinants turned out to be significant. The three determinants are risk-based planning, usage of Big Data and Analytics, and frequency of meetings of internal auditor (IA) with audit committee (AC) respectively. The model explains 42.8% of variations in the dependent variable (IA effectiveness). The study indeed encourages internal auditors to develop their core skills and competencies in the area of risk assessment and Big Data and Analytics for delivering better services to the auditees, the board of directors and the AC members. The implications of these findings may be of importance to internal audit professionals, accounting professional bodies and the regulators. Direction for future research is also provided
The Effects of Internal Audit, Audit Committee and Firm Characteristics on Audit Fees in a Multi-Country and Industry Setting
Get PDFThis paper examines the association between audit fees and attributes of internal audit (IA), audit committee (AC), as measured by independence and financial expertise, as well as characteristics of the firm. The determinants of audit fees have been extensively investigated in the prior literature, but the results are conflicting. We develop a comprehensive model from a multi-country and multi-industry perspective. A total of 3,136 companies covering a period of 10 years (2011-2020) with 15,247 observations from 55 countries were included in this study. We found that the most critical variables that have a significant positive effect on the audit fees are client size, leverage (risk), profitability, complexity, losses, AC independence, AC expertise and auditor size. The study also shows that audit pricing is significantly negatively related to foreign operations, auditor tenure, and internal audit independence. The results highlight variables that affect audit fees across a range of countries/industries
Does Brand Love Last Forever? : A Study on Turkey’s Lovemarks
Get PDFBrand love has become an important concept in both the academic and business worlds. There are some studies in the literature conducted on consumers regarding the brand love, but no study focuses on brands that consumers are in love with. Therefore, to analyze how brand love is created and to identify the components of a sustainable brand love, we conducted a qualitative study on the brands that achieved the lovemark status several times in the survey conducted on the consumers in Turkey. We used the categories in the 2019 lovemark survey, a study conducted by Ipsos for MediaCat magazine every year, as the basis, and we evaluated brands that have been selected as lovemarks in their respective categories at least five times. Our study concluded that the brands created brand love through quality in product or service as well as diversity, customer satisfaction, brand trust, innovative products, sincerity, and emotional intimacy, being a solution-oriented brand, as demonstrated in other studies in the literature, and in addition, by creating social responsibility projects, and being accessible. These brands also made brand love sustainable through reliability, service, relevance, stand behind the promise, innovation, brand image, customer satisfaction, a sense of community, customer experience, emotional bond, trust, people-oriented communication strategy, real-life compatible products and services as well as creation of different experiences
The Analysis of the Relationship between Key Audit Matters (KAM) and Firm Characteristics: The Case of Turkey
Get PDFThe role of audit profession and the implementation of new audit standards are aimed to improve the quality of audit reports and one of the recent improvements is the inclusion of Key Audit Matters (KAM) as a separate section in the auditor’s report. The aim of introducing KAMs is to give information about the areas of higher risk and the effect of most significant events. This study aims to contribute to the current literature by determining the matters which should be included as KAMs and the factors affecting KAM disclosure. It also examines the relationship between the total number of KAMs and firm level characteristics for the Turkish market. Our findings reveal that some of the firm level characteristics have a significant impact on KAM disclosures
Sustainability in Career Development: The Impact of Career Development Culture and Career Support of Senior Management on Career Satisfaction
Get PDFThe study examined whether career development culture and career support of senior management impact employee career satisfaction. This study validated two new questionnaires: career development culture and career support of senior management. Based on the extended model of social cognitive career theory, the study proposed that these two variables positively impact on employee career satisfaction. Private sector employees (N=196) representing a range of manufacturing and service sector firms from the private sector in Sri Lanka participated in a survey. It is found that, career development culture and the career support of senior management positively impact on career satisfaction. The current findings provide implications to the extended model of social cognitive career theory by testing the hypothesized relationships with a cross sectional study. The current findings propose that an organization should develop a career development culture and the senior management should support employees’ career development in such a way that increases their career satisfaction. The study is subject to common method and common source bias, since this is a cross sectional study with a survey. Future research could be conducted with the representation of broader category of employees and industries, which promotes the generalizability of findings
Quality of Life and Quality of Work Life as Determinants of Employee Productivity: Self-reports of Tea Harvesters in Sri Lanka
Get PDFTea industry plays a prominent and strategic role in Sri Lanka due to its significant impact on national output, employment and socio-economic status. Therefore, the overall worker productivity in tea industry plays an integral role in terms of national income and foreign exchange earnings. Today, the tea industry in Sri Lanka has been facing the burning issue of declining worker productivity which is the lowest among the tea producing countries in the world. In order to increase the level of worker productivity, simply applying conventional Human Resource Management (HRM) practices is not adequate and a sustainable HRM model is a vital requirement as a strategy for dealing with this crisis and sustains the tea industry in the competitive global marketplace. This research was aimed at proposing human care practices (HCPs) and knowledge management practices (KMPs) as sustainable Human Resource Management Practices (SHRMPs) for enhancing the worker productivity through quality of work-life (QWLs) and quality of life (QLs). The study is specifically focusing on the tea industry, since tea is the key contributor for overall performances of the plantation industry. Un-structured and one-on-one interviews were used as the qualitative research technique for this study. 100 randomly selected tea harvesters who are working in well performing tea estates in Sri Lanka reported a list of HCPs and KMPs that enhance QWL and QL, which in return enhance the worker productivity. The responses of tea harvesters were grouped into pre-defined structure according to comparative importance and then were validated with the findings of previous research studies. The findings were well supported by the premises of psychological contract and social exchange theories. The study also provides some implications for policy decisions and future research directions on identified HCPs and KMPs as sustainable HR practices, which has a direct relationship on the worker productivity
Financial Instrument Forecast with Artificial Intelligence
Get PDFIn ancient times, trade was carried out by barter. With the use of money and similar means, the concept of financial instruments emerged. Financial instruments are tools and documents used in the economy. Financial instruments can be foreign exchange rates, securities, crypto currency, index and funds. There are many methods used in financial instrument forecast. These methods include technical analysis methods, basic analysis methods, forecasts carried out using variables and formulas, time-series algorithms and artificial intelligence algorithms. Within the scope of this study, the importance of the use of artificial intelligence algorithms in the financial instrument forecast is studied. Since financial instruments are used as a means of investment and trade by all sections of the society, namely individuals, families, institutions, and states, it is highly important to know about their future. Financial instrument forecast can bring about profitability such as increased income welfare, more economical adjustment of maturities, creation of large finances, minimization of risks, spreading of ownership to the grassroots, and more balanced income distribution. Within the scope of this study, financial instrument forecast is carried out by applying a new methods of Long Short Term Memory (LSTM), Recurrent Neural Network (RNN), Convolutional Neural Network (CNN), Autoregressive Integrated Moving Average (ARIMA) algorithms and Ensemble Classification Boosting Method. Financial instrument forecast is carried out by creating a network compromising LSTM and RNN algorithm, an LSTM layer, and an RNN output layer. With the ensemble classification boosting method, a new method that gives a more successful result compared to the other algorithm forecast results was applied. At the conclusion of the study, alternative algorithm forecast results were competed against each other and the algorithm that gave the most successful forecast was suggested. The success rate of the forecast results was increased by comparing the results with different time intervals and training data sets. Furthermore, a new method was developed using the ensemble classification boosting method, and this method yielded a more successful result than the most successful algorithm result
Effect of Training and Career Development on Bank Employees’ Performance: Evidence from Selected Banks in Nigeria
Get PDFThis study examines the effect of training and career development on banks employees’ performance, using survey research design, through the administration of structured questionnaire on some employees of some selected banks at Ijebu Ode, Ogun State, Nigeria. The findings reveal that, all the variables have positive individual significant effect on employees’ performance. The individual significance career development has the highest effect on Nigerian banks employees’ performance with t-stat = 6.256 *0.000. To further certify this, the multiple linear regression was used to test the combined effect of training and career development on employees’ performance to which only career development has positive and significant effect on employees’ performance (t-stat = 6.359 *0.000), where training has positive but insignificant effect (t-stat = 1.556 * 0.123). The adjusted R2 (0.398) indicated that, 39.8% variation in employees’ performance is accounted for by training and career development. The findings revealed that, an improvement in training and career development tends to enhance banks employees’ performance. It can therefore be concluded that, training and career development are important determinants of banks employees’ performance. Therefore, it is recommended that banks should enhance their training and career development activities towards the enhancement of their employees’ performance
Auditing Techniques to Minimize Accounting Related Fraud and Errors: A Qualitative Analysis with the Interview Method
Get PDFAccounting is more integrated with the technology today compared to the previous years. The increase in a variety of technological developments and commercial transactions has further increased the number and type of errors as well as frauds related to the accounting profession. This causes misleading information for several stakeholders. Stakeholdes sometimes make false decisions based on the financial statements created as a result of false and fraudulent transactions. In order to minimize the errors and frauds concerning the accounting system of enterprises, effective internal controls and auditing systems should be in order. It is evident that, setting up the required internal controls and auditing systems reduce asset losses and provide great benefits in the long run for firms. Existence of strong internal controls and auditing systems in enterprises has gained great importance in Turkey. This study provides information about the audit techniques that can minimize accounting related frauds and errors in businesses. The research includes and employs an interview with auditing professionals as the research methodology. Auditors working within three audit firms were selected by simple random sampling via the LinkedIn social media. The three participants were directed 10 semi- structured and open-ended questions. Qualitative analysis was adopted for this study. According to the results of research, companies use a number of tools to prevent accounting related frauds and errors. These most effective tools to minimize the frauds and errors are detected as internal auditing, internal controls and independent (external) auditing. Auditing professionals have high awareness about accounting related fraud and errors. But, auditor independency should be higher, proactive approach must be utilized and auditors must closely follow the new laws and regulations in addition to being familiar with the firms’s operations and sectors to minimize the fraud and errors. The Benford\u27s law, artificial neural networks, analytical methods, data mining, red flags and analytical methods are commonly used by the auditors against frauds and errors. In general, the internal controls and auditing professions are in a much better situation today in Turkey compared to the previous years. But, this is still not adequate and there is a long way to complete ahead based on the opinions of auditing professionals
Hybrid Entrepreneurship as a Tool for Poverty Reduction in Nigeria: A Review of Literature with Qualitative Research and Content Analysis
Get PDFIn today’s Nigeria, employment in organizations has turned upside down due to poor economic situations which do not allow many companies to pay their employees well. There is a need for individuals to look for ways to increase their incomes for meeting financial obligations. The need for hybrid entrepreneurship is critical as well. This paper conducts a review of literature on hybrid entrepreneurship as a tool for poverty reduction. The research employs qualitative research approach and content analysis. The study concludes that, hybrid entrepreneurship is a determinant practice to reduce the rate of poverty in Nigeria. The paper recommends that, hybrid entrepreneurship should be encouraged among the Nigerian citizens so as to reduce the poverty level that has become a problem of Nigerians. Also, every Nigerian should try to get involved or engage in other businesses to augment their incomes so as to achieve their personal and family goals