The main purpose of the study was to establish the role of corporate governance in financialmanagement. An explanatory research design was adopted in the in-depth study on the corporate governance applied by 50 NGOs in Kenya. Primary data was obtained by administering questionnaires. Data was analyzed using both quantitative. From the regression results corporate governance efficiency/effectiveness, Responsibility, Transparency, Integrity and Accountability had significant and positive effect on financialmanagement of MFI. Thus, leading to efficient, effective and sustainable entities that have contributed to the welfare of society by creating wealth, employment and solutions to emerging challenges; creating positive image among the stakeholders both locally and internationally; and promoting transparency and accountability recognized by the stakeholders are among the major importance of corporate governance. The study recommends that there is need for the Non-Governmental Organizations through relevant agencies to train shareholders and establish a shareholders association to heighten their involvement and that there is need for the management to ensure that there are sound communications channels in order to facilitate easy adoption of corporate governance.
The feminist view on the stakeholder aspect will also lead to a broader view of risk management as a component of the stakeholder corporate governance model. Francis and Armstrong (2003) stressed the relationship between good ethical practices and risk management in that an essential risk management strategy is a commitment to ethics in an organisation or company. As the ethics of care is applied in this thesis, it is argued that the risk aversion approach is better to prevent a company from huge losses in investment and other activities. This approach can be traced to women’s attitudes to risk, with several researchers claiming that females are more risk averse than males (see for example Powell and Ansic 1997; Smith 1999). From the feminist ethics of care perspective, the risk aversion approach is also aimed at protecting the stakeholders from any harm resulting from corporate collapses. According to Clarke (2010), the failure to adopt a risk aversion approach has led to recurring crises. For instance, the spectacular risks with extremely leveraged positions on many securities and derivatives that have been taken by investment banks and other financial institutions have led to the systemic crises in international financial markets commencing in 2007.
Licensed under Creative Common Page 390 While the research conducted by the Putra and Putri(2017) showed that Transparency, Responsibility and fairness did not influence the employee's performance and accountability. Differences in these results become the basis of researchers to re-examine the implementation Effect of principle of good corporate governance toward the performance of employees on Regional Water Company. This study is also motivated by research conducted by Andani and Ridwan (2015) who suggested using wider population. Research conducted by Andani and Ridwan used the dependent variable of employee’s performance while this study uses the dependent variable performance of financial department employee.
In recent years, the world has faced significant failures of many giant firms and with major scandals The Banking sector was also a victim of such shortcomings. In the current time, the financial crisis in the banking sector is a common issue around the world (Ataur & Jahurul 2018). However, investigation of the root cause of these failures hat among other factors, these scandals are primarily attributed to inadequate corporate governance practices as Ataur and Jahurul (2018) affirm. Accordingly, issues relating to Corporate governance have received heightened attention in empirical studies and scholarly works. This paper examined the impact of corporate governance (CG) of commercial banks in Uganda from the case of DFCU Bank LTD. The main objectives were: 1.To establish the effect of corporate transparency on . 2. To examine the effect of commitment to corporate governance on the performance of DFCU bank LTD. Since the study was dealing with perceptions, ended questionnaire for the aspects of corporate governance ed in this study and items relating to bank performance. From the regression and correlation, analysis, there is a positive relationship between transparency in financialmanagement and Overall performance of DFCU.This implies that employees whose perceptions of Transparency in financialmanagement were positive were also likely to report higher levels of bank performance. There is also a positive relationship between Commitment to Corporate Governance and Overall performance of k performance is high where Corporate Governance are discussed in the Annual report, CG policy or manual is readily available to the staff, core values of the bank are
Many public sector studies aim to improve the system of governance and realizing good governance. New innovations were also created to make good governance such as e-village budgeting that was successfully introduced and developed by the Banyuwangi Regency Government. However, the efforts of the Banyuwangi Regency Government to realize good government still have a lack because of findings abuse of authority in the village government, such as corruption of village funds by the head of KalibaruWetan village and Tegalarum village (timesindonesia.co.id, 2017; Radar Banyuwangi, 2018). In article published by timeindonesia.co.id in 2017, several villages indicated to manipulate village fund accountability report for disbursing the next village fund, eventhough there are still unresolved development activities from village funds. Therefore, Ministry of Rural Development and Transmigration Regions urged the village government to put up a banner that containing the planning and realization of the use of village funds written in the APBDesa. (radarjogja.co.id, 2017). Installation of banners about APBDes is an effort to realize transparency in use of the budget by village government to village community. While, banner about orderly administration shows that village government will carry out village government that is clean and no corruption. The village community still has a lot of difficulties of information about APBDes is notified through in village website, so installation of banners is a good way for village community to get information about APBDes and village government goals (Sulisyanti, 2016).
Regarding financialgovernance and management and performance, existing literature (Child and Rodrigues, 2004; Hailey, 2003; Rhodes, 2000) shows that governance is critical to NGO performance. Its failure leads to organisational indiscipline which often translates into fraud and corruption and eventual loss of trust. Corruption in particular diverts resources from the poor to the rich, escalates business costs, distorts expenditure patterns, dissuades funders and erodes trust; situations which negate what NGOs stand for (World Bank, 1996a). Indeed, some researchers detect a rise in NGO fraud, corruption and mismanagement (Gibelman and Gelman, 2001, 200424; Wise, 1995). As Hailey (2003b) and Low (2006) contend, the buck ought to stop with the NGO board. Literature review also showed some linkages between different aspects of financialgovernance with NGO performance (Bradshaw et al., 1992; Callen, 2003; Carver, 2006; Smith and Shen, 1996). They include effective boards use more recommended board and other correct practices (Herman and Renz, 1997); include major donor representatives (Callen, 2003); are more involved in policy formulation, strategic planning, programme review, board development, resource development as well as in financial planning and control and resolution of disputes (Green and Griesinger, 1996); have a standard slate of officials; are active and set up and work through subcommittees (Smith and Shen, 1996); and have a positive and systematic association with measures of financial performance (Chait et al., 1991). In addition, Gariyo (1997) showed that different board typologies (family, invisible, staff and professional) exist in the South while Carver (2006) showed that even well constituted boards could be undermined by behaviour of members. Novib/BC principles of financialmanagement (Novib, 2002) focussing on accountability, transparency, integrity, custodianship, documentation, consistency, disclosure and non-deficit financing was found useful in NGO assessment. This showed that NNGOs measure performance of SNGOs they fund and performance of SNGOs is somehow related to their regulatory environment, their board level financialgovernance and management, their accountability and the behaviour of their funders.
As Shariah is a DNA of an IFI, Shariah is also the foundation of risk management of an IFI. Unlike conventional financial institution, an IFI in managing their risks, should consider compliance from wider aspect, i.e. compliance to Islamic laws and regulations as well as adherence to Islamic moral and ethics. In this paper, the author discusses the application of the three lines of defense in an IFI and the roles and responsibilities of each line of defence towards Shariah compliance. The author divides the paper into four sections, first section to discuss the concept of knowledge in Islam and Islamic culture as pillars of the three lines of defense in an IFI. In the second section, the author is elaborating the concept of self-assessment and monitoring in Islam. Third section is about the three lines of defense model as published by Institute of Internal Audit. In the final section, the author proposes a ‘three lines of defense’ model for an IFI.
15 Community Rehabilitation Component 1 : In spite of successes, good visibility and high commitment for the programme at community and local Government level, a lot of frustration arose from limited implementation progress. This is due to both external reasons (difficulties to raise a guarantee for direct labour operations, failed tenders) and limited capacity at the EC Delegation to ensure a swift accompaniment (reviewing, approvals, payments). Consequently the implementation period of the programme (programme estimate and TA services) was extended a second time, now to the end of H1 2008. The programme operating in Bong, Lofa and Nimba counties has been a pioneer in developing and implementing a methodology involving local administration in the project cycle. This approach made the programme very visible and appreciated by Government. It is regarded a best practise for enhancing support to decentralisation, Government appropriation and empowerment and could be replicated in other local development projects (including the future County Development Programme, 9.ACP.LBR.020). It also developed effective operational complementarities with the starting process of county-level planning and human resources / institutional capacity building supported by other donors (UN in particular with the activities of the County Support Team and National Information Management Centre, which approach will be developed and extended under the jointly financed UN-EC Liberia Decentralisation and Local Development Programme through 9.ACP.LBR.020). Other results include: 1) 28 small grants (< EUR 10,000) to communities and another 21 aimed to be implemented until the end of the programme); 2) three completed and inaugurated larger scale infrastructure rehabilitation components (feeder roads and bridges), 3) 8-14 medium seize grants with NGOs for local development projects with a strong component of CBOs/local administration capacity building prepared and to be launched in the beginning of 2008; 4) initial local capacity building for roads maintenance, to be completed in 2008. In its final period of implementation (Q1/Q2 2008) the Community Rehabilitation Component will focus on completing project execution, on consolidating institutional support and other pilot results (development of local roads maintenance capacity) and on dovetailing its experience into the 9.ACP.LBR.020 programme.
However, pay needs to be proportionate, and I am clear that pay rises for non-teaching management should not exceed those awarded to teaching staff. And when considering what’s fair, trusts and boards should not just compare pay rises over a single year, but look and compare over a number of years, at a time when public finances have been really stretched.
1 INTRODUCTION Reports from the Association of Certified Fraud Examiners (ACFE) in 2017 estimated that 5% of the Gross World Product (GWP) of USD 79.6 trillion had experienced fraud (ACFE, 2014). While the results of the Indonesian fraud survey (SFI) show that corruption (31%), misuse of state or company assets (67%) and fraudulent financial statements (2%) (ACFE, 2016). The results of the SFI survey show that management behavior to commit corporate fraud is still high. The potential for corporate fraud in Indonesia is due to many factors such as low salary or bonus managers, political interests, and moral hazard. Bad behavior like this is detrimental to the company and its stakeholders (Harris & Bromiley, 2007). The impact of corporate fraud is not only detrimental to investors, customers, creditors, employees but damages the integrity of the capital market, social economy and economic growth. Corporate fraud will result in high operational costs of the company, and reduce profitability. Ethical point of view, corporate fraud as a result of individual failure to accept responsibility for managing the company and top management has neglected to run it (Staubus, 2005). The motivation of management to commit corporate fraud includes (Johnson, Ryan, & Tian, 2009), (Conyon & He, 2016) (Chen, Firth, Gao, & Rui, 2006a) incentive management and weak corporate governance. Management bonus is the right tool to reduce agency problems. Information asymmetry (Jensen & Meckling, 1976) causes agency problems. Management that behaves opportunistically conducts activities that can benefit themselves without considering the interests of the owner.
programme at HSELanD has been drawn up for Nursing staff to complete. The pharmacist has agreed to complete further training for Medicines in care homes for Nursing staff. Nursing staff have been requested to refresh themselves with Guidance to Nurses and Midwives on Medication Management, July 2007, NMBI, which is included with the Medication Management Policy. The Nurse awaiting registration from NMBI has been excluded from administrating medication until she has her registration. We will continue to work with the NMBI to receive her PIN number. This nurse has been awaiting her registration since commencement of her employment in August 2015.She will continue to be supervised according to our Pre-Registration Nurse policy but will be excluded from administration of medications.
As already observed,. the Fund’s insistence on severely tightening the monetary policy by raising the interest rates turned out to be incorrect and counterproductive. Its arguments for remaking many institutions in Asia did not make evolutionary sense although all would agree that ending corruption, curtailing special business privileges, and imposing the practice of good governance, including good corporate governance were good overall goals. 25 But quite apart from the wellknown fact that this falls outside the Fund’s mandate, such adjustments at the time could result in further instability. In the words of Morris Goldstein, an ex-IMF staff member: “………both the scope and the depth of the Fund’s conditions were excessive…..They clearly strayed outside their area of expertise……If a nation is so plagued with problems that it needs to make 140 changes before it can borrow, then maybe the fund should not lend.” 26 . Although not a conscious advocate of the evolutionary theory advanced here, Goldstein’s long experience and solid sense of institutional matters led him to the right conclusions in this matter.
At current stage, some universities which give priority to informationization have achieved certain results by separated management and service, and enhances the experience of teachers and students in using information services. High-quality information services need to be based on high-quality data. However, at present, the data quality of business systems is uneven and the data between systems is not fully shared and interoperable, resulting in serious construction of information services for teachers and students. Restrictions also cause teachers and students to repeatedly fill out similar forms in different systems. Based on the development situation and
Management had systems in place to capture statistical information in order to compile an annual review of the quality and safety of care delivered to residents. For example audits were carried out and analysed in relation to accidents, complaints, medication management and skin care. Aspects were then highlighted for further improvement, such as training for staff in promoting good quality end of life care. A copy of the annual review was given to the inspectors and there was evidence that residents’ and relatives’ views were considered.
There were policies and procedures relating to health and safety including incident management and food safety. There was also an up-to-date safety statement. The person in charge completed an annual health and safety audit and actions were developed where required. A monthly hazard identifying check was also completed by the team lead and actions were also developed. Evidence was available on the day of inspection to confirm actions had been implemented for example; maintenance issues had been attended to. An annual check of all electrical equipment in the centre had also been completed. Policies and procedures relating to incidents where a resident goes missing had recently been developed and were due to be signed off in the near future.
Overall the inspector found that there was not a sufficient number or skill mix of staff within this designated centre. Some residents informed the inspector that staff treated them well but were not always available to them. While provision was available for mandatory training, the records reviewed suggested that all staff were not up-to-date with all necessary training. For example, training and refresher training in epilepsy, safeguarding, personal planning, communication, fire safety, risk management and diabetes.
There was a training programme in place for 2014, but this had not been informed by a formal needs analysis of training requirements. The inspector also examined the training schedule for the centre and found that in the six months prior to this inspection, the staff had attended a range of core and relevant training such as induction training, first aid, child protection, manual handing, midazolam administration, epilepsy awareness, safe handling of medicines, infection prevention and control, food safety, fire safety and sign language. Some staff had also attended a briefing on National Standards. Training planned in the schedule included core training for new starters, safe care, and two types of behaviour management training. Training certificates and records were held on all staff files.
During the previous inspection, inspectors saw that some fire doors were being wedged open or locks disengaged, which presented a risk to the safety of residents. During this inspection, inspectors found that incidents where these practices occurred had been reduced, but not eliminated. A kitchenette door was held open with a wooden wedge, a relatives’ rooms was held open with a bin and a sluice room combination lock had been disengaged. There was still unrestricted access to the kitchen, staff tea room and nurses’ office on one unit but plans were in progress to fit keypad locks to these doors. A risk management, quality and safety committee met quarterly to discuss corporate, departmental, clinical and organisational risks. Agenda items included incident/accident quarterly trends, HIQA notifications, safeguarding incident reports and quality initiates. Inspectors saw that a recently discussed agenda item had been actioned. Guidance posters, devised in conjunction with the dietician, were displayed throughout the centre, advising caution to visitors bringing sweet treats for residents on special diets.
As part of this inspection, inspectors requested that the fire alarm system was activated. During the activation inspectors observed that a number of fire doors did not close adequately and this posed a risk to children and staff as the protection offered by these doors could not be relied upon. Following the risks identified, an immediate action plan was issued to the provider in respect of the fire door closures. The provider addressed the deficit within the required timeframe and subsequently submitted a certificate of compliance form a properly and suitably qualified person with experience in fire safety design and management that all statutory requirements in relation to fire safety were being complied with. An inspector conducted a follow up visit on 30 July 2014 and once again activated the fire alarm system and found that the fire doors closed adequately.