Impact of Corporate Governance in the Application of the Financial Standard for Sustainability Accounting FNO 101
DOI:
https://doi.org/10.31272/jae.i142.1043Keywords:
Corporate governance, the financial standard for sustainability accounting FNO 101 .Abstract
The study aims to investigate the impact of corporate governance in the application of the financial standard for sustainability accounting FNO 101 . To achieve this aim , the study follows the descriptive analytical approach using the statistical package for social sciences (SPSS) in analyzing data and testing hypotheses . A questionnaire was determined and distributed for 30 practitioners of which 28 were valid for analysis . The most important conclusions were that governance mechanisms contribute to improving financial performance , which improves the quality of financial reporting to enhance confidence in financial statements through the application of governance indicators according to (GRI) standards . In addition, the application of the financial standard for sustainability accounting FNO 101 contributes to improving the financial performance of commercial banks listed on the Iraq Stock Exchange . One of the most important recommendations was the need for the economic entity to adhere to the application of governance rules and the application of the financial standard for sustainability accounting FNO 101 and to deepen and develop concepts , by holding specialized training courses for their employees , and to increase the level of disclosure and transparency in financial reports , and to make them available to all stakeholders to give shareholders and investors security for their money invested in this entity work to disseminate the concept and culture of governance and the financial standard for sustainability accounting FNO 101 in a wider way to all relevant parties, and to issue bulletins and instructions that reflect their concepts and applications .
References
Abdul-Jabbar, Mona Haider (2012) “The Role of Governance in Building Effective Organizations, An Analytical Exploratory Study in the Ministry of Higher Education and Scientific Research in Iraq,” PhD thesis, Department of Business Administration, College of Administration and Economics, University of Baghdad.
Al-Amin, Waleed Mohamed Mahmoud, (2018) The role of sustainability accounting reports in achieving performance transparency and reducing the risks of investment decisions: a field study on a sample of Sudanese banks and the Export Development Bank, PhD thesis.
Al-Fatlawi, Laila Naji Majeed, (2011) “The Impact of the Application and Corporate Governance on Reducing Profits Management Practices by Application to a Sample of Joint Stock Companies Listed in the Amman and Iraq Stock Exchanges,” PhD dissertation in Accounting, College of Business and Economics, University of Baghdad.
Al-Hijami, Sabreen Karim Blasim (2020) “A proposed model for auditing the dimensions of sustainability and its role in evaluating the performance of an economic entity in Iraq,” PhD thesis, Al-Shouldansiriya University, College of Administration and Economics, Department of Accounting.
Al-Ibrahimi, Hassan Abdel-Karim (2018) Employing Sustainability Accounting Standards “FNO 101 Standard Commercial Banks to Improve Disclosure and Transparency and Enhance the Trust of Investors”, Applied Research in Commercial Banks Listed in the Iraq Stock Exchange, Master Thesis, University of Karbala.
Al-Jabali, Walid Samir Abdel-Azim (2017) The impact of using financial standards for sustainability accounting on improving accounting disclosure and enhancing investor confidence - an applied study on commercial banks, Arab Economic Research Journal, V.7 ( 2).
Aljajawi a. Dr.. Talal Muhammad Ali, & Al-Zarfi, Muhammad Muhaisen Abdul-Ridha. (2018). A proposed framework for the governance of municipal institutions to reduce fraud. Journal of accounting and financial studies.V. 13(42).
Al-Jajjawi, Talal Muhammad Ali and Muhammad Al Fathallah, (2017) Transparency in the Disclosure of Accounting Information, Dar Al-Ayyam. For publication and distribution, 1st edition, Amman, Jordan.
Al-Khazraji, Reem Saadi Hassan, Haider Kazem Narallah Al-Tamimi, Muhammad Hashem Hammoud Al-Jubouri, (2020) The impact of sustainability accounting standards on social auditing and their reflection on the foundations of social responsibility accounting, the special issue of the scientific conference of the Department of Accounting Sciences, Journal of the University College of Economics of Baghdad.
Al-Mamouri, Muhammad Abd al-Rasul Jaber (2020) “The impact of governance applications and sustainability accounting standards and their role in improving performance and financial reporting to enhance confidence in financial statements,” master’s study, University of Karbala.
Atta, Faisal (2021) Disclosure of accounting information as a mechanism to activate corporate governance, Journal of Financial, Accounting and Fiscal Studies, V.1, (1).
Awja, Hassanein Kazem (2021) Ownership structure and the appropriateness of the value of accounting information and their impact on enhancing continuity by application to a sample of companies listed in the Iraq Stock Exchange, Ph.D. thesis in accounting, College of Management and Economics, University of Baghdad.
Dubravka Krivacic, Sandra Janković, (2017), “Managerial Attitudes on Environmental Reporting: Evidence from Croatia,” Journal of Environmental Accounting and Management. V. 4, (1).
Farid, Hanan Haroun, (2016), The Impact of Accounting Disclosure of Non-Financial Information for Social Responsibility and Sustainability on the Prediction Accuracy of Financial Analysts, Pioneer Journal of Business Economics, V 2(3).
Fattoush, Amal (2015)"The Role of Corporate Governance Mechanisms in Addressing Administrative Corruption" Mohamed Kheidar University_Biskra_People's Republic of Algeria.
Ibrahim, Afaq Thanoun (2016), an accounting model for voluntary disclosure of sustainability reports in Tarsheed The investment decision - an applied study in a group of Iraqi companies listed in the Iraq Stock Exchange Finance," Master's thesis - unpublished, Faculty of Commerce - Mansoura University.
Manju Jayakumar, Rudra P. Pradhan, Saurav Dash, Rana P. Maradana, Kunal Gaurav, (2017), “Banking Competition, Banking Stability, and Economic Growth: Are Feedback Effects at Work?” Journal of Economics and Business, Elsevier.
Mohamed, Magdy Shukry Fawzi, (2017) The Role of Sustainable Accounting in Improving the Informational Content of Financial Reports, Ain Al-Shams University, Faculty of Commerce, Department of Accounting, Master Thesis, Egypt.
Nisman, Ibrahim Ishaq. (2009). The role of internal audit departments in activating the principles of governance: an applied study on the banking sector operating in Palestine, master's thesis, Islamic University, Gaza, Palestine.
Ong, Tricia & Djajadikerta, Hadrian G. (2017) Impact of Corporate Governance on Sustainability Reporting: Empirical Study in the Australian Resources Industry, School of Business and Law, Edith Cowan University, Australia.
Rizka ,Fitriasari.(2023) The Impact of Sustainability Corporate Governance on Corporate Environmental Disclosure , International Journal of Accounting & Finance in Asia Pacific (IJAFAP), V. 6( 1)
Samir, Ahmed Ziyad (2020) The Impact of Corporate Governance in Supporting the Disclosure of Sustainability Information and Its Reflection in Financial Performance - An Experimental Study in the Iraqi Environment Using Data Envelope Analysis (DEA) Master's Thesis at the University of Tikrit.
SASB (2017) Conceptual Framework, Sustainability Accounting Standards Board ,1045 Sansome Street, Suite 450 San Francisco CA 94111(415) 830-9220 sasb.org
Stefan Schaltegger, Florian Lüdeke-Freund, Erik G. Hansen, (2016), “Business Cases for Sustainability The Role of Business Model Innovation for Corporate Sustainability”, International Journal of Innovation and Sustainable Development, V 6(2)
Thomas, Weiss, (2017) “Governance good governance and global governance: conceptual and actual challenges,” Third World Quarterly, V.21,(5).
