What makes organizations so similar? We contend that the engine of rationalization and bureaucratization has moved from the competitive marketplace to the state and the professions. Once a set of organizations emerges as a field, a paradox arises: rational actors make their organizations increasingly similar as they try to change them. We describe three isomorphic processes-coercive, mimetic, and normative—leading to this outcome. We then specify hypotheses about the impact of resource centralization and dependency, goal ambiguity and technical uncertainty, and professionalization and structuration on isomorphic change. Finally, we suggest implications for theories of organizations and social change.

The iron cage revisited: Institutional isomorphism and collective rationality in organizational fields (Chinese Translation)

Background: Fraud risk assessment as a control mechanism is becoming necessary due to continuous and never-ending fraudulent activities. Frauds arise regardless of the existence of codes for corporate governance and available control activities such as those of internal and external audit units. It is high time for the corporate governance functions such as Audit and Risk Committees and Senior Management to identify the controls, which can assist in achieving good corporate governance and at the same time provide satisfaction to the shareholders.

Impact of Fraud Risk Assessment on Good Corporate Governance: Case of Public Listed Companies in Oman

Organizational fraud is transpiring despite the availability of controls, regulatory directives, and governance guidelines. These controls, directives, and guidelines are only utilized as a compliance checkbox instead of being utilized to identify the control deficiencies and also to identify the maturity of corporate governance. Forensic accounting detective role is an activity which can be available within an organization that can be impacted and reformed by the mature corporate governance which can eventually assist organizations in the reduction of fraud and its related activities. Three major constituents of mature corporate governance are the board of directors, audit and risk committee, and senior management or executive management. All three significant constituents are vital to the achievement of organizational objectives and providing satisfaction to shareholders. With the utilization of agency theory, this paper intends to identify the relationship between mature corporate governance and detective role of forensic accounting within public listed companies situated in Sultanate of Oman. The descriptive cross-sectional survey has been conducted with the utilization of quantitative method, and data has been analyzed by utilization of PLS-SEM. Result suggests that mature corporate governance has a significant direct impact on forensic accounting’s detective role. In order to mitigate or eliminate fraud within organizations, it is highly recommended that organizations should have in-house forensic accounting detective role which can be strengthened with the mature corporate governance.

/pdf/impact-of-mature-corporate-governance-on-detective-role-of-47czf1oa9b.pdf

Impact of Mature Corporate Governance on Detective Role of Forensic Accounting: Case of Public Listed Companies in Oman

In the current business environment, an organisation cannot exist without availability of corporate governance. Corporate governance is a system that should be available within an organisation and should be defined and regulated internally. Moreover, it is widely known fact that organisations that demonstrate poor corporate governance end up in making losses. However, good corporate governance also cannot assure the success of organisations. These unsuccessful organisations, although demonstrating good corporate governance, may end up in losses due to fraudulent activities. Robust and stable corporate governance system is required to ensure that organisations will achieve their objectives and expectations of shareholders are met. It is a common expectation of shareholders that the board of directors and organisational management will adopt and implement proper governance practices. However, in order to measure the adoption and implementation; assessment of corporate governance maturity is required. Furthermore, good corporate governance can be considered as broad and inconclusive term unless it is measured to the level of its maturity. Therefore, it can be asserted that the maturity of the corporate governance processes within the organisations needs to be identified and evaluated, which eventually enables assessment of the good corporate governance. The objective of this paper is to develop a corporate governance maturity framework which can be utilized as a measurement tool. The initial corporate governance maturity framework developed is founded on the available and associated literature. Adoption of the framework developed in this paper may enable organisations to measure its governance maturity and also enable them to identify potential gaps between the current strategic objectives and targets. Moreover, this framework may assist organisations in forming their strategies and aligning their performance with organisational goals.

Corporate governance maturity and its related measurement framework

The aim of the underlying study to this paper is to evaluate the audit committees in the government ministries in Namibia; by assessing their composition, the function and regulations that govern committees. The study used a qualitative approach of inquiry. A purposive sampling method was used as the researcher selected ministries with audit committees. Thematic and content analysis was used in this study. Both primary and secondary and data were used. On primary data, interviews were conducted and recorded with a voice recorder. Secondary data was during the review of existing literature on the subject. The study found that from the 4 government ministries with audit committees, only one ministry consisted of independent members as well as an independent chairperson, while 3 ministries are chaired by members within their organisations. There was clear evidence of lack of accounting / financial /auditing competence among the committee members. This trend is contrary to the best practice which requires that the chairperson of the audit committees be independent of the ministry as well as the members of the audit committee. The finding indicates possibility of lack of capacity to carry out the functions of audit committees; weak internal control systems; chances of conflict of interest and complacency due to the lack of independence. There is avenue for further research as more ministries in Namibia are now establishing their audit committees, especially as the Namibian Code of Corporate Governance (the NamCode) gains more popularity among the public sector.

https://virtusinterpress.org/IMG/pdf/10-22495_jgr_v4_i4_c1_p2.pdf

Evaluation of the audit committees of government ministries in namibia: their compositions, functions and regulations

Audit Committees (ACs) have become more important and prevalent since the initial corporate governance reforms of the mid-2000s. In their expanded roles, ACs have become a key player in their entity’s suite of corporate governance mechanisms wh

Role effectiveness of audit committees' governance characteristics: impacts on internal and external auditing of listed companies

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Role effectiveness of audit committees' governance characteristics: impacts on internal and external auditing of listed companies