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银行内部控制外文文献翻译
外文文献翻译原文+译文
文献出处:
JamesC.TheStudyonbankInternalControl[J].JournalofBanking&Finance,2017,2
(2):
377-386.
原文
TheStudyonbankInternalControl
JamesC
1.Introduction
Aneffectiveinternalcontrolsystemisthenervecentreofeveryorganization,thebreakdownofwhichleadstothefailureoforganizations.Internalcontrolisacrucialaspectofanorganizationsgovernancesystemandabilitytomanagerisk.Itensurestheachievementoforganizationsobjectivesandcreating,enhancing,andprotectingstakeholdervalue(IFAC,2012).PrecipitatingthecurrentglobalfinancialcrisesisthehighprofilecorporatefailuressuchasEnronandWorldComintheUSA,ParmalatinEurope,andsimilarcasesofcorporatecollapsearoundtheworld(Amudo&Inanga,2009).Failureofinternalcontrolsystemsandtheeventualcircumventionofinternalcontrolsbycompanyexecutivesaccountedforthesecorporatescandals.Organisationsmustensurethattheirinternalcontrolsystemsremainrelevantintodaysbusinessmodel.
2.Theoryandrelatedliterature
Definitionofinternalcontrolsystem
COSOin1992,definedinternalcontrolsasaprocess,andrightlysobecauseaninternalcontrolsystemisnotanendinitselfbutameanstoanend.Internalcontrolisdefinedasa“process,effectedbyanentity'sboardofdirectors,managementandotherpersonnel,designedtoprovidereasonableassuranceregardingtheachievementofobjectivesinthefollowingcategories:
Effectivenessandefficiencyofoperations,Reliabilityoffinancialreporting,Compliancewithapplicablelawsandregulations”(COSO,InternalControl-IntegratedFramework,1992).AgaintheBaselcommitteeonbankingsupervisiondefinedinternalcontrols“asaprocesseffectedbyboardofdirectors,seniormanagementandalllevelsofpersonnel.Itisnotsolelyaprocedureorpolicythatisperformedatacertainpointintime,butratheritiscontinuallyoperatingatalllevelswithinthebank”(Basel,1998).
Internalcontrolsystemseffectiveness
Theeffectivenessofaninternalcontrolsystemisdependentonhowfluidthesysteminteractwithitselfandhowembeddeditisintotheorganizationsbusinessprocesses.Againforaninternalcontrolsystemtobeeffectiveandprovidethatneededassurancetotheboard,thereshouldbesome“agentsofeffectiveness”.Theseareavibrantboard,whichdoesnotwaittobeinformedbutaboardthatunderstandsthebusinessandquestionsthestatusquo,andaneffective,independentinternalauditunit.Internalcontrolisaprocess,butitseffectivenessisastateoraconditionatpointoftheprocess.Thereforeitisimportantformanagementandtheboardtoevaluateandassesstheeffectivenessoftheinternalcontrolsystemperiodically.
AccordingtoCOSO,aninternalcontrolsystemcanbejudgedtoeffectiveonthehighleveliftheboardofdirectorsandmanagementhavereasonableassurancethat:
1.theyunderstandtheextenttowhichtheentitysoperationsobjectivesarebeingachieved,2.publishedfinancialstatementsarebeingpreparedreliably,and3.applicablelawsandregulationsarebeingcompliedwith(COSO,InternalControl-IntegratedFramework,1992).Aninternalcontrolframeworkthatplacestoomuchemphasisondetailedexplanationofthedifferentcomponentsofthesystemandmethodsfortheirdesignbutignoredetailsonhoweachofthecomponentscanbemeasuredtoassesstheireffectivenessisadeficientcontrolsysteminitself(Amudo&Inanga,2009).
Theeffectivenessofaninternalcontrolsystemisafunctionoftheworkingsofthefivecomponentsofthesystem.Consequently,assessingeffectivenessofinternalcontrolsmustbedoneinrelationtothecomponentsofinternalcontrol.Judgingwhetheraninternalcontrolsystemofanorganizationiseffectiveornotisasubjectiveverdictresultingfromtheassessmentoftheworkingsofthefivecomponentsofinternalcontrolsystemacrosstheentireorganization(COSO,InternalControl-IntegratedFramework,2011).
Inassessinginternalcontroleffectiveness,theevaluatormustunderstandtheoperationsofthefivecomponents,theintentoftheprinciplesandassumptionsunderlyingtheoperationsofthecontrolcomponentsandhowtheyareappliedacrosstheorganization.TheresearchersinassessingtheeffectivenessoftheinternalcontrolsystemofGhanaianbanks,adoptsCOSOs1992principlesandassumptionsofassessingtheeffectivenessofinternalcontrolsystems.
3.Methodology
Dataforthestudywasgatheredfromquestionnairesadministeredtomanagers(includingauditmanagers)ofallbanksinGhana.Atotalof56questionnairesweresentoutand30werereceivedrepresentingresponserateofabout54percent.Thequestionnairewasdividedintotwomainsectionsrepresentingthetwocontrolcomponents(controlenvironmentandmonitoring)oftheCOSOmodelchosenforthestudy.Thestudytargetedmanagersbecause,thequestionsrequiredagoodunderstandingoftheinternalcontrolsystemofbanks.Responsesreceivedfromrespondentswerebasedonafive(5)pointlikertscale,rangingfromstronglydisagreetostronglyagree,where1representedstronglydisagree(SD)and5representedstronglyagree(SA).Thelikertscalewasusedtomeasurerespondentsknowledgeandperceptionofinternalcontrolsandthebanksinternalcontrolsystemeffectiveness.Alikertscalewasusedbecauseitiseasytoreadandcompletebyparticipants.StatisticalPackageforSocialSciences(SPSS)wasusedtoanalysedataandpresentedintheformofmeansandstandarddeviationsforeachquestionandeachcategoryorsectionofthequestionnaire.Cronbachsalphawasalsocomputedtotestinternalconsistencyforeachsectionofthequestionnaire.TheCronbanchsalphaforcontrolenvironmentandmonitoringareasfollows;0.823and0.720respectively.ACronbachsalphaof0.7isgenerallyaccepted,howeverotherresearchersconsidera0.6andabovereliabilityadequateenough(Field,2000).
Therationaleforthechoiceofthetwocontrolcomponentsisbasically;tomanagethescopeoftheresearchandagainwebelievethatgaininganunderstandingofthecontrolenvironmentcomponentandthemonitoringactivitiescomponentoftheinternalcontrolsystemwillgiveanindicationofthegeneraleffectivenessofthewholesystem.
4.Resultsanddiscussions
ThestudysoughttoassesstheeffectivenessofthecontrolenvironmentinGhanaianbanksasshowninTable1.Theresultsshowedthatthestatementthattopmanagementssupportforintegrityandethicalvaluesandcodifiedstandardsofconducttoguidebehaviour,activitiesanddecisionsbothhadthehighestmean(M=4.83).Thiswasfollowedbyorganisationsholdindividualsaccountablefortheirinternalcontrolresponsibilitiesinthepursuitofobjectives(M=4.76;SD=0.64);whichreportedthesecondhighestscore.Itwasfurtherevidentthatthestatementsthatmanagementestablisheswith,boardoversight,structures,reportinglinesandappropriateauthoritiesandresponsibilitiesinthepursuitofobjectivesandhumanresourcefunctionhashelpedtodefinecompetenceandstaffinglevelsbyjobroles,facilitatingtraininganddevelopmentbothhadsamemeanscoreof4.69(SD=0.60).Itmustbeemphasisedthatalltheitemsreportedunderthecontrolenvironmenthadmeanscoresmorethan3.50.Thismeansthatthemajorityoftherespondentswereoftheviewthatthecontrolenvironmentcomponentoftheinternalcontrolsystemsiseffective.Theoverallcontrolenvironmentscorewas4.66(SD=0.62).Overall,theresultsindicatedthatthemajorityoftherespondentsagreedthatthecontrolenvironmentcomponentofbanksiseffectiveintheGhanaianbankingindustry.Theeffectivenessofthecontrolenvironmentswasevidentinthetopmanagementssupportforintegrityandethicalvalues;theestablishmentofcodifiedstandardsofconducttoguidebehaviour,activitiesanddecisions;holdingindividualsaccountablefortheirinternalcontrolresponsibilitiesinthepursuitofobjectives.Theattitudeoftheboardandseniormanagementdeterminesthelevelofinternalcontroleffectivenessinanorganisaton.Iftopmanagementbelievesthatcontrolisimportant,othersintheorganisationwillsensethatandrespondbyobservingtheestablishedcontrols.Similarly,establishingsupportfortheintegrityandethicalvaluesareessentialelementsofthecontrolenvironmentastheyaffectthedesign,administrationandmonitoringofotherinternalcontrolcomponents(Arens&Loebbecke,1997).Theresultsdemonstratedthatmanagementofthebankshaveshownstrongcommitmentinpromotinginternalcontrolenvironmentsthatisstrongenoughtoreceivethesupportoftopmanagement,establishstandardsandresponsibilities,aswellasholdpeopleaccountablefortheirsuccessesandfailures.Thecornerstoneofastrongandeffectiveinternalcontrolstructureisthecontrolenvironment.Hence,theexistingeffectivenessofthecontrolenvironmentsuggeststhattheinternalcontrolsystemisveryeffectiveinestablishingstronginternalcontrolstructuresnecessaryforpreventingmaterialfraudsinthebanks(Apostolou&Jeffords,1990).ThisresultisconsistentwithaninterindustrycomparativestudyofinternalcontrolsconductedintheUSAin2012,wherebankingeffectivenessforcontrolenvironmentwasratedhighwithmeanofover5.0onasevenpointlikertscale(Hermanson,Smith,&Stephens,2012).
TheevaluationoftheeffectivenessofmonitoringactivitiesascomponentoftheinternalcontrolsystemsofthebanksinpreventingmaterialfraudarepresentedinTable2.Theresultsshowedthatthemeanscoresforalltheitemsweremorethan4.00andrangesfrom4.52(SD=0.63)to4.90(SD=0.31).Theexistenceofindependentinternalaudit