68中英文雙語財(cái)務(wù)管理會(huì)計(jì)專業(yè)畢業(yè)設(shè)計(jì)外文文獻(xiàn)翻譯成品金融財(cái)務(wù)欺詐風(fēng)險(xiǎn)管理和公司治理

1、<p>　　此文檔是畢業(yè)設(shè)計(jì)外文翻譯成品（ 含英文原文+中文翻譯），無需調(diào)整復(fù)雜的格式！下載之</p><p>　　后直接可用，方便快捷！在淘寶上翻譯一篇外文文獻(xiàn)，至少上百元，本文價(jià)格不貴,也就幾十塊錢，一輩子也就一次的事！</p><p>　　外文標(biāo)題：Financial fraud risk management and corporate governance</p&

2、gt;<p>　　外文作者：Raymond Lutui,Tau'aho 'Ahokovi</p><p><b>　　文獻(xiàn)出處:</b></p><p>　　英文3625單詞，22098字符，中文5782漢字。</p><p>　　Financial fraud risk management and corpor

3、ate governance</p><p><b>　　Abstract</b></p><p>　　Risk management is important so that risk is assessed, understood and appropriately managed. This is important both for conformance a

4、nd performance. It is essential that strategic planning and management decisions are made appropriately in the context of the risk appetite of the corporation and its various stakeholders – especially its shareholders. I

5、f a company does not have a good understanding of risk, the likelihood of conformance and performance failure is high, this implies good internal a</p><p>　　Keywords: Fraud Risk Management, Corporate Governa

6、nce, Good Governance, Fraud,</p><p>　　INTRODUCTION</p><p>　　The upsurge of financial scandals in the era of the 21st century raised awareness of deep-seated fraudulent activities (Kerr and Murth

7、y 2013). Financial statement fraud has cast an increasingly adverse impact on the individual investors and the stability of global economies (Zhou and Kapoor 2011). The failure of Enron has caused about a $70 billion los

8、t in the capital market. The Computer Security Institute reported a significant increase in financial fraud cases recently (Reddy et al. 2012). Th</p><p>　　Financial statements are basic documents to reflect

9、 a company's financial status (Beaver 1966). Fraudulent financial reports are perpetrated to increase stock prices or to get loans from banks (Ravisankar et al., 2011). Financial statement fraud detection is vital be

10、cause of the devastating consequences of financial statement frauds (Ngai et al. 2011). Fraud behaviours are often subtle in the beginning (Chivers et al., 2013), therefore, it is difficult to detect them. Regulations pl

11、ay an importa</p><p>　　The board of directors is the body that oversees the activities of an organisation. The board has a wide range of roles and functions that address both performance and conformance. It

12、is preferable that the roles and responsibilities of the board be explicitly set out in a written chatter or constitution. The board must ensure appropriate procedures are in place for risk management and internal contro

13、ls, and it must also ensure that it is informed of anything untoward or inappropriate in the ope</p><p>　　Despite these expectations, in many high-profile corporate collapses it is apparent that the board wa

14、s informed about key business decisions or simply chose to comply with management. For example, in the case of a former prominent Australian company, HIH Insurance, it was apparent that the major takeover of another comp

15、any, FAI Insurance, was undertaken without rigorous debate at board level or due diligence being carried out before the transaction was finalised (CPA, 2016).</p><p>　　RISK MANAGEMENT</p><p>　　R

16、isk management is defined as the “process of understanding and managing risks that the entity is inevitably subject to in attempting to achieve its corporate objectives (CIMA, 2005). For an organisation risks are potenti

17、al events that could influence the achievement of the organisation’s objectives. Risk management is about understanding the nature of such events and where they represent threats, making positive plans to mitigate them.

18、Fraud is a major risk that threatens the business, not only</p><p>　　Risk management is also an increasing important process in many businesses and the process fits in well with the precepts of good corporat

19、e governance. In recent years, the issue of corporate governance has been a major area for concern in many countries. In the UK, the first corporate governance report and code of best practice is considered to be the Cad

20、bury Report in 1992, which was produced in response to a string of corporate collapses. There have been a number of reports since, covering pr</p><p>　　The Need for Governance</p><p>　　Governanc

21、e describes the overall guidance of organisations and focuses on achieving strong performance while ensuring compliance with obligations. Effective governance is very important and poor governance has often led financial

22、 disasters for individual companies, and even whole economies. Governance is the system by which companies are directed and controlled, and accountability is assured. While the concept is usually associated with corporat

23、e governance, that is the governance of large liste</p><p>　　The governance of enterprises is broadly structured by the law, not just corporate law but also employment law and so forth. It is the first duty

24、of directors to ensure that the enterprise operates with in the law. However, beyond requiring a board of director’s exercise certain duties such as the duty of care and diligence, corporation law gives considerable scop

25、e for directors to exercise decision-making in the best interests of the company. It is here where the skills of governance become cri</p><p>　　Good governance aims to ensure that organisations are properly

26、run in the best interests of their shareholders, including the optimal performance of national and international economies. At an organisational level, the behavioural styles and business management practices of managers

27、 (and other employees) or directors can result in outcomes that are not in the best interests of shareholders and other stakeholders. These situations can range from relatively minor technical breaches of policies or <

28、;/p><p>　　The Role of the Board</p><p>　　As corporations grow in size, there is also a separation of the ownership and management. Over time, the legal duties and responsibilities of directors have

29、 evolved to protect the interests of the owners, who are not able to observe closely the daily occurrences within a corporation. In most jurisdictions, there is a core group of director’s duties and responsibilities that

30、 have arisen from either statue or case law. The key duties are to:</p><p>　　Avoid conflict of interest and where these exist, ensure they are appropriately declared and as required by law, otherwise mange c

31、orrectly</p><p>　　Act in best interests of the corporation</p><p>　　Exercise powers with proper purposes</p><p>　　Retain discretionary powers and avoid delegating the director’s res

32、ponsibility</p><p>　　Act with care, skill and diligence</p><p>　　Be informed about the corporation’s operations, and</p><p>　　Prevent insolvent trading</p><p>　　Consequ

33、ently, the board of directors should have implemented a strategy settings design to identify potential events that may affect the entity (Gelinas, Dull & Wheeler, 2012). These strategy settings reflect in a framework

34、 which is called “Enterprise Risk Management” (ERM).</p><p>　　In formal corporate governance principles, managers are the agents of the board responsible for pursuing the vision of the company as developed b

35、y the board, and fulfilling the strategic direction determined by the board. The CEO in most companies is also a director and a member of the board (and there are often other executive directors such as the CFO of the co

36、mpany). These executives’ directors have a full role working with the board to advance strategic direction and establish the policies a</p><p>　　Of course, in reality the interface of governance and manageme

37、nt is more complex. Often boards and management respect and understand the different roles and have a commitment to make the relationship work. However, sometimes tensions do emerge, for example, in the choice of strateg

38、y. Because of rapidly changing markets and technology, boards often have to be continuously engaged in strategic decisions, unlike in the past. At times, managers may feel that the board is becoming too involved in the&l

39、t;/p><p>　　Skeet (2015) examines this issue from the perspective of both the board of directors and the management team. When CEOs are asked what issues contribute to the board and management being at cross pur

40、poses, they point to two main factors: directors acting ‘out of position’ and attempting to play a management role; or a conflict of interest where, even if disclosed, directors are not able to place the interests of the

41、 organisation above their own or those of the group they are representing.</p><p>　　INTERNATIONAL PERSPECTIVES ON CORPORATE GOVERNANCE</p><p>　　Globalisation has caused major changes in the way

42、incorporations are run. Inevitable changes in the size and the structure of companies, including their ownership structures, have had a substantial effect on the way corporations are controlled. For example, many traditi

43、onal Australian companies, some listed on ASX, are now effectively controlled by owners in diverse locations such as the United States, China, Singapore, India, the United Kingdom and Germany. These owners are subject to

44、 governanc</p><p>　　United Kingdom</p><p>　　In 1991, following a series of high profile corporate collapses, the London Stock Exchange, together with industry and accounting and finance professi

45、onals, established the Cadbury Committee. The Cadbury report, Financial Aspects of Corporate Governance (CFACG, 1992), gave recommendations to companies that have been adopted in varying degrees by the European Union, th

46、e United States, the World Bank and many other countries and regions. The recommendations on governance had an important feature t</p><p>　　United States</p><p>　　The Committee of Sponsoring Org

47、anisation of the Treadway Commission (COSO) was formed in 1985 to sponsor the National Commission on Fraudulent Financial Reporting. Its 1994 report, Internal Control- Integrated Framework (COSO, 1994), provided a detail

48、ed definition and discussion of internal control. In 1999, it reported on fraudulent financial reporting (COSO, 1999). Important findings included the frequent involvement of the CEO and CFO in frauds, captured boards th

49、at were dominated by insiders</p><p><b>　　Australia</b></p><p>　　The Ramsay Report (Ramsay 2001) examined the adequacy of Australian legislative and professional requirements regardi

50、ng the independence of external auditors and made recommendations for changes. Some parts of the report were concerned directly with audit independence and others were designed generally to enhance audit independence; fo

51、r example; establishing audit committees and board to oversee audit independence issues. In 2002, the Australian Stock Exchange (since renamed Australian Securitie</p><p>　　Again, the Australian government r

52、eleased a discussion paper (CLERP, 2004) in the aftermath of the collapses of, among others, Enron in the United States and HIH Insurance in Australia. This paper known as Corporate Law Economic Reform Program (CLERP) ou

53、tlined proposals for audit and financial reporting reform, as well as other legislative proposals, to improve corporate governance practices in Australian companies. This report was passed by the Australian Government, c

54、oming into effect on 1 Jul</p><p>　　OECD PRINCIPLES OF CORPORATE GOVERNANCE</p><p>　　The OECD (Organisation for Economic Co-operation and Development), with members and funding sources from coun

55、tries with major market-oriented economies, has developed international best practice principles of governance which was first published in 1999 (OECD, 1999) and were updated in 2004 (OECD, 2004) with a new first princip

56、le giving a broad view of governance including performance. A review of these principles started in 2014 and following an extensive consultation, the updated principles we</p><p>　　The OECD Principles specif

57、y six principles:</p><p>　　?Ensuring the basis for an effective corporate governance framework</p><p>　　?The rights and equitable treatment of shareholders and key ownership functions</p>

58、<p>　　?Institutional investors, stock markets, and other intermediaries</p><p>　　?The role of stakeholders in corporate governance</p><p>　　?Disclosure and transparency; and</p><

59、;p>　　?The responsibilities of the board</p><p>　　DISCUSSION</p><p>　　Although corporate governance is usually linked to management, there is a strong bond between corporate governance and eth

60、ics and/or social responsibility of the business. Corporate governance encourages a trustworthy, moral, as well as ethical environment. From this point of view governance takes into account the transparency of the intern

61、al and external audit, the sincerity of the managers regarding the company’s financial results and financial statements, the manager actions towards the small</p><p>　　RECOMMENDATION</p><p>　　Af

62、ter considering risk management and corporate governance principles employed by a different country, it is clear that all the policies and principles adopted were mainly focussing on how to avoid and minimise risk and al

63、so to maintain good corporate governance. It can also take into account the self-interest characteristics of individual. This study recommends various contributions in order to improve and effectively enforce the princip

64、les and policies stated.</p><p>　　Establishing of a Forensic investigation team</p><p>　　Whenever an allegation arises, it is recommended that the Forensic Investigation Team head by a qualified

65、 Forensic Accountant should handle the investigation. This is to ensure the board and the management are not acting in any favour or bias.</p><p>　　Formulate a response</p><p>　　The objectives o

66、f the investigation should be clearly identified along with resources required, the scope of the investigation and the timescale.</p><p>　　The objectives will be driven by the organisation's attitude

67、 to fraud and the preferred outcome for dealing wit h fraud.</p><p>　　An action plan should be prepared and roles and responsibilities should be delegated in accordance with the skills and experience of

68、 the individuals involved.</p><p>　　The individual in overall control of the investigation should be clearly identified, as should the powers available to team members.</p><p>　　Reporting p

69、rocedures as well as protocols for handling and recording evidence should be clearly understood by everybody.</p><p>　　Follow up action</p><p>　　There are lessons to be learned from every ide

70、ntified incident of fraud.</p><p>　　The organisation's willingness to learn from experience is as important as any other response.</p><p>　　Large organisations may consider establishing a sp

71、ecial review to examine the fraud with a view to recommending improvements to systems and procedures.</p><p>　　Smaller organisations may consider discussing the issues with some of its more experienced peopl

72、e, with the same objectives in mind.</p><p>　　It is important that recommended changes are implemented promptly.</p><p>　　CONCLUSION</p><p>　　The secret of a successful company is t

73、he ability of its board and senior management to assess its principles and policies in order to make decisions that achieve the correct balance over time. While the best corporations do this well, poorer corporations do

74、it less effectively and those that do it worst almost inevitably cease to exist. The many rules and expectations confronting corporations, along with the relationships must be understood and managed. It has been identifi

75、ed that both conforma</p><p>　　REFERENCES</p><p>　　ASX Corporate Governance Council (ASX CGC) 2014, Corporate Governance Principles and Recommendations, 3rd edn, Australian Securities Exchange,

76、Sydney, accessed 12 September 2017, http://www.asx.com.au/documents/asx-compliance/cgc-principles-and-recommendations-3rd-edn.pdf</p><p>　　Australian Securities Exchange (ASX) 2014, ASX Listing Rules, Chapte

77、r 1 ‘Admission’, Sydney, accessed 10 September 2017, http://www.asx.com.au/regulation/rules/asx-listing-rules.htm.</p><p>　　Beaver, W. H. (1966). Financial ratios as predictors of failure. Journal of Account

78、ing Research, 4, 71-111.</p><p>　　Cadbury, S. A. (2000). Family firms and their governance: Creating tomorrow's company from today's (p. 5).</p><p>　　London: Egon Zehnder International.;

79、 hhttp://www.ecgi.org/codes/documents/Cadbury.pdf .</p><p>　　Chivers, H., Clark, J. A., Nobles, P., Shaikh, S. A., & Chen, H. (2013). Knowing who to watch: Identifying attackers whose actions are hidden

80、within false alarms and background noise. Information Systems Frontiers, 15(1), 17-34.</p><p>　　Committee of Corporate Governance (CGC) 1998, Final Report (Hample Report), Gee Publishing, London, accessed 08

81、 September 1017</p><p>　　Committee of Sponsoring Organisations of the Tredway Commission (COSO) 1994, Internal Control-Integrated Framework, American Institute of Certified Public Accountants, New York.</

82、p><p>　　Committee of Sponsoring Organisations of the Tredway Commission (COSO) 1999, Fraudulent Financial Reporting 1987-197; An Analysis of US Public Companies, accessed 05 September 1017, http://www,coso.org.

83、/publications/ffr_1987_1997.pdf.</p><p>　　Corporate Law Economic Reform Program (CLERP) 2004), Corporate Law Economic Reform Program (Audit Reform and Corporate Disclosure) Act 2004 (CLERP 9), Australian Fed

84、eral Parliament, Canberra</p><p>　　CPA Program, Ethics and Governance, 2016, published by Deakin University, Geelong, Victoria, Australia Drever, M, Stanton, P & McGowan, S. 2007 Contemporary Issues in A

85、ccounting, John Wiley & Sons Australia,Ltd.</p><p>　　Financial Reporting Council (FRC) 2003, The Combine Code on Corporate Governance, London.</p><p>　　Financial Reporting Council (FRC) 2012

86、, The UK Stewardship Code (FRC Code), accessed 02 September 2017, http://www.frc.org.uk/Our-Work/Codes-Standard/Corporate-Governance.aspx.</p><p>　　Financial Reporting Council (FRC) 2014, The UK Corporate Go

87、vernance Code (FRC Code), accessed 04 September 2017, http://www.frc.org.uk/Our-Work/Codes-Standard/Corporate-Governance.aspx.</p><p>　　Hogan, C. E., Rezaee, Z., Riley, R. A., & Velury, U. K. (2008). Fin

88、ancial statement fraud: insights from the academic literature. Auditing: A Journal of Practice & Theory, 27(2), 231-252.</p><p>　　Kerr, D. S., & Murthy, U. S. (2013). The importance of the CobiT fram

89、e- work IT processes for effective internal control over financial reporting in organizations: an international survey. Information & Management, 50(7), 590-597.</p><p>　　Knowing who to watch: identifyin

90、g attackers whose actions are hidden within false alarms and background noise. Information Systems Frontiers, 15(1), 17-34.</p><p>　　Lipman, F, D, (2012), Why corporate governance failures continue, accessed

91、 09 September 2017, http://tcbblogs.org/governance/2017/04/17/why-corporate-governance-still-continues-to-fail/</p><p>　　Ngai, E. W. T. (2003). Selection of web sites for online advertising using the AHP. In

92、formation and Management, 40(4), 233-242.</p><p>　　Ngai E, Hu Y, Wong Y, Chen Y, Sun X. The Application of Data Mining Techniques in Financial Fraud Detection: A Classification Framework and an Academic Revi

93、ew of Literature. Decision Support Systems 2011; 50: 559–569. Accessed 10 September 2017.</p><p><b>　　中文譯文：</b></p><p>　　金融/財(cái)務(wù)欺詐風(fēng)險(xiǎn)管理和公司治理</p><p>　　摘要：風(fēng)險(xiǎn)管理是非常重要的，因?yàn)槠溆欣诠芾?/p>

94、者評(píng)估、理解和恰當(dāng)管理風(fēng)險(xiǎn)。這對(duì)于管理的一貫性和績(jī)效表現(xiàn)都很重要。在公司及其各利益相關(guān)方（尤其是股東）的風(fēng)險(xiǎn)偏好背景下，制定戰(zhàn)略規(guī)劃和管理決策至關(guān)重要。如果公司對(duì)風(fēng)險(xiǎn)沒有很好地理解，那么在管理的一貫性和績(jī)效表現(xiàn)方面都極可能變得很差，這就需要良好的內(nèi)部和外部企業(yè)情報(bào)。大型跨國(guó)公司對(duì)全球經(jīng)濟(jì)產(chǎn)生重大影響。這些實(shí)體企業(yè)受到激烈的競(jìng)爭(zhēng)，需要投資者和客戶的信心來支持他們的活動(dòng)。治理不善會(huì)對(duì)客戶和投資者產(chǎn)生不利影響，并使公司失去競(jìng)爭(zhēng)力。這也會(huì)影響整

95、個(gè)經(jīng)濟(jì)體。在全球金融危機(jī)（GFC）背景下，美國(guó)投資銀行雷曼兄弟的倒閉表明企業(yè)倒閉可能會(huì)損害全球經(jīng)濟(jì)。雷曼兄弟未能妥善管理和理解風(fēng)險(xiǎn)，這是企業(yè)治理失敗的一個(gè)顯性例子。</p><p>　　關(guān)鍵詞：欺詐風(fēng)險(xiǎn)管理，公司治理，善治，欺詐</p><p><b>　　引言</b></p><p>　　21世紀(jì)時(shí)代金融丑聞的激增引發(fā)了對(duì)深層欺詐活動(dòng)的認(rèn)識(shí)（

96、Kerr和Murthy，2013）。財(cái)務(wù)報(bào)表欺詐對(duì)個(gè)人投資者和全球經(jīng)濟(jì)的穩(wěn)定性產(chǎn)生了越來越不利的影響（Zhou和Kapoor，2011）。安然公司的失敗導(dǎo)致資本市場(chǎng)損失了大約700億美元。計(jì)算機(jī)安全協(xié)會(huì)最近報(bào)告了金融欺詐案件的大幅增加（Reddy等人，2012年）。許多欺詐事件的增加對(duì)潛在投資者來說是一個(gè)嚴(yán)重的抑制因素，因?yàn)槠墼p性的財(cái)務(wù)報(bào)告對(duì)公司聲譽(yù)和市場(chǎng)價(jià)值產(chǎn)生了巨大的負(fù)面影響（Hogan等，2008）。</p><

97、;p>　　財(cái)務(wù)報(bào)表是反映公司財(cái)務(wù)狀況的基本文件（Beaver，1966）。提起欺詐性財(cái)務(wù)報(bào)告是為了提高股票價(jià)格或從銀行獲得貸款（Ravisankar等，2011）。由于財(cái)務(wù)報(bào)表欺詐的破壞性后果，財(cái)務(wù)報(bào)表欺詐檢測(cè)至關(guān)重要（Ngai等人，2011）。欺詐行為在開始時(shí)通常很微妙（Chivers等，2013），因此很難檢測(cè)到它們。法規(guī)在強(qiáng)調(diào)審計(jì)師充分評(píng)估欺詐性財(cái)務(wù)報(bào)告風(fēng)險(xiǎn)的責(zé)任方面發(fā)揮著重要作用（Srivastava等，2009）。然而，

98、由于缺乏合理保證的普遍接受的定義，審計(jì)方法的局限性和成本限制，檢測(cè)欺詐仍然很困難（Spathis，2002; Hogan等，2008）。</p><p>　　董事會(huì)是監(jiān)督組織活動(dòng)的機(jī)構(gòu)。該板具有廣泛的角色和功能，可以同時(shí)滿足性能和一致性要求。董事會(huì)的角色和職責(zé)最好在書面的喋喋不休或憲法中明確規(guī)定。董事會(huì)必須確保為風(fēng)險(xiǎn)管理和內(nèi)部控制制定適當(dāng)?shù)某绦?，并且還必須確保在執(zhí)行這些程序時(shí)向其通報(bào)任何不當(dāng)或不適當(dāng)?shù)那闆r。任何重

99、大運(yùn)營(yíng)問題也將提請(qǐng)董事會(huì)注意，以便進(jìn)行適當(dāng)?shù)目紤]和決策。</p><p>　　盡管存在這些期望，但在許多備受矚目的企業(yè)倒閉中，董事會(huì)顯然已了解關(guān)鍵業(yè)務(wù)決策或僅選擇遵守管理層。例如，就一家前澳大利亞著名公司HIH Insurance而言，顯然主要收購另一家公司FAI Insurance，在董事會(huì)層面沒有進(jìn)行嚴(yán)格的辯論或在交易最終確定之前進(jìn)行盡職調(diào)查（注冊(cè)會(huì)計(jì)師，2016）。</p><p>