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Management Disclosures on Internal Control in Annual Reports- A Study on Banking Sector: Bangladesh Perspective

Saha, Anup Kumar; Arifuzzaman, S.M.

Management Disclosures on Internal Control in Annual Reports- A Study on Banking Sector: Bangladesh Perspective Thumbnail


Authors

Anup Kumar Saha

S.M. Arifuzzaman



Abstract

Even though no regulations require, public limited companies include management reports regarding internal controls in annual reports. Accountants and auditors are in a good position to suggest what degree of reporting is appropriate as they are directly involved in auditing financial statements and reviewing internal controls. This is a unique opportunity for management to discuss issues and concerns not communicated elsewhere in the annual report. From the very beginning there is a growing consensus as to what the content should include: financial statement presentation; purpose, nature and components of internal controls; roles of internal audit, independent auditor and audit committee. A significant number of companies studied acknowledge that “the systems are designed to provide only a reasonable assurance of meeting stated objectives.” If independent auditor’s attestation of such management reports were required; such a mandate would have a significant impact on roles of both the independent auditor and management.

Citation

Saha, A. K., & Arifuzzaman, S. (2011). Management Disclosures on Internal Control in Annual Reports- A Study on Banking Sector: Bangladesh Perspective. International Journal of Economics and Finance, 3(5), 216-222. https://doi.org/10.5539/ijef.v3n5p216

Journal Article Type Article
Publication Date Oct 1, 2011
Deposit Date Nov 6, 2013
Publicly Available Date Feb 17, 2014
Journal International Journal of Economics and Finance
Print ISSN 1916-971X
Electronic ISSN 1916-9728
Publisher Canadian Center of Science and Education (CCSE)
Peer Reviewed Peer Reviewed
Volume 3
Issue 5
Pages 216-222
DOI https://doi.org/10.5539/ijef.v3n5p216
Keywords Internal control, Securities and exchange commission, Dhaka stock exchange, Audit committee, 10-K.
Public URL https://durham-repository.worktribe.com/output/1475138

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Copyright Statement
This work is licensed under a Creative Commons Attribution 3.0 License.
© Canadian Center of Science and Education




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