银行内部控制外文文献翻译.docx

银行内部控制外文文献翻译.docx

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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