Book-keeping documentation and accounting compliance model of an economic entity

The relevance of the research is due to the strengthening of the role in solving the tasks facing the internal control system of each economic entity, the adoption of the federal accounting standard, updating the requirements for accounting documents, and the development of compliance control systems. Documentation is the main element of the accounting method as a science that help to create an accounting model of an economic entity. Internal control is the method to ensure compliance with legal requirements in the process of enterprises’ operation. The meaning and requirements for accounting documentation remain insufficiently defined both for the object of internal control and for the means of its implementation. The purpose of the study is to determine the role of accounting documentation in the formation of the compliance model of an economic entity and to reveal its importance in the functioning of the internal control system’ elements. Research methods: monographic method, semantic analysis, method of philosophical logic, method of abstract thinking. Results and key conclusions: the author proposed the definition of the accounting compliance model, demonstrated the function of documentation in the formation of models of economic entities; identified and supplemented the areas of risks of failure to achieve the goals of organizations related to accounting documentation; disclosed the role and importance of accounting documents for the organization and functioning of elements of the internal control system. The object of the study is the theoretical provisions of the methodology of accounting and internal control, the subject is accounting documentation. The theoretical and methodological significance lies in the fact that the author introduced the concept of the compliance model of an economic entity for the first time; supplemented the requirements that are prerequisites for the preparation of accounting statements, the violation of which is an area of internal control risk. The results of the research are of practical importance for the creation and organization of the proper operation of the internal control system at enterprises and organizations aimed at compliance with compliance requirements.

Defining Material Compliance—A Comprehensive Analysis

The increase in the number of environmental regulations has resulted in great challenges for corporations in the manufacturing industry, especially within the electronic and electrical and the mechanical engineering sector. To address these compliance requirements, specialized management fields such as environmental compliance, substructures and management approaches have been implemented in industry. Recently, adherence to requirements concerning the composition of products and the use of materials and substances within products has become increasingly important and is referred to as material compliance (MC). Although the topic is of increasing importance, there is no generally accepted definition for MC nor a management framework. Corporations are thus unable to systematically address MC, and compliance violations occur frequently. We derived a definition for MC based on extensive literature research, which we subsequently evaluated in a quantitative survey. Our results indicate that MC is commonly understood as the adherence to requirements concerning the composition of a product and the use of substances and materials within products. By proposing a definition for MC, we aim to introduce a common understanding, enable future research to systematically address the topic and develop a framework for the management of MC.

Global Depository Receipts in India: boon or bane

The Global Depository Receipt (“GDR” or “DR”) is a structured financial instrument denominated in foreign currency and Indian companies issue equity shares/securities underlying the GDR to international investors. Many companies have used GDRs for manipulative and fraudulent practices and the Indian regulator, SEBI has penalised them. This paper aims to evaluate the legitimacy of the GDRs and malpractices associated with them and to find if there is any need for reform in the GDR Scheme, to see if the GDRs are beneficial to the economy or are inherently manipulative instruments and looks at the need to reform the laws governing GDR. The authors have employed the methods, literature review and empirical research. The authors have conducted empirical research of the participants in the Indian GDR industry in April and May of 2021 by way of an online Questionnaire and unstructured telephonic interviews. The study results in the author’s conclusion that the GDRs are legitimate instruments but the participants abused the Scheme and led to malpractices. The authors failed to conclude about the need for reforms in the GDR laws. The paper recommends the suitable amendment of the DR scheme with an intention to plug its loopholes and allow it in foreign jurisdictions with the highest compliance requirements while keeping in mind the cost of such compliance.

Social Network Sites as Community Building Tools in Educational Networking

This paper discusses the educational context of social network sites (SNSs) and the manner in which they are adopted as Europeanization tools to develop the main EU education priorities. The Erasmus + (E+) context, articulated on networks of education bodies, denotes a promising ground to investigate social and digital trends emerging within institutionalized education communities. The research approach counts on a sample of 518 organizations aligned to a set of standards regulated within the institutionalized networking frame of the E+ program. Due to the compliance requirements of E+ guidelines, this work proposes a theoretical juxtaposition of the Community of Inquiry framework and the E+ framework. Final results show an EU educational trend verging to informal affordances and non-formal education features.

Contract-Boundary-Spanning Governance Initiatives in the International Defense Supply Chain of the F-35 Program

International cooperation in the American-led F-35 program inherently triggers national security concerns. Consequently, the multiple exports in the supply chain are subject to intricate licensing and export controls. Drawing on insights from governance and contract theory we introduce a theoretical lens that highlights some important trade compliance challenges in supply chain networks. In this chapter, contract-boundary-spanning governance mechanisms are defined as increasingly sophisticated hard or soft governance mechanisms in the private law sphere that can be deployed by any public or private stakeholder to govern international supply chains. We find contract-boundary-spanning governance initiatives by state and private stakeholders in the defense supply chain of the F-35 program. At the same time, we argue that while serious efforts have been made by various state actors and legislators to reduce the burden in trade compliance requirements in the F-35 program, the industry is still facing a considerable number of compliance challenges. We argue that more contract-boundary-spanning initiatives by the private parties in defense supply chain network are needed if these challenges are to be successfully overcome.

US companies in China face more challenges

Significance Together with the Personal Information Protection Law passed last month, it imposes significant data protection compliance requirements on the corporate sector. These will impact data flows between China and the outside world, adding to the challenges that US companies now face when doing business in China. Impacts China's drive for technological self-sufficiency will increasingly limit market opportunities for US companies. State media's negative coverage of US businesses in China is an indication of growing protectionist sentiment. Instances of US firms moving supply-chain operations out of China are rare and are driven primarily by rising costs. An upcoming US Treasury review of the impact of sanctions could see other tactics used against China, with business implications.

Honduras corruption claims pose challenges for Biden

Significance The two key issues for aspiring presidents will be the pursuit of economic recovery in the wake of the COVID-19 pandemic, and efforts to counter entrenched corruption. Popular frustration with the current government’s stance towards both of these issues is likely to bolster support for opposition and ‘outsider’ candidates. Impacts The 'Engel list' publication may prompt increased compliance requirements for companies investing or operating in Honduras. Anti-corruption protests will increase in the run-up to elections, especially as campaigns get underway. Hernandez will probably seek a means of securing immunity from prosecution after the end of his term.