Disclosure of non-financial information, especially regarding corporate governance (CG), is an important element of companies’ communication with their stakeholders. This paper sets out to define—from a theoretical and practical perspective—the scope of CG reporting in Polish fuel, gas, and energy (“energy”) companies required under EU directives and national regulations. The paper presents the results of a study investigating whether and to what extent annual corporate governance statements (CGSs) prepared by energy companies, compared with other companies listed on the Warsaw Stock Exchange (WSE-LCs), are consistent with “Best Practices for WSE-LCs 2016” (BPs for WSE-LCs). The study group consisted of energy companies submitting their 2017–2020 reports, as well as other companies listed on the WSE, as a comparative group (i.e., a total of 179 reports). We used a monographic method to study theoretical problems and annual CGSs and performed a critical review of the literature, as well as comparative, content, and descriptive analyses. The analysed CGSs helped answer the following question: to what extent do energy companies and other WSE-LCs pursue the CG rules specified in BPs for WSE-LCs? The results indicate that such companies follow various approaches to CG disclosures and reporting obligations. However, what truly matters is not the legal obligation itself, but rather the companies’ social responsibility for maintaining good relations with their stakeholders. The paper will contribute to CG studies, because no Polish theorist has so far analysed CG disclosures in annual non-financial reports. The paper fills a research gap in information on adherence to best practices in CG disclosures in CGSs of all WSE-LCs. The study presents conclusions of CG disclosures by energy companies, which can provide the basis for further research in other sectors.
Purpose: The objective of this article is to evaluate to what extent Corporate Governance Statements (CGS) prepared by companies listed on the Warsaw Stock Exchange (GPW) are consistent with Best Practice for GPW Listed Companies. Design/Methodology/Approach: In the first part we applied critical review of subject literature and the monographic method. In the second part, the content analysis method was used, and the basic source material were the CGS for 2018 and 2019. The study group consisted of all WIG20, MWIG40 and sWIG80 companies listed on Warsaw Stock Exchange that submitted their 2018and 2019 reports (280 reports). The CGS were studied using methods including content analysis, comparative and descriptive analysis, and induction. Findings: The analysed CGS helped to answer the question to what extent GPW listed companies pursue the "comply or explain" principle regarding compliance with corporate governance principles and recommendations specified in Best Practice for GPW. The authors investigated whether and to what extent Best Practice is applied and whether the disclosures are useful for the stakeholders. The results indicate that the examined companies follow different approaches to the corporate governance reporting obligations. Practical Implications: Indicating the gap between the expected and the actual scope of disclosures regarding the corporate governance in CGS, which are the primary source of nonfinancial information for a listed company. Originality/value: The study leads to a general conclusion that the imperfect scope of the reported corporate governance information, as well as the quality and usefulness of the disclosures, consists both in the alignment between Best Practice for GPW Listed Companies and currently applicable regulations in Poland, and in the way, companies choose to follow the said document. The study fills a research gap in non-financial disclosures in annual reports. The paper also indicates directions for further study.
Streszczenie: Cel -Celem artykułu jest zaprezentowanie wyników badań dotyczących relacji między audytem wewnętrznym a kontrolą zarządczą w szacowaniu ryzyka prowadzonej działalności do ustalenia planu audytu. Metodologia badania -Zastosowano metody badawcze, takie jak analiza literatury przedmiotu, analiza aktów prawnych i analiza porównawcza. Przeprowadzono ankietę badawczą i wywiad. Ankieta skierowana została do audytorów wewnętrznych, zatrudnionych w jednostkach samorządu terytorialnego i jednostkach budżetowych. Uzupełnieniem badań ankietowych były przeprowadzone z respondentami wywiady. Badania przeprowadzono w 2017 roku. Wynik -Do sformułowania wniosków posłużyły przeprowadzone badania w jednostkach sfery finansów publicznych a także opublikowane przez NIK wyniki przeprowadzonej w 2011 roku kontroli dotyczącej funkcjonowania kontroli zarządczej w jednostkach samorządu terytorialnego, ze szczególnym uwzględnie-niem audytu wewnętrznego. Oryginalność/wartość -W artykule zaakcentowano problem powiązań między audytem wewnętrznym a kontrolą zarządczą w szacowaniu ryzyka prowadzonej działalności na potrzeby planu audytu wewnętrz-nego. Autor opracowania nie spotkał się do tej pory z badaniami, które dotyczyły poruszanego problemu.Słowa kluczowe: audyt wewnętrzny, kontrola zarządcza, ryzyko, plan audytu, cele, zadania, mierniki WprowadzenieOd roku 2010 obowiązuje w sektorze publicznym kontrola zarządcza, która zgodnie z ustawą o finansach publicznych jest ogółem działań, podejmowanych w celu zapewnienia realizacji celów i zadań w sposób zgodny z prawem, efektywny, oszczędny i terminowy. Za kontrolę zarządczą odpowiada kierownik jednostki, który ma zrealizować jej podstawowy cel, jakim jest zarządzanie ryzykiem prowadzonej działalności.Wspieranie kierownika jednostki w realizacji celów i zadań mieści się w zakresie działań audytu wewnętrznego, który dokonuje systematycznej oceny kontroli zarządczej i wykonuje czynności doradcze (Ustawa, 2009, art. 272). Audyt wewnętrzny jest działalnością niezależną i obiektywną. Ocena kontroli zarządczej przez audyt polega na ustaleniu czy jest ona adekwatna, skuteczna i efektywna. Kontrola przeprowadzana jest na podstawie Finanse, Rynki Finansowe, Ubezpieczenia nr 3/2017 (87), cz. 1
The authors have analysed specialized literature concerning audit issues in hospitals analyzing data included in the MF reports for 2012-2019, presenting indicator values related to internal audits, their quality and efficiency. Findings: Studying the literature of the subject revealed that there is a research gap concerning evaluation of the efficiency of internal audits at hospitals. Practical Implications: The authors' analysis of MF reports of internal audit units in hospitals and the interpretation of the indicators contained in them enabled evaluation of the functioning of internal audits at analysed hospitals and determining their position compared to other entities from the research sample. Indicator values for hospitals vary from those obtained from other public sector units, as particular public finance sector units' function in various legal and organizational environments and vary in operational aims and specificity. Originality/Value: The results from the conducted analysis should be regarded as a starting point for more advanced evaluation studies of the functioning of internal audits in hospitals.
Objectives: The purpose of this article is to discuss the regulations on and the functioning principles for internal audits in the Polish health care system. Additionally, this study presents selected results of empirical research with regard to the effectiveness of internal audits in university hospitals. Research Design & Methods:To determine the research problems related to the functioning of the internal audit systems in selected university hospitals the authors analysed specialist literature and reviewed earlier studies addressing this question. On the basis of the analysis of such literature and applicable legislation the authors prepared an anonymous questionnaire and distributed it among internal auditors from a number of university hospitals in the voivodship (region) of Western Pomerania, including the city of Szczecin, and in the city of Poznań.Findings: This paper discusses the legal basis and functioning principles for internal audits in the Polish health care sector. On the basis of a pilot survey study carried out in selected university hospitals in Poland the authors evaluated internal audit efficiency. This study has shown that the perception of the auditor's role and auditing efficiency varies significantly in comparable institutions. These conclusions should be considered as an inspiration for more advanced studies.Implications / Recommendations: The constantly growing scope of health care institutions bound by the internal audit obligations shows that such audits are indeed necessary and demonstrates the efficiency of internal audits in the public sector.Contribution / Value Added: The authors point to potential further research on internal audit efficiency in the Polish health care system.
JEL Classification: M42Streszczenie: Celem opracowania jest wskazanie podstaw prawnych funkcjonowania audytu wewnętrznego w szpitalach, które działają w formie samodzielnych publicznych zakładów opieki zdrowotnej, a także ustalenie, czy były realizowane badania dotyczące efektywności audytu wewnętrznego w tych podmiotach leczniczych. Metody badawcze zastosowane w pracy to analiza literatury przedmiotu, aktów prawnych, informacji zawartych na stronach internetowych Ministerstwa Finansów i Ministerstwa Zdrowia. Można postawić tezę, że audyt wewnętrzny jest jednym z czynników wpływających na jakość zarządzania samodzielnym publicznym zakładem opieki zdrowotnej. Analiza literatury przedmiotu pokazała istniejącą lukę w zakresie badań nad funkcjonowaniem audytu wewnętrznego w szpitalach i jego efektywnością. Istnieje potrzeba prowadzenia takich badań, a inspiracją do nich mogą być raporty umieszczane na stronie internetowej Ministerstwa Finansów, obejmujące wskaźniki opisujące komórki audytu wewnętrznego i wyniki ich pracy.
Purpose-the purpose is to show how internal audit conducted by service providers in selected local government units of West Pomeranian Voivodeship functions. Design/methodology/approach-research tools such as a survey and an interview were used. The survey was sent to the heads of selected local government units. Interviews with the respondents of the surveys were also conducted. The research was completed in 2015. It concerned the tasks performed by the auditors in 2014. Findings-the paper presents the results of research on the functioning of the internal audit conducted by service providers in selected municipalities of West Pomeranian Voivodeship. Originality/value-The executives pointed out some aspects of the functioning of the commissioned internal audit and its usefulness as a tool to ensure the effectiveness of management control.
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