Takaful also known as Islamic insurance industry has been growing rapidly across the globe. The unique organizational structures of takaful operators, their products' and participants' rights have increased the demand for transparency and put additional pressure to voluntarily disclosed more information. This study focuses on disclosure of takaful information from user's perspective. A checklist was developed to represent desirable level of disclosure based on various requirements and standards. To measure the voluntary disclosure level, the checklist was distributed to takaful agents to examine their perception of the disclosure on takaful information. The findings show that majority of the users (86.14%) agreed that all disclosure items on takaful policy requirements are meaningful. It is hoped that the findings will assist authorities in formulating guideline or policy pertaining to meaningful disclosure for the users in the future.
This study aims to determine whether there is any significant association between the audit committee effectiveness and earnings management as a proxy of earnings quality of financial reporting before and after MCCG Revised 2007. Sample data of total 96 Public Listed Company's on Bursa Malaysia in total number of year observation is 570 for six years which are three years before MCCG Revised 2007(2004-2006 and three years after MCCG Revised 2007. The study finds that, there are insignificant association between audit committee effectiveness and earnings management throughout selected period before and after MCCG Revised 2007. However, from all five audit committee characteristics used as variable in this study, only one out of five characteristics of audit committee effectiveness which is higher proportion of audit committee with financial expertise is negatively and significantly associated with earnings management. This study is important as it provides additional knowledge about the impact of audit committee effectives of good corporate governance on reducing EM. Future study can include other measures of earnings quality models such as real earnings management as more accurate result can be captured, and it can be differentiated with other methods. Future research should consider other factors that may compromise the effectiveness of audit committee in performing their role on mitigating the EM activities. For examples, future research may consider the presence of inside directors and management of the company to compromise the audit committee members to perform their role effectively.
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