Using ratings of corporate governance developed by RiskMetrics Group (RMG), formerly Institutional Shareholder Services, we investigate whether relatively poor governance is associated with financial restatement, and whether restatement results in improved governance. We identify 150 firms that restated their 2003 financial statements to correct material error, and we use Compustat to generate ...

the concept of value creation is gaining momentum in iran under the open regime. iranian companies are geared to understand and act upon the concept of shareholder value to stay competitive in this unfathomable and volatile environment. most executives today understand that, the need to create shareholder value is paramount and the world’s most competitive management teams are responding to the...

With the development of technologies such as Business Process Execution Language (BPEL), a business-process centric approach to design of information systems has emerged. This approach calls for the modeling and analysis of the business process— both to document it as well as to analyze its risk characteristics – specifically, the risk of errors in the data produced by the process. This focus o...

Today’s companies face increased pressure regarding compliance to legal obligations. Regulations for the financial sector such as Basel II and III, Solvency II, or the Sarbanes-Oxley-Act explicitly demand various requirements. Many of those requirements address the governance and management of information assets, such as data. Companies need to report and track their information architecture, a...

In this paper we describe a new approach for the integrity of audit records. We show how to simultaneously establish the integrity of an entire audit data set and of any derived subsets, adapting techniques that have been used before for redactable signatures. In addition, our algorithms allow for the pseudonymization of data fields, cryptographically enforcing the consistency of chosen pseudon...

Regulatory compliance requirements in the area of Internal Controls such as Sarbanes Oxley Act force enterprises to identify, shape and document their business processes. In this context enterprises require mechanisms to ensure that their business processes implement and fulfill compliance requirements independently from business level requirements. In this paper we present a novel approach for...

This thesis examines anomalies related to the discretionary accruals usage during the tenures of CEOs in listed U.S. companies since the implementation of Sarbanes-Oxley Act. The approach used in this thesis is quantitative in nature. Four well-known discretionary accruals models: Healy model, DeAngelo model, Jones model and modified Jones are used in to separate discretionary accruals from the...

We study the problem of authenticating the content and creation time of documents generated by an organization and retained in archival storage. Recent regulations (e.g., the Sarbanes-Oxley act and the Securities and Exchange Commission rule) mandate secure retention of important business records for several years. We provide a mechanism to authenticate bulk repositories of archived documents. ...