National culture and financial systems

Kwok, Chuck C.Y.; Tadesse, Solomon

doi:10.1057/palgrave.jibs.8400188

Cited by 472 publications

(292 citation statements)

References 28 publications

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“…Third, although Nigerian affiliates of foreign professional bodies, such as the Association of Certified Fraud Examiners (ACFE) and the Institute of Certified Forensic Accountants (ICFA) have sprung up, the extent to which they are meaningfully engaged in anti-fraud investigations and litigation support cases is minimal. Studies have shown that education has a positive, albeit moderate, direct effects on corruption [43]. Above all, the tolerance of African culture to corruption can be ebbed and the beneficial effects of education on corruption enhanced with increased FDI flows and their interaction effects (ibid.…”

Section: Concluding Remarks and Recommendationmentioning

confidence: 99%

The Rise of Fraud Examination and Forensic Accounting in Africa: The Nigerian Experience

Herbert

Tsegba²,

Ene³

et al. 2017

ABR

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This paper documents the rise of fraud examination and forensic accounting education and research in Africa, using Nigeria to mirror the development. With attendant fraud and corrupt practices in Nigeria there are muted discussions on strategic ways to build capacity in the drive to curtail these unwholesome practices. The paper concludes, inter alia, that: (i) fraud examination and forensic accounting (FEFA) education has become an indispensable subject area in the light of the challenge of fraud and corruption in Nigeria's (and Africa's) economy; (ii) there is currently no formal structure for FEFA education in Nigerian tertiary education system even though there is some evidence of integration of forensic accounting education at the undergraduate and postgraduate levels; and (iii) due to the skill set required, FEFA education cannot be conveniently subsumed under traditional accounting programmes. The study recommends the articulation of a clear framework for FEFA education, coordinated by tertiary education regulators and inclusion of routine forensic audits as part of the corporate governance architecture of public and private sector organizations in Nigeria.

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Section: Concluding Remarks and Recommendationmentioning

confidence: 99%

The Rise of Fraud Examination and Forensic Accounting in Africa: The Nigerian Experience

Herbert

Tsegba²,

Ene³

et al. 2017

ABR

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“…1 See Kwok and Tadesse (2006) and Beck, Demirguc-Kunt and Levine (2003) For example, ROA is measured by the ratio of net income to total assets multiplied by 100. 8 The ordered probit model also produces a second set of estimates.…”

Section: Discussionmentioning

confidence: 99%

Risk Perception and the Financial System

Purda

2007

SSRN Journal

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“…When people talk about culture, they talk about a way of life, what people believe, and how they apply that to develop their regulations, organisations and institutions. Kwok and Tadesse (2005) [21] argue that countries differ in the configuration of their financial systems because they are different in terms of their national cultures.…”

Section: Religious and Cultural Factorsmentioning

confidence: 99%

“…The financial systems in Australia, the UK and the USA are very similar and are dominated by their stock markets [21] and although UAE financial systems have some similarities with these countries, there are important differences. These differences play an important role in how the country implements its AML/CFT system.…”

Section: Socio-economic and Financial Factorsmentioning

confidence: 99%

Money Laundering and FATF Compliance by the International Community

Alkaabi

Mohay

McCullagh

et al. 2010

IFIP Advances in Information and Communication Technology

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International audienceThis paper examines the anti-money laundering systems of Australia, the United Arab Emirates (UAE), the United Kingdom (UK) and the United States of America (USA), the extent to which they have implemented the Financial Action Task Force (FATF) recommendations, and how compliance with these recommendations is affected by local cultural and economic factors. The paper makes use of FATF evaluation reports to compare the countries' compliance; it examines some of the underlying cultural considerations and culture-specific ethical issues that affect the extent of compliance, and how cultural and ethical considerations may affect good governance. The findings indicate that the UK and the USA are the most advanced with regards to their compliance with the FATF recommendations and Australia and the UAE less so. The UAE is in particular found to be least compliant. We relate this finding to previous work on how a country's legal and financial systems develop in line with its religion, culture and socio-economic situation, and examine how such local factors have affected the UAE's financial and anti-money laundering and combating the financing of terrorism (AML/CFT) systems. This research will be of interest to policy-makers and government agencies involved in addressing money laundering and its successful detection and prosecution

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National culture and financial systems

Cited by 472 publications

References 28 publications

The Rise of Fraud Examination and Forensic Accounting in Africa: The Nigerian Experience

The Rise of Fraud Examination and Forensic Accounting in Africa: The Nigerian Experience

Risk Perception and the Financial System

Money Laundering and FATF Compliance by the International Community

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