Financial reporting and corporate governance disclosures of Saudi Essay

Financial reporting and corporate governance disclosures of Saudi banks - Essay Example The intention of this study is the corporate governance as â€Å"the set of institutions that determines how the residual claims are distributed between those who have participated in the generation of profits†. In respect of the corporate reproting Shleifer & Vishny provides a clear statement to elaborate corporate governance as â€Å"a form in which stakeholders make sure they will obtain a return of their investment†. This implies that companies need to develop and implement corporate governance policies and practices to ensure that shareholders can have the confidence in the decisions made by managers and expect returns on the investment. Overall good corporate governance could be viewed as â€Å"the subset of those practices that are welfare enhancing for the economy†. The emphasis on corporate governance took its lead when in the early 2000 the US corporate sector was hit by a series of major corporate scandals involving management and those who were respon sible for ensuring integrity in the financial reporting. These corporate failures were mainly argued as a resultant of not enough supervision and regulatory role played by the government. The accounting profession was also blamed for having weak conceptual framework allowing managers to manipulate their financial reporting in favor of attracting investment from shareholders and eventually collapsing due to unveiling of major frauds involving external auditors assisting managers to cover up the internal mismanagement of financial reporting.

Dr. Wakefields Research & Role Played by Media Essay

Dr. Wakefields Research & Role Played by Media - Essay Example Dr. Wakefield’s research employed rigorous tools and methodologies for which no proper ethical approval was obtained for invasive procedures on children. On the other hand, it was found that Dr. Wakefield had exchanged funds with the lawyers of children’s parents that were made part of the research. The research further employed references of other studies that were conducted by either the coauthors of the same research or his friends. Where autism is a disorder for which little information is present regarding its causative agents and cures, a theory supporting the idea that it is caused by MMR vaccination made many parents believe that prevention from vaccination can benefit their child despite having contradictory evidence in the rates of epidemiological increases after this research. The research was later on criticized by other independent studies which raised questions about the effectiveness of Dr. Wakefield’s work. Presence of a reputable medical journal The Lancet and other media bodies providing coverage to this research further aggravated the situation. A medical journal is usually used by medical practitioners, researchers, and educationists in the same field. However, vetting of Dr. Wakefield’s article by a medical journal allowed journalists and other media channels to disseminate information to local people. As a result, parents refused to provide vaccination to their children in large parts of the world with reported epidemics in the UK, US, Austria, Italy, and Switzerland.