La nueva arquitectura financiera internacional: lecciones y experiencias de África
Main Article Content
Keywords
Gobierno corporativo, Normas Internacionales de Información Financiera (NIIF), Nueva Arquitectura Financiera Internacional (NAFI), transparencia
Resumen
El propósito de este artículo es examinar los requisitos y los éxitos de la Nueva Arquitectura Financiera Internacional (NAFI) sobre transparencia y gobierno corporativo desde una perspectiva global, con enfoque especial en África. En los últimos años, la transparencia, la rendición de cuentas y el buen gobierno se han convertido en temas clave con muchos países de todo el mundo después de haber adoptado las Normas Internacionales de Información Financiera (NIIF) y los códigos de gobierno corporativo. Los resultados de estas iniciativas han sido poco convincentes. La investigación de escritorio se utiliza para recopilar literatura y los datos sobre el cumplimiento de los códigos de gobierno corporativo y las Normas Internacionales de Información Financiera (NIIF) y otros requisitos NAFI. En este estudio se estableció que, a pesar de las muchas iniciativas regionales y globales por parte del Banco Mundial y los organismos reguladores pertinentes, el cumplimiento con las NIIF y la gobernabilidad en algunas partes de África es todavía para llegar a su mejor momento y directrices no se siguen completamente dando lugar a oportunidades de mejora y ajustes de políticas. Esta investigación tiene implicaciones y usos tanto para instituciones como reguladores globales y locales que se ocupan de la estabilidad económica y el crecimiento como el Banco Mundial, los bancos centrales, los mercados de capital y los consejos de administración de las empresas y el gobierno en general. Los hallazgos contribuyen a los debates de gobierno al proporcionar perspectivas adicionales desde África sobre el cumplimiento de las normas de contabilidad y códigos en una región donde la investigación y la gestión empresarial y las cuestiones de presentación de informes son todavía factores de confusión.
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Referencias
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Robinson, T. & Munter, P. (2004). Financial Reporting Quality: Red Flags and
Accounting Warning Signs. Commercial Lending Review. , 1-15Retrieved from: http://www.tsi-thailand.org/images/stories/TSI2012_Professional/Download/CISA2_FinancialReportingQuality.pdf
ROSC Uganda (2008). Report on the observance of Standards and Codes (ROSC) on
Uganda Accounting and Auditing Standards. Retrieved from:
http://www.worldbank.org/ifa/rosc_aa_uga.pdf
Shleifer, A., & Vishny, R. W. (1997). A Survey of Corporate Governance. The Journal of Finance, 52(2), 737–783. doi:10.1111/j.1540-6261.1997.tb04820.x
Singh, R. & Newberry, S. (2008). Corporate Governance and International Financial
Reporting standard (IFRS): The Case of Developing Countries. Research in
Accounting in Emerging Economies, 8, 483–518.
Soederberg, S. (2002). The contradictions of the New International Financial
Architecture: another procrustean bed for emerging markets? Third World Quarterly, 23(4), 607–620. Retrieved from: http://www.jstor.org/stable/3993478
Stanwick, P. (2008). Corporate Governance in the 21st Century: Do We Need Global
Standards? Queens University Belfast conference 7-9 September 2008. Retrieved from: http://wwwcrrconference.org
Tan, W. & Tan, M. (2004). The Impact of Corporate Governance on Value Creation in
Entrepreneurial Firms. Singapore: Singapore Management University Library.
Rencontres de St-gall 2004 (2004).
Available at: http://works.bepress.com/weeliang_tan/7
The Accountant (2006). Applied Corporate Governance: Lessons from Corporate
Failures. Nairobi: Journal of the institute of Certified Public Accountants of Kenya, 13-14.
World Bank (2005). ‘T O O L K I T 2 Developing Corporate Governance Codes of Best
Practice users guide’. Washington, USA: The World Bank and IFC. Retrieved from: http://www.gcgf.org/wps/wcm/connect
World Bank (2010). Report on the observance of Standards and Codes (ROSC) on
Kenya Accounting and Auditing Standards. World Bank Group. Retrieved from:
http://www.worldbank.org/ifa/rosc_aa.html
Ashbaugh-Skaife, H., Collins, D. W. & LaFond, R. (2006). The effects of corporate governance on firms’ credit ratings. Journal of Accounting and Economics, 42(1–2), 203–243. doi: http://dx.doi.org/10.1016/j.jacceco.2006.02.003
ASX Corporate Governance Council., & Australian Stock Exchange. (2003). Principles of good corporate governance and best practice recommendations. Sydney: Australian Stock Exchange Ltd.
Bank for International Settlements. (1998). Report on the international Financial Architecture on work groups. Bank for International Settlements. Retrieved from: http://www.bis.org/publ/othp01.htm
Barth, M. E., Landsman, W. R., & Lang, M. H. (2008). International Accounting Standards and Accounting Quality. Journal of Accounting Research, 46(3), 467–498. doi:10.1111/j.1475-679X.2008.00287.x
Brown, L. & Caylor, M. (2004). Corporate Governance and Firm Performance. Georgia: Available at SSRN. doi: http://dx.doi.org/10.2139/ssrn.586423
Bruner, C. (2011). Corporate Governance Reform in a Time of Crisis. Journal of Corporation Law, 36(2), 309–341.
Centre for Corporate Governance (CCG). (2006). Training Course for Directors. Handbook. Nairobi, Kenya.
Christensen, H, Lee, E. & Walker, M. (2008). Incentives or Standards: What Determines Accounting Quality Changes Around IFRS Adoption? In AAA 2008 Financial Accounting and Reporting Section (FARS) Paper. Minneapolis: SSNR. doi:http://dx.doi.org/10.2139/ssrn.1013054
Coffee, J. (2005). A Theory of Corporate Scandals: Why the U.S. and Europe Differ’. Columbia Law and Economics Working Paper No. 274 Available at SSRN. doi: http://dx.doi.org/10.2139/ssrn.694581
Economic Commission for Africa. (2002).Guidelines for Enhancing Good Economic and
Corporate Governance in Africa. New York: Economic Commission for Africa.
http://repository.uneca.org/bitstream/handle/10855/5544/Bib-39457.pdf?sequence=1
Fama, E. F. (1980). Agency Problems and the Theory of the Firm. Journal of Political Economy, 88(2), 288–307. Retrieved from: http://www.jstor.org/stable/1837292
IAS Plus. (2010). Background to International Financial Reporting Standards. Retrieved from: http://www.iasplus.com/en/resources/ifrsf/due-process/background-to-ifrs
Iliev, P. (2010). The Effect of SOX Section 404: Costs, Earnings Quality, and Stock Prices. The Journal of Finance, 65(3), 1163–1196. doi:10.1111/j.1540-6261.2010.01564.x
Leblanc, R. & Gillies, J. (2003). The Coming Revolution in Corporate Governance. Ivey Business Journal 68, 1-11. Retrieved from: http://iveybusinessjournal.com/topics/governance/the-coming-revolution-in-corporate-governance#.VGOLFjSG9qk
Leke, A, Lund, S, Roxburgh, Ch., & van Wamelen, A. (2010). What’s driving Africa’s growth? Insights & Publications (McKinsey & Company). Retrieved from:
http://www.mckinsey.com/insights/economic_studies/whats_driving_africas_growth
Lipton, P. (2003). ‘The Demise of HIH: Corporate Governance lessons’. Keeping Good
Companies, 55(5), 273-277.
Mckinseys & Company (2002). Global investor Opinion Survey: Key findings. Retrieved from: http://www.eiod.org/uploads/Publications/Pdf/II-Rp-4-1.pdf
Montgomery, S. (2007). ‘Corporate Governance in Developing Countries:
Shortcomings, Challenges & Impact on Credit’. Congress to celebrate the fortieth annual session of UNCITRAL, Vienna 9-12 July 2007. Retrieved from:
http://www.uncitral.org/pdf/english/congress/Cooper_S_rev.pdf
OECD. (2009). Principles of Corporate Governance. Paris: OECD. Retrieved from: http://www.oecd.org/corporate/ca/corporategovernanceprinciples/31557724.pdf
Okeahalam, C. & Akinboade, O. (2003). A Review of Corporate Governance in
Africa: Literature, Issues and Challenges Paper. Global
Corporate Governance Forum, 15 June 2003. Retrieved from: http://www.researchgate.net/publication/237256378_A_Review_of_Corporate_Governance_in_Africa_Literature_Issues_and_Challenges
Ramalho, A. (2013). African Corporate Growth Depends on Corporate
Governance. Institute of Directors in Southern Africa (IoDSA). Retrieved from: http://www.iodsa.co.za/news/129222/African-Corporate-Growth-Depends-on-Corporate-Governance.htm
Reilly, D. (2006). ‘Sarbanes-Oxley Changes Take Root’. The wall street Journal, March
3. Retrieved from: http://online.wsj.com/articles/SB114135577334088374
Robinson, T. & Munter, P. (2004). Financial Reporting Quality: Red Flags and
Accounting Warning Signs. Commercial Lending Review. , 1-15Retrieved from: http://www.tsi-thailand.org/images/stories/TSI2012_Professional/Download/CISA2_FinancialReportingQuality.pdf
ROSC Uganda (2008). Report on the observance of Standards and Codes (ROSC) on
Uganda Accounting and Auditing Standards. Retrieved from:
http://www.worldbank.org/ifa/rosc_aa_uga.pdf
Shleifer, A., & Vishny, R. W. (1997). A Survey of Corporate Governance. The Journal of Finance, 52(2), 737–783. doi:10.1111/j.1540-6261.1997.tb04820.x
Singh, R. & Newberry, S. (2008). Corporate Governance and International Financial
Reporting standard (IFRS): The Case of Developing Countries. Research in
Accounting in Emerging Economies, 8, 483–518.
Soederberg, S. (2002). The contradictions of the New International Financial
Architecture: another procrustean bed for emerging markets? Third World Quarterly, 23(4), 607–620. Retrieved from: http://www.jstor.org/stable/3993478
Stanwick, P. (2008). Corporate Governance in the 21st Century: Do We Need Global
Standards? Queens University Belfast conference 7-9 September 2008. Retrieved from: http://wwwcrrconference.org
Tan, W. & Tan, M. (2004). The Impact of Corporate Governance on Value Creation in
Entrepreneurial Firms. Singapore: Singapore Management University Library.
Rencontres de St-gall 2004 (2004).
Available at: http://works.bepress.com/weeliang_tan/7
The Accountant (2006). Applied Corporate Governance: Lessons from Corporate
Failures. Nairobi: Journal of the institute of Certified Public Accountants of Kenya, 13-14.
World Bank (2005). ‘T O O L K I T 2 Developing Corporate Governance Codes of Best
Practice users guide’. Washington, USA: The World Bank and IFC. Retrieved from: http://www.gcgf.org/wps/wcm/connect
World Bank (2010). Report on the observance of Standards and Codes (ROSC) on
Kenya Accounting and Auditing Standards. World Bank Group. Retrieved from:
http://www.worldbank.org/ifa/rosc_aa.html
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nov 26, 2014
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Cómo citar
Outa, E. R. (2014). La nueva arquitectura financiera internacional: lecciones y experiencias de África. AD-Minister, (25), 49–78. Recuperado a partir de https://publicaciones.eafit.edu.co/index.php/administer/article/view/2506
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Biografía del autor/a
Erick Rading Outa, Faculty Strathmore Business School and Researcher\Consultant. Nairobi, Kenya.
Erick Outa is a researcher, consultant and Adjunct faculty at Strathmore Business School. He is a member of the Institute of Certified Public Accountants of Kenya (ICPAK), Academy of International Business, Institute of Directors and IFC CG Solutions. He is a former a CFO and Director at Sara Lee H&BC Africa Regional Office and USIU.
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