Applied Business Research Assignment

Running head: APPLIED BUSINESS RESEARCH
Applied Business Research
Name of the Student:
Name of the University:
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APPLIED BUSINESS RESEARCHBrief summary of theories
Accountants and auditors play a major role in keeping the financial records of any firm.
They prepare and assess the financial records of the businesses and ensure that those records are
precise and taw payments are done regularly and on time. Corporate governance refers to the
mechanisms and processes that control and direct the business operations. The principles and
structures of the governance help in identifying the rights and responsibilities of distribution
among the different participants, such as, board of directors, shareholders, managers, auditors,
creditors, regulators, and various other stakeholders. The theories on accounting and corporate
governance work as a guideline for the firms in managing the business of the accountants and
auditors and ensure a righteous working environment for all. All these theories present some
assumptions and methodologies, which create a foundation for the accounting processes and
practices.
Auditing also comes with accounting. Auditing refers to the practices, which ensure the
current practices and the activities in auditing has been performed efficiently and effectively and
at the same time, follow the auditing standards. The accountability, transparency in the system
and improvements in the process are the focus of the auditing operations for achieving better
business outcomes. Authenticity and credibility of the financial reporting are encouraged and
promoted by the auditing theories. This directly follows from the theories of corporate
governance. Hence, corporate governance includes both the accounting and auditing and these
two are interrelated. The research paper focuses on the identification of the contribution of the
accountants and auditors and management of their roles and responsibilities in the financial
institutions of Australia. To focus on the research aim and objectives, four literatures will be
selected and analyzed. This analysis will be based on four themes. The literatures will be based

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APPLIED BUSINESS RESEARCHon the following themes namely, roles and responsibilities of accontants and auditors, corporate
governance in the financial institutions and contribution of accountants and auditors in corporate
governance.
To address these themes in different aspects, the following literatures will be used.
1. Public sector governance and accountability. Critical Perspectives on Accounting by
Almqvist, R., Grossi, G., van Helden, J. and Reichard, C., 2013
2. Corporate governance and corporate social responsibility disclosures: Evidence from an
emerging economy. Journal of business ethics, by Khan, A., Muttakin, M.B. and
Siddiqui, J., 2013
3. Embedding corporate social responsibility in corporate governance: A stakeholder
systems approach. Journal of Business Ethics, by Mason, C. and Simmons, J., 2014
4. Akinola, Amos Olusola., 2013. The Roles of Accountant and Auditor in Corporate
Governance in Nigeria. International Journal of Humanities and Social Science., 4, 26-
38.
Similarities and differences
All the above literature papers revolve around a common theme, that is, financial
activities of the corporate sector and auditing scope. In these papers, the authors have provided
evidences and real world scenario that are beneficial for the corporate organizations to take
appropriate decisions. In all of these articles, various aspects of financial reporting, auditing,
accounting and corporate governance have been discussed, which can help the companies to
improve the existing financial and accounting activities of the businesses. Since, financial
reporting is very crucial in any business and creates a great impact on the overall business