Reforms in Corporate Governance and Their Impact on Financial Reporting Quality

Research Project

Table of Contents
Topic - “Reforms in Corporate Governance and their impact on financial reporting quality”.......1
CHAPTER 1: INTRODUCTION....................................................................................................1
Overview and Background of research.......................................................................................1
Aims and Objectives...................................................................................................................2
Rationale of the study..................................................................................................................2
Significance of study...................................................................................................................2
CHAPTER 2: LITERATURE REVIEW.........................................................................................3
Reason to reform corporate governance within IFIC bank.........................................................3
Strategies by which new corporate governance can be implemented by appropriately..............4
Impact of reformation in corporate governance upon financial reporting quality:.....................6
Benefits gain by IFIC bank after developing corporate governance...........................................6
CHAPTER 3: RESERACH METHODOLOGY & ETHICAL ISSUES.........................................7
CHAPTER 4: ANALYSIS, FINDINGS AND DISCUSSION......................................................7
CHAPTER 5: CONCLUSION AND RECOMMENDATION.......................................................7
REFRENCES...................................................................................................................................9
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Topic - “Reforms in Corporate Governance and their impact on financial reporting quality”
CHAPTER 1: INTRODUCTION
Overview and Background of research
Corporate governance is seen as the system which includes processes, practices and rules
through which an organisation is controlled and managed. It basically concern about the interest
of stakeholders of specific company and it also tries to balance them effectively. The main
stakeholders of organisation includes government, employees, customers, financiers,
management, suppliers and the community. It can be said that directly or indirectly corporate
governance is related to each and every department of the company. Financial reporting is
termed as the procedure of communication in which information related to finance such as
financial statements are shared with the creditors and investors of company. It is essential for
every company to improve quality of their financial reporting in order to provide satisfactory
financial information to user so that they take right financial decision for company. In context to
part of finance department, it has been analysed that corporate governance impacts upon
financial reporting quality. This is because, a good corporate governance helps...,
The present research is based on International Financial Investment and Commerce Bank
Limited. The bank is popularly known as IFIC bank. It is commercial bank but still its majority
of share are owned by governmental authority of Bangladesh. IFIC bank was incorporated in
1976 and headquartered in Dhaka, Bangladesh. In few past years, it has been analysed that issues
related to default loans are arising rapidly in this sector. The main reason behind this situation
was identified as lack of good governance. The governor of Bangladesh have directly blamed
financial institution and banks that their non compliance of regulation is supporting increasing
number of default loans. This also becomes reason for weakness of stakeholders' confidence
particular investors. Therefore, it creates requirement for banking sector to reform their corporate
governance in order to overcome this issue and also reduce number of default loans in banking
sector. In this regard, top management team of IFIC bank have planned to conduct the present
research on reformation of corporate governance and its influence over financial reporting
quality. With reference to the present scenario, formulated aims and objectives for this research
are defined as below:
1