• Journal of the Korea Institute of Information and Communication Engineering
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• v.18 no.3
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• pp.761-769
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• 2014

We propose an improved M-ISMS(Military-ISMS) model which is based on common ISMS model for regarding military's unique characteristics. Our model focuses on 'Internal Security Audit' and 'Management of external activity' as military circumstances. So, we added the six control new items as internal security audits. Because the confidentiality is more important than availability in military service as compared with private sectors. In addition, we propose some control suggestions for establishing security management standards and keeping level maintenance when it will becomes to lose a value as confidential. The M-ISMS model in this paper has effectiveness which prevents security incidents in advance rapidly throughout a variety of common ISMS's advantages and security incidents of private sectors in consideration of military characteristics.

• The Journal of Asian Finance, Economics and Business
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• v.8 no.7
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• pp.245-254
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• 2021

This paper examines the impact of corporate governance strength on capital structure in an emerging country, namely, Jordan, by constructing a corporate governance score that captures both internal monitoring mechanisms (foreign ownership and institutional ownership) and external monitoring mechanism (audit fees). In addition, this study uses profitability as control variable. This paper uses data of non-financial companies (industrial and services) of 87 listed firms on Amman Stock Exchange (ASE) from 2011 to 2019. Using the random-effects generalized least square (GLS) regression model, the findings reveal that foreign ownership significantly and negatively influences the level leverage, while institutional ownership has a positive and insignificant association with level leverage. Further, audit fees have a positive and strong significant association with level leverage in Jordan. In addition, profitability has a positive and significant association with leverage. These outcomes suggest that foreign ownership should be encouraged in listed companies as it can replace the weakness of other corporate governance mechanisms in Jordan. The outcomes of the current study should be of great interest to regulators and policy-makers. The results, which are robust to a range of alternative proxies and to additional tests, provide new insights into the determinants of level leverage.

• The Journal of Asian Finance, Economics and Business
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• v.8 no.8
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• pp.57-66
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• 2021

The outbreak of the financial crisis, the lack of corporate governance practices in Iraqi companies, the high level of earnings management (EM), and weak firm performance (FP) have all encouraged the purpose of this study. This study proposes to achieve the following objectives: (I) to investigate the influence of governance mechanisms on the earnings management practices, (II) to investigate the consequence of EM on FP. The study sample includes 65 Iraqi firms listed on the Iraqi stock exchange for six years from 2012 to 2018, with 390 firm-year observations. The hypotheses were tested using panel data regression. According to the findings, Iraqi companies prefer to use real EM rather than accruals EM to avoid reporting losses. Discretionary cash flow, production costs, and cash flow from operation are examples of actual operations employed to undertake EM. Furthermore, according to the findings of this study, board meeting frequency and female onboard have a significant and negative influence on EM. Besides, the internal audit function was found not to affect EM. On the other hand, results revealed a significant and negative relationship between EM and FP. According to the study, management prefers to minimize cash and accrual expenditure during the economic downturn.

• The Journal of KAIRB
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• v.2 no.2
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• pp.37-48
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• 2020

Purpose: The purpose of this study is to assess the operational status and level of understanding among IRB and HRPP staffs at a hospital or a research institute to the HRPP guideline set by the Ministry of Food and Drug Safety (MFDS) and to provide recommendations. Methods: Online survey was distributed among members of Korean Association of IRB (KAIRB) through each IRB office. The result was separated according to topic and descriptive statistics was used for analysis. Result: Survey notification was sent out to 176 institutions and 65 (37.1%) institutions answered the survey by online. Of 65 institutions that answered the survey; 83.1% was hospital, 12.3% was university, 3.1% was medical college, 1.5% was research institution. 23 institutions (25.4%) established independent HRPP offices and 39 institutions (60.0%) did not. 12 institutions (18.5%) had separate IRB and HRPP heads, 21 (32.3%) institutions separated business reporting procedure and person in charge, 12 institutions separated the responsibility of IRB and HRPP among staff, and 45 institutions (69.2%) had audit & non-compliance managers. When asked about the most important basic task for HRPP, 23% answered self-audit. And according to 43.52%, self-audit was also the most by both institutions that operated HRPP and institutions that did not. When basic task performance status was analyzed, on average, the institutions that operated HRPP was 14% higher than institutions that only operated IRB. 9 (13.8%) institutions were evaluated and obtained HRPP accreditation from MFDS and the most common reason for obtaining the accreditation was to be selected as Institution for the education of persons conducting clinical trial (6 institutions). The most common reason for not obtaining HRPP accreditation was because of insufficient staff and limited capacity of the institution (28%). Institutions with and without a plan to be HRPP accredited by MFDS were 20 (37.7%) each. 34 institutions (52.3%) answered HRPP evaluation method and accreditation by MFDS was appropriate while 31 institutions (47.7%) answered otherwise. 36 institutions answered that HRPP evaluation and accreditation by MFDS was credible while 29 institutions (44.5%) answered that HRPP evaluation method and accreditation by MFDS was not credible. Conclusion: 1. MFDS's HRPP accreditation program can facilitate the main objective of HRPP and MFDS's HRPP accreditation program should be encouraged to non-tertiary hospitals by taking small staff size into consideration and issuing accreditation by segregating accreditation. 2. While issuing Institution for the education of persons conducting clinical trial status as a benefit of MFDS's HRPP accreditation program, it can also hinder access to MFDS's HRPP accreditation program. It should also be considered that the non-contact culture during COVID-19 pandemic eliminated time and space limitation for education. 3. For clinical research conducted internally by an institution, internal audit is the most effective and sole method of protecting safety and right of the test subjects and integrity for research in Korea. For this reason, regardless of the size of the institution, an internal audit should be enforced. 4. It is necessary for KAIRB and MFDSto improve HRPP awareness by advocating and educating the concept and necessity of HRPP in clinical research. 5. A new HRPP accreditation system should be setup for all clinical research with human subjects, including Investigational New Drug (IND) application in near future.

• Management & Information Systems Review
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• v.34 no.2
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• pp.207-227
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• 2015

This study addresses and examines differences in firm value after tax audits by the Korean Internal Revenue Service. Tax audits can potentially depreciate a firm's value due to the mass cash outflow that often results from the additional tax charges involved. However, tax audits that reveal negative aspects of a business, such as excessive entertainment expenses, fraudulent accounting, or inappropriate business practices, may have positive effects on a firm's value, as the monitoring involved can improve accounting transparency and reduce agency costs. This study shows that there is typically an increase in a firm's value in the year after a tax audit has been conducted, in comparison with the previous year. This result suggests that firm value can increase after a tax audit is conducted, despite the possible value depreciation resulting from a mass cash outflow.

• Asia-Pacific Journal of Business
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• v.14 no.4
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• pp.255-273
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• 2023

Purpose - This study examines whether internal control has an effect on stock price informativeness about future earnings. High quality internal control provides continuous assurance for the quality of financial reports, and these future earnings-related information is accurately reflected in the current stock price. Design/methodology/approach - This study collected 12,862 data from 2006 to 2021 in China to make an empirical analysis using the future earnings response coefficient (FERC) and the multiple regression analysis were hired in order to analyze the data. Findings - We find that internal control strengthens the association between current returns and future earnings, indicating that more information about future earnings is reflected in current stock prices. This positive effect exists in both the main board market and the growth enterprise market of China's stock market, especially in the main board market after the implementation of the internal control policy. In addition, we find that the positive effect is weaker for firms that report internal control deficiencies or receives non unqualified internal control audit opinions. The results using earnings persistence yield similar findings, further supporting the results based on the FERC model. Research Implications or Originality - Our tests provide strong evidence that the quality of internal control affects FERC in China stock market.

• Journal of Internet Computing and Services
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• v.17 no.6
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• pp.123-131
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• 2016

Process mining in big data environment utilize a number of data were generated from the business process. It generates lots of knowledge and insights regarding implementation and improvement of the process through the event log of the company's enterprise resource planning (ERP) system. In recent years, various research activities engaged with the audit work of company organizations are trying actively by using the maximum strength of the mining process. However, domestic studies on applicable sales auditing system for the process mining are insufficient under big data environment. Therefore, we propose process-mining methods that can be optimally applied to online and traditional auditing system. In advance, we propose continuous monitoring information system that can early detect and prevent the risk under the big data environment by monitoring risk factors in the organizations of enterprise. The scope of the research of this paper is to design a pre-verification system for risk factor via practical examples in sales auditing. Furthermore, realizations of preventive audit, continuous monitoring for high risk, reduction of fraud, and timely action for violation of rules are enhanced by proposed sales auditing system. According to the simulation results, avoidance of financial risks, reduction of audit period, and improvement of audit quality are represented.

• Journal of Korean Society of Industrial and Systems Engineering
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• v.41 no.4
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• pp.160-170
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• 2018

This paper is an exploratory study on the success factors of Defence Quality Management System (DQMS) which is the certification system granted by the military for improving the quality of munitions. DQMS is established by adding military requirements to the ISO standard, thus, we especially focus on the additional requirements to figure out success key factors of DQMS certification. The 51 additional requirements of Korean Defense Specification (KDS) are empirically investigated from 67 companies that acquired DQMS certification. Firstly, we conduct an independent t-tests on 51 additional requirements of KDS 0050-900-3 to determine if there is a difference between an easily certified company and a hard-to-certify company, and obtain 8 requirements such as 'Internal propagation of performance', 'Preparation of documented work instructions', 'Work instructions in the workplace', 'Documentation of equipment management', 'Inventory management', 'Packaging and identification', 'Guarantee of access to internal audit result for customers', 'Notification to the customer for improper product.' Secondly, we carry out an factor analysis to the 51 additional requirements for classification, and figure out that 4 requirements among the 8 requirements above mentioned are grouped together in the same factor. The 4 requirements are 'Preparation of documented work instructions', 'Work instructions in the workplace', 'Packaging and identification', and 'Guarantee of access to internal audit result for customers.' The result of this paper will provide useful information to the company preparing for DQMS.

• The Journal of The Korea Institute of Intelligent Transport Systems
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• v.7 no.4
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• pp.97-106
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• 2008

This proposed system is a part of internal control system that national highway need to support their ITS information audit. This paper explains the design and implementation of a packet interceptor and a DB query analyzer. The packet interceptor sniffs users' query packets, and then the DB query analyzer parses the SQL queries and stores the users' DB access information such as SQL queries, access data and changing data. The information may be used as the evidences on internal control of users and users' accesses.

• International Journal of Advanced Culture Technology
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• v.8 no.4
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• pp.8-17
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• 2020

This study aims to draw up comprehensive ethical management practices so that companies can be reborn as high-quality companies not only at the level of management efficiency but also at the level of corporate integrity. -The main focus of in this study is as follows: To curb corrupt practices in the corporate sector, it is necessary to strengthen the monitoring function and accountability system of audits (internal audits, full-time audits, audit committees, external audits). In order for these system improvements to be made reliably, it is necessary to periodically measure and evaluate employee satisfaction with the overall personnel system.