Money laundering control systems, external auditor specialization and tax haven use: An empirical analysis of U.S. multinational financial corporations

2021 ◽  
Author(s):  
Ahmed Al‐Hadi ◽  
Grantley Taylor ◽  
Grant Richardson ◽  
Baban Eulaiwi
Keyword(s):  
Control Systems ◽  
Empirical Analysis ◽  
Money Laundering ◽  
Tax Haven ◽  
External Auditor ◽  
Auditor Specialization

scholarly journals The Global State of Security in Industrial Control Systems: An Empirical Analysis of Vulnerabilities around the World

2021 ◽  
pp. 1-1
Author(s):  
Simon Daniel Duque Anton ◽  
Daniel Fraunholz ◽  
Daniel Krohmer ◽  
Daniel Reti ◽  
Daniel Schneider ◽  
...  
Keyword(s):  
Control Systems ◽  
Empirical Analysis ◽  
Global State ◽  
Industrial Control ◽  
Industrial Control Systems ◽  
The World

scholarly journals The Methodological Instrumentarium for Assessing Compliance Risks of Financial Monitoring of Banks

2020 ◽  
Vol 11 (514) ◽  
pp. 296-309
Author(s):  
I. M. Chmutova ◽  
◽  
O. S. Bezrodna ◽  
D. I. Nechyporenko ◽  
◽  
...  
Keyword(s):  
Control Systems ◽  
Money Laundering ◽  
Implementation Process ◽  
Risk Level ◽  
Characteristics Method ◽  
Analytical Research ◽  
Business Functions ◽  
Financing Of Terrorism ◽  
Integral Assessment ◽  
Financial Monitoring

The article examines the essence and directions of identification of compliance risks of banks. The criteria for assessing compliance risks of financial monitoring of banks are purported to be: the level of development of the compliance system; experience in applying influence measures to banks by the NBU for violation of the requirements of legislation in the field of prevention and counteraction to money laundering and financing of terrorism (in the form of written warnings and fines); operational risk level and staff turnover. The defined directions of assessment include result factors (taking into account cases of risk materialization) and the factors that make the compliance function implementation process uncertain. The sequence and methodological instrumentarium for assessing compliance risks of financial monitoring of banks are presented, which provides for: formation of a database for analytical research by means of digitization of data (using coefficient approach and binary characteristics method); consolidation of the results of computation of indicators for the integral assessment of the researched phenomenon (by building up a composite indicator by means of the weighted amounts method). Based on information on the activities of individual banks, which during 2014-2020 belonged to the category of systemically important, practical approbation of the developed methodological instrumentarium was carried out. Recommendations on minimization of compliance risks of banks in the field of financial monitoring are formed, including: improvement of intrabank control systems; ensuring uninterrupted work and thorough training of staff; introduction of operational algorithms of actions to identify the reasons for their involvement in the processes of money laundering; using a risk-oriented approach to test business functions; introduction of effective monitoring systems and expansion of the list of compliance risk management instruments.

scholarly journals The Planning for the Auditing Process in the Jordanian Commercial Banks from Perspective of the External Auditors

2019 ◽  
Vol 11 (7) ◽  
pp. 40
Author(s):  
Atef Aqeel Al-Bawab
Keyword(s):  
Control Systems ◽  
Internal Control ◽  
Commercial Banks ◽  
Analytical Approach ◽  
Arithmetic Mean ◽  
T Test ◽  
Audit Process ◽  
External Auditors ◽  
External Auditor ◽  
Audit Standards

The study aimed to identify on the planning for the auditing process in the Jordanian Commercial Banks from perspective the external auditors. The researcher followed the descriptive and analytical approach to collect the data, and the researcher used the questionnaire to know the opinions of the external auditors about the idea of the study. The descriptive measures, such as the arithmetic mean, also the (T-test) were used to test the hypothesis of the study. The most important results of the study was there is planning for the audit process in the Jordanian commercial banks and the external auditor examines all aspects of the Bank's activities and banking products which provide to the clients. As recommended by the study by the need to develop an audit plan that is consistent with audit standards and audit profession in the commercial banks of Jordan and The need to expand the work of questionnaires that examine the internal control systems in the banks.

Maltese elite will continue with dubious growth model

2018 ◽  
Keyword(s):  
Money Laundering ◽  
Financial Regulation ◽  
Financial Crime ◽  
Individual Investor ◽  
Content Type ◽  
State Institutions ◽  
Eu Member States ◽  
Tax Haven ◽  
Set Up ◽  
The Eu

Significance Malta is one of several EU member states recently involved in allegations of money laundering. Prime Minister Joseph Muscat is under pressure, not least in the European Parliament (EP), to demonstrate that state institutions can enforce the rule of law, protect the democratic process and provide robust financial regulation. There will be a period of greater international scrutiny on state corruption, in particular on Malta’s sale of citizenship under its Individual Investor Programme (IIP), potential for money laundering, status as a tax haven and online interactive gambling (iGaming) industry. Impacts The EU will delay any action until June for past cases of financial crime to be reviewed; the next Commission may have other ideas. The opportunity is being missed to devote more EBA staff to monitoring money laundering or set up an EU agency to deal with it. National authorities will continue to enjoy significant discretion in interpreting the rules against financial crime.

Multinationality, Tax Havens, Intangible Assets, and Transfer Pricing Aggressiveness: An Empirical Analysis

2015 ◽  
Vol 14 (1) ◽  
pp. 25-57 ◽  
Author(s):  
Grantley Taylor ◽  
Grant Richardson ◽  
Roman Lanis
Keyword(s):  
Empirical Analysis ◽  
Multinational Firms ◽  
Intangible Assets ◽  
Transfer Pricing ◽  
Data Availability ◽  
Tax Havens ◽  
Joint Effects ◽  
Tax Haven ◽  
Tax Benefits ◽  
The Individual

ABSTRACT This study examines the individual and joint effects of multinationality, tax havens, and intangible assets on transfer pricing aggressiveness. Based on a hand-collected sample of 286 publicly listed U.S. multinational firms over the 2006–2012 period (2,002 firm-year observations), the regression results indicate that multinationality, tax haven utilization, and intangible assets are significantly positively associated with transfer pricing aggressiveness. The regression results also show that firms magnify their international transfer pricing aggressiveness through the joint effects of intangible assets, multinationality, and tax havens. Overall, the empirical findings demonstrate that the utilization of tax havens and the level of intangible assets are economically important factors that assist firms in obtaining tax benefits through transfer pricing aggressiveness. Data Availability: All data are available from public sources identified in the paper.

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