Digitization and Blockchain in Finance, The Netherlands in 2020 and 2021

The exploratory research in 2020 received a lot of attention in trade journals in the Netherlands and in the international context of academic journals, webinars and conferences. This led to this research in 2021, including a reorientation on the structure of the research. Due to the further development of the faculty in 2020 and 2021, the questions from the research were further professionalized, peer reviewed by experts and supplemented. In addition, it is interesting and scientifically important to place the research more in both a national and international perspective, both with regard to professional groups and with regard to other studies, such as that of Controllers Magazine, After various inventorying discussions at the end of 2020, whether or not at the request of the stakeholders, this led to a reorientation on the conducting of the research. At the beginning of 2021, the study was therefore extended almost simultaneously to: (a) all members of the Working field commission (Werkveldcommissie; WVC) of the Accountancy (AC), Finance, Tax and Advice (FTA, formerly Fiscal Law and Economics) and Finance & Control (FC) programmes of the Academy of Finance, Economics and Management (FEM) at Saxion University of Applied Sciences, (b) all members of the foundation of collaborating chartered accountants and accounting and bookkeeping firms (SRA), a network organization of 375 independent audit firms with 900 branches in the Netherlands, and (c) international sister universities of Saxion University of Applied Sciences.

The centrality of ethical utterances within professional narratives

This study examines the centrality of ethics within editorials published in the Canadian Institute of Chartered Accountants’ professional journal, CA Magazine, over the 1912 to 2010 period. Starting from the twin assumptions that editorials speak about appropriate professional behavior using a variety of words such as ‘ethics,’ ‘conduct,’ and ‘codes,’ and that appropriate professional behavior is situational, we use topic modeling techniques to identify these dimensions of ethical discourse. We then use social network analysis methods to map the position and centrality of ethics within the editorials across time. The results show that enunciations about appropriate professional conduct are broader than simply enunciations using the word ‘ethics’. The results also highlight that ethical utterances become more central, not less central, over time.

The Meaning Of "Accounting" In a Religious-Based Organization Context

Accounting, traditionally, had been caught up in understanding as a rational set of procedures for economic decision making (Williams & Ravenscroft, 2015; Staubus, 2000; Puxty & Laughlin, 1983). This approach is popular as the objective of the IASB framework. It has been accepted in many developing countries, including Indonesia which has fully adopted Western accounting practices (Mulawarman, 2011). Besides, a standard-setting board, the IAI (Institute of Indonesia Chartered Accountants), considers accounting to be neutral and applicable anywhere. Indonesian Islamic boarding schools, for example, have been forced to use conventional accounting. Even though, conventional accounting is irrelevant to apply in Indonesian Islamic boarding schools because it was created and used by capitalist Western societies (Kamla & Haque, 2017; Velayutham, 2014; Napier, 2007; Baydoun & Willett, 1995). We believe that the key to understanding accounting lies in the individual, namely "I" who implements accounting. Thus, to examine how the experiences of "I" shape their perceptions of accounting, this paper seeks to understand the meaning of "accounting" in a religious based organization: Indonesian Islamic Boarding Schools. Keywords: Accounting, Indonesian Islamic Boarding Schools, Transcendental Phenomenology

Chartered accountancy and resistance in South Africa

In recent times, the chartered accountant profession was regularly in the news for reasons pertaining to the unethical and unprofessional behaviour of members. The profession has an important role to play in the South African economy, as members will often fulfil important decision-making roles in business. In a response to the dilemmas the profession is facing, we analysed the implications for the profession and society due to a resistance to include research as a pedagogical activity in the chartered accountancy educational landscape. Through deliberative research activities, students have the opportunity to engage with community members and with societal challenges that could foster reflexivity and humaneness in students. In addition, critical and problem-solving skills are cultivated. These are skills that are difficult to assess in the form of an examination, and the absence of research as pedagogical activity in this particular educational landscape, impacts the cultivation of these skills in future chartered accountants. This is so, as the chartered accountancy educational landscape is significantly influenced by the power that resonates within the profession and culminates into the disciplinary power mechanism of the examination. The South African Institute of Chartered Accountants (SAICA) set an external examination, called the Initial test of Competence (ITC), which graduates need to write upon leaving institutes of higher learning. Success in this SAICA-examination therefore impacts on the teaching and learning pedagogy adopted by chartered accountants in academe. If chartered accounting students were instead primarily being exposed to technical content assessed via an examination, also being exposed and introduced to deliberative research, the possibility exists that students, through critical reflexivity, could move beyond the constraints of the self to that of the communal other in line with the African notion of ubuntu can be enhanced.

Factors that influence learners’ performance in grade 12 Accounting: A case study in the Northern Cape

This article explores the elements that contribute to the poor performance of grade 12 learners in Accounting. As far as Accounting as a school subject in South Africa is concerned, there is a growing concern about the underperformance of learners, due to both a decrease in learners who enrol for the subject in grade 12 and the low pass rate in the National Senior Certificate examination. Existing research points out that fewer students elect Accounting as a grade 12 subject and that the performance of these students is below the average pass rate when compared to other subjects. This article employed as research methodology a qualitative case study in which interviews were used to collect data. Based on the case study conducted in the Frances Baard District Municipality in the Northern Cape, this article identifies critical factors that contribute to the underperformance of learners in grade 12 Accounting. Addressing these factors may contribute to the improvement of the performance of learners in Accounting. This is relevant for South Africa, which is experiencing a serious shortage of chartered accountants and other financial and auditing professionals.

EFFECT OF NON-AUDIT SERVICES ON AUDITOR’S INDEPENDENCE: EVIDENCE FROM ACCOUNTING PRACTITIONERS IN ABIA STATE

This study investigates the effect of the provision on non-audit services on Auditor’s independence: evidence from accounting practitioners and consequent effect on the auditor’s objectivity and professional skepticism in the financial statement audited. The study used the Institute of Chartered Accountants of Nigeria (ICAN) and Association of National Accountants of Nigeria (ANAN) domiciled in Abia State. The data for the study were generated from primary source: questionnaires were the major instrument for data collection. The instrument was subject to both content and faces validity by experts. Three questions were structured in Likert scale form and the formulated hypotheses were tested with ordinary Logistic regression using SPSS package. The study found that non-audit services have no effect on auditor’s independence, the auditor’s objectivity and professional skepticism. The study therefore recommends that the audit committee should have full oversight of the auditor’s independence, including the nature and extent of the work they do and their fees. The audit committee should make its charter public. The charter should give investor information about how the audit committee chooses its auditors and how it decides the type of service they can provide.

Economic Crisis and Professions: Chartered Accountants in Zimbabwe

This study examined the effects of a declining economy on the profession of chartered accountants (CAs) in Zimbabwe. The study adopted a qualitative approach using a pragmatic grounded theory design. Primary data were obtained through in-depth interviews with five purposively sampled CAs and two key informants drawn from the professional body and an institution that trains CAs. Furthermore, secondary data were drawn from the professional body’s archives and from newspapers. Data from interviews and documents were analyzed through thematic analysis and content analysis, respectively. The study has revealed that the profession of CAs has been changing in response to the declining economy and the changes include losing its status and autonomy, increased competition from other accounting fields and compromised professional standards. It also emerged that professionals themselves engage in both negative and positive activities that enable them to survive the effects of a declining economy. Recommendations are provided for the professionals and the professional body in dealing with the impact of a precarious economy.

The Institute of Chartered Accountants of India V/S National Financial Reporting Authority

In India traditionally accounting and audit related standards are regulated by The Institute of Chartered Accountants of India (ICAI). The ICAI was established to set a code of conduct that needs to be followed by all the professional accounting practitioners including auditing firms. ICAI working as an autonomous institution under Government of India, but Government has set up another regulatory body calledNational Financial Reporting Authority (NFRA)over ICAI for recommendations to the Central Government on formulating high-quality accounting standards and auditing polices, which mandatorily adapt by companies or auditors. NFRA is given complete power to regulate &control audit practices. Howeverone can observe that there are two equivalent organisation operating with the same objective which may create more bureaucratic hurdles in the system.

Generic skill profiles of future accountants and auditors – moving beyond attributes

PurposeThis study investigates perceptions regarding generic skills future entry-level accountants and auditors will require. Such soft or pervasive skills are necessary to operate effectively in the future world of work. Prior research mainly explores generic skills from an attribute-based perspective, while this paper combines it with an activity-based perspective in generic skill profiles of accountants and auditors.Design/methodology/approachFollowing a mixed methods research approach through focus group discussions and a survey involving more than 3,000 professional accountants and/or auditors, the study uses data from the Southern African region (South Africa, Zimbabwe and Namibia) to determine views on the competency needs of future accountants and auditors. An exploratory factor analysis was conducted to determine whether categories of generic skills for future entry-level accountants and auditors differ.FindingsFour generic skills factors emerged as essential for future entry-level chartered accountants (CAs): digital, decision-making, organisational and business acumens. Three generic skill factors emerged for future registered auditors (RAs): digital, practice and commercial acumens. The results show that generic skill profiles of CAs and RAs, who are members of an accounting body differ and that both the context, related to an activity-based perspective, and individual or internal abilities, related to an attribute-based perspective, matter.Research limitations/implicationsThe study extends generic skill theory by identifying broad categories of generic skills (referred to as acumens) for future accountants and auditors.Practical implicationsInsights from this paper facilitate a comprehensive understanding of the generic skill profile approach, combining attribute-based and activity-based perspectives, and this could assist accounting educators, practitioners and professional bodies to better prepare entry-level accounting and audit professionals for the workplace.Originality/valueThe study identifies broad categories (digital, decision-making, organisational, business, practice and commercial acumens) within generic skill profiles of CAs and RAs and shows that generic skills do not operate independently and should be viewed as an interdependent set or constellation of competencies.

Suitability of forensic accounting in uncovering bank frauds in India: an opinion survey

Purpose Economic robustness is the heart of any country’s prosperity. It is no wonder that economic progression is a crucial force that keeps a nation rolling on its wheels. As economic well-being is such an important piece in the jigsaw of a country’s health, economic shocks must be kept at a bare minimum. India in recent years has experienced various banking failures and scams that put the financial system at stake and crushed investor confidence. There are examples aplenty of banks collapsing because of siphoning and diversion of funds in risky propositions that ultimately put the depositors and financial institutions at the receiving end. As per Reserve Bank of India’s latest annual report, it has been reported that there have been bank frauds worth a whopping Rs 72,000 crore in the financial year 2019. Therefore, this study aims to obtain the perception of Academicians and Practitioners regarding forensic accounting’s suitability in uncovering bank frauds. Design/methodology/approach A strategically constructed Likert scale questionnaire was designed to obtain perception of Academicians and Practitioners regarding forensic accounting’s suitability in uncovering bank frauds. The analysis was performed by applying the “non-parametric test” on the data gathered from the questionnaire. Findings By testing the relevant hypotheses, it has been found that insiders working in the bank team up with outsiders in perpetrating fraudulent activities resulted in bank failures, that both forensic accountant and traditional accountant were different from each other and that adoption of forensic accounting in India will aid regulatory authorities in doing their job more efficiently. Research limitations/implications This study uses purposive sampling, as it only takes the perception of college and professional course students (chartered accountants/company secretary/certified management accountant) and teachers having knowledge in accounting which made sample size quite small (156). This study only covers frauds that were conjured in the banking industry and hence does not touch upon scams that occurred in other financial institutions. This study is confined to Indian banks only. This study uses an opinion survey to ensure the suitability of forensic accounting in uncovering bank frauds. Originality/value The originality of this study has been checked through Turnitin plagiarism software in which the similarity was 8%.