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The purpose of this study is to examine both accruals and real earnings management in a large sample of private companies in the UK using data from 2002 to 2009 following the implementation of the UK Act of 2006.

A panel data analysis using GMM has been adopted to examine the objectives of the study and answer the research questions.

The results of this study showed that the imposition of the Companies Act of 2006, on its own, did lead to changes in earnings management behaviour, in both accruals-based earnings and real earnings management. Moreover, this study also found that firms that chose to provide IFRS financial statements tended to show less discretionary earnings management, however, it tended to have no impact on real earnings management.

In accordance with the research findings, standard setters with some insight tend to determine how capital markets see the information provided under the legislation such as the UK Act of 2006 in developed countries and thereby ensure long-term sustainability in a modern and sophisticated financial world. This study provides an insight into the successful implementation of the UK act of 2006, and its influence on the aspect of financial reporting.

The novel conclusion reached in the study is that there exists a strong and direct link between the smooth implementation of UK Act of 2006 and the practices of both accruals and real earnings management in real-world business and financial scenarios, particularly, in private companies.

Many factors contribute to public rail transit use in an urban network. However, a dysfunctional relationship between the built environment and the transport system significantly deters such use. Architects, urban designers, town planners and policymakers must understand the factors that promote or deter pedestrian use of the urban environment.

The paper investigates four connectivity and walkability factors for three different metro stations in Doha, Qatar: Al Aziziyah, Hamad Hospital and West Bay. The analysis includes pedestrian sheds, block sizes, ground-level land uses and connectedness in the urban spatial network based on catchment contour maps using space syntax.

The results indicate the three metro stations and neighborhoods are representative of diverse type of neighborhoods in Doha: relatively compact but expansive for the Hamad Hospital Station area, metrically and topologically restrictive due to the poor planning and the peninsular location of the reclaimed land in the West Bay area, and expansive, shallow and reliant on attraction for the Al Waab transportation corridor associated with Al Aziziyah Station.

Time factors and temporary closure/capacity reductions due to the global pandemic restricted planned efforts to collect more pedestrian use data based on passive observations and preference choices using surveys during the study. Nonetheless, adapting the investigation to the circumstances produced significant findings.

The analysis can help us develop better guidelines and diagnostic tools to calibrate design and planning strategies promoting more walkable, healthy and sustainable neighborhoods.

The study is original due to examining stations of the new Doha Metro for the first time. However, it relies on well-established representational techniques in urban morphology and space syntax research.

The aim of this study is to conduct an initial investigation of information sharing between the vast number of expatriate employees and the small minority of local employees in Dubai’s private sector workforce. Research on the impact of the workforce localization policy has highlighted the frequent marginalization of locals within the expatriate-dominated private sector. One form of this is the reluctance of expatriates to share information with local recruits, and the authors conducted this study to assess the reality and extent of this phenomenon.

The authors designed a brief interview survey to probe how Emirati employees secure workplace information and whether they experience information withholding on the part of expatriate colleagues. The authors also explored whether any such experience impacts on their attitudes to working in the private sector since this is a key factor in the success of the localization policy. Complete responses were received from 0.9 per cent of the total local private sector workforce.

A notable lack of information sharing emerged with 58 per cent of respondents reporting their expatriate colleagues’ and superiors’ reluctance to share information with them, and 63 per cent describing experiences of discriminatory behavior.

The authors identify key cultural and communication issues relating to localization within Dubai’s multicultural workforce. These include the broader cultural factors that determine how Emiratis conceptualize information sharing. Future research can pursue this issue to help inform the development of supportive information sharing practices. Such practices are an essential part of the creation of a diversity climate, which is necessary to sustain localization.

This study is a pioneering attempt to empirically investigate the information sharing practices that Emirati private sector employees experience. It suggests that the exclusion of citizens from the workplace through practices such as “ghost Emiratization” reverberates in the workplace through a lack of information sharing.

Morocco is an expanding developing economy in North Africa with increasing bilateral trade relations with larger economies. This paper aims to examine the features of the expanding market economy and the preceding structural reforms initiated by King Mohammed VI. The paper’s primary focus is to study the systematic feature of anti-money laundering and combatting of terrorist financing (AML/CTF). Morocco has emerged as a staunch opponent of terrorism and terrorist financing while garnering joint-investigative operations with European countries against transnational organised crime and money laundering.

The paper is divided into two primary series. The first is a view of Morocco’s economy, with a qualitative analysis of significant economic, political and social structural reforms. Second, a qualitative and quantitative analysis of Morocco’s AML and combating of terrorist financing infrastructure is assessed. The qualitative analysis is conducted in two parts; first, by studying the country’s AML/CTF legislation and regulation, and second, by examining the independent international evaluation of the legal structure and its implementation by authorities. The quantitative analysis is conducted by investigating the available statistics relating to money laundering and terrorist financing.

The paper finds Morocco to have accomplished essential economic reforms, especially considering greater institutional management and autonomy. Other structural reforms include the reformation of the constitution, a more comfortable business climate, social development projects focusing on enhancing skill labour and connectivity and the development of strong trade capacity. The primary objective discovery concerns the country’s AML/CTF structure, which is found to comply with international standards. Also, efforts enhancing the country’s regulatory environment with low corruption, low risk of money laundering and low risk of terrorist financing have been taken in a series of legislative amendments and programs. The banking sector and Morocco’s Customs agency have reflected the best improvement as per the study in this paper.

Morocco is witnessing high levels of investment, with year-on-year growth in most existing industrial sectors. The market is also providing for new skilled labour and better trade incentives with the European Union. It is essential for investors, observers and policymakers to understand the market economy reforms and systematic deficiencies in a developing economy. Morocco presents observers with information about policies pre-reform, providing a guide for economic and AML/CTF policy implementation elsewhere.

The paper concerns itself with two levels of analysis concerning Morocco. The first, broad study, is a review of market economy reforms, which are mostly structural and have assisted in the expansion of the economy greatly. The second objective is specific to examining the country’s AML/CTF structure, which has undergone significant development in legislation, regulation and implementation in the past decade. The paper makes a specific attempt to discuss associate indicators to the AML/CTF network as a part of this study.

This paper uses a case study approach using the Permanent Sub Committee on Investigations (PSI) report on HBUS to determine where gaps in anti-money laundering (AML) regulation and compliance are within the banking sector.

The PSI highlighted five areas of serious weakness and fundamental flaws in the HBUS AML risk assessment. This paper examines the governance response that led to these weaknesses and applies a rationale decision-making theoretical framework to explain it.

The report found that corporate culture and attitude at the governance level were key factors in the difficulties that HBUS faced.

This paper focuses on one case, albeit one of the largest banks in the global banking sector. Although generalisations are limited, the report does highlight areas to consider with all banks.

The implications that are identified are aimed at banks and auditing firms that have to work alongside governance structure within banks. The role of internal audit is raised and has future implications for how risk assessment is undertaken and how AML compliance frameworks are devised and reported on.

A stronger social corporate responsibility attitude is suggested that considers the wider social impacts of supporting criminal transactions, even inadvertently, by inappropriate and under-resourced AML risk-assessment frameworks.

The detailed analysis of one case that considers the governance response to AML regulation is new in this paper, and the detailed recommendations for improving and developing stronger AML risk-assessment frameworks apply to the banking, financial services and auditing professions.

The State of Kuwait operates a US$110bn economy and serves as an integral part of the global energy trade, holding over 9% of the world’s oil reserves. In addition, Kuwait is making attempts to open its economy, working towards domestic diversification. This paper aims to understand Kuwait’s internal financial protection mechanisms and their compliance to international standards. It is imperative to understand Kuwait’s legal and regulatory system that combats money laundering and terrorist financing concerns, which further extends to the region’s security discourse. This paper focuses on the State of Kuwait’s internal efforts to propel anti-money laundering/combating terrorist financing (AML/CTF) measures, and further evaluate these measures with respect to international evaluations.

Anti-money laundering and combatting terrorist financing mechanisms require a layered analysis to understand the legislative and bureaucratic organization of enforcement. Further, these measures, taken within the domestic framework, must be compared to international standards, and thus taken into account by observers. This paper studies Kuwait AML/CTF mechanisms by studying the country’s legislation, regulation and implementation. The country’s legislation will offer insight into the basic foundation of the country’s stance against money laundering and terrorist financing. Kuwait’s regulation against money laundering/terrorist financing (ML/TF) will represent the enforcement mechanisms and risk-assessment tools mandated by the independent regulatory authorities. Finally, the country’s enforcement levels will provide a deeper understanding of the country’s systemic approach to successfully combatting ML and TF activities. In addition, this paper also studies international evaluations that present an independent and factual view regarding Kuwait’s AML/CTF structure and its implementation.

Following a thorough examination of primary and secondary literature, this paper finds the State of Kuwait to have taken significant steps in implementing recommended legislative and regulatory mechanisms. The paper found significant strategic deficiencies within internal mechanisms pre-2014, which have been largely resolved in the state’s ex post approach to the Financial Action Task Force’s recommendations. There is also evidence of an improving enforcement mechanism in the state’s recent efforts in reducing exposure to ML and TF risks. However, the paper finds certain “strategic deficiencies” within the country’s internal reporting and external publishing administration.

The State of Kuwait is an important member in the route to regional stability and security in the Middle-East and Arabian Gulf region. Kuwait’s northern border abuts with Iraq, and connects the country with the rest of the Middle-East. The upward regional instability could create internal security risks for Kuwait. In addition, the State of Kuwait has taken the onus, in addition to the Sultanate of Oman, to mediate the diplomatic lapse between members of the Gulf Cooperation Council. The aforementioned positions ascertain a need to examine, and further recommend measures that promote a strong regional financial system.

This paper finds the government of Kuwait to have taken major steps to create a framework that is parallel to international standards. However, there have been significant delays in activating and implementing several regulatory procedures. The delay of certain procedures has since been rectified by the state. This paper presents a comprehensive qualitative analysis of the country’s legislative, regulatory and enforcement structures and further evaluates the internal performance.

This paper uses the recent (August 2015) FIFA arrests to provide an example of how illicit financial flows are occurring through the formal banking and financial services sector. The purpose of this paper is to explore which elements of anti-money laundering (AML) compliance need to be addressed to strengthen the banking response and reduce the impact of IFFs within the banking sector.

The paper is based on the indictment document currently prepared for the FIFA arrests and the District Court case of Chuck Blazer the FIFA Whistleblower. It uses the banking examples identified in the indictment as typologies of money laundering and wire fraud. Corresponding industry reports on AML compliance are included to determine where the major weaknesses and gaps are across the financial service.

The main findings from the analysis are that banks still have weak areas within AML compliance. Even recognised red flag areas such as off shore havens, large wire transfers and front companies are still being used. The largest gaps still appear to be due diligence and beneficial ownership information.

The research topic is very new and emerging topic; therefore, analysis papers and other academic writing on this topic are limited.

The research paper has identified a number of implications for the banking sector, addressing AML deficiencies, especially the need to consider the source of funds and the need for further enhanced due diligence systems for politically exposed and influential people and the importance of beneficial ownership information.

This paper has implications for the international development and the global banking sector. It will also influence approaches to AML regulation, risk assessment and audit within the broader financial services sector.

The originality of this paper is the link between the emerging issues associated with allegations of bribery and corruption within FIFA and the illicit financial flow implications across the banking sector.

This paper aims to consider the role of internal audit function (IAF) in relation to anti-money laundering (AML) compliance and oversight within global banking. The increasing globalisation of banking functions and the mirrored globalisation of financial crime require a renewed look at the role of internal audit. This paper critically examines the weaknesses in the current structure and proposes a new way of thinking about IAF.

The paper uses secondary data to analyse the current problems with IAF from both theoretical and empirical perspectives. The agency dilemma of answering to two masters in the audit committee and management and the problems associated with this in the context of recent AML cases against banks are discussed.

The main findings are that a new approach to internal audit is required that can operate effectively within a globalised banking and regulatory context, especially for AML compliance issues. A suggested approach is to develop regional audit committees and remove the internal stakeholder dilemma that is problematic to the IAF.

The paper focused primarily on the AML context, and IAF may have other functions within the bank. However, the theoretical and practical problems are equally as applicable to other areas of work.

The implications from the paper are the recommendations on restructuring the function of internal audit, especially its role within management and governance, given the impartiality and objective role that it is supposed to perform.

The originality of this paper is the analysis of IAF within an AML context and the recommendation to reconsider the IAF role within a globalised banking service of the future. This has been suggested within a growing globalised criminal context, where money laundering is a reality and the complexity of this crime is increasing throughout the world.

This paper aims to examine the current challenges that banking counter-terrorism financing (CTF) regulation faces in the fight against global terrorism. The paper examines the potential impact on the banking sector of the current civil cases that have been taken against several of the leading global banks by victims and their families.

The paper reviews current academic thinking on CTF regulation and analyses these in context of several legal challenges that have been made against some of the larger global banks, including, HSBC, the Arab Bank and NatWest.

The paper finds that current approaches towards CTF compliance are no longer a viable option for banks, as court cases have found that additional factors need to be included in risk assessment frameworks. The main finding is that risk-based approaches need to find ways to incorporate local intelligence into their risk systems and that banks can no longer rely on basic tick box compliance measures.

There are implications for the banking and regulatory sectors developing anti-money laundering /CTF policies. There are also legal implications for the banking sector who may be seeking to defend accusations of supporting terrorism.

The paper’s originality is that this level of analysis of CTF regulation using legal case studies has not been followed before.

This paper aims to discuss whether most anti-money laundering (AML) risk assessment strategies within the banking and financial services sector are reactionary focused and/or whether it should be possible to predict where increased costs and resources need to be targeted in future AML risk processes.

The paper reviewed research findings from the researchers own study on trade-based money laundering (TBML) and also survey results from the KPMG Global Anti-Money Laundering Survey (2014), along with academic discussion papers.

The paper concluded that risk assessment strategies were still largely responsive, and this left banks exposed to two factors – not recognising risk that they were not assessing for and, second, being challenged legally as new cases emerged in the court systems from victims of ML and terrorism crimes.

The practical implications affect the resources and costs assigned to risk assessment strategies and called for a more holistic approach that was forward thinking from the bank’s perspective rather than reactionary focused and working from the regulators’s agenda.

Any improvements in detection of AML and counter-terrorism financing has broader social outcomes.

The originality is the subject matter of AML risk assessment strategies and the input from TBML/AML experts from across the globe that contributed to the author’s research survey and interviews. These results have been analysed along with other research and the current academic discussion on this topic.