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This paper aims to analyse the Financial Intelligence Units (FIUs) of Canada, Australia, The Netherlands and India, focussing on key internal and external processes, such as the exchange of information, operations and compliance with Financial Action Task Force (FATF) recommendations. The paper relies on secondary sources to compare and assess the practices and strategies employed by FIUs within these jurisdictions.

The paper relies on secondary sources to compare and assess the practices and strategies used by FIUs within these jurisdictions.

The ability to combat money laundering and the financing of terrorism (AML/CFT) in countries is influenced by several internal and external factors, including the efficiency of their FIUs’ and compliance with FATF recommendations. The analysis of FIUs across the countries demonstrates a raft of multifaceted challenges and concerns. Yet, when it comes to compliance with FATF’s recommendations, shared concerns emerge, hinting at the complex interplay between country-specific operations and global compliance standards. The paper recommends enhancements to the FIUs’ operational efficiency and overall effectiveness in combating financial crimes.

The paper’s findings are limited to openly available data (such as annual reports and internet sources) for the respective countries. The paper relies on the transparency of FIUs through public media, focusing on comparing and analysing the FIUs of only four specific countries, which limits the generalisations of the findings.

This paper is significant for policymakers and FIU authorities, as they strive to improve the effectiveness of their units and assess their performance in alignment with international standards. The comparative analysis of the FIUs of India, Australia, Canada and The Netherlands provides valuable insights and recommendations that can inform policymakers and operational strategies towards enhancing how FIUs function globally.

This paper offers a unique comparative analysis of the FIUs of India, Australia, Canada and The Netherlands. Its findings have practical implications for policymakers and FIU authorities towards enhancing performance against international AML/CFT standards and promoting global cooperation.

This study aims to investigate which configurations of organizational-level and group-level management controls support an identity fit for management accountants in the management accounting profession. It aims to complement recent qualitative management accounting research. This stream just begun to use role and identity theory to investigate role expectations, conflicts and coping strategies of management accountants when they struggle with their work identity.

Based on configuration theory, this study uses a fuzzy-set qualitative comparative analysis to indicate all possible configurations of formal and informal management controls that improve management accountants’ sense of their identity in an organization. The analyses are based on the results of a cross-sectional survey of 277 management accountants from Germany, Austria, Switzerland and Liechtenstein.

The results show that a strong group culture and high psychological safety at the group level are relevant conditions for a high identity fit. Further, the configurations differ regarding the career stages of management accountants.

This study contributes to work identity research of management accountants and to research on formal and informal control configurations as a control package. It is of particular importance for various professions that are affected by role change, as from the findings on management accountants’ identity fit, implications can also be made for other organizational functions that need to engage in identity work.

This research investigates the types of critical business situations worked on by multinational corporations' senior managers and the competencies they employ to achieve desired outcomes.

The research is based on a database of N = 440 critical success incidents obtained from semi-structured interviews with a sample of 143 senior managers during competency-based consulting projects over a 25-year period from 1995 to 2019. Content analysis was used to categorise critical success incidents, by similarity of business intent, into groups labelled as critical business situations. Behavioural coding was used to identify competencies.

Nine critical business situations were found, and 10 competencies identified, accounting for 79% of behaviours displayed by the senior managers. Five competencies were found to be used more universally and five were more dependent on the specific critical business situation.

This research provides an overview of the initial stage of this topic. Further empirical validation including applicability in contemporary business contexts, testing of competency relationships with critical business situation criterion-referenced outcomes, and temporal and geographic usage will be presented in an accompanying study.

Knowledge of the specific competencies and their relative frequencies when displayed in different critical business situations provide the potential to give more targeted development suggestions to senior managers facing similar situations.

This study examines concurrently, both the business situations and associated competencies of senior managers, a group for whom extant research is significantly limited.

The implementation of the Directive 2015/849 of the European Parliament and of the Council of 20 May 2015 on the prevention of the use of the financial system for the purposes of money laundering or terrorist financing resulted in the enactment by the Polish Parliament of the Act of March 1, 2018, on the prevention of money laundering and terrorist financing. One of the most important issues identified in the Act was the establishment of the Central Register of Beneficial Owners. The purpose of this paper is to critically analyze the functioning of the Register in Poland from the perspective of three years since its establishment. The text presents the most important problems faced by reporting institutions and obliged entities due to discrepancies in the interpretation of the Act’s provisions – especially in terms of the definition of a beneficial owner.

The basic research approach was a comparative content analysis method. The objects of analysis included Polish Laws, Directive of the European Parliament and the Council (EU) 2015/849 and the judgment of the Court of Justice of the European Union. The theoretical legislative assumptions contained in the Acts were compared with reports, studies and communications prepared by public and private institutions. This made it possible to draw conclusions regarding the causes of problems with the functioning of the Register in Poland.

The results of the research showed that the ambiguity of the definition of the beneficial owner leads to a number of problems on the part of reporting institutions, such as companies, foundations and associations. On the other hand, a large part of the data entered in the Register is questioned by obliged entities. The lack of personal data protection is also a problem. Consequently, this reduces the value of the Register as a tool that effectively mitigates the risk of money laundering.

The research focused only on the functioning of the Central Register of Beneficial Owners in Poland. The subject of the analysis addressed problems with the definition of beneficial owner, issues of data quality and openness and the process of verifying the Register’s data. The technical aspects of the Register operation and the financial penalties imposed by public oversight institutions were not reviewed. Also, no comparison was made with other European Union (EU) member states that have implemented Directive of the European Parliament and of the Council (EU) 2015/849.

This study discusses the important issue of regulatory requirements introduced under EU regulations for private companies. Familiarization of companies, NGOs and obliged entities with the conclusions of the study can positively influence the consolidation of the correct interpretative path. In addition, to the best of the author’s knowledge, this is the first scientific text that identifies and systematizes the most important problems of the Register’s functioning in Poland.

The purpose of this paper is to examine whether and how chair-chief executive officer (CEO) generational difference is related to debt financing.

This paper adopts the pooled ordinary least squares and system generalized method of moments estimation procedures to analyze listed firms in Malaysia from 2013 to 2017.

The results reveal that chair-CEO generational difference is negatively associated with leverage. The evidence suggests that substantial age gaps between the chair and CEO precipitate cognitive conflicts, which lead to better monitoring and control. This results in better governance and less information asymmetry, causing firms to depend less on debt as a board monitoring mechanism. The findings provide support to the theory posited in this paper on the substitutability of chair-CEO generational difference and debt financing.

This is the first attempt to investigate the substitutability of chair-CEO generational difference and debt financing.

This study aims to conduct a review and analysis of the literature on Shariah audit compliance by examining the difference between internal and external auditors, the scope of internal Shariah audits and the qualification of Shariah auditors.

The current study used content analysis and the descriptive approach to achieve the main objective of the study. To ensure that Islamic Financial Institutions’ (IFIs) practices preserve Shariah principles and values when providing Shariah-compliant products and services, this audit will be used to supervise and monitor the operations of IFIs. The main goal of Shariah compliance auditing is to protect the interests of IFIs stakeholders, including account holders, shareholders, creditors, management and employees, as well as the general public while ensuring that the mechanisms of checks and balances in place are appropriate and tailored to the goals and missions of its establishment following the Maqasid Al-Shariah.

The findings of this study attempt to contribute to the body of knowledge surrounding Shariah audit compliance by advising IFIs on the value of Shariah compliance auditing in addressing the needs of its stakeholders. As a result, the benefits of Shariah compliance audits will be maximized, and future legislative changes will be implemented to reduce or completely remove the risk of Shariah’s failure to comply.

This research advises IFIs on the usefulness of Shariah compliance auditing in addressing the demands of its stakeholders to add to the body of knowledge on Shariah audit compliance. Moreover, all parties involved to take action to reduce the gap that will significantly affect stakeholders’ confidence, particularly concerning the Shariah compliance of the IFIs’ products and services on their operations and activities.

The advantages of Shariah compliance audits will thus be maximized, and future regulatory improvements will be made to lessen or eliminate the danger of Shariah noncompliance.

For over a decade, fintech has challenged traditional business models and processes in the financial services industry. The ongoing disruption has necessitated the digital transformation of financial institutions (FIs) to remain an integral part of the financial system. This paradigm shift is not merely a technological update. Still, it signifies a cultural and operational rebirth, compelling FIs to embrace innovation, adaptability, and a customer-centric approach in the digital era. Independent of the business model, FIs must become digitally ambidextrous, offer tailored and dynamic customer experiences, support financial inclusion, and promote an environmental, social, and governance (ESG) agenda while leveraging data and remaining compliant. From digitalization to fintegration, the financial services industry's future is deemed to be an exciting and productive one.

This paper aims to provide insight on internal Shariah audit change process in Islamic banking institution using sociology of translationin and the identification of specific Islamic legal maxim (ILM).

This paper gathered findings using qualitative approach where a single case study was selected. The study began with a preliminary study to assist the selection of the case study and later two phases of interviews done at the institution selected as the case study.

This paper has provided insights into the internal Shariah audit practices change using sociology of translation that incorporated ILM as the basis to strengthen the Islamic banking operations by achieving maqasid al-Shariah (MS). The findings of this paper provide distinguished insight on internal Shariah audit change process and ILM. The significance of this study is that a new contribution through exploring the viewpoints of the perception that satisfying the minimum legal requirements of Shariah compliance may not be sufficient for proper Shariah audit in IBIs. Therefore, the existence of ILM within a change process serves as a basis for best practices to be able to achieve MS through the means (wasa’il) used in realising IBIs’ objectives.

The application of ILM to internal Shariah audit change process that would guide Muslim auditors to be in line with Islamic principles. This paper focuses on the application of ILM to the Shariah audit practices changes as ILM embodied ethical value to the general concept of maslahah (well-being) under MS in the period of post-COVID-19.

We aim to generalize the continuous-time principal–agent problem to incorporate time-inconsistent utility functions, such as those of mean-variance type, which are prevalent in risk management and finance.

We use recent advancements of the Pontryagin maximum principle for forward-backward stochastic differential equations (FBSDEs) to develop a method for characterizing optimal contracts in such models. This approach addresses the challenges posed by the non-applicability of the classical Hamilton–Jacobi–Bellman equation due to time inconsistency.

We provide a framework for deriving optimal contracts in the principal–agent problem under hidden action, specifically tailored for time-inconsistent utilities. This is illustrated through a fully solved example in the linear-quadratic setting, demonstrating the practical applicability of the method.

The work contributes to the existing literature by presenting a novel mathematical approach to a class of continuous time principal–agent problems, particularly under hidden action with time-inconsistent utilities, a scenario not previously addressed. The results offer potential insights for both theoretical development and practical applications in finance and economics.

The aim of this article is to assess the macroeconomic consequences of some specific aspects of financialization (i.e. share buy-back) using a hybrid post-Keynesian model of growth and distribution based on Kaldorian and Kaleckian characteristics.

The study follows a post-Keynesian approach and deals with financialization issues by implementing several numerical simulations.

The numerical simulations reveal the negative real impacts of massive share repurchases on the rate of accumulation because they immediately siphon off revenues directly intended for investment projects. Moreover, the negative effect of share buy-backs is reinforced especially when firms' investment decisions are more sensitive to a variation in retained earnings. Next, this macro-model also reproduces several well-known figures of the Kaleckian tradition and the paradox of costs.

The present article can be considered as a starting point for further theoretical extensions and requires empirical validation.

The Kaldor-Kalecki macro-model could be useful for policymakers who are interested in containing some of the negative excesses of financialization.