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The purpose of this paper is to examine the earnings management practices of Tunisian banks after the publication of the first International Monetary Fund (IMF) report (2002) over the period 1998-2007.

The study relies on a mixed model that combines both the quantitative and qualitative approaches. First of all, we use the quantitative method to measure the discretionary loan loss provisions based on the model of Cornett et al. (2009), and then we validate the quantitative findings by using the interview approach.

Since 2005, Tunisian banks have resorted less and less to accounting earnings management through the loan loss provisions, but conversely, real earnings management has been revealed instead by the sale of investment securities and the use of debt collection agencies. Despite the IMF recommendations, Tunisian banks continue to manage their earnings by changing only their strategies.

The findings of this study show that the regulation cannot avoid earnings management. Even if the regulation limits the discretion of the manager, the latter finds new alternatives to manipulate the earnings.

This is the first study that analyses the impact of the IMF recommendations on earnings management in an emerging economy.

The purpose of this paper is to explore how an accounting association and its key members define, control, and claim their knowledge; adopt a closure and/or openness policy to enhance their status/influence; and respond to structural/institutional forces from international organisations and/or the state in a particular historical context, such as a globalised/neo-liberalised setting.

The authors draw on Pierre Bourdieu’s theoretical tools (field, capital, habitus, and doxa) to understand how public sector accrual accounting was defined, and how the Korean Association for Government Accounting was formed and represented as a group with public sector accounting expertise. The research context was the implementation of accrual accounting in South Korea between 1997/1998, when the Asian financial crisis broke out, and 2006/2007, when accrual accounting was enforced by legislation. The authors interviewed social actors recognised as public sector accounting experts, in addition to examining related documents such as articles in academic journals, newsletters, invitations, membership forms, newspaper articles, and curricula vitae.

The authors found that the key founders of KAGA included some public administration professors, who advocated public sector accrual accounting via civil society groups immediately after Korea applied to the International Monetary Fund for bailout loans and a new government was formed in 1997/1998. In conjunction with public servants, they defined and designed public sector accrual accounting as a measure of public sector reform and as a part of the broader government budget process, rather than as an accounting initiative. They also co-opted accounting professors and CPA-qualified accountants through their personal connections, based on shared educational backgrounds, to represent the association as a public sector accounting experts’ group.

These findings suggest that the study of the accounting profession cannot be restricted to a focus on professional accounting associations and that accounting knowledge can be acquired by non-accountants. Therefore, the authors argue that the relationship between accounting knowledge, institutional forms, and key actors’ strategies is rich and multifaceted.

The global financial crisis has magnified the role of Financial Sector Surveillance (FSS) in the International Monetary Fund's activities. This chapter surveys the various steps and initiatives through which the Fund has increasingly deepened its involvement in FSS. Overall, this process can be characterised by a preliminary stage and two main phases. The preliminary stage dates back to the 1980s and early 1990s, and was mainly related to the Fund's research and technical assistance activities within the process of monetary and financial deregulation embraced by several member countries. The first ‘official’ phase of the Fund's involvement in FSS started in the aftermath of the Mexican crisis, and relates to the international call to include financial sector issues among the core areas of Fund surveillance. The second phase focuses on the objectives of bringing the coverage of financial sector issues ‘up-to-par’ with the coverage of other traditional core areas of surveillance, and of integrating financial analysis into the Fund's analytical macroeconomic framework. By urging the Fund to give greater attention to its member countries' financial systems, the international community's response to the global crisis may mark the beginning of a new phase of FSS. The Fund's financial sector surveillance, particularly on advanced economies, is of paramount importance for emerging market and developing countries, as they are vulnerable to spillover effects from crises originated in advanced economies. Emerging market and developing economies, which constitute the majority of the Fund's 187 members, are currently the recipients of over 50 programmes of financial support from the Fund (including those of a precautionary nature), totalling over $250 billion.

To examine if recent changes to the law and practice of certain offshore financial centres (OFCs) means that some OFCs now have more stringent anti‐money laundering measures in place compared to their “onshore” counterparts. To further explore the allegation by some that there is a dual standard in terms of the pressure applied to OFCs on the one hand and “onshore” jurisdictions on the other.

The analysis will focus on the Crown Dependencies and the British Overseas Territories of Bermuda and the Cayman Islands. The “onshore” jurisdictions include the UK, the USA and Australia. Comparison of the implementation of the FATF 40 Recommendations (using the most recent IMF Assessments), trust and company services legislation, and the “Know Your Customer” requirements.

The results show that the Crown Dependencies and the selected Overseas Territories are not only keeping up with the USA, the UK and Australia but in many cases “outdoing” the AML/CFT regimes of these onshore jurisdictions.

Comparison limited to only certain OFCs and “onshore” jurisdictions. There is a two year difference between the IMF assessments for the OFCs and for the onshore jurisdictions. Future research would include the results of the second phase of the OFC Assessment Program and IMF assessments due in the next few years.

This paper examines a very topical area of financial crime based on the most recent data available.

The Asian Monetary Fund, proposed during the 1997–1998 Asian Financial Crisis, was an attempt by East Asian nations to develop collective policy responses to financial crises and provide rapid distribution of emergency funding. It was envisaged that policy prescriptions would exhibit greater regional sensitivity and prevent contagion. The proposal was rejected because of the perceived perpetuation of moral hazard, duplication and conflict with the International Monetary Fund and belief that historical disunity would prevent successful collaboration. This paper advocates, in the context of international financial architecture reform, enhanced East Asian regionalism is crucial to prevent and manage future financial crises.

This paper aims to track Qatar’s progress in preventing abuse of charitable status or of its financial regulations to prevent terror finance.

Qatar’s progress towards meeting the demands of the Central Themes will thus be summarised and explored. This paper tracks its history in response to evolving Financial Action Task Force (FATF) standards, and considers how Qatar can take measures to enhance their reputation.

Qatar’s efforts were found to be sustained but these still fall short of emerging standards. This paper advocates for higher standards.

This original paper and novel approach is useful to policymakers and researchers of AML/CTF law. It is particularly timely in advance of the 2017 mutual evaluation of Qatar. It advances the findings of on another article written by the author.

This paper seeks to examine the extent to which Financial Action Task Force (FATF) Special Recommendations and UN Security Council Resolutions on the financing of terrorism have been implemented by countries and the legal issues relating to the implementation of these requirements.

It uses the findings from a review of the International Monetary Fund and the World Bank, which is based on a sample of 18 countries that were assessed on their compliance with the FATF 40 + 9 Recommendations (which include the FATF Special Recommendations and UN Security Council Resolutions 1267 and 1373) between March 2004 and August 2005.

It analyses the extent to which the FATF Special Recommendations and UN Security Council Resolutions 1267 and 1373 have been implemented, and in particular, the areas which countries have difficulties in complying fully with the requirements and related issues. It also discusses the difficulties with applying international law instruments such as UN Security Council Resolutions 1267 and 1373 where measures were aimed at non‐state actors and their assets, as well as the need for ensuring that persons affected by these measures have adequate legal recourses.

In countering the financing of terrorism, the paper discusses the design of a new international legal framework, which requires development of new concepts. It suggests that, by addressing the legal challenges created by these new concepts, the latter can be further refined, improved and strengthened.