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Since the end of the Second World War, American society has seen the emergence of technology promising to make life easier, better and longer lasting. The more recent explosion of the Internet is fulfilling the dreams of the high‐tech pundits as it provides global real‐time communication links and makes the world's knowledge universally available. Privacy concerns surrounding the development of the Internet have mounted, and in response, service providers and website operators have enabled Web users to conduct transactions in nearly complete anonymity. While anonymity respects individual privacy, it also facilitates criminal activities needing secrecy. One such activity is money laundering, which is now being facilitated by the emerging Internet casinos industry. These casinos can be physically located anywhere with websites available worldwide. Internet casinos were a target of legislation by the US Congress, but the legislation, the Internet Gambling Prohibition Act, failed to pass. So, at the moment, Internet casinos are a virtually unregulated mechanism for laundering illegal funds.

The purpose of this paper is to investigate the change of the Jordanian corporate reporting requirements in 1998. The reasons as to why International Financial Reporting Standards (IFRS) were adopted in Jordan are outlined on the basis of strong structuration theory’s (SST) quadripartite structure.

This study is interpretive, as perceptions of the study’s participants are analysed regarding the adoption of IFRS in emerging economies. Semi-structured interviews were undertaken to collect Jordanian experts’ perceptions. The study uses elements of Stones’ strong structuration to illustrate and analyse the current study’s data.

The analysis illustrated that various elements pushed for the adoption of IFRS in Jordan – external structures that cause adoption of IFRS are the Gulf War and the immediate impact this had on Jordan. The internal structures seek to adopt new regulation in order to protect and support the Jordanian economy, which is part of agents-in-focus’ dispositions, and gain foreign direct investment. Agents-in-focus found that some corporations comprehended the needs of external investors, thus, sought to provide such information voluntarily.

A limitation of this paper is the number of participants, which for future studies needs to be considered.

Reasons as to why new regulation is adopted are illustrated, which can support other countries seeking to do adopt new corporate reporting rules.

This study contributes to the sparse body of studies using SST in financial accounting. It is also one of the few studies investigating the change of regulation and the reasons for this adoption in the Middle Eastern and Jordanian context, in an interpretive study.

This paper aims to study the three levels of anti-money laundering (AML) and combating of terrorist financing (CTF) regulations that apply to banks and financial institutions listed within the country. The paper aims to determine risks arising from globalised financial centres within the United Arab Emirates (UAE) and potential improvements deficiencies that may otherwise serve as conduits for criminal and terrorist organisations. There is a significant body of literature that covers the advance of AML/CTF legislation in the Dubai-based free trade zone, the Dubai International Financial Centre (DIFC). Though free trade zones are scattered across the UAE, the DIFC has the highest foreign investment in the country with an expanded international network.

The UAE has made progress as part of its fight against money laundering (ML) and terrorist financing (TF). This paper studies the legislative stance by analysing the country’s AML/CTF laws. Also, the advances of global financial centres in the UAE have created layers of regulation, each regulator with their own set of rules. This paper attempts to study the regulations and the level of their enforcement to combat ML and TF.

This paper finds significant regulatory oversight in certain frameworks set within the UAE’s financial system. However, the paper finds secondary literature and evaluations conducted by international bodies that suggest some deficiencies within the mechanisms, that are being resolved by the country’s regulatory agencies. The UAE’s advancing network of financial institutions has created a global chain of monetary transfers, which offers some possibility of ML also extending to TF. Though the country has made progress, there remain a few flaws that can be exploited by criminal and terrorist organisations.

ML has the possibility to damage markets if allowed in excess. This is not the case with the UAE, and large unverified transactions are investigated by the regular authorities. ML is now a matter of concern when funds acquired through illegal means may be used to directly finance terrorism.

This paper tests the UAE’s mechanisms to combat ML and TF in the context of the country’s advancing of a global central financial market. There is a need to understand these regulations as investors within the UAE and abroad may sometimes face risk if ML/TF deficiencies are exploited by criminal and terrorist organisations. This paper provides an insight into the country’s infrastructure to combat ML and TF and also weighs its performance as per international standards and guidelines.

This article reviews the history of international coordination in the supervision of financial institutions noting why cooperation developed first and has been most extensive in oversight of banks relative to securities firms and insurance companies. It also poses the question of whether the extent of international coordination can be sustained or may even diminish.

The history of international coordination is used to illustrate the hypotheses that cooperation is more likely: the broader the international consensus on policy objectives and the potential gains from cooperation, the wider the international consensus on policy objectives and the potential gains from cooperation, the deeper the international agreement on the probable consequences of policy alternatives, the stronger the international institutional infrastructure for decision-making and the greater the domestic influence of experts who share a common understanding of a problem and its solutions.

All five of these factors that have enabled deepening and broadening of international cooperation have diminished in strength so that international cooperation is not likely to expand and may even be in retreat.

This article clarifies the factors that facilitate international cooperation and highlights the key obstacles to sustaining international cooperation.

The global governance of trade is in a deadlock and the WTO is suffering from a long standing crisis of legitimacy. This paper aims to analyse the main issues which might influence the governance of world trade from now until 2030 and present quantitative projections of international trade.

The research on the main issues which might influence the governance of world trade from now until 2030 draws on a detailed analysis of the WTO and trade policies. Four scenarios of the world economy are presented, which are derived from the international AUGUR research project “Challenges for Europe in the world in 2030” coordinated by Paris Nord University. The analysis takes into account econometric forecasting of world trade conducted in the framework of this project.

First, the failure of the Doha Round of multilateral trade negotiations to reach its ambitious agenda derives from the discrepancy between the governance of world trade and the new power relationship prevailing in the world economy, with new emerging powers (China, India, etc.) rapidly increasing their share of world trade. Second, the continuous restructuring of world trade and economy, which goes together with new forms of globalization, will increase pressure for a profound reform of the governance of world trade in the next few years.

This paper calls for a reform of world trade governance, especially of the missions of WTO within a renovated economic world order. Future research could investigate more deeply the potential for regional trade integration, which is reinforced by international production networks. Regional trade agreements might be an increasing alternative to multilateral trade agreements.

This paper brings new ideas by raising the issue of the governance of world trade using a prospective approach, with the aim to identify the key channels through which international trade integration will impact the world economy. This study bases its analysis on potential scenarios from now on until 2030, each of these scenarios corresponding to a specific institutional configuration.

The spectacular performance of the US financial market in recent years, the financial crises in South‐East Asia and Russia and the collapse of one of the most established merchant banks in the world are landmark events in economic history that have prompted concerns around the globe. The advent of the information age and globalisation means that the consequences of these events are felt more readily and extensively than ever before. Sustainability of financial growth and avoidance of future crises raise questions with a common denominator — good governance. With one of the principal financial centres in the world, it is trite to suggest that the need for good governance in the UK cannot be overstated. Protecting investors against abusive and fraudulent practices in the financial services industry has always assumed great importance. Since its emergence as an international financial and trading centre in the 13th century, the City of London has consistently emphasised the values of market confidence and integrity. In the Financial Services and Markets Bill, which is currently being read in Parliament, it is stated that its object is to maintain confidence in the financial markets, to promote public awareness and understanding, to secure an appropriate degree of protection for consumers through recognising the different degree of risks involved in different transactions and the different degrees of expertise and experience of different consumers, and to reduce the extent to which financial undertakings are used for the furtherance of financial crime.

The need for food safety and food quality standards is acknowledged by public regulators, private actors, and the society. The purpose of this paper is to identify the types of actors in the multilevel transnational food chain regulatory governance and how their interlinking affects regulatory outcomes over time.

Food chain regulatory standards emerge within a complex process beyond the state. Based on interdisciplinary theoretical perspectives, namely regulatory governance and political economy, this paper provides a integrative framework of analysis by identifying the types of actors and their interactions in the food chain regulatory governance.

Food chain regulatory standards setting have been mainly studied either from the public regulator or the firm self-regulating point of view. This paper demonstrates how the political and economics dynamics of the interactions among public and private actors operate within the transnational food standards setting process. The study identifies the groups of interdependent actors (public and private) that interact within the transnational food chain regulatory process and develop public-private regulations, self-regulations, and co-regulations over time. In this process, the actors’ different power, operational and regulatory capacity, experience, resources affect the regulatory outcome with socio-economic and governance implications.

The paper does not examine in detail how these interactions operate empirically on specific regulations.

The paper offers an integrative thorough understanding of the food chain regulatory standard setting process, relevant for academics, policy makers, the industry, and society.

The paper constitutes new research by identifying the actors and interactions in the integrative regulatory governance of the food chain standards.

The promotion of tobacco products has received detailed attention. However, this research has focussed on the effects of tobacco advertising or sponsorship, and how restrictions on promotion activities affect demand. By contrast, comparatively few studies have examined the regulatory implications of variations in the guidelines or statutes governing tobacco promotions. In this paper we analyse the issues arising from inconsistencies in international tobacco promotion regulations and the proposals designed to address these. We conclude that because the development and application of consistent regulations infringes on the economic interests and traditions of civil liberties in some nations, the prospects for implementing internationally adhered to protocols is gloomy. A more practical solution may be to control the conditions of sale of tobacco products as these are more readily circumscribed by domestic regulation.

The shipbreaking sector in Bangladesh has spurred extensive academic and policy debates on relations between shipbreaking industries, environmental degradation and the health security of their workers. As shipbreaking is an economically significant industry in Bangladesh, it needs to implement both domestic and global mechanisms for environmental conservation and the protection of the labourers’ health from environmental risks. The purpose of this paper is to primarily explore the environmental and health security issues in shipbreaking activities in Bangladesh. It also identifies the challenges in implementing the rules and regulations for protecting the health of the workers at shipbreaking yards in Bangladesh and preserving the marine environment.

This is a qualitative paper based on secondary materials, including journal articles, books and national and international reports. It critically reviews the existing literature, rules, regulations and policing on shipbreaking with a particular focus on the environment and health security of the workers.

This paper finds that the implementation of the rules and regulations in shipbreaking in Bangladesh is complicated because of weak implementation mechanisms, political and economic interests of the yard owners, lack of coordination among different agencies, lack of adequate training and awareness among the workers and workers’ poor economic condition, which contribute to the degradation of marine and local environments and trigger health hazards among the workers. Therefore, degrading the environment and undermining occupational health and safety regulations have become regular; thus, accidental death and injury to the workers are common in this sector.

This paper is an important study on the issues of workers' health and safety and environmental hazards in the shipyard. It reports how the health security of the workers in shipbreaking yards in Bangladesh is vulnerable, and environmental rules are challenged. Finally, this paper frames some policy implications to safeguard the workers’ health rights and the marine environment.

IFAC, a Swiss‐registered non‐governmental organization, is emerging as an important international (auditing) standard setter amongst a powerful group of regulators, including the World Bank, the International Organisation of Securities Commissions (IOSCO) and the European Commission (EC). The purpose of this paper is to focus on the changing governance and accountability structures within IFAC, the way such changes are shaping, or re‐shaping, its “public interest” commitments and the resulting strategic implications for processes of auditor regulation and public oversight in the global financial arena.

The material and analysis presented in the paper derives from an extensive review of official reports, consultation documents and related responses, a range of other information available on IFAC's web site (www.ifac.org) or those of other key regulatory players in the global financial arena.

The paper analyzes how IFAC is succeeding as an international standard setter with an established place in the global financial infrastructure. From analysis of the recent establishment of a Public Interest Oversight Board (PIOB) and the changing nature of representation on IFAC's Public Interest Activity Committees (PIACs), the paper reveals a growing reliance on governance by experts together with a growth in influence of the large, multinational accounting firms. Governance of auditors has become a matter of global importance and governance structures are being reconfigured.

By highlighting the changes that have taken place within IFAC's governance system, the paper establishes the importance for public policy of further study and debate concerning the nature and practical operation of such a system, particularly given IFAC's position within a complex but developing global governance arena.

IFAC is becoming an integral player in global financial governance processes and yet has not been subject to any substantial academic accounting research. This paper seeks to rectify this by focusing on the structures and processes underpinning both the development of IFAC's International Standards on Auditing (ISAs) and its own global strategy for advancement.