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The purpose of this research is to examine the relationship between board size, number of non-executive directors, the financial expertise of the non-executive directors representing the audit committee and the audit quality.Data from non-financial firms listed in the Indonesian Stock Exchange have been used. To achieve the research objectives, we have used the logit regression. The data of 121 listed firms in a five-year period from 2012 to 2016 is collected from the printed audit accounts available on companies‘ websites. The emergence of corporate governance phenomena has brought upon many structural changes in firms‘ governance structure such as the audit committee role and the audit quality.The second decade which starts with the warmth of subprime crisis has seen a significant development in the code of corporate governance. The role of the audit committee is now significant and being recognized as the solution of prevention of internal fraud.The findings of the study have shown that in non-financial firms listed in the Indonesian Stock Exchange audit committee and board characteristics have significant effect on audit quality. This study will be helpful for students, auditors, policymakers and researchers to understand the impact of corporate governance in audit quality.

The main aim of this article is to demonstrate a holistic framework for measuring a bank’s financial health by classifying its main responsibilities between conformance and performance. Responsibilities are classified into five categories as follows: First, Corporate Financial Reporting (CFR) that integrates General Accepted Accounting Principles (GAAP), Generally Accepted Auditing Standards (GAAS), Securities Exchange Commission (SEC), Financial Services Authority (FSA), and International Accounting Standards (IAS). Second, Risk Management Procedures (RMP), that incorporates methods and directives which arise from Basel I, Basel II, Capital Adequacy frameworks or solvency ratio benchmarks. Third, Corporate Governance (CG), that integrates Sarbanes – Oxley Act, Audit Committees, and Internal Audit Mechanisms. Fourth, Corporate Social Responsibility (CSR), that consists of instructions and standards such as Global Reporting Initiative (GRI) – social and environmental, Social accountability (SA 8000) – working conditions, International Organization for Standardization (ISO 9000). Fifth, Stockholders Value Creation (SVC), that is a set of methodologies and ratios used in order to measure value creation for shareholders such as Strategic and Balanced scorecard, Economic Value Added EVA®, and other business performance management tools. On the other, the Rating Agencies (RA) applies various rating systems in different fields. Based on this framework, the article correlates all qualitative and quantitative components, with the banks’ ratings. The dependent variable is the bank’s financial health score, represented by a dummy variable based on the bank’s rating by the rating agencies and from the relevant value of each bank that arises from its performance in the above mentioned framework of responsibilities. The independent quantitative variables belong to a set of financial, risk and market key ratios and the qualitative variables to a set of dummy variables which describe the above framework. With the use of financial and other published data of the Greek banking sector the article proposes a new model and a procedure for the explanation, management and monitoring of a bank’s financial health., peer-reviewed

In our survey article, we present a holistic regulation framework for the banking sector. The article is based on European banks that are part of the European Monetary Union (EMU). Initially, we focus on the timelines and review the integration of the European Monetary Union, relevant legislation and information on member countries’ banking sectors. This information creates the framework for our analysis. A regulation framework for the banking sector should be characterised by transparency, responsibility and performance in several important areas. These areas are the global and European framework for corporate financial reporting (CFR), risk management (RM), stockholder value creation (SVC), corporate governance (CG), corporate social responsibility (CSR) and sustainable development (SD). The regulation framework for the banking sector must also consider the fiscal and monetary environment in which a banking institution operates. The global rating system and the rating agencies will also have an important impact on any regulation framework for the banking sector. These two factors play a key role when a financial, credit or debt crisis occurs. Our article considers all of the above factors in creating a holistic regulation framework for the banking sector to present in the context of the recent financial, credit and debt crises that have taken place in the EMU.

The main aim of this article is to demonstrate a holistic framework for measuring a bank’s financial health by classifying its main responsibilities between conformance and performance. Responsibilities are classified into five categories as follows: First, Corporate Financial Reporting (CFR) that integrates General Accepted Accounting Principles (GAAP), Generally Accepted Auditing Standards (GAAS), Securities Exchange Commission (SEC), Financial Services Authority (FSA), and International Accounting Standards (IAS). Second, Risk Management Procedures (RMP), that incorporates methods and directives which arise from Basel I, Basel II, Capital Adequacy frameworks or solvency ratio benchmarks. Third, Corporate Governance (CG), that integrates Sarbanes – Oxley Act, Audit Committees, and Internal Audit Mechanisms. Fourth, Corporate Social Responsibility (CSR), that consists of instructions and standards such as Global Reporting Initiative (GRI) – social and environmental, Social accountability (SA 8000) – working conditions, International Organization for Standardization (ISO 9000). Fifth, Stockholders Value Creation (SVC), that is a set of methodologies and ratios used in order to measure value creation for shareholders such as Strategic and Balanced scorecard, Economic Value Added EVA®, and other business performance management tools. On the other, the Rating Agencies (RA) applies various rating systems in different fields.

The main aim of this paper is to use chaos methodology in an attempt to predict the Baltic Dry Indices (BDI, BCI, BPI) using the invariant parameters of the reconstructed strange attractor that governs the system’s evolution. This is the result of the new emerging field in econo-physics which mainly consists of autonomous physic-mathematical models that have been already applied to financial analysis. The proposed methodology is estimating the optimal delay time and the minimum embedding dimension with the method of False Nearest Neighbors (FNN). Monitoring the trajectories of the corresponding strange attractor we achieved a 30, 60, 90 and 120 time steps out of sample prediction.