An international study of internal audit function quality

We investigate organisational and environmental factors that influence firms’ incentives to develop high-quality internal audit functions (IAFs) by using a unique international sample formed by matching proprietary data from a global internal auditor survey with public data obtained from Worldscope. Concerning organisational factors, we find that a positive relationship exists between IAF quality and firm complexity and confirm that complex firms have a higher demand for monitoring and advising and, therefore, a greater need for formal controls. In addition, IAF quality is positively related to board monitoring and audit committee diligence but negatively associated with CEO power, which suggests that IAF quality is influenced by other key players in corporate governance. Regarding environmental factors, we document that IAF quality is positively associated with industry competition, which implies that a firm’s incentive for a high-quality IAF is enhanced when confronted with greater environmental uncertainty. Furthermore, IAF quality has a significantly positive relationship with our self-constructed index of IAF requirements included in national corporate governance codes, which indicates that strong home-country corporate governance codes play a role in fostering IAF development.     

Fair value disclosures and crash risk

In response to the public criticism of the inadequate disclosures mandated by SFAS No. 157, Fair Value Measurements, the FASB issued ASU (Accounting Standards Update) 2010–06, Improving Disclosures about Fair Value Measurements, and ASU 2011–04, Amendments to Achieve Common Fair Value Measurement and Disclosure Requirements, in an effort to increase the reporting transparency. We examine whether the increased fair value disclosures required by these two updates effectively decrease crash risk, defined as the frequency of extreme negative stock returns. In support of the hypothesis, we find that increased transparency from these updates reduces crash risk among U.S. banking firms and that the reduction is greater in banks that have a higher level of Level 3 financial assets.     

The Rocky Road to Legacy: Lessons from the 2010 FIFA World Cup South Africa Stadium Program

This article describes how the management and organization of the South African 2010 FIFA World Cup stadium program shaped the current legacy of an oversupply of overdesigned and underutilized stadiums. The article identifies seven key factors that explain the differences between expected benefits and the actual legacy. Identification of these factors contributes to the increasing academic interest in explaining the poor legacy outcomes of mega‐events. In conclusion, we recommend that future host country governments defragment their stadium programs by establishing a World Cup Delivery Authority (WCDA), with responsibility for the leadership and coordination of the stadium program.     

AN ANALYSIS OF THE WELFARE CUTS IN THE COMPREHENSIVE SPENDING REVIEW AND THE BUDGET 2010

In the Comprehensive Spending Review and in the Budget 2010, the Liberal–Conservative coalition has announced cost‐cutting measures in the benefit system. Some of these measures can be interpreted as ‘random cuts’, where the given scope and structure of a spending programme is retained, while bits and pieces are chopped off here and there. Others can be interpreted as more strategic measures, or reconsiderations of the proper role of government in the respective area. However, where the coalition has pursued a more strategic approach, it has not followed it through consistently. The coalition's consolidation strategy relies too much on temporary caps and freezes, which will eventually expire and give way to renewed spending pressures.     

Japanese economy and the its exchange rate from 1985 to 2010

The paper tries to analyze the interaction between Japanese exchange rate and its domestic economy from 1985 to 2010. By employing the Mundell-Fluming model, the paper is designed to shed light on the factors that determined the exchange rate and the impact of the exchange rate on the economy, the theoretical result of the model will be enhanced with the help of graphs and statistical numbers, by the end of the paper; it concludes the important policy implication for the monetary policy and exchange rate policy.     

《2010年国际贸易术语解释通则》与《 2000通则》的比较

为帮助外贸业务人员深入理解和正确使用《2010年国际贸易术语解释通则》的条款,本文旨在通过对最新发布和生效的《2010年国际贸易术语解释通则》的修订背景、及其与《2000年国际贸易术语解释通则》的比较分析,探讨《2010年国际贸易术语解释通则》在国际贸易今后发展中的实际意义,并结合目前外贸企业对贸易术语的应用现状,有针对性地提出如何使贸易术语更好地与外贸企业实际业务相结合,从而使外贸从业人员能熟练掌握、灵活运用《2010年国际贸易术语解释通则》,避免贸易纠纷,减少贸易风险,以防患于未然。     

2010年中国经济的三大困境

我是从来不预言的,但是我不得不提醒大家,2010年的经济是不容乐观的.中国经济发展的几驾马车还有哪一辆能拉的起来?消费这一驾马车,我也不用说,大家心里都清清楚楚的,老百姓哪敢消费!用什么去消费?这一驾已经跑不动了.出口,讲出口就不得不讲奥巴马.这个家伙这次来中国给我们带来了三个"礼物",他给我们带来的是贸易大战、汇率大战和成本大战.现在还有一驾马车拉着中国经济向前走,那就是基础建设.告诉你,世界上没有哪一个国家能靠持续的投资基础建设发展成为经济强国的.     

基于DELPHI医院耗材库存管理系统设计及实现

传统意义人工输入形式的耗材管理已经不能适应医院日益发展，基于C／S模式的库存管理系统将取而代之。本文主要讨论基于DELPHI和SQL数据库的库存管理系统的设计及实现。希望本文的研究能促进医院信息化的发展。     

会展旅游的网络信息实证分析——以上海世博会为例

近年来,我国会展旅游发展迅速;作为会展旅游典型代表的上海世博会,为其深入发展起到了很好的示范作用。以网络旅游信息为对象,采用计量分析、情感分析等方法,依次分析和探讨了上海世博会的运营现状及其各片区（场馆）的受访状态。研究表明,多数游客能够认同或接受世博资源,且各片区（场馆）因其文化、地域等差异,存在着显著的冷热现象;网络媒体所承载的旅游信息,能够为相关部门有效衡量和评估会展旅游资源提供新的思路或方法。     

2010年后高职英语教材的展望

随着我国高职教育人才培养模式的转变,2010年以后的高职英语教材建设也正面临着改革。有必要对我国第三阶段高职英语教材的设计与基本要求、教材内容与实际使用进行对照,提出新一代高职英语教材建设的构想,探索新一代教材＂基础英语＋行业英语、多媒体平台、实训平台＂三位一体的构架。