Bsib622 Icp

College of Administrative and Financial Sciences
BSIB622 – INTERNATIONAL ACCOUNTING

IN-COURSE PROJECT
Instructions:
1 Conduct a research based on your chosen topic. Submit your narrative report together with
the plagiarism report on or before August 8, 2022. Plagiarism report generated by the UTB
Turnitin will only be the one accepted and it should be not be more than 20%.
2 Prepare your presentation. Presentation is 15 minutes per group. Mastery of the topic is
important. No reading of the slides. Make a smooth transition of your report. Schedule of
presentation will be set later.
Students’ Declaration:
We declare that:
I understand what is meant by plagiarism (illegal copying of one’s work)
The implication of plagiarism is tantamount to cheating
This project/activity is all my own work and I have acknowledged any use of the published and
unpublished works of other people.
Total number of pages including this cover page

Program Course Section Time/Days Due Date Date Submitted
BSIB BSIB622 FA
Course Title International Accounting
1.
Students’ Full Name & 2.
Signatures 3.
Professor’s Name DR. MARIA CECILIA P. LAGARAS, CPA

FOR OFFICIAL USE ONLY
Marking Scheme
The students must be able to: Raw Scores Scores
(a) Analysis of the Case Topic 20
(b) Presentation of Report 10
(c) Report Manuscript 10
50
General Instructions:
1. Form a group with 3 members.
Prepared by: Reviewed and Verified by: Approved by:
DR. MA. CECILIA LAGARAS DR. JAYENDIRA SANKAR DR. VINODH NATARAJAN
Course Coordinator Program Head Acting Dean
Date: July 3, 2022 Date: July 3, 2022 Date: July 3, 2022
2. Each group will conduct research on the given multinational company. Use the given
template.
Determine how did the company complied with principles of corporate
governance as indicated below.
Rule I: Construct a Balanced Board
Rule II: Establish Appropriate Roles and Responsibilities
Rule III: Recruit Highly Qualified Candidates for Members of a Board of
Directors and the Executive Management
Rule IV: Safeguard the Integrity of Financial Reporting
Rule V: Apply Sound Systems of Risk Management and Internal Audit
Rule VI: Promote Code of Conduct and Ethical Standards
Rule VII: Ensure Timely and High-Quality Disclosures and Transparency
Rule VIII: Respect the Rights of Shareholders
Rule IX: Recognize the Roles of Stakeholders
Rule X: Encourage and Enhance Performance
Rule XI: Focus on the Importance of Corporate Social Responsibility
Using the data you generated, answer the following:

How did the company:
a. selected/recruited highly qualified candidates for members of a Board of
Directors and the Executive Management
b. Safeguard the Integrity of Financial Reporting
c. Ensure Timely and High-Quality Disclosures and Transparency
d. Encourage and enhance performance, particularly the financial performance.
3. The report should have a minimum of 1,000 words. Minimum references will be 5.
4. Write proper citation and referencing in your report. Journals and reports used should
be downloaded and submitted in separate folder.
5. The report should be subjected to University Plagiarism (Turnitin) and the similarity
index should not exceed 20%.
6. Write your report in A4 paper and the font is COURIER NEW.
Side left margin is 1.25 and the right side margin is 1.0
7. Upload your narrative report to the Moodle.
8. Present your research output within 10-15 minutes.
9. Your Final Project marks will be based on the given rubrics.
10. The group has to write their own project. COPIED /PLAGIARIZED PROJECT will be
mark ZERO.
11. Rubric will be used for grading for Project.
FINAL PROJECT RUBRICS
20-16 15-11 9-6 5-1

 knowledge of issue is  issue is accurately  issue is explained  issue needs to use
exceptionally explained and uses with some accuracy more accurate
accurate and is many details and but need more details information and
explained clearly and various sources in and more variety in details or
effectively during presentation with sources and less examples
explanation using some reliance on reliance on notes heavy reliance on
details and little note  some critical notes during
reliance on notes  proficient critical comments given to presentation
(a)  exceptional critical comments and issue and effects  lack of critical or
Application comments and analysis of issue  more details, insight analytical thought
of the analysis of issue / /interpretations and and critical thought in comments and
principles interpretations / impact using many needed little to no insight
(b) Analysis impact / effect / details and evidence used
 Report is somewhat
of the Case using details, insight, and some insight  Report needs to
organized and
Topic evidence from  Report is detailed, be more
includes some images
comprehensive organized, logical organized and
thought and clear images. logical
 Report is
exceptionally
detailed, organized,
logical and clear
images.
10-8 7-5 4-3 2-1

(c)  exceptional delivery  proficient delivery  -elivery and timing of  poor delivery and
Presentatio and timing of and timing of information needs to timing of
n of information information be more smooth (too information
Report  exceptional  proficient discussion much reading)  discussion needs
(10 discussion initiated started and  more active to be more
Marks) and maintained to maintained interaction and controlled and
further student discussion dynamic
learning
SAFEGUARD INTEGRITY IN FINANCIAL REPORTING
Table of Contents
Abstract:........................................................................................................................................4
Introduction..................................................................................................................................5
Literature Review.........................................................................................................................5
Background...............................................................................................................................5
Significance................................................................................................................................9
Recommandation..........................................................................................................................12
Conclusion...................................................................................................................................13
References:..................................................................................................................................14
Abstract:
Review and Risk Management Committee The Audit and Risk Management Committee should
include somewhere around three Non Executive Members, of which two should be Independent
Directors. The Board will choose the Members and the Chairman of the Audit and Risk
Management Committee. The Council's Recommendation 4.3 requires a review advisory group
to comprise just of Non Executive Directors. The Audit and Risk Management Commitee
comprises of two Independent Directors and a Non Executive Director. The capability of the
Audit and Risk Management Committee is to: guarantee consistence with legal revealing
liabilities liaise with, survey the quality and audit the extent of work of the outer examiners
empower the evaluators to impart any worries to the Board educate the Board on the
arrangement regarding the outside reviewers and the consequences of their work evaluate the
sufficiency of bookkeeping, monetary and working controls evaluate the viability of the
administration of business hazard and dependability of the executives detailing report to the
Board any huge lacks recognized over The Board, through the Audit and Risk Management
Committee (as per its Charter) every year surveys the presentation of the outer examiner
focussing especially on: nature of the review nature of the help gave freedom Should an
adjustment of inspector be viewed as essential, the Board will prescribe an adjustment of
examiner to be supported by investors in a General Meeting.
Introduction
Under the modified Combined Code, one of the fundamental jobs and obligations of an
organization's review panel is to screen the respectability of the budget reports and some other
proper declarations connecting with monetary execution of the organization. This distribution
gives a general outline of the Code Provisions and the sorts of issues to considered, cover: • the
components of budget summaries; and • areas of judgment and elements influencing their
importance. Each organization is novel and review panels should apply the Combined Code
Provisions and related direction in a way that is proper to them. This distribution doesn't furnish
direction on the most proficient method to manage individual circumstances and reference
might should be made to the Code and related direction and other significant sources like
regulation and administrative prerequisites. In certain circumstances it will be fundamental for
the council to accept its own proficient counsel
Literature Review
Background
Universally, the validity of fiscal reports has been genuinely harmed as of late. Various drives
have been proposed to reestablish public trust in monetary detailing. In the UK, a key drive has
been the modification of the Combined Code. The Combined Code rule that 'the board ought to
lay out formal and straightforward plans for thinking about how they ought to apply the
monetary detailing and inside control standards and for keeping a proper relationship with the
organization's examiners' has been held yet has been reinforced in various regions,
remembering for the review panel's job and obligations: • 'to screen the honesty of the budget
summaries of the organization, and any conventional declarations connecting with the
organization's monetary exhibition, surveying huge monetary revealing decisions contained in
them'; and, likewise with different parts of the council's job,
to answer to the board, recognizing any issues in regard of which it thinks about that activity or
improvement is required and making proposals concerning the moves toward be taken'. As per
the 'consent or make sense of' idea, an organization will be required either to affirm that it
conforms to the arrangement or, where it doesn't, to give a clarification. 'Honesty' is basically an
individual quality. Uprightness corresponding to fiscal summaries is the aftereffect of both the
respectability of those associated with setting up the budget reports and the heartiness of cycles
by which budget reports are ready. This distribution centers around the respectability of cycles,
albeit large numbers of the contemplations will give significant understanding into the
uprightness of people.
Information to be reviewed
The review board's observing ought to likewise incorporate a survey of the connected data gave
the budget summaries. The Smith Guidance expresses that this incorporates 'the working and
monetary survey and the corporate administration proclamations connecting with the review
and hazard the board' (para. 4.4). Nonetheless, by and by, the survey ought to likewise
incorporate different segments of the yearly report like the chiefs' report (a legal necessity) and
different pages where monetary data is incorporated or alluded to. Further, the board's audit
ought to zero in on monetary data itself as well as on the structure and setting in which it shows
up. For instance, a review advisory group ought to be concerned assuming any story is
conflicting with the monetary data or is generally deceptive. This makes a survey of the whole
yearly report important to guarantee the view introduced is reliable with the review's
comprehension panel might interpret the business' exhibition and monetary position. As the
fiscal summaries are typically dependent upon a schedule to fulfill organization revealing time
constraints, the review really must panel's checking and survey is calculated into the
organization plan, permitting adequate time for both survey and ensuing explanation and
conversation. The plan ought to likewise consider that 'critical monetary detailing decisions'
will presumably be a vital component of the board's survey with the outside evaluators of the
discoveries of their review work. Essentially, the checking and survey of different declarations
ought to be considered into the organization's schedules and, where important, incorporate the
inner and outer reviewers. Regardless of whether the outside examiners have no formal or
legally binding job comparable to these declarations, the review board ought to consider getting
their perspectives as they might be pertinent sometime in the not too distant future for example
during planning of the yearly fiscal summaries. As a component of its survey, the review
council ought to likewise consider the cycle by which the fiscal summaries and other monetary
data are delivered, including the board's assurance and normal audit of bookkeeping strategies,
the recognizable proof and dynamic interaction for critical decisions and the techniques for
evaluating monetary and non-monetary revelations
Financial statements
The review panel's observing ought to likewise incorporate a survey of the connected data gave
the fiscal summaries. The Smith Guidance expresses that this incorporates 'the working and
monetary survey and the corporate administration explanations connecting with the review and
chance administration' (para. 4.4). Notwithstanding, practically speaking, the survey ought to
likewise incorporate different segments of the yearly report like the chiefs' report (a legal
prerequisite) and different pages where monetary data is incorporated or alluded to. Further, the
board of trustees' survey ought to zero in on monetary data itself as well as on the structure and
setting in which it shows up. For instance, a review board of trustees ought to be concerned
assuming that any account is conflicting with the monetary data or is generally deceptive. This
makes a survey of the whole yearly report important to guarantee the view introduced is reliable
with the review board of's how trustees might interpret the business' exhibition and monetary
position. As the fiscal summaries are ordinarily dependent upon a plan to fulfill organization
detailing time constraints, the review really should council's checking and survey is figured into
the organization schedule, permitting adequate time for both survey and ensuing explanation
and conversation. The schedule ought to likewise consider that 'critical monetary revealing
decisions' will presumably be a vital component of the council's survey with the outside
reviewers of the discoveries of their review work.
Additionally, the observing and survey of different declarations ought to be figured into the
organization's plans and, where important, incorporate the inside and outside examiners.
Regardless of whether the outer reviewers have no formal or legally binding job corresponding
to these declarations, the review council ought to consider getting their perspectives as they
might be pertinent sometime in the future for example during readiness of the yearly budget
summaries. As a component of its survey, the review board ought to likewise consider the cycle
by which the budget summaries and other monetary data are created, including the executives'
assurance and normal audit of bookkeeping strategies, the recognizable proof and dynamic
interaction for critical decisions and the methodology for inspecting monetary and non-
monetary divulgences
Significant financial reporting judgements
The accompanying areas portray a portion of the more normal circumstances where senior
administration and the board might have to practice judgment. From the get go, the review board of
trustees' undertaking could show up profoundly oppressive however it ought to be placed in setting:
a. Most of exchanges are normal and clear and reflecting them in fiscal summaries requires
nearly nothing, if any, judgment. The excess non-daily schedule, non-standard
exchanges will require most consideration from the review board.
b. Albeit the Board has extreme obligation regarding risk, the organization's administration
has everyday obligation regarding the administration of chance and this ought to take
care of through into the inner control framework. The executives' gamble evaluation
ought to incorporate critical monetary detailing decisions.
c. The review board has liability regarding interior monetary controls and may likewise
have liability regarding every inward control and hazard the executives frameworks
(C.3.2). This ought to give data and perhaps affirmation about huge monetary revealing
decisions.
d. The outer inspectors' review plans and discoveries will give valuable data, as the
evaluators will give specific consideration to decisions.
Significance
The assurance regarding whether a judgment is critical will change among organizations and
there is no single measure or set of rules that can be applied generally. On account of the yearly
budget reports, the kinds of elements that might should be considered include:
1. the impact on the pattern of the organization's outcomes - a judgment might be viewed
as huge when there is a gamble that it could be utilized to flex the year's outcomes to
show a pattern, for example, to guarantee the upkeep or inversion of the pattern in
organization benefits;
2. market assumptions - a judgment might be viewed as huge in the event that it has the
effect among meeting and neglecting to meet market assumptions;
3. the impact on key figures - showing a benefit more prominent than last year or trying
not to slip into a misfortune might be huge, particularly on the off chance that market
assumptions are not met;
4. the impact on 'trigger focuses' - in the event that specific getting contracts, for example,
interest cover are penetrated, this can have a huge impact for example through higher
financing costs or setting off advance reimbursements;
5. note exposure - the critical decisions are not restricted to the vital assertions of the
benefit and misfortune record and asset report. Key data might be unveiled in the notes
to the records like contingent liabilities (for example claims and duty cases) and data
about obligation reimbursement terms. The importance will rely upon the degree of
responsiveness of the divulgence; and timing and nature - passages that are non-routine
in nature, or are made as a feature of the post year-end close and combination process,
may require extra thought. Albeit a monetary revealing judgment might seem to have
unfavorable results that are messed up with regards to the sums in question, chiefs,
including non-leader chiefs, should guarantee that the budget summaries show a 'valid
and fair view'. The review board of trustees ought to likewise remember that taking, say,
a hopeful view about a monetary revealing judgment has chances, for instance:
6. the decisions might need to be turned around in the next year and may just concede
'terrible news';
7. once got into at least one decisions, it tends to be challenging to address what is
happening (particularly assuming a breaking down circumstance is exacerbated even),
and the standing of the organization and individual chiefs can be genuinely harmed
Accounting policies
The Smith Guidance expresses that review advisory groups ought to think about huge
bookkeeping strategies and any progressions to them. Under FRS 18 Accounting Policies, the
organization should embrace the bookkeeping strategies generally suitable to its specific
conditions, for the reasons for giving a valid and fair view. Likewise, these bookkeeping
approaches should consent to bookkeeping guidelines and company regulation. There are two
ideas that assume an unavoidable part in drawing up fiscal reports and thus in choosing fitting
bookkeeping strategies:
the going concern presumption - while setting up the fiscal summaries, the chiefs are expected
to evaluate whether there are any critical questions about an organization's capacity to go on as
a going concern; and
a. the accumulations idea - the impacts of exchanges and different occasions are
kept in the year in which they happen and not, for instance, in that frame of mind
in which money is gotten or paid. FRS 18 sets out the goals that ought to be
utilized to pass judgment on the propriety of bookkeeping strategies. One of
these goals manages 'unwavering quality' - data in the budget summaries is
dependable if:
b. 'it tends to be relied on by clients to address reliably what it indicates to address

or could sensibly be anticipated to address, and hence mirrors the substance of
the exchanges and different occasions that have occurred'
c. 'it is liberated from purposeful or deliberate inclination and material blunder and
is finished' - otherwise called 'impartiality'; and
d. 'in its planning under states of vulnerability, a level of mindfulness has been
applied in practicing the fundamental decisions' otherwise called 'reasonability'.
Organizations are by and large expected to apply similar bookkeeping standards every year,
accordingly guaranteeing likeness between one year and the following. In any case, strategies
ought to be surveyed routinely to guarantee that they stay the most suitable for giving a valid
and fair view. In the event that another strategy is viewed as additional suitable, the chiefs ought
to decide if a change is required, considering the effect on likeness.
Recommandation
a. has there been an evaluation of the areas of maximum risk, difficulty and
uncertainty?
b. is there a plan showing the resource and training requirements?
c. can management explain the areas which are considered minor, for which lower
resources will be allocated?
d. how is management tracking adjustments that will be required to contracts with,

for example, finance providers and employees?
e. are disclosures and related communications sufficient to explain the changes and
adjustments to shareholders and other stakeholders?.
Conclusion
From 2005, all listed companies in the European Union will be required to report their group
financial statements under IAS. The first time adoption of IAS will require significant
judgements to be made, both in respect of specific accounting policies to be followed and in
relation to how the transition will be communicated to the financial markets. The audit
committee might wish to consider:
References:
Tellis, G. J., Chandy, R. K., & Prabhu, J. C. (2018). Key questions on innovation in the
B2B context. In G. L. Lilien, & R. Grewal (Eds.), Handbook of business-to-business
marketing (pp. 582–595). Cheltenham, UK: Edward Elgar Publishing.
Charterina, J., Basterretxea, I., & Landeta, J. (2017). Types of embedded ties in buyer- supplier
relationships and their combined effects on innovation performance. Journal of Business &
Industrial Marketing, 31(2), 152–163.
Pittaway, L., Robertson, M., Munir, K., Denyer, D., & Neely, A. (2017). Networking and
innovation: A systematic review of the evidence. International Journal of Management
Reviews, 5(3/4), 137–168.
Abdulai, A. F. (2019). Social capital and innovation performance in firms. In B. Thomas,& L.

Murphy (Eds.), Innovation and social capital in organizational ecosystems (pp. 81–97).
Hershey, PA: IGI Global.
Manniche, J., & Testa, S. (2018). Towards a multi-levelled social process perspective on firm
innovation: Integrating micro, meso and macro concepts of knowledge creation. Industry and
Innovation, 25(4), 365–388.
Granstrand, O., & Holgersson, M. (2020). Innovation ecosystems: A conceptual review and a
new definition. Technovation, 90, 102098.
Kaur, V. (2019). Knowledge-based dynamic capabilities: The road ahead in gaining

organisational competitiveness (1st ed.). Switzerland: Springer International
Publishing.
Hansen, M. T., & Birkinshaw, J. (2019). The innovation value chain. Harvard Business
Review, 85(6), 121–130.
Autio, E., & Thomas, L. (2014). Innovation ecosystems: Implications for innovation
management. In M. Dodgson, N. Philips, & D. M. Gann (Eds.), The Oxford handbook of
innovation management (pp. 204–228). Oxford: Oxford University Press.

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College of Administrative and Financial Sciences

BSIB622 – INTERNATIONAL ACCOUNTING

Total number of pages including this cover page

Professor’s Name DR. MARIA CECILIA P. LAGARAS, CPA

Using the data you generated, answer the following:

Prepared by: Reviewed and Verified by: Approved by:

FINAL PROJECT RUBRICS

20-16 15-11 9-6 5-1

10-8 7-5 4-3 2-1

Prepared by: Reviewed and Verified by: Approved by:

SAFEGUARD INTEGRITY IN FINANCIAL REPORTING

Prepared by: Reviewed and Verified by: Approved by:

Prepared by: Reviewed and Verified by: Approved by:

Prepared by: Reviewed and Verified by: Approved by:

Prepared by: Reviewed and Verified by: Approved by:

Significant financial reporting judgements

Prepared by: Reviewed and Verified by: Approved by:

Prepared by: Reviewed and Verified by: Approved by:

Prepared by: Reviewed and Verified by: Approved by:

b. 'it tends to be relied on by clients to address reliably what it indicates to address

Prepared by: Reviewed and Verified by: Approved by:

b. is there a plan showing the resource and training requirements?

d. how is management tracking adjustments that will be required to contracts with,

Prepared by: Reviewed and Verified by: Approved by:

Abdulai, A. F. (2019). Social capital and innovation performance in ﬁrms. In B. Thomas,& L.

Prepared by: Reviewed and Verified by: Approved by:

Kaur, V. (2019). Knowledge-based dynamic capabilities: The road ahead in gaining

Prepared by: Reviewed and Verified by: Approved by:

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