The Tools of Corporate Governance and their impact on reducing the creative accounting practices in the Jordanian shareholding companies. (A field study on a selected group from Jordanian shareholding industrial companies)
Keywords:
corporate governance, creative accounting, Jordan, Field Study,Abstract
This study aims to demonstrate the impact of corporating governance
tools in reducing creative accounting practices in the Jordanian shareholding
companies. To achieve the objectives of the study, the researchers developed
a questionnaire and distributed among the study population, which consists
of internal and external auditors. A random sample of (110) auditors was
selected, and descriptive statistics methods (mean, standard deviation, and
percentage) are used. In order to test hypotheses of the study, the researchers
used the one sample (T) test. The study found that there is effect of the Board
of Directors in reducing creative accounting practices in the Jordanian
shareholding companies to raise the level of transparency and efficiency in
the financial reports published by companies. Audit Committee affected the
reduction of creative accounting practices in the Jordanian shareholding
companies through the participation of the Audit Committee with the Board
in the selection of appropriate accounting policies and the preparation of
financial reports. There is an impact of the internal audit in the reduction of
the practices of creative accounting in Jordanian shareholding companies
embodied in reports and observations in these reports. This is true in case of
the external audit. This is structured through the external auditor to ensure
that accounting policies applied in line with the professional versions to
reduce the practice of creative accounting.
The study recommends the need to reconsider the responsibility of the
internal and external auditors by focusing on economic value and various
risks in the practices of creative accounting. There is a need to expand the
circle of activities of internal and external audit to include examination,
evaluation, analysis and management strategies of the company in terms of
strengths, weaknesses, opportunities and threats
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