Corporate Governance dan Etika Business

Corporate Governance dan Etika Business

Corporate Governance dan Etika Business

Buku WajibBuku Wajib

• Darwin, A, 2006, Akuntabilitas, kebutuhan, pelaporan dan pengungkapan CSR bagi perusahaan di Indonesia, Economics Business Accounting Review, Departemen Akuntansi FEUI, Edisi III.

• Duska, R. F. dan B. S. Duska, 2007, Accounting Ethics, Blackwell Publishing (DD).


• IICD, 2007, Research Report on Indonesian Corporate Governance Scorecard, IICD.

• Komite Nasional Kebijakan Governance, 2006, Pedoman Umum Good Corporate Governance Indonesia (KNKG).

• OECD, 2004, OECD Principles of Corporate Governance (OECD).

• Rezaee, Zabihollah, 2009, Corporate Governance and Ethics, John Wiley (ZR).


• Utama & Leonardo, 2006, Audit Committee Composition, Control of Majority Shareholders and Their Impact on Audit Committee Effectiveness: Indonesia Evidence, Jurnal Riset Akuntansi Keuangan Indonesia, Januari.

• Aturan-aturan yang terkait dengan corporate governance, seperti UU Perseroan RI, SK Meneg BUMN 103 dan 117, dan berbagai aturan Bapepam/BEJ.

TugasTugas

• Tugas Kelompok

Peserta dibagi menjadi 5 kelompok dan setiap kelompok bertugas membuat 5 laporan yang menganalisis dan mengevaluasi lima prinsip GCG dalam prakteknya di satu perusahaan terbuka di Indonesia, dengan menggunakan informasi publik yang tersedia (Laporan Tahunan, Website, Press Release, dst). Laporan dikumpulkan pada saat pembahasan.

Kelompok akan mempresentasikan laporan tersebut di kelas untuk dibahas bersama.

TugasTugas

• Tugas Kasus

Setiap peserta bertugas membuat makalah yang membahas dan mengulas kasus yang akan didiskusikan di kelas. Pembahasan dikaitkan dengan topik yang akan didiskusikan di kelas.

Bobot PenilaianBobot Penilaian

• Partisipasi 15%

• Makalah Kasus 20%

• Makalah kelompok 20%

• Presentasi 10%

• Ujian Tengah 17,5%

• Ujian Akhir 17,5%

Plagiarisme Plagiarisme

• Plagiarisme mengambil kata-kata atau kalimat atau teks orang lain tanpa memberikan acknowledgment (dalam bentuk sitasi) yang secukupnya

Plagiarisme Plagiarisme

• Minimal harus mencantumkan sumber kutipan di teks terkait dan di daftar pustaka

• Sanksi plagiarisme: nilai 0 untuk tugas makalah

• Harus melampirkan dan menandatangani Statement of Authorship di setiap tugas kuliah

KUTIPANKUTIPAN

• Ada tiga sistem kutipan (pengacuan): Pengacuan Berkurung, Catatan Kaki, dan Catatan Akhir

• Pengacuan Berkurung: menempatkan informasi tentang identitas lsuatu sumber rujukan langsung terpadu dalam teks dalam bentuk singkat• Lazimnya hanya nama pengarang dan tahun

terbit, dan jika perlu nomor halaman

• Catatan Kaki (footnote): menempatkan informasi tentang identitas suatu sumber rujukan di bawah teks pada halaman yang sama dengan pengacuannya

KUTIPANKUTIPAN

• Catatan Akhir (endnote): menempatkan informasi tentang identitas lengkap suatu sumber rujukan di bagian akhir sebuah artikel

KUTIPANKUTIPAN

CATATAN KAKICATATAN KAKI

• Catatan kaki atau catatan akhir biasa digunakan untuk memberikan keterangan tambahan yang agak menyimpang dari alur utama kalimat atau paragraf terkait.

The Free Market System and Business

The Free Market System and Business

The Free Enterprise System and Capital Markets


• Free enterprise system has transformed private ownership of businesses to dispersed public ownership of corporate shares

• Busines play an important role in creating safe, efficient, and competitive capital markets to ensure economic growth, low costs of capital, enterpreneurship, innovation, and job creation



• Investor protection in providing the most cost-effective capital is essential to the survival and competitiveness of capital markets– Protected through appropriate regulations,

effective corporate governance, and optimal market mechanisms

• Responsibility of all participants, including investors, corporations, regulators, government entities, and society at large



• The Wealth of Nations (Adam Smith, 1776) free and competitive market economy enables corporations to efficiently and effectively use society’s resources in creating value, and market mechanisms prevent corporations from abusing their power and defrauding their stakeholders



• Recent financial scandals prove that market mechanisms by themselves may not be adequate to monitor, control, and discipline business affairs, and corporate governance reforms were needed to correct the perceived failures of market mechanisms

The Role and Responsibility of Business Society


• Corporations are viewed as creators of value for all concerned stakeholders

• Corporations obtain their financial capital, labor capital, and skills (managerial capItal) from their stakeholders, conduct value-added activities, and return sustainable and enduring value to their stakeholders

• All stakeholders contribute to the successful operation of corporations in creating value



• The primary mission of public companies is regarded as creating enduring value, and the corporate governance structure is designed to ensure the accomplishment of the mission

• The mission of corporate governance:– Value creation shareholder value creation and

enhancement through the development of long-term strategies to ensure sustainable and enduring operational performance

– Value protection accountability of the way the company is managed and monitored to protect the interests of shareholders and other stakeholders



• The First Tier: Investors– Shareholders are the primary stakeholders– Many argue that the primary purpose of the

company is to maximize shareholder wealth– Corporate governance and reforms are aimed

at protecting shareholders rights



• The Second Tier: Creditors– Ownership structure: debt and equity– Debt holders demand some control over

managerial actions by entering into debt covenant contracts designed to protect their interests and determine whether breaches of contractual provisions have occured



• The Third Tier: Others– Employees, suppliers, customers,

government, community, and society– Communication with all stakeholders is

central to improving decision-making processes, strengthening relationship, gathering important information, and building an accord among dissimilar views

The Role of Financial Information in The Capital Markets


• The sustainability and financial health of public companies, public trust, and investor confidence in financial reports plays a crucial role in the integrity and efficiency of the capital market and the economic growth and prosperity of the nation



• Reliability, accuracy, and transparency of financial information play a vital role in the efficiency, integrity, and safety of capital markets– The role of individuals involved in the

corporate financial reporting supply chain (board of directors, the audit committee, maagement, auditors)

– Financial disclosure



• Accurate financial information assists investors with making informed, aound investment decisions

• High-quality financial information improves investor decisions, and in turn, efifciency, liquidity, and safety of the capital markets, which may result in prosperity and economic growth for the nation

Introduction to Corporate Governance


• Corporate governance has gained renewed interest and relevance in recent years and is now emerging as a central issue within public companies



• Effective corporate governance ensures corporate accountability, enhances the reliability and quality of public financial information, enhances the integrity and efficiency of the capital market, and thus, improves investor confidence

• Corporate governance is ultimately about leadership and accountability

Corporate Culture and IntegrityCorporate Culture and Integrity

• Corporate culture is continuously affected by its leadership in setting a ‘right tone at the top’ and is often informal in establishing powerful norms and standards that influence behavior

• Compliance culture requires the establishment and implementation of proper programs, policies, and procedures to effectively comply with applicable regulations, standards, and best practices– Ethical culture

Corporate AccountabilityCorporate Accountability

• The multiple bottom lines (MBL) objectives of economic, social, ethical, and environmental performance

Documents

Corporate Governance dan Etika Business