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This study aims to explore current approaches, challenges and practical lessons in auditing artificial intelligence (AI) systems for bias, focusing on legal compliance audits in the USA and the European Union (EU). This emphasizes the need for standardized methodologies to ensure trustworthy AI systems that align with ethical and regulatory expectations.

A qualitative analysis compared bias audit practices, including US bias audit report summaries under New York City’s Local Law 144 and conformity assessments (CAs) required by the EU AI Act. Data was gathered from publicly available reports and compliance guidelines to identify key challenges and lessons.

The findings revealed that AI systems are susceptible to various biases stemming from data, algorithms and human oversight. Although valuable, legal compliance audits lack standardization, leading to inconsistent reporting practices. The EU’s risk-based CA approach offers a comprehensive framework; however, its effectiveness depends on developing practical standards and consistent application.

This study is limited by the early implementation stage of regulatory frameworks, particularly the EU AI Act, and restricted access to comprehensive audit reports. A geographic focus on US and EU jurisdictions may limit the generalizability of the findings. Data availability constraints and the lack of standardized reporting frameworks affect the comparative analysis. Future research should focus on longitudinal studies of audit effectiveness, the development of standardized methodologies for intersectional bias assessment and the investigation of automated audit tools that can adapt to emerging AI technologies while maintaining practical feasibility across different organizational contexts.

This research underscores the necessity of adopting socio-technical perspectives and standardized methodologies in AI auditing. It provides actionable insights for firms, regulators and auditors into implementing robust governance and risk assessment practices to mitigate AI biases.

Effective AI bias auditing practices ensure algorithmic fairness and prevent discriminatory outcomes in critical domains like employment, health care and financial services. The findings emphasize the need for enhanced stakeholder engagement and community representation in audit processes. Implementing robust auditing frameworks can help close socioeconomic gaps by identifying and mitigating biases disproportionately affecting marginalized groups. This research contributes to developing equitable AI systems that respect diversity and promote social justice while maintaining technological advancement.

This study contributes to the discourse on AI governance by comparing two regulatory approaches, bias audits and CAs and offers practical lessons from current implementation. It highlights the critical role of standardization in advancing trustworthy and ethical AI systems in the finance and accounting contexts.

The third in a series of articles that explore the nature of academic regulation in the UK. Argues that UK higher education (HE) should aspire to a regulatory regime which is based on the principle of ‘partnership in trust’. The principle would facilitate a strategic move towards institutional self‐regulation for those institutions that demonstrate effective and consistent capacity for effective regulation. Recognises that public confidence in such a model would require a complementary emphasis on collective regulation at the level of the institution and subject. Explores the idea of partnership in a climate of trust through a hypothetical model of a self‐regulating university and considers the potential for new types of relationship that could be created by applying the principle.

This paper examines the need for international regulation of financial markets and suggests the possible role that a global financial supervisor might play in providing effective regulation of international financial markets. The first part discusses the nature of systemic risk in the international financial system and the necessity for international Minimum Standards of prudential supervision for banking institutions. The second part examines the efforts of the Basel Committee on Banking Supervision to devise non‐binding international standards for managing systemic risk in financial markets. Recent financial crises in Asia, Russia and Latin America suggest, however, that informal efforts by international bodies such as the Basel Committee are inadequate to address the risk of systemic failure in financial systems. The third part therefore argues that efficient international financial regulation requires certain regulatory functions to be performed by a global supervisor acting in conjunction with national regulatory authorities. These functions should involve the authorisation of financial institutions, generation of rules and standards of regulatory practice, surveillance of financial markets, and coordination with national authorities in implementing and enforcing such standards.

Small and medium contractors (SMCs) play a significant role in socioeconomic development. Their strong links with other sectors of the economy have a multiplier effect on any country’s growth. However, the construction business, especially for SMCs, is not an easy business as several roadblocks affect their sustenance. This study aims to examine the factors affecting the sustainable competency of SMCs emerging from the business environment in which the Ethiopian construction industry (CI) operates.

A literature review was conducted to identify 39 factors arising from five core sources (i.e. government policies, regulatory frameworks, industry networks, competitive bidding culture and construction technology and innovation). A questionnaire survey was conducted to gather industry stakeholders’ perceptions of the identified factors, and the results were analyzed using descriptive statistics.

Findings indicate 37 significant factors affecting sustainable competency arising from five sources, and the top factors from their respective sources were unfavorable financial policy; unfavorable economic regulatory framework; lack of trust between parties in the industry; inability of SMCs to compete with bigger construction companies; and poor linkages between CI and research and development institutions. Furthermore, factor analysis identified 12 components, and the top ones were competition and uncertainties in the supply chain; unsuitable bidding environment; and ineffective industry networks.

The findings will contribute to the body of knowledge on the factors affecting the sustainable competency of SMCs in the Ethiopian CI. They also indicate priority areas of competitiveness improvement and have implications for decision-makers.

This study aims to seek to fill a gap in regulatory impact assessment in developing countries by presenting an analysis of how formal regulation impact on the efficiency and productivity of financial non-governmental organisations (FNGOs) in Ghana. Much has been written about the formal financial sector, but very little is known about the lower end of microfinance and the impact of formal prudential regulation on FNGOs providing microfinance services. The Bank of Ghana (BOG), nevertheless, in the year 2011, extended formal prudential regulation to FNGOs without any empirical basis. This study uses regulatory theories and empirical evidence to aid in the evaluation of whether formal prudential regulation is appropriate for FNGOs operating within the microfinance sector.

Empirical evidence derived from FNGOs, regulatory agents, consumers and financial lawyers within the Greater Accra and Ashanti Regions of Ghana served as the basis of the analysis in this study. Descriptive statistics, frequency counts and percentage scores, were used to analyse the data collected.

The existing structures of FNGOs in Ghana are unsuitable for formal prudential regulation. The BOG does not have adequate staffing and funding to supervise and monitor the microfinance activities of FNGOs. Formal prudential regulation could impede growth and efficient delivery of microfinance services.

The BOG is the only regulatory agency responsible for regulating the financial market in Ghana, thus access to officers with knowledge in the regulatory regime was very limited.

The study revealed in depth information about FNGOs, microfinance and the impact of formal prudential regulation on FNGOs.

The study is the first to use empirical studies and theories of regulation to assess the impact of extending formal prudential regulation to FNGOs in Ghana. Data from the regulator, the regulated and consumers, the key players in any regulatory process, served as the basis of the analysis in the study resulting in the unravelling of in-depth information on the regulation of FNGOs.

This paper aims to contribute to research on corporate governance in regulated sectors, with emphasis in the field of activity of foreign investors through the ownership structure and legal system that regulates companies in Brazil.

In the first moment, the investigation had a quantitative approach of relational nature. Based on the data about the valuation of actions, statistical methods were applied to a secondary database containing measurable information provided by the organizations that operate the Brazilian stock-market and documentary evidence provided by the companies. In the second moment, a qualitative approach was adopted, resorting on the use of semi-structured interviews with investors and agents of the sector.

The results lead to two paths: presenting the perspective that foreign investors play a key role in improving governance practices because foreign ownership mitigates agency problems, provides adequate follow-up and optimizes the use of corporate resources; and evidencing the existence of a mitigation of operational risks in the face of the various obligations imposed by the concession contract with the regulatory agency, without direct interference under the ownership structure of regulated companies.

The literature portrays a distinct economic scenario in Brazil, where stock control is pulverized and mechanisms of corporate governance and scope of action of investors and regulated sectors are well-defined and implemented.

A great part of the studies from this field discusses the same object: the impact of the adoption of corporate governance mechanisms on selected efficiency indicators or on the value of the companies' actions. This investigation, on the other hand, targeted a differentiated approach so that its contribution would lie in the investigation under the influence of the regulation on the legal attributions and the performance of the investors how many conflicts between the other shareholder/regulatory body, as the control measures import by the regulatory agent the concessionaires of the Brazilian highways and transportation sector.

The identification of the presence of foreign investors as a determinant for: better performance of companies in Brazilian regulated sector in terms of market valuation; better mitigation of requirements with the regulatory framework for the agencies that regulate the concession sector, targeting a reduction in the asymmetry of information and transparency among all stakeholders.

The fact that Brazil is an emerging country that lacks a rigid legal system and corruption-control measures in corporate environments and public sectors, stresses the importance of the application of the “Best Codes of Corporate Governance Practices” in the main developed countries. This also stresses the need for effective supervisory bodies that contribute to a better financial performance of companies, guaranteeing investors the legal system.

The purpose of this paper is to debate on how to achieve, in countries that have invested in the North American model of the regulatory state, the greatest efficiency in creating norms for the organization of public and private activities in order to guarantee the autonomy and technical impartiality required for the proper functioning of regulatory agencies.

This paper describes the development of the legal framework regarding regulatory agencies in Brazil. The research was based on bibliographical data, media reports, and the Brazilian Supreme Court decisions.

The regulation dissemination through regulatory agencies in Brazil has given rise to a series of controversies concerning the limits of their performance and the extent of their technical discretion. According to the findings, it is concluded that these independent agencies should be guided by the following four pillars: (1) the legal rule of fixed-term in office; (2) the principle of lesser control intensity (deference) of the agency acts; (3) the prohibition of contingency of agencies’ budgetary resources; and (4) the prohibition of agency powers suppression. Otherwise, the institutional capacity of agencies will be diminished and their neutral action in technical matters will be compromised.

This paper shows how enhanced autonomy and technical impartiality can be useful for better regulatory governance in other countries, preventing them from suffering from the same problems that have occurred in Brazil.

The purpose of this paper is to examine the regulatory options available to control advertising on the internet.

The analytical framework for this study was derived from Harker and colleagues' work on effective advertising self‐regulation (ASR). The key areas of the legal regulatory framework, the self‐regulatory framework, prevailing community standards, and industry compliance were examined in the context of the internet; the focus being the achievement of acceptable advertising. Dick's convergent interviewing techniques were utilised during a number of depth interviews with key stakeholders and the data were analysed using Strauss' and Strauss and Corbin's guidelines.

This qualitative approach allowed great insight to be gained in a “messy” area. A number of regulatory options are suggested, ranging along a continuum from full control to no control. Whilst controlling advertising on traditional media is moving towards best practice, the dynamic context of the internet provides new challenges for all stakeholders in terms of consumer protection.

A significant limitation of any research concerned with the internet relates to the currency of information, and this is difficult to account for in this dynamic environment.

Whilst there have been many research papers describing approaches to traditional ASR, there is little to guide us when it comes to options for controlling online advertising. This paper has attempted to push the research boundary a little further in this regard and is meant to be a paper that will hopefully stimulate other research colleagues to challenge ideas and the traditional view.

The purpose of this study is to investigate the challenges and potential improvement mechanisms for the development of technology and innovation in the Ethiopian construction industry.

In this study both quantitative and qualitative research approaches were adopted. While a structured questionnaire was used for the quantitative data collection, semi-structured interview was used for qualitative data collection. In analyzing the quantitative data, mean score was used to rank the variables and factor analysis was conducted to identify the underlying dimensions of the research constructs. The qualitative data was analyzed thematically focusing on specific objectives of the study; the challenges and improvement mechanisms of technology and innovation development.

The findings indicate that the major challenges are nature of the industry and lack of awareness, weak capacity of companies and the regulatory instruments, inadequate tender duration and poor monitoring and controlling practice. The suggested improvement mechanisms are effective coordination of the process and awareness creation, promoting technology and innovation in the procurement process and technology and innovation consideration in construction project registration.

Effectiveness of construction industry improvement programmes is affected by inappropriateness of the adopted implementation mechanisms. Understanding the operating environment; the enablers and potential barriers, is important for the success of any envisioned improvement programme. The improvement framework proposed by this study indicates the potential intervention areas and improvement mechanisms to effectively induce and enhance technology and innovation development in the construction industry. Major pillars of the improvement framework are improving regulatory framework, raising awareness and stakeholder engagement and continual monitoring and controlling of the practice.

Building on current debates on innovation, knowledge diffusion, and institutional dynamics, we explore the influence of national innovation systems (NISs) on international innovation collaborations in Latin America, focusing on intellectual property rights (IPR), access to scientific knowledge and regulatory quality.

We analyze data from 17 Latin American countries from 2002–2015 using time-series panel analysis to evaluate how different NIS elements affect regional cooperation for innovation.

Regulatory quality can improve international collaboration by compensating for weaker IPR and scientific knowledge bases. Interestingly, while both IPR and scientific knowledge inherently promote cooperation, stronger regulatory environments may diminish the effectiveness of IPR protections, suggesting a potential substitution effect.

The study offers actionable insights for policymakers in developing regions to help them craft more effective policies for collaboration in innovation that consider the balancing act between regulatory quality and other NIS elements.

This research shifts focus from the conventional analysis of how developing countries attract collaboration from developed nations to how they can foster innovation among themselves, providing a unique perspective on the interaction between institutional factors and innovation capabilities within the Latin American context.