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Accountability has frequently been presented as a rational practice that can and should be implemented in all governance structures including civil society, economic institutions and organizations. In accounting, it has been identified as a primary objective of financial reporting. This paper examines two emotional states, i.e. guilt and shame that are likely to influence accountability. The paper argues that (a) accountability through information disclosure is a cultural practice closely associated with the emotional state of guilt that is common in certain cultures, and (b) in cultures where the emotional state of shame is common, accountability is likely to be weak and, people are likely to be negatively inclined towards information disclosure. Studies in psychology have also shown that “typical” shame experiences were common in collectivistic, large power‐distance and high uncertainty avoidance cultures; while “typical” guilt experiences were more pronounced in individualistic, small power distance and low uncertainty avoidance cultures.

Australian cricket has traditionally been an exemplar of hyper-masculine sporting conservatism. However, cricket, as with a number of Australian sports, has recently introduced an elite women's league. Despite growth in participation and funding of women's cricket, it remains poorly understood at the elite level and particularly its fans. Drawing on the concept of gender-bland sexism (Musto et al., 2017), we investigate differences in fan engagement and perceptions of men's and women's cricket matches. Through a case study of Australian Women's Big Bash cricket team the ‘Sydney Sixers’, this chapter explores how women's cricket was experienced on match-day by fans, as well as perceptions of the value and quality of attending women's professional cricket. We first undertook participant observation at matches to understand how women's cricket was delivered, experienced and engaged with by fans. These observations informed a survey which was distributed to club members. Our findings suggest that there continue to be noticeable differences in the presentation of women's matches when compared to their male equivalents, providing evidence for the presence of gender-bland sexism in areas other than sports media.

The economic crisis that hit many Asian countries in 1997 has changed the face of Asian politics and business. It contributed to the downfall of many political leaders e.g. President Suharto of Indonesia and the collapse of many corporate giants. The collapse of the East‐Asian and South‐East Asian economies highlighted a crisis of political and corporate governance (International Monetary Fund staff report, 1998). Most of the literature on the crisis has prescribed greater accountability, openness, participation and transparency in political and corporate governance as the solution to the problems of political and corporate governance in Asian countries (International Monetary Fund Staff Report 1998; Economist, 1998). However as highlighted by Velayutham (1999a; b), the assumptions that underlie the dimensions of accountability are inconsistent with Asian values. It is argued that responsibility is discharged in Asian societies through different mechanisms, e.g., shame, purification and sacrifice, that is consistent with collective orientations within Asian societies. In this paper it is argued that Asian societies are facing a crisis of governance and responsibility, and this can be attributed to the lack of development of the moral emotion of guilt and the decline of shame in modern Asian societies. It is pointed out that while guilt was never an important feature of Asian societies, shame was the main moral emotion that contributed to good governance and responsible action in Asian societies. It is then argued that recent change in Asian societies such as the image of gossip in modern society, urbanization, residential mobility, cultural heterogeneity and the obsolescence of the concept of honor have contributed to the slow decline of the moral emotion of shame in Asian societies. The paper concludes with an appeal to the development of communitarianism and reintegration within Asian societies.

This paper seeks to identify and describe the shape of the professional accounting body in the new millennium. It is argued that the professional accounting body is at the brink of major changes at the turn of the century, due to its traditional role of self‐regulation being threatened by other institutions within the accounting domain. The paper identifies the professional accounting body in the twenty‐first century to be similar to that of a franchise. This, it is highlighted, would lead to the emergence of the global franchise.

This paper seeks to highlight the contribution of the Catholic practice of confession and the Protestant Reformation to the development of the modern concept of accountability.

A historical analysis of the literature is carried out to identify the contribution of key features of the practice of confession and the reformation of the Church to the development of accountability in Protestant societies.

The study highlights that the practice of confession is similar to accountability and the Catholic Church developed the emotion of guilt necessary for accountability. The Protestant Reformation provided for the further development of accountability to its modern form, through the restructuring of the practice of confession and the extension of the principles of accountability to itself. The conditions necessary for the practice of accountability such as popular power of the people, the concept of contracts and the emotion of guilt developed within the above environment.

This paper highlights the historical development of accountability to provide some insights into understanding of the environment and conditions necessary for the spread of accountability, which is becoming increasingly important in the current economic environment characterized by global integration of markets.

The purpose of this paper is to critically discuss the participation of sovereign wealth funds (SWFs) in the corporate social responsibility (CSR) programmes. Sovereign wealth funds in emerging economies are often involved in corporate social responsibility. However, the 1 Malaysian Development Berhad (1MDB) scandal illustrates the possible use of SWF as a vehicle for corruption and abuse.

The primary objective is to develop good governance practices of CSR by SWFs that could limit corrupt practices. A case study approach is adopted to investigate the CSR involvement of two SWFs – Norway’s Government Pension Fund Global (GPFG) and Abu Dhabi Fund for Development (ADFD).

The finding shows that SWFs should not be directly involved in CSR. It is proposed that independent Non-government Organisations (NGOs), through a competitive funding model, could serve the CSR purpose of SWFs more effectively and bring socio-economic changes in emerging economies.

The funding model identifies the expected outcomes, priorities and uses of the funds. The funding committee should also be independent of the Board and transparent in its allocations.

Smith (2003) responded to the Sarbanes‐Oxley Act by suggesting that government rules and regulations cannot preserve a profession where people lack integrity. He suggests that leaders in the profession and academe “call individuals to excellence” and “inculcate in practitioners and students ethical behaviour and personal integrity”. This study investigates whether auditors’ attitudes towards creative accounting are associated with ethical judgement, their evaluation of the quality of financial reporting and their perceptions of factors that influence preparers of financial statements to use aggressive accounting techniques. The results of this study reveal a significant relationship between auditors’ assessments of the relevance and reliability (but not ethical judgement) of reported information and their attitudes to creative accounting. Some insight is gained into auditors’ perceptions of the factors that influence preparers to use creative accounting in South Africa.

This paper aims to examine the relationship between corporate social responsibility (CSR) and shareholder wealth arising from announcement returns of security issuance from a frontier market. It also explores the role of business group affiliation (BGA) on this relationship.

The study uses short-term scenarios to examine the link between CSR and shareholder wealth using the event study methodology which helps us mitigate the reverse causality problems related to studies of the relationship between CSR and firm value. Abnormal returns surrounding the security issue announcements were generated using the market model.

This paper finds that security issuers with high CSR scores are associated with higher shareholder value. However, this paper finds that CSR activities of security issuers with BGA are value-destroying which is consistent with the agency perspective of CSR.

This study is limited to only one nascent market, namely the Colombo Stock Exchange.

This study documents that CSR and BGA are important determinants, among others, of stock price reactions to security offerings in emerging markets.

Singapore, a multiracial nation, where 80% of the population resides in mid- to high-rise public housing estates, provides an interesting milieu to study neighbouring in the context of high-density living. Its geopolitical position and socio-demographic features – such as an ageing demographic, changing family structure, and increasingly diverse population – have rendered social cohesion an integral aspect of national and neighbourhood-level policies, programmes, and institutions. However, these programmes and policies are built on a relatively static national narrative around mutuality, harmony, and community bonding that rarely takes into consideration current social, temporal, and spatial constructions of neighbouring. It is in this light that we re-examine the social construction of ‘neighbours’ and ‘neighbourliness’ in Singapore using a holistic quality of life (QoL) framework to better understand both institutional and lived forms of neighbourliness. A mixed-methods research approach, comprising 243 semi-structured interviews (161 with a Q method component) and a large-scale survey comprising 3,134 participants, was conducted to explore and assess current norms, attitudes, and practices around neighbouring. Our findings show a dominant set of practices around neighbouring that are polite, minimal, and often referred to as ‘hi/bye’. we note two particular perspectives of the relative importance of neighbours in contributing to QoL and consider the effects of hi/bye neighbouring upon an older group of residents for whom neighbours are still important. This deeper understanding around neighbouring in public housing estates also brings relevant insights to related social cohesion policies and programmes.

The purpose of this paper is to evaluate the arguments that the assumptions underlying conventional accounting are incompatible with Islamic values, hence the need for new accounting objectives and assumptions.

The paper adopts an analytic approach based on a combination of archival and bibliographic data sources.

It is shown that this belief of incompatibility can be traced to misconceptions about the assumptions underlying “conventional accounting”. It is then argued that the neglect of Islamic accounting in Islamic countries could be attributed to Islamic accounting not meeting the needs of users rather than acculturation or economic dependency.

The study relies solely on the literature and highlights important issues in the area but does not provide any empirical evidence. The implications are significant for the future development of Islamic accounting and the economies of Islamic countries. The objective of accounting is to provide useful information for economic decision-making and the adoption of wrong assumptions would limit the usefulness of accounting information.

Few scholars have questioned the assumptions underlying Islamic accounting, and this debate is important for the continued development of Islamic accounting. The paper also attempts to contribute to the debate on the poor adoption of Islamic accounting.