IDEAS home Printed from https://ideas.repec.org/a/ers/journl/vxxiy2018i4p3-19.html
   My bibliography  Save this article

Financial Reporting in Maltese Voluntary Organisations

Author

Listed:
  • Peter J. Baldacchino
  • Matthew Abela
  • Simon Grima

Abstract

In this paper we analyse the adequacy and effectiveness of the legal aspects of the current Maltese voluntary organisations' (VOs) regulatory framework, the guidelines and best practices being adopted by Maltese charities in compiling their financial reports. In doing this we also look at the key operational internal control and other challenges being faced by such VOs in complying with the existing regulatory framework. Data is also gathered through the responses of an online questionnaire, which we distributed to enrolled VOs and through responses of semi-structured interviews carried out with the financial administrators of eleven large charities. Findings reveal that while the existing VO regulatory framework was a considerable improvement, changes are still necessary since gaps still remain and need to be resolved. This study contributes to the enhancement of the Maltese VO regulation by identifying and highlighting these gaps and providing recommendations to mitigate and resolve them.

Suggested Citation

  • Peter J. Baldacchino & Matthew Abela & Simon Grima, 2018. "Financial Reporting in Maltese Voluntary Organisations," European Research Studies Journal, European Research Studies Journal, vol. 0(4), pages 3-19.
    • Handle: RePEc:ers:journl:v:xxi:y:2018:i:4:p:3-19
    as

    Download full text from publisher

    File URL: https://www.ersj.eu/dmdocuments/2018_XXI_4_01.pdf
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Peter J Baldacchino & Rosalene Caruana & Simon Grima & Frank H. Bezzina, 2017. "Selected Behavioural Factors in Client-Initiated Auditor Changes: The Client-Auditor Perspectives," European Research Studies Journal, European Research Studies Journal, vol. 0(2A), pages 16-47.
    2. Edwards, Michael & Hulme, David, 1996. "Too close for comfort? the impact of official aid on nongovernmental organizations," World Development, Elsevier, vol. 24(6), pages 961-973, June.
    3. Peter J. Baldacchino & Chantelle Camilleri & Simon Grima & Frank H. Bezzina, 2017. "Assessing Incentive and Monitoring Schemes in the Corporate Governance of Maltese Co-operatives," European Research Studies Journal, European Research Studies Journal, vol. 0(3A), pages 177-195.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Damian Walczak & Dorota Krupa, 2020. "Exchange Transactions and Socioeconomic Determinants of Solidarity: The Case of Post-Solidarity Poland," European Research Studies Journal, European Research Studies Journal, vol. 0(3), pages 364-377.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Md. Mominur Rahman & Bilkis Akhter, 2021. "The impact of investment in human capital on bank performance: evidence from Bangladesh," Future Business Journal, Springer, vol. 7(1), pages 1-13, December.
    2. Peter Nunnenkamp & Hannes Öhler, 2012. "Funding, Competition and the Efficiency of NGOs : An Empirical Analysis of Non‐charitable Expenditure of US NGOs Engaged in Foreign Aid," Kyklos, Wiley Blackwell, vol. 65(1), pages 81-110, February.
    3. repec:ers:journl:v:volumexxi:y:2018:i:issue4:p:622-636 is not listed on IDEAS
    4. Levine, Arielle, 2002. "Convergence or Convenience? International Conservation NGOs and Development Assistance in Tanzania," World Development, Elsevier, vol. 30(6), pages 1043-1055, June.
    5. Dodi Permana, 2017. "Toward the Best Model of Strategy Implementation in Indonesian Islamic Banking from the Lens of Strategic Clarity," European Research Studies Journal, European Research Studies Journal, vol. 0(4B), pages 3-15.
    6. Urquía-Grande, Elena & Estébanez, Raquel Pérez & Alcaraz-Quiles, Francisco José, 2022. "Impact of Non-Profit Organizations’ Accountability: Empirical evidence from the democratic Republic of Congo," World Development Perspectives, Elsevier, vol. 28(C).
    7. Roberts, Susan M. & Jones III, John Paul & Frohling, Oliver, 2005. "NGOs and the globalization of managerialism: A research framework," World Development, Elsevier, vol. 33(11), pages 1845-1864, November.
    8. Burford, Gemma & Velasco, Ismael & Janoušková, Svatava & Zahradnik, Martin & Hak, Tomas & Podger, Dimity & Piggot, Georgia & Harder, Marie K., 2013. "Field trials of a novel toolkit for evaluating ‘intangible’ values-related dimensions of projects," Evaluation and Program Planning, Elsevier, vol. 36(1), pages 1-14.
    9. repec:ers:journl:v:volumexxi:y:2018:i:issue4:p:255-267 is not listed on IDEAS
    10. Axel Dreher & Peter Nunnenkamp & Hannes Öhler & Johannes Weisser, 2009. "Acting Autonomously or Mimicking the State and Peers? A Panel Tobit Analysis of Financial Dependence and Aid Allocation by Swiss NGOs," CESifo Working Paper Series 2617, CESifo.
    11. Godfrey, Martin & Sophal, Chan & Kato, Toshiyasu & Vou Piseth, Long & Dorina, Pon & Saravy, Tep & Savora, Tia & Sovannarith, So, 2002. "Technical Assistance and Capacity Development in an Aid-dependent Economy: The Experience of Cambodia," World Development, Elsevier, vol. 30(3), pages 355-373, March.
    12. Renard, Robrecht & Molenaers, Nadia, 2006. "L’aide internationale et la quête élusive du developpement socio-economique au Sénégal," IOB Discussion Papers 2006.09, Universiteit Antwerpen, Institute of Development Policy (IOB).
    13. Horst Zimmermann & Thilo Pahl, 2002. "Spending Efficiency of International Financing Institutions: Determinants of Efficiency and a Research Design," Environment and Planning C, , vol. 20(3), pages 341-355, June.
    14. Cecilia Ugaz, 1997. "Decentralization and the Provision and Financing of Social Services: Concepts and Issues," WIDER Working Paper Series wp-1997-130, World Institute for Development Economic Research (UNU-WIDER).
    15. Aldashev, Gani & Marini, Marco & Verdier, Thierry, 2014. "Brothers in alms? Coordination between nonprofits on markets for donations," Journal of Public Economics, Elsevier, vol. 117(C), pages 182-200.
    16. repec:ers:journl:v:xx:y:2017:i:3a:p:538-553 is not listed on IDEAS
    17. Sofia Yasmin & Roszaini Haniffa & Mohammad Hudaib, 2014. "Communicated Accountability by Faith-Based Charity Organisations," Journal of Business Ethics, Springer, vol. 122(1), pages 103-123, June.
    18. repec:ers:journl:v:volumexxi:y:2018:i:issue4:p:480-492 is not listed on IDEAS
    19. Büsgen, M., 2006. "NGOs and the search for Chinese civil society environmental non-governmental organisations in the Nujiang campaign," ISS Working Papers - General Series 19180, International Institute of Social Studies of Erasmus University Rotterdam (ISS), The Hague.
    20. Axel Dreher & Florian Mölders & Peter Nunnenkamp, 2010. "Aid Delivery through Non‐governmental Organisations: Does the Aid Channel Matter for the Targeting of Swedish Aid?," The World Economy, Wiley Blackwell, vol. 33(2), pages 147-176, February.
    21. Ghio, Alessandro & Verona, Roberto, 2022. "Unfolding institutional plurality in hybrid organizations through practices: The case of a cooperative bank," The British Accounting Review, Elsevier, vol. 54(4).
    22. Verdier, Thierry & Marini, Marco & Aldashev, Gani, 2010. "Brothers in Alms? Coordination between NGOs on Markets for Development Donations," CEPR Discussion Papers 8109, C.E.P.R. Discussion Papers.
    23. Sophie Bacq & Kimberly A. Eddleston, 2018. "A Resource-Based View of Social Entrepreneurship: How Stewardship Culture Benefits Scale of Social Impact," Journal of Business Ethics, Springer, vol. 152(3), pages 589-611, October.
    24. repec:ers:journl:v:vi:y:2018:i:4:p:14-33 is not listed on IDEAS
    25. Martinez, Daniel E. & Cooper, David J., 2017. "Assembling international development: Accountability and the disarticulation of a social movement," Accounting, Organizations and Society, Elsevier, vol. 63(C), pages 6-20.

    More about this item

    Keywords

    Voluntary Organisations and Charities; Guidelines; standards and Regulations; Maltese Regulatory Framework; Accountability and Responsibility; Operational Internal Controls; IFRS and GAPSME.;
    All these keywords.

    JEL classification:

    • L30 - Industrial Organization - - Nonprofit Organizations and Public Enterprise - - - General
    • L31 - Industrial Organization - - Nonprofit Organizations and Public Enterprise - - - Nonprofit Institutions; NGOs; Social Entrepreneurship

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:ers:journl:v:xxi:y:2018:i:4:p:3-19. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Marios Agiomavritis (email available below). General contact details of provider: https://ersj.eu/ .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.