The Opening of the Stock Market of Angola and the Challenges for Companies at the Level of the Financial Reporting System and Corporate Governance

Armada Nunes Namuele ()
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Armada Nunes Namuele: University of Evora, Portugal

No 2, Proceedings of the 7th International RAIS Conference, February 19-20, 2018 from Research Association for Interdisciplinary Studies

Abstract: This research aims to analyse the main requirements in terms of financial reporting and corporate governance mechanisms established by the Capital Market Commission (CMC) of Angola to companies operating on the capital market of Angola. Using a qualitative investigation approach, we conclude that, overall, Angola is providing itself with a legal framework that is in convergence with the major orientations of the international organizations, regarding the requirements made to entities operating in the capital market, in terms of governance and oversight of those corporations, of their financial reporting process. However, there is an urgent need for the CMC of Angola to orient or even advocate the mandatory adoption of the IASB’s international accounting standards for entities operating (or intending to operate) in the capital market of Angola. At the Corporate Governance level, we found a fairly convergence of the principles and recommendations of the CMC regarding the OECD Corporate Governance principles.

Keywords: Corporate Governance; Financial Reporting; Capital Market; Angola (search for similar items in EconPapers)
Pages: 9 pages
Date: 2018-03
New Economics Papers: this item is included in nep-acc and nep-cfn
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Published in Proceedings of the 7th International RAIS Conference on Social Sciences, February 19-20, 2018, pages 24-33

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