Akie Rusaktiva Rustam, - and I Made Narsa, - (2021) Good Corporate Governance: A Case Study of Family Business in Indonesia. The Journal of Asian Finance, Economics and Business, 8 (5). pp. 69-79. ISSN pISSN: 2288-4637, eISSN: 228-4645

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Abstract

Good Corporate Governance (GCG) has been implemented by companies, especially companies that have gone public. However, many local companies still have not applied the principles of GCG. This study examines the implementation of the CG concept which is not fully implemented in family businesses in Indonesia. Besides, this research also aims to find out the role of the Internal Audit function in enhancing GCG practices. This research is a qualitative study that uses in-depth interviews, observation, and data triangulation, to gather evidence from exploratory case studies conducted in three family business firms. The results of this study found that CG is essential for the successful run of family businesses. After analyzing the data, we developed a new theory called Islamic Integrity Governance. The Internal Auditor plays a key role in improving GCG and a vibrant and agile internal audit function can be an indispensable resource supporting sound corporate governance. The internal auditor provides objective assurance and insight on the effectiveness and efficiency of risk management, internal control, and governance processes. Therefore, the Internal Auditor is an important pillar for effective and efficient GCG implementation. This theory concludes several concepts such as THTCL (Trustworthy, Honest, Transparent, Creative, Loyal). Internal auditors are needed because the concept of control is useful for improving GCG in business.

Item Type:	Article
Uncontrolled Keywords:	Corporate Governance; Family Business; TARIF; Islamic Integrity Governance
Subjects:	H Social Sciences H Social Sciences > HG Finance H Social Sciences > HG Finance > HG4001-4285 Finance management. Business finance.Corporation finance
Divisions:	04. Fakultas Ekonomi dan Bisnis > Doktoral Ilmu Akuntansi
Creators:	Creators NIM Akie Rusaktiva Rustam, - UNSPECIFIED I Made Narsa, - NIDN0027066503
Depositing User:	Tn Sugeng Riyanto
Date Deposited:	11 Jan 2023 03:28
Last Modified:	11 Jan 2023 03:28
URI:	http://repository.unair.ac.id/id/eprint/119490
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