Pertinent to mention, Sanusi (2010) argues that the major factor that significantly contributes to the financial crisis in the Nigerian economy is the presence of a weak corporate governance surrounded by inadequate disclosure
and transparency in reporting, inadequate risk management frameworks for identifying, measuring and controlling the risks associated with the activities of deposit money banks (DMBs) and other financial institutions among others which placed them (financial service firms) to be operating at the risk of failure.
As recommended by the SEC, most public companies have management disclosure
committees that are tasked with considering the materiality of information and determining the company's disclosure
obligations on a timely basis.
Last year was the year of the disclosure
. Under the Employee Retirement Income Security Act (ERISA) Section 408(b)(2)
Dubai Financial Market (DFM) has launched its online disclosure
solution 'Efsah' (the Arabic synonym of "Disclosure
"); a secure web-based application enabling listed companies to publish their disclosures
swiftly and effectively.
" has long been a guiding principle for financial reporting.
What does this say about the state of financial disclosure
, and would it benefit more from enhancement rather than expansion?
Corey (1990) also distinguishes between two types of self-disclosure--the disclosure
of personal difficulties, unresolved problems, aims and wishes, strong and weak points of the personality, positive and negative experience to other group members; and the ability to share reactions to the events occurring immediately in the group.
After a person receives an intimate or non-intimate disclosure
, it is highly likely that the person will respond by reciprocating with the same amount, topic, and even intimacy level of the original disclosure
(Omarzu; McAllister and Bregman).
As of July 1, the Federal Trade Commission finally conceded unequivocally that franchise systems in the United States may deliver their disclosure
documents electronically for FTC purposes.
Current mortgage disclosure
forms fail to convey key mortgage costs and terms to many consumers, but better disclosures
can be created to help consumers understand the costs and terms of mortgages so they can make informed decisions about loan products, concluded a Bureau of Economics report released by the Federal Trade Commission (FTC).
Any reasonable written document that acknowledges the client is aware that the information may be disclosed and confirms in writing the client's permission for the disclosure
. The approval always should be secured in advance of the disclosure