Corporate Governance dan
Etika Business
Buku Wajib
• Darwin, A, 2006, Akuntabilitas, kebutuhan,
pelaporan dan pengungkapan CSR bagi
perusahaan di Indonesia, Economics
Business Accounting Review, Departemen
Akuntansi FEUI, Edisi III.
• Duska, R. F. dan B. S. Duska, 2007,
Accounting Ethics, Blackwell Publishing
(DD).
Buku Wajib
• IICD, 2007, Research Report on Indonesian
Corporate Governance Scorecard, IICD.
• Komite Nasional Kebijakan Governance, 2006,
Pedoman Umum Good Corporate Governance
Indonesia (KNKG).
• OECD, 2004, OECD Principles of Corporate
Governance (OECD).
• Rezaee, Zabihollah, 2009, Corporate
Governance and Ethics, John Wiley (ZR).
Buku Wajib
• Utama & Leonardo, 2006, Audit Committee
Composition, Control of Majority Shareholders
and Their Impact on Audit Committee
Effectiveness: Indonesia Evidence, Jurnal Riset
Akuntansi Keuangan Indonesia, Januari.
• Aturan-aturan yang terkait dengan corporate
governance, seperti UU Perseroan RI, SK
Meneg BUMN 103 dan 117, dan berbagai
aturan Bapepam/BEJ.
Tugas
• Tugas Kelompok
Peserta dibagi menjadi 5 kelompok dan setiap
kelompok bertugas membuat 5 laporan yang
menganalisis dan mengevaluasi lima prinsip
GCG dalam prakteknya di satu perusahaan
terbuka di Indonesia, dengan menggunakan
informasi publik yang tersedia (Laporan
Tahunan, Website, Press Release, dst). Laporan
dikumpulkan pada saat pembahasan.
Kelompok akan mempresentasikan laporan
tersebut di kelas untuk dibahas bersama.
Tugas
• Tugas Kasus
Setiap peserta bertugas membuat makalah yang
membahas dan mengulas kasus yang akan
didiskusikan di kelas. Pembahasan dikaitkan
dengan topik yang akan didiskusikan di kelas.
Bobot Penilaian
•
•
•
•
•
•
Partisipasi
Makalah Kasus
Makalah kelompok
Presentasi
Ujian Tengah
Ujian Akhir
15%
20%
20%
10%
17,5%
17,5%
Plagiarisme
• Plagiarisme  mengambil kata-kata atau
kalimat atau teks orang lain tanpa
memberikan acknowledgment (dalam
bentuk sitasi) yang secukupnya
Plagiarisme
• Minimal harus mencantumkan sumber
kutipan di teks terkait dan di daftar
pustaka
• Sanksi plagiarisme: nilai 0 untuk tugas
makalah
• Harus melampirkan dan menandatangani
Statement of Authorship di setiap tugas
kuliah
KUTIPAN
• Ada tiga sistem kutipan (pengacuan):
Pengacuan Berkurung, Catatan Kaki, dan
Catatan Akhir
KUTIPAN
• Pengacuan Berkurung: menempatkan
informasi tentang identitas lsuatu sumber
rujukan langsung terpadu dalam teks dalam
bentuk singkat
• Lazimnya hanya nama pengarang dan tahun
terbit, dan jika perlu nomor halaman
• Catatan Kaki (footnote): menempatkan
informasi tentang identitas suatu sumber
rujukan di bawah teks pada halaman yang
sama dengan pengacuannya
KUTIPAN
• Catatan Akhir (endnote):
menempatkan informasi tentang
identitas lengkap suatu sumber
rujukan di bagian akhir sebuah
artikel
CATATAN KAKI
• Catatan kaki atau catatan akhir biasa
digunakan untuk memberikan keterangan
tambahan yang agak menyimpang dari
alur utama kalimat atau paragraf terkait.
The Free Market System and
Business
The Free Enterprise System and
Capital Markets
• Free enterprise system has transformed
private ownership of businesses to
dispersed public ownership of corporate
shares
• Busines play an important role in creating
safe, efficient, and competitive capital
markets to ensure economic growth, low
costs of capital, enterpreneurship,
innovation, and job creation
The Free Enterprise System and
Capital Markets
• Investor protection in providing the most
cost-effective capital is essential to the
survival and competitiveness of capital
markets
– Protected through appropriate regulations,
effective corporate governance, and optimal
market mechanisms
• Responsibility of all participants, including
investors, corporations, regulators,
government entities, and society at large
The Free Enterprise System and
Capital Markets
• The Wealth of Nations (Adam Smith,
1776)  free and competitive market
economy enables corporations to
efficiently and effectively use society’s
resources in creating value, and market
mechanisms prevent corporations from
abusing their power and defrauding their
stakeholders
The Free Enterprise System and
Capital Markets
• Recent financial scandals prove that
market mechanisms by themselves may
not be adequate to monitor, control, and
discipline business affairs, and corporate
governance reforms were needed to
correct the perceived failures of market
mechanisms
The Role and Responsibility of
Business Society
• Corporations are viewed as creators of value
for all concerned stakeholders
• Corporations obtain their financial capital,
labor capital, and skills (managerial capItal)
from their stakeholders, conduct value-added
activities, and return sustainable and
enduring value to their stakeholders
• All stakeholders contribute to the successful
operation of corporations in creating value
The Role and Responsibility of
Business Society
• The primary mission of public companies is
regarded as creating enduring value, and the
corporate governance structure is designed to
ensure the accomplishment of the mission
• The mission of corporate governance:
– Value creation  shareholder value creation and
enhancement through the development of long-term
strategies to ensure sustainable and enduring
operational performance
– Value protection  accountability of the way the
company is managed and monitored to protect the
interests of shareholders and other stakeholders
The Role and Responsibility of
Business Society
• The First Tier: Investors
– Shareholders are the primary stakeholders
– Many argue that the primary purpose of the
company is to maximize shareholder wealth
– Corporate governance and reforms are aimed
at protecting shareholders rights
The Role and Responsibility of
Business Society
• The Second Tier: Creditors
– Ownership structure: debt and equity
– Debt holders demand some control over
managerial actions by entering into debt
covenant contracts designed to protect their
interests and determine whether breaches of
contractual provisions have occured
The Role and Responsibility of
Business Society
• The Third Tier: Others
– Employees, suppliers, customers,
government, community, and society
– Communication with all stakeholders is
central to improving decision-making
processes, strengthening relationship,
gathering important information, and building
an accord among dissimilar views
The Role of Financial Information
in The Capital Markets
• The sustainability and financial health of
public companies, public trust, and
investor confidence in financial reports
plays a crucial role in the integrity and
efficiency of the capital market and the
economic growth and prosperity of the
nation
The Role of Financial Information
in The Capital Markets
• Reliability, accuracy, and transparency of
financial information play a vital role in the
efficiency, integrity, and safety of capital
markets
– The role of individuals involved in the
corporate financial reporting supply chain
(board of directors, the audit committee,
maagement, auditors)
– Financial disclosure
The Role of Financial Information
in The Capital Markets
• Accurate financial information assists
investors with making informed, aound
investment decisions
• High-quality financial information improves
investor decisions, and in turn, efifciency,
liquidity, and safety of the capital markets,
which may result in prosperity and
economic growth for the nation
Introduction to Corporate
Governance
• Corporate governance has gained
renewed interest and relevance in recent
years and is now emerging as a central
issue within public companies
Introduction to Corporate
Governance
• Effective corporate governance ensures
corporate accountability, enhances the
reliability and quality of public financial
information, enhances the integrity and
efficiency of the capital market, and thus,
improves investor confidence
• Corporate governance is ultimately about
leadership and accountability
Corporate Culture and Integrity
• Corporate culture is continuously affected by its
leadership in setting a ‘right tone at the top’ and
is often informal in establishing powerful norms
and standards that influence behavior
• Compliance culture requires the establishment
and implementation of proper programs,
policies, and procedures to effectively comply
with applicable regulations, standards, and best
practices
– Ethical culture
Corporate Accountability
• The multiple bottom lines (MBL) objectives
of economic, social, ethical, and
environmental performance