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

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  • Armada Nunes Namuele

    (University of Evora, Portugal)

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.

Suggested Citation

  • Armada Nunes Namuele, 2018. "The Opening of the Stock Market of Angola and the Challenges for Companies at the Level of the Financial Reporting System and Corporate Governance," Proceedings of the 7th International RAIS Conference, February 19-20, 2018 002, Research Association for Interdisciplinary Studies.
    • Handle: RePEc:smo:fpaper:002
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    References listed on IDEAS

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