Improving Corporate Governance and Regulatory Compliance Through Business Law : The Role of Advanced Data Analytics in Streamlining Monitoring and Reporting Processes
Keywords:
Corporate Governance, Regulatory Compliance, Data Analytics, Business Law, Legal Technology, Compliance MonitoringAbstract
This paper explores the critical role of advanced data analytics in enhancing corporate governance and regulatory compliance through the lens of business law. Corporate governance, which includes principles of accountability, transparency, and responsibility, serves as the backbone of effective business operations. Regulatory compliance ensures that organizations adhere to legal frameworks designed to protect stakeholders and maintain ethical practices. As global regulatory landscapes evolve, organizations face increasing challenges in ensuring compliance with complex, dynamic legal standards. This paper examines how data analytics can streamline monitoring, reporting, and auditing processes, making them more efficient and effective. By leveraging machine learning, artificial intelligence, and predictive analytics, businesses can proactively identify and mitigate compliance risks in real time, enhancing their governance strategies. Case studies demonstrate how organizations have successfully integrated analytics tools to automate compliance reporting and reduce legal risks. This paper also addresses the broader implications of adopting data analytics, emphasizing how it will reshape the future of corporate governance and legal practice. The findings suggest that organizations must invest in cutting-edge analytics technologies and foster a culture of data-driven decision-making to optimize their compliance practices. Ultimately, the integration of data analytics is poised to revolutionize regulatory compliance, ensuring that businesses can more effectively navigate legal complexities and build trust with stakeholders.
Downloads
References
Abbey, A. B. N., Olaleye, I. A., Mokogwu, C., Olufemi-Phillips, A. Q., & Adewale, T. T. (2024). Developing inventory optimization frameworks to minimize economic loss in supply chain management. Journal of Supply Chain Optimization, 18(1), 78-92.
Abiola, O. A., Okeke, I. C., & Ajani, O. (2024a). Integrating taxation, financial controls, and risk management: a comprehensive model for small and medium enterprises to foster economic resilience. International Journal of Management & Entrepreneurship Research. P-ISSN, 2664-3588.
Abiola, O. A., Okeke, I. C., & Ajani, O. (2024b). The role of tax policies in shaping the digital economy Addressing challenges and harnessing opportunities for sustainable growth. International Journal of advanced Economics. P-ISSN, 2707-2134.
ADEKUNLE, S. A., ADEKUNLE, J. E., OSUNBOR, I. P., OKERE, O. O., KOKOGHO, E., & FOLORUNSO, G. T. (2024). Sustainability performance in the Nigerian table water industry: Key determinants and policy implications. Nigerian Academy of Management Journal, 19(1), 10-21.
Adepoju, P., Hussain, N., Austin-Gabriel, B., & Afolabi, A. (2024). AI and predictive modeling for pharmaceutical supply chain optimization and market analysis. ResearchGate. In.
Adepoju, P., Hussain, N., Austin-Gabriel, B., & Afolabi, A. (2024). Data science approaches to enhancing decision-making in sustainable development and resource optimization. International Journal of Engineering Research and Development, 20(12), 204-214.
Adewumi, A., Nwaimo, C., Ajiga, D., Agho, M., & Iwe, K. (2023). AI and data analytics for sustainability: A strategic framework for risk management in energy and business. International Journal of Science and Research Archive, 3(12), 767-773.
Agbede, O. O., Akhigbe, E. E., Ajayi, A. J., & Egbuhuzor, N. S. Assessing economic risks and returns of energy transitions with quantitative financial approaches.
Agho, G., Aigbaifie, K., Ezeh, M., & Isong, D. Oluseyi. Advancements in green drilling technologies: Integrating carbon capture and storage (CCS) for sustainable energy production. World J Adv Res Rev. 2022; 13 (2): 995–1011. In.
Agho, G., Ezeh, M., Isong, M., Iwe, D., & Oluseyi, K. Sustainable pore pressure prediction and its impact on geo-mechanical modelling for enhanced drilling operations. World J Adv Res Rev. 2021; 12 (1): 540–57. In.
Akinbola, O. A., Otokiti, B. O., Akinbola, O. S., & Sanni, S. A. (2020). Nexus of Born Global Entrepreneurship Firms and Economic Development in Nigeria. Ekonomicko-manazerske spektrum, 14(1), 52-64.
Akintobi, A., Okeke, I., & Ajani, O. (2023). Innovative solutions for tackling tax evasion and fraud: Harnessing blockchain technology and artificial intelligence for transparency. Int J Tax Policy Res, 2(1), 45-59.
Alex-Omiogbemi, A. A., Sule, A. K., Michael, B., & Omowole, S. J. O. (2024). Advances in AI and FinTech Applications for Transforming Risk Management Frameworks in Banking.
Alex-Omiogbemi, A. A., Sule, A. K., Omowole, B. M., & Owoade, S. J. (2024a). Conceptual framework for advancing regulatory compliance and risk management in emerging markets through digital innovation.
Alex-Omiogbemi, A. A., Sule, A. K., Omowole, B. M., & Owoade, S. J. (2024b). Conceptual framework for optimizing client relationship management to enhance financial inclusion in developing economies.
Alex-Omiogbemi, A. A., Sule, A. K., Omowole, B. M., & Owoade, S. J. (2024c). Conceptual framework for women in compliance: Bridging gender gaps and driving innovation in financial risk management.
Alozie, C. E., Ajayi, O. O., Akerele, J. I., Kamau, E., & Myllynen, T. The Role of Automation in Site Reliability Engineering: Enhancing Efficiency and Reducing Downtime in Cloud Operations.
Alozie, C. E., Ajayi, O. O., Akerele, J. I., Kamau, E., & Myllynen, T. Standardization in Cloud Services: Ensuring Compliance and Supportability through Site Reliability Engineering Practices.
Alozie, C. E., Akerele, J. I., Kamau, E., & Myllynen, T. (2024). Capacity Planning in Cloud Computing: A Site Reliability Engineering Approach to Optimizing Resource Allocation.
Alozie, C. E., Collins, A., Abieba, O. A., Akerele, J. I., & Ajayi, O. O. (2024). International Journal of Management and Organizational Research.
Amos, A. O., Adeniyi, A. O., & Oluwatosin, O. B. (2014). Market based capabilities and results: inference for telecommunication service businesses in Nigeria. European Scientific Journal, 10(7).
Apeh, C. E., Odionu, C. S., Bristol-Alagbariya, B., Okon, R., & Austin-Gabriel, B. (2024a). Advancing workforce analytics and big data for decision-making: Insights from HR and pharmaceutical supply chain management. Int J Multidiscip Res Growth Eval, 5(1), 1217-1222.
Apeh, C. E., Odionu, C. S., Bristol-Alagbariya, B., Okon, R., & Austin-Gabriel, B. (2024b). Ethical considerations in IT Systems Design: A review of principles and best practices.
Apeh, C. E., Odionu, C. S., Bristol-Alagbariya, B., Okon, R., & Austin-Gabriel, B. (2024c). Reviewing healthcare supply chain management: Strategies for enhancing efficiency and resilience. Int J Res Sci Innov, 5(1), 1209-1216.
Arbogast, S. V. (2013). Resisting corporate corruption: Cases in practical ethics from Enron through the financial crisis: John Wiley & Sons.
Austin-Gabriel, B., Hussain, N., Adepoju, P., & Afolabi, A. (2024). Large language models for automating data insights and enhancing business process improvements. International Journal of Engineering Research and Development, 20(12), 198-203.
Babalola, F., Kokogho, E., Odio, P., Adeyanju, M., & Sikhakhane-Nwokediegwu, Z. (2021). The evolution of corporate governance frameworks: Conceptual models for enhancing financial performance. International Journal of Multidisciplinary Research and Growth Evaluation, 1(1), 589-596.
Babalola, F. I., Kokogho, E., Odio, P. E., Adeyanju, M. O., & Sikhakhane-Nwokediegwu, Z. (2023). International Journal of Social Science Exceptional Research.
Bristol-Alagbariya, B., Ayanponle, O., & Ogedengbe, D. (2022). Strategic frameworks for contract management excellence in global energy HR operations. GSC Advanced Research and Reviews, 11(3), 150-157.
Chintoh, G. A., Segun-Falade, O. D., Odionu, C. S., & Ekeh, A. H. (2024). International Journal of Social Science Exceptional Research.
Chit, I., & Vasudevan, R. (2024). Navigating Compliance: Strategic Approaches Across Industries An Examination of Organizational Structures and Responses to Regulatory Changes.
Eboigbe, E. O., Farayola, O. A., Olatoye, F. O., Nnabugwu, O. C., & Daraojimba, C. (2023). Business intelligence transformation through AI and data analytics. Engineering Science & Technology Journal, 4(5), 285-307.
Edoh, N. L., Chigboh, V. M., Zouo, S., & Olamijuwon, J. (2024). Improving healthcare decision-making with predictive analytics: A conceptual approach to patient risk assessment and care optimization.
Efunniyi, C. P., Abhulimen, A. O., Obiki-Osafiele, A. N., Osundare, O. S., Agu, E. E., & Adeniran, I. A. (2024). Strengthening corporate governance and financial compliance: Enhancing accountability and transparency. Finance & Accounting Research Journal, 6(8), 1597-1616.
Eicher, S. (2016). Corruption in international business: The challenge of cultural and legal diversity: CRC Press.
Ekeh, A. H., Apeh, C. E., Odionu, C. S., & Austin-Gabriel, B. Advanced Data Warehousing and Predictive Analytics for Economic Insights: A Holistic Framework for Stock Market Trends and GDP Analysis.
Elumilade, O. O., Ogundeji, I. A., Achumie, G. O., Omokhoa, H. E., & Omowole, B. M. (2021). Enhancing fraud detection and forensic auditing through data-driven techniques for financial integrity and security. Journal of Advanced Education and Sciences, 1(2), 55-63.
Ezeife, E., Kokogho, E., Odio, P. E., & Adeyanju, M. O. (2023). International Journal of Management and Organizational Research.
Farooq, A., Abbey, A. B. N., & Onukwulu, E. C. (2024). Inventory optimization and sustainability in retail: A conceptual approach to data-driven resource management. International Journal of Multidisciplinary Research and Growth Evaluation, 5(6), 1356-1363.
Hess, D. (2008). The three pillars of corporate social reporting as new governance regulation: Disclosure, dialogue, and development. Business Ethics Quarterly, 18(4), 447-482.
Hossain, M. Z., Hasan, L., & Hasan, M. H. (2024). Corporate Governance as a Global Phenomenon: Evolution, Theoretical Foundations, and Practical Implications. Journal of Financial Risk Management, 13(2), 342-375.
Hussain, N., Austin-Gabriel, B., Adepoju, P., & Afolabi, A. (2024). AI and predictive modeling for pharmaceutical supply chain optimization and market analysis. International Journal of Engineering Research and Development, 20(12), 191-197.
Ibidunni, A. S., William, A. A. A. A., & Otokiti, B. (2024). Adaptiveness of MSMEs during times of environmental disruption: Exploratory study of capabilities-based insights from Nigeria. In Innovation, Entrepreneurship and the Informal Economy in Sub–Saharan Africa: A Sustainable Development Agenda (pp. 353-375): Springer.
Jamali, D., Safieddine, A. M., & Rabbath, M. (2008). Corporate governance and corporate social responsibility synergies and interrelationships. Corporate governance: an international review, 16(5), 443-459.
Khaled, W., & Gond, J.-P. (2020). How do external regulations shape the design of ethical tools in organisations? An open polity and sociology of compliance perspective. human relations, 73(5), 653-681.
Kokogho, E., Odio, P. E., Ogunsola, O. Y., & Nwaozomudoh, M. O. (2024a). AI-Powered Economic Forecasting: Challenges and Opportunities in a Data-Driven World.
Kokogho, E., Odio, P. E., Ogunsola, O. Y., & Nwaozomudoh, M. O. (2024b). Conceptual Analysis of Strategic Historical Perspectives: Informing Better Decision Making and Planning for SMEs.
Kokogho, E., Odio, P. E., Ogunsola, O. Y., & Nwaozomudoh, M. O. (2024c). Transforming Public Sector Accountability: The Critical Role of Integrated Financial and Inventory Management Systems in Ensuring Transparency and Efficiency.
Liu, H., Cutcher, L., & Grant, D. (2017). Authentic leadership in context: An analysis of banking CEO narratives during the global financial crisis. human relations, 70(6), 694-724.
Mbunge, E., Fashoto, S. G., Akinnuwesi, B. A., Metfula, A. S., Manyatsi, J. S., Sanni, S. A., . . . Mnisi, P. M. (2024). Machine Learning Approaches for Predicting Individual’s Financial Inclusion Status with Imbalanced Dataset. Paper presented at the Computer Science On-line Conference.
Odionu, C., Adepoju, P., Ikwuanusi, U., Azubuike, C., & Sule, A. (2024). Strategic implementation of business process improvement: A roadmap for digital banking success. International Journal of Engineering Research and Development, 20(12), 399-406.
Odionu, C. S., Adepoju, P. A., Ikwuanusi, U. F., Azubuike, C., & Sule, A. K. (2024). The role of enterprise architecture in enhancing digital integration and security in higher education. International Journal of Engineering Research and Development, 20(12), 392-398.
Odionu, C. S., Bristol-Alagbariya, B., & Okon, R. (2024). Big data analytics for customer relationship management: Enhancing engagement and retention strategies. International Journal of Scholarly Research in Science and Technology, 5(2), 050-067.
OKERE, O. O., & KOKOGHO, E. Determinants of Customer Satisfaction with Mobile Banking Applications: Evidence from University Students.
Okon, R., Odionu, C. S., & Bristol-Alagbariya, B. (2024a). Integrating data-driven analytics into human resource management to improve decision-making and organizational effectiveness. IRE Journals, 8(6), 574.
Okon, R., Odionu, C. S., & Bristol-Alagbariya, B. (2024b). Integrating technological tools in HR mental health initiatives. IRE Journals, 8(6), 554.
Oladosu, S. A., Ige, A. B., Ike, C. C., Adepoju, P. A., Amoo, O. O., & Afolabi, A. I. (2022). Revolutionizing data center security: Conceptualizing a unified security framework for hybrid and multi-cloud data centers. Open Access Research Journal of Science and Technology, 5(2), 086-076.
Oladosu, S. A., Ike, C. C., Adepoju, P. A., Afolabi, A. I., Ige, A. B., & Amoo, O. O. (2024). Frameworks for ethical data governance in machine learning: Privacy, fairness, and business optimization. Magna Sci Adv Res Rev.
Olaleye, I. A., Mokogwu, C., Olufemi-Phillips, A. Q., & Adewale, T. T. (2024a). Optimizing procurement efficiency: Frameworks for data-driven cost reduction and strategic vendor management.
Olaleye, I. A., Mokogwu, C., Olufemi-Phillips, A. Q., & Adewale, T. T. (2024b). Real-time inventory optimization in dynamic supply chains using advanced artificial intelligence. Journal name if available.
Olamijuwon, J., & Zouo, S. J. C. (2024). Machine learning in budget forecasting for corporate finance: A conceptual model for improving financial planning.
Olamijuwon, O. J. (2020). Real-time Vision-based Driver Alertness Monitoring using Deep Neural Network Architectures. University of the Witwatersrand, Johannesburg (South Africa),
Olowe, K. J., Edoh, N. L., Zouo, S. J. C., & Olamijuwon, J. Review of predictive modeling and machine learning applications in financial service analysis.
Olufemi-Phillips, A. Q., Ofodile, O. C., Toromade, A. S., Igwe, A. N., & Adewale, T. T. (2024a). Stabilizing food supply chains with Blockchain technology during periods of economic inflation. Journal of Business & Supply Chain Management,(pending publication).
Olufemi-Phillips, A. Q., Ofodile, O. C., Toromade, A. S., Igwe, A. N., & Adewale, T. T. (2024b). Strategies for adapting food supply chains to climate change using simulation models. Strategies, 20(11), 1021-1040.
Omokhoa, H. E., Odionu, C. S., Azubuike, C., & Sule, A. K. (2024a). AI-powered fintech innovations for credit scoring, debt recovery, and financial access in microfinance and SMEs. Gulf Journal of Advance Business Research, 2(6), 411-422.
Omokhoa, H. E., Odionu, C. S., Azubuike, C., & Sule, A. K. (2024b). Leveraging AI and technology to optimize financial management and operations in microfinance institutions and SMEs. IRE Journals, 8(6), 676.
Onukwulu, E., Dienagha, I., Digitemie, W., & Egbumokei, P. (2022). Advances in digital twin technology for monitoring energy supply chain operations. IRE Journals.
Onukwulu, E. C., Dienagha, I. N., Digitemie, W. N., Egbumokei, P., & Oladipo, O. (2024). Redefining contractor safety management in oil and gas: A new process-driven model. Int J Multidiscip Res Growth Eval, 5(5), 2582-7138.
Onyebuchi, U., Onyedikachi, O., & Emuobosa, E. (2024a). The concept of big data and predictive analytics in reservoir engineering: The future of dynamic reservoir models. Comput Sci & IT Res J, 5(11), 2562-2579.
Onyebuchi, U., Onyedikachi, O., & Emuobosa, E. (2024b). Conceptual framework for data-driven reservoir characterization: Integrating machine learning in petrophysical analysis. Compr Res Rev Multidiscip Stud, 2(2), 1-13.
Oyedokun, O., Akinsanya, A., Tosin, O., & Aminu, M. A review of advanced cyber threat detection techniques in critical infrastructure: Evolution, current state, and future direction. Irejournals. com. 2024. In.
Oyenuga, A. O., Sam-Bulya, N. J., & Attah, R. U. (2024a). Bayesian and AI models for evaluating the economic feasibility of medicinal herb processing facilities. Int J Soc Sci Except Res, 3(1), 56-62.
Oyenuga, A. O., Sam-Bulya, N. J., & Attah, R. U. (2024b). Understanding economic and cultural drivers of alternative medicine adoption in the US.
Solomon, J. (2020). Corporate governance and accountability: John Wiley & Sons.
Sule, A., Adepoju, P., Ikwuanusi, U., Azubuike, C., & Odionu, C. (2024). Optimizing customer service in telecommunications: Leveraging technology and data for enhanced user experience. International Journal of Engineering Research and Development, 20(12), 407-415.
Sun, Y., Li, J., Lu, M., & Guo, Z. (2024). Study of the Impact of the Big Data Era on Accounting and Auditing. arXiv preprint arXiv:2403.07180.
Uchendu, O., Omomo, K. O., & Esiri, A. E. (2024). Conceptual advances in petrophysical inversion techniques: The synergy of machine learning and traditional inversion models. Engineering Science & Technology Journal, 5(11).
Umoga, U. J., Sodiya, E. O., Ugwuanyi, E. D., Jacks, B. S., Lottu, O. A., Daraojimba, O. D., & Obaigbena, A. (2024). Exploring the potential of AI-driven optimization in enhancing network performance and efficiency. Magna Scientia Advanced Research and Reviews, 10 (1), 368–378. In.
Van Ooijen, C., Ubaldi, B., & Welby, B. (2019). A data-driven public sector: Enabling the strategic use of data for productive, inclusive and trustworthy governance.
Zouo, S., & Olamijuwon, J. (2024). Financial data analytics in healthcare: A review of approaches to improve efficiency and reduce costs.
Downloads
Published
Issue
Section
License
Copyright (c) 2024 International Journal of Scientific Research in Humanities and Social Sciences
This work is licensed under a Creative Commons Attribution 4.0 International License.
