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The purpose of this study is to enhance our understanding of the effect of the liquidity position on going concern reporting during the COVID-19 liquidity crisis. The first possible effects of COVID-19 as they occur in 2020 are enclosed in the financial statements of 2019 as an event after the balance sheet date. By studying a sample of 579 financial statements of private (non-listed) companies that are subject to a statutory audit in the Netherlands, we find that both liquidity indicators and government grant applications result in a higher propensity to issue a mandatory going concern paragraph in the financial statements. Additionally, we find no evidence that liquidity levels prior to the COVID-19 pandemic crisis affect an application for a government grant.

The key to effective crisis management lies not so much with the writing of detailed manuals (that have a low likelihood of being used, and an even lower likelihood of being useful) and practising location evacuations as with structured and continuous learning processes designed to equip key managers with the capabilities, flexibility and confidence to deal with sudden and unexpected problems/events – or shifts in public perception of any such problems/events.

This chapter examines how an adequate Internal Compliance Program (ICP) for the Royal Netherlands Airforce (RNLAF) was developed. In order to create an adequate ICP, it is essential to determine which legal and other aspects should be incorporated in the ICP framework. To deduct these relevant aspects of the environment the RNLAF operates in, a Political, Economic, Social, Technological and Legal (PESTL) analysis is used. Furthermore, the different ICP frameworks are compared in order to make a combination of them to create the most adequate ICP for the RNLAF. We conclude that this should be a combination of mainly US ICP Frameworks as of the fact that theRNLAF is mostly US orientated. TheCOSO model as an internationally widely used best practice framework is the core. The combination of the PESTL analysis, the legal framework and the chosen ICP frameworks together result in an 11 pillars ICP, which we consider is the most adequate ICP for the RNLAF. Leading principle in combining all the aforementioned elements, is that the ICP has to be tailored to its organizations' characteristics (e.g. nature of items, size of the organization, national, regional and global footprint).We understand that there is no one-size-fits-all approach, but one needs to design an ICP that specifically fits the given organizational structure, its size and daily operations.

Chapter 1. Introduction -- Chapter 2. Economics of the Arms Trade: What Do We Know? -- Chapter 3. Export Control Regimes - Present-day Challenges and Opportunities -- Chapter 4. Case: Non-compliance at Fokker Services -- Chapter 5. International Export Control Law - Mapping the Field -- Chapter 6. Exploring the Multifaceted Relationship of Compliance and Integrity - The Case of the Defence Industry -- Chapter 7. Do Economic Sanctions Cause Sudden Growth Collapses? -- Chapter 8. Datasets for Combat Aircraft -- Chapter 9. Does Legal Origin Matter for International Arms Control Ratification? -- Chapter 10. Case: Sharing Parts and Services among NATO Partners -- Chapter 11. Limits on the Extraterritoriality of Export Control Legislation -- Chapter 12. Contract Boundary-spanning Governance Initiatives in the International Defense Supply Chain of the F-35 Program -- Chapter 13. Effectiveness of Arms Control: The Case of Saudi Arabia -- Chapter 14. Case: Dronebuster; Handling Non-compliance to ITAR -- Chapter 15. Developing an Adequate Internal Compliance Program for the Royal Netherlands Air Force Command -- Chapter 16. Arms Exports and Export Control of the Dutch Republic 1585-1621.

This is open access volume of the NL ARMS offers an interdisciplinary view on the domain of Compliance and Integrity in International Military Trade (CIIMT), integrating defence economics, international law, arms export control frameworks and policies, information management, organizational sciences and ethics. Although, in academia, and from an interdisciplinary perspective, CIIMT constitutes a relatively novel research domain, across private and public defence-related sectors, the subject evokes high levels of attention and interest, instigating a need for critical thinking, reflection and creativity to address ensuing multi-faceted issues and problems. The Faculty of Military Sciences at the Netherlands Defence Academy extends an in-house MSc programme on CIIMT, which, by integrating practice-based and scientific-based knowledge, aims to contribute to this need. The MSc programme on CIIMT is concerned with exploring, analysing, understanding, explaining, controlling and improving the military dimension in international military trade. More particularly, CIIMT studies managerial questions regarding strategic trade control of military and dual-use goods and services. CIIMT ties in with the Netherlands Defence Academy's vision on scientific education, embedded in the reflective practitioners' paradigm uniting both management and leadership skills needed to decide and operate in high-tension and high-risk knowledge intensive environments. The Faculty of Military Sciences uses the reflective practitioners' paradigm to refer to critical thinking, reflection and Bildung that characterize its thinking doers, the so-called Thinking Soldiers, either at the academic Bachelor's or Master's level. In view of the complexity of the international trade regarding military and dual-use goods and services, the rapid evolvement of strategic trade control and frameworks, and its importance to procurement processes, defence organizations require innovative thinking doers, who, based on an in-depth understanding, from an interdisciplinary perspective can be expected to find - and take responsibility for - creative solutions to problems. NL ARMS 2021 comprises, amongst others, contributions from students and lecturers partaking in this programme. All the editors are affiliated with the Faculty of Military Sciences of the Netherlands Defence Academy in Breda, The Netherlands.

This year's volume of the Netherlands Annual Review of Military Studies (NL ARMS) offers an interdisciplinary view on the domain of Compliance and Integrity in International Military Trade (CIIMT), integrating defence economics, international law, arms export control frameworks and policies, information management, organizational sciences and ethics. Although in academia, and from an interdisciplinary perspective, CIIMT constitutes a novel research domain, across private and public defence-related sectors, the subject evokes high levels of attention and interest, instigating a need for critical thinking, reflection and creativity to address ensuing multi-faceted issues and problems. From 2017, the Faculty of Military Sciences (FMS) at the Netherlands Defence Academy (NLDA) has offered an in-house MSc programme on CIIMT, which, by integrating practice-based and scientific-based knowledge, aims to contribute to this need. The NL ARMS 2021 comprises, amongst others, contributions from students and lecturers partaking in this programme.