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Accountable governance in corporate groups: The interrelationship of Law and Accounting

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Hadden, Tom (2012) Accountable governance in corporate groups: The interrelationship of Law and Accounting. Australian Accounting Review , 22 (2). pp. 117-128. [Journal article]

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DOI: 10.1111/j.1835-2561.2012.00167.x

Abstract

The complex structures of multinational corporate groups and their many subsidiaries facilitate the concealment of internal financial transactions and the profitability and taxation of operations in different jurisdictions. Current provisions for corporate governance by independent directors and auditors in ultimate holding companies fail to provide relevant information for most major stakeholders. Lawyers and accountants need to develop new structures for corporate governance and corporate social responsibility at every level, especially in respect of national taxation, to meet the proper interests of shareholders, employees, local communities and national governments, and to assist in the transition from centrally controlled and often abusive, to more participatory and responsible capitalism. Auditors have a key role in this and should be required to report on issues of variability in financial statements and to carry out special audits on matters of major concern.

Item Type:Journal article
Faculties and Schools:Faculty of Social Sciences
Faculty of Social Sciences > School of Law
Research Institutes and Groups:Transitional Justice Institute
ID Code:23470
Deposited By:Mrs Lisa Thompson
Deposited On:09 Oct 2012 09:50
Last Modified:05 Nov 2012 15:54

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