Corporate Governance and Accountability: What Role for the Regulator, Director, and Auditor?

Corporate Governance and Accountability: What Role for the Regulator, Director, and Auditor?

Corporate Governance and Accountability: What Role for the Regulator, Director, and Auditor?

Corporate Governance and Accountability: What Role for the Regulator, Director, and Auditor?

Synopsis

"Dan Bavly takes a fresh look at how business is supervised and how that system can be improved. Drawing on his years of company board and auditing experience, Bavly analyzes why the average director cannot do his job, and he shows how a complete, but feasible, overhaul of the way company boards function can help solve this problem. Bavly then goes on to explore, as an insider, the profession of accounting and to show why the CPA should be considered an endangered species. For each specific flaw in the system, Bavly provides a practical remedy. The general message is the need for constant reassessment and, perhaps, a plea to cut all the agencies of corporate governance back to human proportions." Title Summary field provided by Blackwell North America, Inc. All Rights Reserved

Excerpt

Corporate governance has assumed a higher profile in recent years, and demands for greater accountability are commonplace in the modern age. A heightened awareness of the need for and value of accountability accompany higher expectations for performance and conduct.

In the United States, the search for greater accountability takes many forms— more frequent testing of teachers and students; increased regulatory requirements by all levels of government; a vigilant press seeking ever more information while diminishing the privacy of public officials. At the same time, Americans are committed to the quest for efficiency—in the way we communicate, manufacture, travel, and transact business.

Ours is a restless age, determined to examine and reinvent, to press for more and better. These multiple objectives have led many to reconsider the role of government regulators and corporate management, of directors and shareholders, of internal and outside auditors.

In the field of corporate governance, U.S. practices tend to lead the world. Thus, observers from abroad have a stake in examining American developments. Dan Bavly is such an observer. Having spent a lifetime in the study and practice of business and accounting, he has ventured from his native Israel to the United States to assess and comment on the broad canvas of corporate governance and accountability. The questions he raises are large and timely. Moreover, the subjects to which he addresses himself are rapidly evolving and changing.

Three sets of questions guide his study. First, what levels and types of accountability are desirable? At what cost? For what gain?

Second, in achieving an appropriate level of accountability, what are the appropriate roles for market mechanisms, government regulators, corporate directors, and auditors, both internal and independent?

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