Where were the gatekeepers? Corporate collapse and the role of accountants

Cooper, B 2005, 'Where were the gatekeepers? Corporate collapse and the role of accountants' in T. Campbell (ed.) Ethics and Auditing, ANU Press, Canberra, pp. 159-176.


Document type: Book Chapter
Collection: Book Chapters

Title Where were the gatekeepers? Corporate collapse and the role of accountants
Author(s) Cooper, B
Year 2005
Title of book Ethics and Auditing
Publisher ANU Press
Place of publication Canberra
Editor(s) T. Campbell
Start page 159
End page 176
Subjects Auditing and Accountability
Summary While it is generally acknowledged that the key to the recent spate of corporate collapses lies in the lack of effective corporate governance, there are a number of other factors that need to be considered in understanding this phenomenon. These include the new age of materialism that developed during the 1990s and the consequent corporate and investor greed, which contributed to the spiral that led to the demise of corporations such as Enron, WorldCom, HIH, One.Tel and the global accounting firm Arthur Andersen. Compounding these developments in the corporate environment was the behaviour of the traditional gatekeepers, including accountants in particular, who betrayed the public trust. The accounting profession is now paying the price, with increased government regulation and a credibility crisis that will take many years to resolve.
Copyright notice This edition © 2005 ANU E Press
Keyword(s) audit
ethics
corporate collapse
ISBN 1920942254
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