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NCJ Number: 200313 Find in a Library
Title: Auditors and the Permissive Society: Market Failure, Globalisation and Financial Regulation in the U.S.
Journal: Risk Management: An International Journal  Volume:5  Issue:2  Dated:2003  Pages:17-26
Author(s): Gary Fooks
Date Published: 2003
Page Count: 10
Publisher: http://www.perpetuitypress.com 
Type: Research (Theoretical)
Format: Article
Language: English
Country: United Kingdom
Annotation: Using Enron as a case study, this article examines the limitations of detecting corporate fraud through an auditing process.
Abstract: In order to explore the limitations of the auditing process on its ability to uncover corporate fraud, the author examines the historical development of the accounting profession, the legal context in which it operates, and the incongruous corporate colonization within government and financial regulation. The author also examines whether the transnational nature of corporate operations helps to disguise corporate misdeeds and raise the largest corporations to a level of operations that functions beyond the law. The author concludes that the current difficulty in regulating large, transnational corporations is rooted in the regulatory structure itself, not in the transnational nature of the corporations. Indeed, the author contends that governmental agencies are capable of exercising control over large corporations, but lack the regulatory structure necessary to do so. References, notes
Main Term(s): Corporate crimes; Multinational corporations
Index Term(s): Accounting methods; Federal regulations; State regulations; Transnational Crime
To cite this abstract, use the following link:
http://www.ncjrs.gov/App/publications/abstract.aspx?ID=200313

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