Summary
Contents
Subject index
The Third Edition of this successful text includes extensive changes, based on feedback from students and lecturers. There is a discussion of auditing and the law beyond the issue of third-party liability; and more coverage of recent developments in audit methodologies and techniques. New chapters include a survey of developments in audit automation, a discussion of the nature and development of the audit market, both in the United Kingdom and the European Union, and an assessment of the impact on auditing of the Cadbury Report on corporate governance, with particular attention to the role of audit committees. Each chapter includes questions for discussion.
Corporate Governance and Audit Committees
Corporate Governance and Audit Committees
What is Corporate Governance?
Corporate governance has received close scrutiny over the past few years due to the debate surrounding the recommendations of the Cadbury Committee (1992) on the Financial Aspects of Corporate Governance. The term ‘corporate governance’ is much used but rarely defined. Tricker (1984, p. 7) distinguished corporate governance from management by observing that, if management is about running the company, corporate governance is about ensuring that the company is run properly, and the Financial Times (6 April 1992) suggested that ‘Corporate governance is all about finding ways to make companies run better.’ Keasey and Wright (1993) distinguished corporate governance, which concerns the structures and processes associated with production, decision-making, control and other activities within ...
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