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

Tom Hadden

Research output: Contribution to journalArticle

3 Citations (Scopus)

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.
LanguageEnglish
Pages117-128
JournalAustralian Accounting Review
Volume22
Issue number2
DOIs
Publication statusPublished - 22 Jun 2012

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Corporate governance
Taxation
Interrelationship
Governance
Auditors
Corporate groups
Profitability
Financial statements
Capitalism
Multinationals
Jurisdiction
Local communities
Corporate Social Responsibility
Audit
Shareholders
Lawyers
Employees
Subsidiaries
Stakeholders
Independent directors

Cite this

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Accountable governance in corporate groups: The interrelationship of Law and Accounting. / Hadden, Tom.

In: Australian Accounting Review, Vol. 22, No. 2, 22.06.2012, p. 117-128.

Research output: Contribution to journalArticle

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