Governance by Boards and Audit Committees

Glenn Rioux
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Glenn Rioux: Université du Québec à Montréal

Chapter 3 in Board Directors and Corporate Social Responsibility, 2012, pp 39-59 from Palgrave Macmillan

Abstract: Abstract Recent years have seen a large number of financial and accounting scandals in several countries, leading to billions of dollars of lost wealth and substantial loss of employment, and shaking the faith in our economic system. Examples of companies that have been destroyed or seriously harmed as a result of these failures include Enron, its auditor Arthur Andersen, Worldcom, Tyco, Cinar, Parmalat, Nortel, and Lehman Brothers. What caused these failures? In large part, ineffective governance by boards of directors and audit committees.

Keywords: Corporate Governance; Board Member; Audit Committee; Effective Governance; Abnormal Accrual (search for similar items in EconPapers)
Date: 2012
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DOI: 10.1057/9780230389304_3

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