The Economic Global Crisis, the Financial Reporting and the Corporate Governance

Gheorghe V. Lepadatu ()
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Gheorghe V. Lepadatu: Dimitrie Cantemir Christian University

International Journal of Academic Research in Accounting, Finance and Management Sciences, 2012, vol. 2, issue 1, 124-127

Abstract: Starting from the global nature of the current crisis, we have considered as being necessary to point out its effects on the financial reporting and, implicitly, on the requirements for the corporate governance consolidation in order to ensure the economic and financial stability desired. The macroeconomic context favored the start of the crisis, but the analysis made by experts showed other reasons for this, out of which some of the most important are the corporate governance weaknesses and the insufficient means for protection against risks. We consider that these are reasons which ask for an objective analysis and a correct assessment of the regulatory process but also of the practice in the area corroborated with an invitation for a responsible behavior both of the entities management but also of the representatives of the accounting profession so much involved in the correctness of the accounting reporting and therefore in the financial health of the entities.

Keywords: Financial reporting; corporate governance; internal control; accounting conformity; accounting convergence (search for similar items in EconPapers)
JEL-codes: M41 (search for similar items in EconPapers)
Date: 2012
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Persistent link: https://EconPapers.repec.org/RePEc:hur:ijaraf:v:2:y:2012:i:1:p:124-127

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