The role of accounting in the corporate personhood debate

Bob Peace

International Journal of Critical Accounting, 2012, vol. 4, issue 3, 265-271

Abstract: A recent US Supreme Court decision, Citizens United v. Federal Elections Committee affirmed the treatment of corporations as persons under the law. This interpretation of the Constitution provides corporations with the same freedoms that protect individual citizens. Of most importance is the First Amendment guarantee of freedom of speech. This decision allows corporations to exercise their substantial financial power, as political power, to influence elections. The court's opinion also offers corporations a constitutional shield against unannounced searches under the Fourth Amendment. This means that health and safety inspections of corporate property must be done pursuant to a court authorised warrant. International accounting firms owe much of their existence and success to business corporations. As a consequence, accounting firms, through their affiliation with lobbying concerns and friend of the court brief advocates, appear to have exerted an influence on this issue with the courts.

Keywords: corporations; US Constitution; corporate personhood; accounting; public policy; USA; United States; corporate freedoms; corporate influence. (search for similar items in EconPapers)
Date: 2012
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