ac312 auditing lecture 10 the auditor and corporate governance
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AC312 AUDITING
Lecture 10
THE AUDITOR AND CORPORATE GOVERNANCE
Corporate Governance
WHAT IS CORPORATE GOVERNANCE?
PURPOSE OF CORPORATE GOVERNANCE
Corporate Governance
Global Phenomenon
Corporate Governance
Developments in the UK
• Cadbury Report (1992)
• Greenbury Report (1995)
• Hampel Report (1998)
• Turnbull Report (1999)
Corporate Governance
• Scope of Application
• Enforcement of Application
Corporate Governance
Hampel Report Provisions
• Directors
• Directors’ Remuneration
• Relations with Shareholders
• Accountability and Audit
• Institutional Investors
Corporate Governance
Auditors’ Role
• Review certain provisions of Combined Code
Corporate Governance
ISSUES
• Internal Control (incl internal audit)
• Going concern
• Non-exec directors
• Audit Committees
• Remuneration Committees
Corporate Governance
• HAS THE NEW CORPORATE GOVERNANCE FRAMEWORK BEEN SUCCESSFUL?
• POSSIBLE FUTURE DEVOPMENTS
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