Corporate governance and compliance : preventative measure or just another fad?
Young, Angus (2005) Corporate governance and compliance : preventative measure or just another fad? In Proceedings of Delivering Crime Prevention : Making the Evidence Work, Australian Institute of Criminology, Carlton Crest Hotel, Sydney, pp. 1-22.
In the wake of recent corporate collapses, 'corporate governance' has received unprecedented levels of attention. It can be narrowly defined as how a company is directed and steered. The responsibility of steering a company is entrusted with the board of directors, who become the focus of governance mechanisms.Yet this is not as straightforward as it appears - Australia has experienced massive shifts in business regulations over the past two decades. One innovation in Australian business regulation is 'enforced self-regulation' which combines the benefits of voluntary self-regulation with the coercive power of the State, implemented via a compliance program. A possible hazard of compliance system is that management might treat this responsibility as a 'box ticking' exercise. Therefore effective governance and compliance entails more than setting up internal and regulatory mechanisms; the willingness of various stakeholders to collaborate is crucial. This suggests that managing relationships between stakeholders of an organization is the key to averting corporate collapses.
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|Item Type:||Conference Paper|
This conference was organised by the Australian Institute of Criminology in conjunction with the Crime Prevention Division of the New South Wales Attorney General's Department.
These papers/speeches are not peer reviewed and in particular, speeches may not necessarily meet the standards of the AIC's formal publication series. Their presence on the AIC website should not be consituted as an endorsement of the views contained within them.
|Keywords:||Corporate governance, Australia, Compliance law, Regulatory compliance|
|Subjects:||Australian and New Zealand Standard Research Classification > LAW AND LEGAL STUDIES (180000) > LAW (180100) > Corporations and Associations Law (180109)
Australian and New Zealand Standard Research Classification > LAW AND LEGAL STUDIES (180000) > LAW (180100) > Law and Society (180119)
|Divisions:||Current > QUT Faculties and Divisions > QUT Business School
Current > Schools > School of Accountancy
|Deposited On:||20 May 2010 03:08|
|Last Modified:||05 Jan 2011 13:59|
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