Accounting quality, auditing, and corporate governance.

Accounting Horizons,  January, 2003  by Eugene A.Imhoff

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SYNOPSIS: To achieve orderly capital markets around the world, corporations must provide investors and creditors with relevant, reliable, and timely information. Accounting, auditing, and the structure of corporate governance that they operate within are essential components in the flow of information to capital market participants. However, recent accounting failures have pointed out the need for substantive improvements in these components. The academic accounting community can play a role in stimulating change aimed at enhancing market efficiency through commentary and scientific-based research that provide direction for change.

The purpose of this commentary is threefold. First I review the historical development ...