Global Governance In Accounting

This book takes a look at the world of accounting and examines business's relationship with the state. It compares the accounting regulations in Germany, the UK and the US to provide evidence that privatization and convergence must be used with caution, at least in the world of accounting.

Over the past two decades, the role of business in global governance has become increasingly topical. Transnational business associations are progressively more visible in international policy debates and in intergovernmental institutions, and there is a heightened attention given to global policy-making in national and international business communities. This text examines and explains the multiple modes of engagement between business and global governance; it presents a variety of theoretical approaches which can be used to analyse them, along with empirical illustrations. Featuring a range of leading US and European scholars, it is divided into three parts that summarize different modes of engagement. Each section is illustrated by two or three studies that represent a distinct theoretical take on the issue with empirical illustrations. The book examines: Business as master and purpose of global governance Business as subject and opponent to global governance Business as partner and facilitator of global governance This book will be of interest to students and scholars of Business Studies, International Relations, International Politics and International Political Economy, as well as for practitioners – in the public and private sector.

Over the past several decades, as the pace of globalization has accelerated, operational issues of international coordination have often been overlooked. For example, the global financial crisis that began in 2007 is attributed, in part, to a lack of regulatory oversight. As a result, supranational organizations, such as the G-20, the World Bank, and the International Monetary Fund, have prioritized strengthening of the international financial architecture and providing opportunities for dialogue on national policies, international co-operation, and international financial institutions. Prevailing characteristics of the global economic systems, such as the increasing power of financial institutions, changes in the structure of global production, decline in the authority of nation-states over their national economy, and creation of global institutional setting, e.g., global governance have created the conditions for a naturally evolving process towards enabling national epistemic communities to create institutions that comply with global rules and regulations can control crises. In this context, transfer of technical knowledge from the larger organizations and its global epistemic communities to member communities is becoming a policy tool to “convince” participants in the international system to have similar ideas about which rules will govern their mutual participation. In the realm of finance and banking regulation, the primary focus is on transfer of specialized and procedural knowledge in technical domains (such as accounting procedures, payment systems, and corporate governance principles), thereby promoting institutional learning at national and local levels. In this volume, the authors provide in-depth analysis of initiatives to demonstrate how this type of knowledge generated at the international organization level, is codified into global standards, and disseminated to members, particularly in the developing world, where the legal and regulatory infrastructure is often lacking. They argue that despite the challenges, when a country intends to join the global system, its institutions and economic structures need to move toward the global norms. In so doing, they shed new light on the dynamics of knowledge transfer, financial regulation, economic development, with particular respect to supporting global standards and avoiding future crises.

After the global financial crisis, the topic of corporate governance has been gaining momentum in accounting and finance literature since it may influence firm and bank management in many countries. Corporate Governance and Its Implications on Accounting and Finance provides emerging research exploring the implications of a good corporate governance system after global financial crises. Corporate governance mechanisms may include board and audit committee characteristics, ownership structure, and internal and external auditing. This book is devoted to all topics dealing with corporate governance including corporate governance characteristics, board diversity, CSR, big data governance, bitcoin governance, IT governance, and governance disclosure, and is ideally designed for executives, BODs, financial analysts, government officials, researchers, policymakers, academicians, and students.

"World Rule is essential reading for scholars, managers, and policy makers interested in the rules that underpin the global economy. Koppell authoritatively and convincingly explains the origins of the dense network of global rules and elucidates their effects on both markets and practices; his theoretical insights into the politics of organizations are profound." Rawi Abdelal, Harvard Business School.

Academic Paper from the year 2021 in the subject Business economics - Investment and Finance, grade: Post graduate, , language: English, abstract: This study investigated the principles and criteria for transparency and disclosure in financial reporting and the accountant’s contribution facilitating its implementation. Corporate governance stands upon several principles, raised from the Cadbury report, Principles of Corporate Governance, and Sarbanes-Oxley Act of 2002. It includes rights and equitable treatment of shareholders, interests of stakeholders, role and responsibilities of the board, integrity and ethical behavior, and disclosure and transparency. Disclosure and transparency are one of the principles of corporate governance that aims to inform the public of the roles and responsibilities of the board and management in order to provide stakeholders with a level of accountability. It also includes the implementation of procedures to independently verify and safeguard the integrity of the company’s financial reporting..

New practices and institutions of global governance are often one of the most enduring consequences of global crises. The contemporary architecture of global governance has been widely criticized for failing to prevent the global financial crisis and Eurozone debt crises, for failing to provide robust international crisis management and leadership, and for failing to generate a consensus around new ideas for regulating markets in the broader public interest. Global Governance in Crisis explores the impact of the global financial crisis of 2008-2009 on the architecture and practice of contemporary global governance, and traces the long-term implications of the crisis for the future of the global order. Combining innovative theoretical approaches with rich empirical cases, the book examines how the impact of the global financial crisis has played out across a range of global governance domains, including development, finance and debt, trade, and security. This book was published as a special issue of Global Society.

The role of business in global governance is now widely recognized, but exploration of its role in global financial governance has been more haphazard than systematic. This book provides the first comprehensive analysis of the role of transnational financial associations (TFAs) in the organization of global finance. This book develops three theoretical themes of assemblage, functionality, and power as enrolment. These themes challenge approaches that treat financial power as emanating from a single location or force. Whilst existing approaches tend to treat TFAs as irrelevant or as merely transmitting power originating elsewhere, this book argues that power must be created by painstakingly assembling actors, networks, and objects that are often quite autonomous and working at cross purposes to one another--a process in which TFAs play a central role. The book explores these themes in chapters examining the roles of TFAs in interacting with public authorities, constructing global financial markets, and creating financial communities. The authors additionally analyse the roles of TFAs in the European Union, in the Global South, and in promoting goals other than profitability, including Islamic finance, microfinancing, savings banks and cooperatives. Making a distinctive contribution to our understanding of global finance and global governance, Transnational Financial Associations and the Governance of Global Finance is an important book for students and scholars of international political economy, finance, global governance and international relations.