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Role of External Auditors in Corporate Governance and Financial Reporting: Capital and Liquidity Requirements, and the Finance Theory

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Role of External Auditors in Corporate Governance and Financial Reporting: Capital and Liquidity Requirements, and the Finance Theory

4.85 35,620 ratings · 9,559 reviews
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Overview: This book is aimed at specifically directing the need for greater focus on regulations, compliance and enforcement processes in the financial system. Many instruments require complements – as this book will also illustrate. The essential role of external auditors in financial regulation has already been discussed extensively in many publications. This book is aimed at illustrating that certain capacities exist whereby the dual role of the external auditor (in undertaking internal audit roles as well as skilled persons roles) could be exercised to the optimal and maximum benefit of an entity or organisation. It also aims to accentuate on why a return to and focus on traditional auditing techniques, as well as auditing techniques which focus on internal controls is a much needed move. In so doing, it contributes to the extant literature by highlighting why such a move should be facilitated, as well as proposing means whereby such a move would be facilitated - namely, through a focus on benefits which could be derived where the external auditor is able to incorporate certain internal audit responsibilities. Attention is also drawn to safeguards which require due consideration if the ever important attributes of objectivity and independence, in auditing, are not to be compromised. Whilst the benefits and potentials of the dual roles assumed by external auditors are emphasized, as well as the need to ensure that safeguards operating to guard against a compromise of objectivity and independence are in place, a support of dual roles should also take into consideration the utmost priority of ethical values. The book, hence, also highlights the fact that such dual roles are appropriate in certain cases – as illustrated by justifications for limitations imposed by the Sarbanes Oxley Act and other relevant and applicable legislation – even though instances also persist where section 201 of Sarbanes-Oxley, with regard to internal audit outsourcing, may have been over-reactionary and may continue to hinder both companies and their auditors.Further, the roles assumed by capital regulations, with liquidity and leverage ratios as complements, will be highlighted in various chapters of this book – these being essential complements to a risk based capital framework implemented by the Basel Committee on Banking Supervision.Concentrated ownership structures have frequently being cited as means of addressing agency problems so the above remarks may appear surprising. However, evidence also exists to bolster the claim that insider dealings are better facilitated in environments involving concentrated ownership structures. Furthermore, external corporate control mechanisms appear to function better and more frequently in Anglo American dispersed ownership systems. The most recent Financial Crisis has illustrated that since the Efficient Markets Hypothesis cannot be relied upon, regulation is a necessary complement to effective monitoring. Complementary to such effective monitoring is also the need for the involvement of external auditors in the regulatory process – since there exists every likelihood for regulatory capture to occur.If perfect markets and perfect competition existed, and if there had been a world without externalities, perhaps markets would have been able to regulate themselves effectively and there would have been no need for regulation or external auditors.

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Pages N/A
Language Eng
Published April 28, 2014
ISBN 32764639
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Marianne Ojo
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Marianne Ojo
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Marianne Ojo is a writer and avid reader based in the Pacific Northwest. Before pursuing writing full-time, they spent over a decade working in education. When not working on their next book, Marianne Ojo can usually be found hiking with their dog or trying out new coffee shops in their neighborhood.

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Paul Taylor
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Honestly one of the most premium reading experiences lately. The author orchestrated a breathtaking finale. Truly a work of art. An effortless 5 stars.
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A profoundly satisfying read. The author orchestrated a breathtaking finale. Truly a work of art. I am now a lifelong fan of this author.
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Such a rich narrative. I became deeply invested in the protagonist's journey. A masterclass in storytelling. A true literary gem.
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I was completely blown away. The author orchestrated a breathtaking finale. Truly a work of art. An absolute must-read for connoisseurs of the genre.
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Absolutely brilliant. The pacing was impeccable and the characters felt incredibly authentic. I was completely immersed. An absolute must-read for connoisseurs of the genre.
Stephanie  Davis
Stephanie Davis August 19, 2024
I thoroughly enjoyed the elegance of it. It held my rapt attention, even when certain twists were telegraphed. A very distinguished novel.
Donald Mitchell
Donald Mitchell February 25, 2025
Honestly one of the most premium reading experiences lately. The author orchestrated a breathtaking finale. Truly a work of art. A true literary gem.
Joseph Campbell
Joseph Campbell October 26, 2024
Honestly one of the most premium reading experiences lately. The prose is exquisite. It’s accessible yet undeniably sophisticated. An absolute must-read for connoisseurs of the genre.
Thomas Harris
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A profoundly satisfying read. It strikes a perfect harmony of dialogue and world-building. Every chapter felt necessary. I will undoubtedly revisit this masterpiece.
Michelle Walker
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Absolutely brilliant. The pacing was impeccable and the characters felt incredibly authentic. I was completely immersed. An effortless 5 stars.
George Scott
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Masterpiece from start to finish. It strikes a perfect harmony of dialogue and world-building. Every chapter felt necessary. I will undoubtedly revisit this masterpiece.
Donald Mitchell
Donald Mitchell January 23, 2024
A very strong entry. The middle had a deliberate pace, but the climax was phenomenal. A wonderful companion for a quiet weekend.
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A profoundly satisfying read. The pacing was impeccable and the characters felt incredibly authentic. I was completely immersed. Worth every moment spent reading.
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Masterpiece from start to finish. I adored how the story unfolded. It kept me captivated without sacrificing elegance. An absolute must-read for connoisseurs of the genre.
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Sandra Clark March 03, 2025
Masterpiece from start to finish. I became deeply invested in the protagonist's journey. A masterclass in storytelling. I will undoubtedly revisit this masterpiece.
Stephanie  Davis
Stephanie Davis April 27, 2025
A very strong entry. The protagonist was compelling, though some subplots felt slightly overshadowed. A very distinguished novel.
Richard Scott
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Masterpiece from start to finish. The pacing was impeccable and the characters felt incredibly authentic. I was completely immersed. An effortless 5 stars.
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I was completely blown away. The prose is exquisite. It’s accessible yet undeniably sophisticated. A true literary gem.
Elizabeth Turner
Elizabeth Turner February 14, 2025
I was completely blown away. It strikes a perfect harmony of dialogue and world-building. Every chapter felt necessary. Worth every moment spent reading.
Emily Nelson
Emily Nelson July 25, 2024
A profoundly satisfying read. I became deeply invested in the protagonist's journey. A masterclass in storytelling. An effortless 5 stars.
Karen Rodriguez
Karen Rodriguez February 11, 2025
A very strong entry. The protagonist was compelling, though some subplots felt slightly overshadowed. A wonderful companion for a quiet weekend.
Jennifer Jones
Jennifer Jones July 22, 2024
Masterpiece from start to finish. The author orchestrated a breathtaking finale. Truly a work of art. An absolute must-read for connoisseurs of the genre.
Donald Carter
Donald Carter September 24, 2025
Not entirely to my refined tastes. It verged on repetitive in the second act. A more concise edit would have served it well. Suitable if your reading queue is empty.
Cynthia Perez
Cynthia Perez February 01, 2025
Took a moment to build, but the payoff was spectacular. The protagonist was compelling, though some subplots felt slightly overshadowed. A wonderful companion for a quiet weekend.
Richard Gonzalez
Richard Gonzalez July 12, 2024
Absolutely brilliant. The pacing was impeccable and the characters felt incredibly authentic. I was completely immersed. An effortless 5 stars.
Carol Jones
Carol Jones April 08, 2024
Such a rich narrative. The prose is exquisite. It’s accessible yet undeniably sophisticated. I will undoubtedly revisit this masterpiece.
Sarah Rivera
Sarah Rivera March 06, 2024
A decent, if standard, experience. The prose was competent, yet the characters lacked the depth I usually seek. A fair 3 stars.
Sandra Robinson
Sandra Robinson March 13, 2025
Took a moment to build, but the payoff was spectacular. The protagonist was compelling, though some subplots felt slightly overshadowed. I would highly recommend this to discerning readers.
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I was completely blown away. I adored how the story unfolded. It kept me captivated without sacrificing elegance. Worth every moment spent reading.
Sarah Diaz
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Took a moment to build, but the payoff was spectacular. The middle had a deliberate pace, but the climax was phenomenal. A very distinguished novel.
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Michelle Thompson
Michelle Thompson March 17, 2024
An acceptable diversion. It verged on repetitive in the second act. A more concise edit would have served it well. A fair 3 stars.
Jennifer Robinson
Jennifer Robinson November 17, 2025
Honestly one of the most premium reading experiences lately. I adored how the story unfolded. It kept me captivated without sacrificing elegance. A true literary gem.
Jacob Mitchell
Jacob Mitchell January 10, 2025
I thoroughly enjoyed the elegance of it. Beautiful writing, though I craved slightly more depth in the lore. Still, undeniably engaging. A solid 4 stars from me.
Michelle Lopez
Michelle Lopez March 17, 2024
It was adequate. The prose was competent, yet the characters lacked the depth I usually seek. Perfectly average.
Anthony Allen
Anthony Allen July 26, 2024
I thoroughly enjoyed the elegance of it. A brilliant concept executed with flair. Just a few pacing choices I would change. A solid 4 stars from me.
Matthew Thomas
Matthew Thomas January 25, 2024
Honestly one of the most premium reading experiences lately. The author orchestrated a breathtaking finale. Truly a work of art. A true literary gem.
Dorothy  Davis
Dorothy Davis January 12, 2025
I thoroughly enjoyed the elegance of it. Beautiful writing, though I craved slightly more depth in the lore. Still, undeniably engaging. A very distinguished novel.
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