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Mad hatter's corporate tea party

Leung, Philomena and Cooper, Barry 2003, Mad hatter's corporate tea party, Managerial auditing journal, vol. 18, no. 6/7, pp. 505-516.

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Title Mad hatter's corporate tea party
Author(s) Leung, Philomena
Cooper, Barry
Journal name Managerial auditing journal
Volume number 18
Issue number 6/7
Start page 505
End page 516
Publisher Emerald Group Publishing
Place of publication Bingley, England
Publication date 2003
ISSN 0268-6902
Keyword(s) accountancy
corporate governance
ethics
standards
Summary This paper aims to provide an insight into the corporate greed and consequent corporate collapses of companies such as HIH, One.Tel and Harris Scarfe in Australia, while concurrently, Enron, WorldCom and other companies were attracting the attention of the accounting profession, the regulators and the general public in the USA. It is argued that the rise in economic rationalism and the related increased materialism of both the public and company directors and managers, fed the corporate excesses that resulted in spectacular corporate collapses, including one of the world’s largest accounting firms. The opportunistic behaviour of directors, and managers and the lack of transparency and integrity in corporations, was compounded by the failure of the corporate watch-dogs, such as auditors and regulators, to protect the public interest. If the history of bad corporate behaviour is not to be repeated, the religion of materialism needs to be recognised and addressed, to ensure any corporate governance reforms proposed for the future will be effective.
Notes Reproduced with the kind permission of the copyright owner.
Language eng
Field of Research 150102 Auditing and Accountability
HERDC Research category C1.1 Refereed article in a scholarly journal
Copyright notice ©2003, Emerald Group Publishing
Persistent URL http://hdl.handle.net/10536/DRO/DU:30004326

Document type: Journal Article
Collections: School of Accounting, Economics and Finance
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