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date: 27 June 2022

Abstract and Keywords

This chapter explores the role of auditors in systems of corporate governance. The discussion refers to international comparisons, where the changing regulatory, methodological, and institutional dimensions of internal and external auditing are emphasized. The first section takes a look at auditing within a fluid and developing corporate governance space, which provides guarantees regarding internal control quality and financial statement. It then discusses auditing standards and knowledge, and related pressures to direct the quality of the auditing market. Finally, the chapter shows auditing as a powerful model of governance.

Keywords: auditors, auditing, corporate governance space, internal control quality, financial statement, auditing market, model of governance

Andrea Mennicken

Andrea Mennicken is Associate Professor in accounting at the London School of Economics and Political Science (LSE) and Deputy Director of the Centre for Analysis of Risk and Regulation (LSE). She received her doctorate from LSE in 2005 on a thesis entitled Moving West: The Emergence, Reform and Standardisation of Audit Practices in Post-Soviet Russia. She holds a Master (LSE) and German Diploma Degree (University of Bielefeld) in sociology. Her work has been published in the journals Accounting, Organizations and Society, Financial Accountability and Management, Foucault Studies, and different edited volumes. She has co-edited (with Hendrik Vollmer) Zahlenwerk: Kalkulation, Organisation und Gesellschaft [Number Work: Calculation, Organisation and Society] (2007). Her research interests include social studies of valuation and accounting, transnational governance regimes, processes of economization and marketization, standardization, and public sector reforms with a special focus on prisons.

Michael Power

Michael Power is Professor of Accounting and Director of the Centre for the Analysis of Risk and Regulation (CARR) at the London School of Economics. His research and teaching focuses on regulation, accounting, auditing, internal control, and risk management. His major work, The Audit Society: Rituals of Verification (1999) has been translated into Italian, Japanese, and French. Organized Uncertainty: Designing a World of Risk Management (2007) has been translated into Japanese. Power holds honorary doctorates from the University of St Gallen, Switzerland, and the University of Uppsala, Sweden.

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