Governance & Accounting Still Concern Investors

Things have improved but there is still cause for concern. That is the message investors and creditors seem to be sending in a special report published Monday by Standard and Poor’s.

“Governance and accounting remain heightened areas of concern for investors and creditors, and it remains critically important for them to assess the often qualitative, intangible, and principle-based dimensions of governance and accounting,” said George Dallas, managing director and global practice leader, corporate governance, Standard and Poor’s in a prepared statement. “We believe there is an ongoing need for market participants to remain engaged with corporate governance, and continue to monitor and advocate continued progress in this area.”

The special report’s findings can be found in this week’s issue of CreditWeek, the investment research leader’s weekly magazine on credit risk. Articles from the special report, including:

  • A Global Perspective on Corporate Governance
  • Credit FAQ: The Transition of Financial Reporting to IFRS
  • Ownership Rights and Creditor Interests – Discord or Dependency
  • Red Flags and Management, Culture, Strategy and Practice
  • Can Family-Owned Companies Mitigate Corporate Governance Risks Associated with Family Control?
  • U.S. Executive Pay Levels Not Likely to Moderate
  • Enterprise Risk Management and Risk Assessment and more

can be found online under “Standard & Poor’s on Corporate Governance” in the Hot Topics on the Standard and Poor web site at www.standardandpoors.com.

“Company boards are taking an increasingly active role in overseeing the internal control process and establishing direct communications with internal and external auditors, and accounting standard setters and regulators are focusing on expanded disclosure, fostering an environment in which compliance no longer means merely meeting the letter of the law,” Neri Bukspan, managing director and chief accountant, Standard and Poor’s said in a prepared statement. “In addition, auditors’ oversight framework has been enhanced, resulting in a substantial revamp of the audit process in the U.S., with a ripple effect on many other markets in which the big accounting firms operate. The evolving and transitional state of international financial reporting standards coupled with the growing complexity of business transactions, tougher audits and lingering concerns over transparency and internal controls, will undoubtedly mandate continued attention on financial reporting disciplines.”

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