The Annual General Meeting as an Accountability Mechanism

20 Pages Posted: 20 Oct 2008 Last revised: 26 Mar 2012

See all articles by Carolyn J. Cordery

Carolyn J. Cordery

Aston University; Victoria University of Wellington - School of Accounting and Commercial Law

Date Written: 2005

Abstract

This review of Annual General Meetings (AGMs) as they evolved historically in English parishes and early joint-stock companies shows the manner in which they provided valuable opportunities to fulfill organizational accountability. AGMs enabled members to call elected governors to account and, in generating forums for organizational construction, supplied models which were foundational in early company law. As faceto- face meetings, AGMs were heterogeneous and presented non-financial information to augment publicly available financial information.

Whilst low attendance at AGMs indicates apathy and modern technological advances may enable their replacement, recent calls to revise the legal requirement for an AGM have not gained traction. This paper therefore suggests a recommitment to the process of AGM accountability as practiced in early public sector and profit-oriented organizations. This will enable today's organizations to utilize the potential of the AGM as a formal and transparent mechanism to deliver accountability.

Suggested Citation

Cordery, Carolyn J., The Annual General Meeting as an Accountability Mechanism (2005). Available at SSRN: https://ssrn.com/abstract=1286930 or http://dx.doi.org/10.2139/ssrn.1286930

Carolyn J. Cordery (Contact Author)

Aston University ( email )

Aston Business School
Aston Triangle
Birmingham, B4 7ET
United Kingdom

Victoria University of Wellington - School of Accounting and Commercial Law ( email )

Faculty of Commerce and Administration
PO Box 600
Wellington
New Zealand

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