Creative Accounting, Corporate Governance Watch Dogs Institutions and Systems- the Case of Cadbury (Nig) Plc

12 Pages Posted: 20 Oct 2011 Last revised: 30 Oct 2011

See all articles by Okaro Sunday Chukwunedu

Okaro Sunday Chukwunedu

Nnamdi Azikiwe University - Department of Accountancy

Gloria Ogochukwu Okafor

Nnamdi Azikiwe University - Department of Accountancy

Date Written: October 19, 2011

Abstract

This is a case study of the financial misstatements in Cadbury (Nig) Plc running to about # 13 billion over a three year period with particular reference to how corporate watch dog institutions and systems in the company were affected. This study relied on the published findings of SEC (Nig) Board of enquiry on the matter. Financial statements of the company were also analyzed where relevant. Empirical works on various aspects of the scandal were also consulted. This study found out that virtually all the watch dog institutions and systems were compromised. This has implications for effectiveness considerations in corporate governance arrangements. The study also lent credence to the fact that the benefits of IFRS as a global standard may be lost if jurisdictional weaknesses in accounting infrastuctures and regulations are not properly addressed.

Keywords: creative accounting, corporate governance, watch dog institutions, Cadbury ( Nig) Plc

Suggested Citation

Chukwunedu, Okaro Sunday and Okafor, Gloria Ogochukwu, Creative Accounting, Corporate Governance Watch Dogs Institutions and Systems- the Case of Cadbury (Nig) Plc (October 19, 2011). Available at SSRN: https://ssrn.com/abstract=1946441 or http://dx.doi.org/10.2139/ssrn.1946441

Okaro Sunday Chukwunedu

Nnamdi Azikiwe University - Department of Accountancy ( email )

Department of Accountacy
Faculty Of Management Sciences
Awka, West Africa 23400
Nigeria

Gloria Ogochukwu Okafor (Contact Author)

Nnamdi Azikiwe University - Department of Accountancy ( email )

Awka, Anambra 23400
Nigeria
080 (Phone)

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