Transatlantic Corporate Governance Reform: Brussels Sprouts or Washington Soup?

13 Pages Posted: 30 Mar 2006

See all articles by Arman Khachaturyan

Arman Khachaturyan

Centre for European Policy Studies (CEPS), Brussels

Joseph A. McCahery

Tilburg University - School of Law; European Banking Center (EBC); Tilburg Law and Economics Center (TILEC); European Corporate Governance Institute (ECGI)

Date Written: 2006

Abstract

In light of increased and unprecedented integration of transatlantic economies, this article explores transatlantic regulatory challenges against the background of the latest spate of the European Commission's proposals on reforming corporate governance in the EU and the US Sarbanes-Oxley Act. These challenges stem in part from the corporate fallouts across both sides of the Atlantic and the subsequent regulatory responses, and more comprehensively from the ambition to design an international regulatory and supervisory system of cooperation in accounting and auditing. Furthermore, specific challenges related to internal control standards, auditing and accounting standards, international regulatory and supervisory cooperation are briefly outlined. The paper concludes by sketching a transatlantic regulatory road-map.

Keywords: Comparative corporate governance

JEL Classification: G35

Suggested Citation

Khachaturyan, Arman and McCahery, Joseph A., Transatlantic Corporate Governance Reform: Brussels Sprouts or Washington Soup? (2006). Amsterdam Center for Law & Economics Working Paper No. 2006-02, Available at SSRN: https://ssrn.com/abstract=893790 or http://dx.doi.org/10.2139/ssrn.893790

Arman Khachaturyan

Centre for European Policy Studies (CEPS), Brussels ( email )

1 Place du Congres
B-1000 Brussels, 1000
Belgium

HOME PAGE: http://www.ceps.be

Joseph A. McCahery (Contact Author)

Tilburg University - School of Law; European Banking Center (EBC) ( email )

Warandelaan 2
Tilburg, 5000 LE
Netherlands
+31-(0)13-466-2306 (Phone)
+31-(0)13-466-2323 (Fax)

Tilburg Law and Economics Center (TILEC)

Warandelaan 2
Tilburg, 5000 LE
Netherlands

European Corporate Governance Institute (ECGI)

c/o the Royal Academies of Belgium
Rue Ducale 1 Hertogsstraat
1000 Brussels
Belgium

HOME PAGE: http://www.ecgi.org

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