Transatlantic Corporate Governance Reform: Brussels Sprouts or Washington Soup?
13 Pages Posted: 30 Mar 2006
Date Written: 2006
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: Suggested Citation