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Internal control, accountability and corporate governance

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  • Michael John Jones

Abstract

Purpose - The aim of this paper is to compare modern internal control systems with those in medieval England. Design/methodology/approach - This paper uses a modern referential framework (control environment, risk assessment, information and communication, monitoring and control activities) as a lens to investigate medieval internal controls used in the twelfth century royal exchequer and other medieval institutions. It draws upon an extensive range of primary materials. Findings - The paper demonstrates that most of the internal controls found today are present in medieval England. Stewardship and personal accountability are found to be the core elements of medieval internal control. The recent recognition of the need for the enhanced personal accountability of individuals is reminiscent of medieval thinking. Originality/value - It investigates internal controls in medieval England for the first time and draws comparisons to today.

Suggested Citation

  • Michael John Jones, 2008. "Internal control, accountability and corporate governance," Accounting, Auditing & Accountability Journal, Emerald Group Publishing Limited, vol. 21(7), pages 1052-1075, September.
    • Handle: RePEc:eme:aaajpp:v:21:y:2008:i:7:p:1052-1075
    DOI: 10.1108/09513570810907474
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    References listed on IDEAS

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    1. Hoskin, Keith W. & Macve, Richard H., 1986. "Accounting and the examination: A genealogy of disciplinary power," Accounting, Organizations and Society, Elsevier, vol. 11(2), pages 105-136, March.
    2. Bryer, R. A., 2000. "The history of accounting and the transition to capitalism in England. Part two: evidence," Accounting, Organizations and Society, Elsevier, vol. 25(4-5), pages 327-381, May.
    3. Bryer, R. A., 2000. "The history of accounting and the transition to capitalism in England. Part one: theory," Accounting, Organizations and Society, Elsevier, vol. 25(2), pages 131-162, February.
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    Cited by:

    1. Oliver Henk, 2020. "Internal control through the lens of institutional work: a systematic literature review," Journal of Management Control: Zeitschrift für Planung und Unternehmenssteuerung, Springer, vol. 31(3), pages 239-273, September.
    2. Dobie, Alisdair, 2015. "The role of the general and provincial chapters in improving and enforcing accounting, financial and management controls in Benedictine monasteries in England 1215–1444," The British Accounting Review, Elsevier, vol. 47(2), pages 142-158.
    3. Niamh M. Brennan & Jill Solomon, 2008. "Corporate governance, accountability and mechanisms of accountability: an overview," Accounting, Auditing & Accountability Journal, Emerald Group Publishing Limited, vol. 21(7), pages 885-906, September.
    4. Jones, Michael John, 2010. "Sources of power and infrastructural conditions in medieval governmental accounting," Accounting, Organizations and Society, Elsevier, vol. 35(1), pages 81-94, January.
    5. McLean, Tom & McGovern, Tom, 2017. "Costing for strategy development and analysis in an emerging industry: The Newcastle Upon Tyne Electric Supply Company, 1889–1914," The British Accounting Review, Elsevier, vol. 49(3), pages 294-315.

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