IDEAS home Printed from https://ideas.repec.org/a/ids/ijcgov/v2y2011i2p140-155.html
   My bibliography  Save this article

Implementation of Article 41 of the 8th EU Directive in the EU member states – impact on internal governance mechanisms

Author

Listed:
  • Ulrich Bantleon
  • Alexander Bassen
  • Anne d'Arcy
  • Anja Hucke
  • Annette G. Kohler
  • Burkhard Pedell

Abstract

In reaction to accounting scandals, national and international standard-setters have introduced and enforced additional corporate governance mechanisms in recent years. These regulatory changes have had an especially large effect on external governance mechanisms like disclosure requirements, the accountability of management and board members and statutory audits. For the first time, in Article 41 of the 8th EU Directive, European legislation addressed the relationship between audit committees (which are now mandatory for public-interest entities) and other internal governance mechanisms such as internal controls, the internal audit function, and the risk management system. This study investigates the current level of implementation of the items addressed in the 8th EU Directive within the EU member states. Implementation varies considerably from one jurisdiction to another, and there is no consensus regarding the internal audit function and other internal governance mechanisms within Europe.

Suggested Citation

  • Ulrich Bantleon & Alexander Bassen & Anne d'Arcy & Anja Hucke & Annette G. Kohler & Burkhard Pedell, 2011. "Implementation of Article 41 of the 8th EU Directive in the EU member states – impact on internal governance mechanisms," International Journal of Corporate Governance, Inderscience Enterprises Ltd, vol. 2(2), pages 140-155.
    • Handle: RePEc:ids:ijcgov:v:2:y:2011:i:2:p:140-155
    as

    Download full text from publisher

    File URL: http://www.inderscience.com/link.php?id=41152
    Download Restriction: Access to full text is restricted to subscribers.
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Bajra, Ujkan & Čadež, Simon, 2018. "Audit committees and financial reporting quality: The 8th EU Company Law Directive perspective," Economic Systems, Elsevier, vol. 42(1), pages 151-163.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:ids:ijcgov:v:2:y:2011:i:2:p:140-155. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Sarah Parker (email available below). General contact details of provider: http://www.inderscience.com/browse/index.php?journalID=260 .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.