- Title
- One size doesn't fit all: a review of corporate governance guidelines with an SME perspective
- Creator
- Barnes, Lisa
- Relation
- Third International Business Research Conference. Proceedings of Third International Business Research Conference (Melbourne 20-22 November, 2006)
- Relation
- http://wbiaus.org
- Publisher
- World Business Institute
- Resource Type
- conference paper
- Date
- 2006
- Description
- Corporate governance regimes such as the Sarbanes-Oxley Act (2002) in the US, the Australian Stock Exchange (ASX 2003) Corporate Governance Council’s Guidelines, the Combined Code (2003) in the UK, and the enacted and other provisions proposed in CLERP9 (2004), reflect pervading beliefs - that the majority of business is undertaken by large listed public companies, and governance regimes necessary and appropriate for big business are necessarily appropriate for small business. Arguably, a substantial part of international commercial activity is undertaken by Small and Medium Enterprises (SMEs), and as such are an important element of the economy. With corporate governance regimes’ focus upon compliance with accounting and auditing standards, company board structures, participation of executive and independent directors, auditor independence, and having audit committees with prescribed structures, and the like, they are of little significance in respect of SMEs’ affairs. The paper will examine the relevance of current corporate governance regimes to SMEs; that is the hypothesized irrelevance (for most purposes) of the themes underpinning the corporate governance regimes currently in vogue in respect of the commercial affairs of SMEs.
- Subject
- SME governance; corporate governance; Small and Medium Enterprises (SMEs)
- Identifier
- uon:2428
- Identifier
- http://hdl.handle.net/1959.13/29168
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