信息披露制度：内部控制外文翻译.docVIP

外文翻译 原文 Regulation by disclosure: the case of internal control Material: /content/351u43877v108j45/ author：Laura F. Spira Michael Page …the subject of internal control, once a guaranteed remedy for sleeplessness, has made a spectacular entry onto political and regulatory agendas. (Power 1997: 57) In his analysis of the development of the role of audit, Power observes that internal control has become increasingly important as part of a system of regulation which relies on making internal mechanisms visible through forms of self-validation and disclosure. Corporate governance requirements have frequently been couched in the form of codes of practice on the principle of ‘comply or explain’ rather than prescriptive legislation. The monitoring role of the board of directors, which forms the apex of the internal control system of an organisation, has been emphasised. The influence of particular interest groups has been important in the negotiation of these developments. Auditors, both internal and external, can claim expertise in internal control, advancing their organisational position in the case of internal auditors (Spira and Page 2003) and increasing the potential for sales of specialised services in the case of external auditors. Regulators and legislators have focused on internal control issues as a policy response to crises (Cunningham 2004). The use of internal control as a corporate governance device reflects a subtle but significant change in its conception, moving from the original ‘‘supportive’’ notion that internal control systems were an integral part of the structure of an organization which enabled its goals to be achieved, to the more recent view of internal control as a substantially ‘‘preventive’’ system, designed to minimise obstructions to goal achievement and carrying significantly greater expectations of the effectiveness of such systems. As Page and Spira (2004) note, companies have also increasingly taken ‘risk-b