Title: The American Accounting Association: issues in governance and internal control

Authors: Wm. Dennis Huber

Addresses: School of Business and Technology, Capella University, 225 South 6th Street, 9th Floor, Minneapolis, MN 55402, USA

Abstract: This article first presents a review and assessment of the American Accounting Association's (AAA) governance and internal control. Second, it reports the results of a survey of members of the AAA that was conducted just prior to its annual meeting in August 2011 to solicit their opinions concerning the governance and internal control of the AAA. Thirty-seven and one-half percent of the respondents remained dissatisfied with the nomination, election and voting processes even after amendments to the bylaws were passed in spring 2011. Furthermore, although the AAA is a co-sponsor of the COSO framework of internal control, there is no indication that the AAA has adopted the COSO framework. Over 56% of the respondents believe the AAA should adopt COSO recommendations. The paper concludes that substantial reforms must be undertaken to improve the corporate governance and internal control functions of the AAA.

Keywords: American Accounting Association; AAA; governance; internal control; executive committee; COSO framework; board of directors; USA; United States.

DOI: 10.1504/IJCA.2013.055482

International Journal of Critical Accounting, 2013 Vol.5 No.3, pp.301 - 325

Published online: 13 Dec 2013 *

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