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.
International Journal of Critical Accounting, 2013 Vol.5 No.3, pp.301 - 325
Available online: 29 Jul 2013 *Full-text access for editors Access for subscribers Purchase this article Comment on this article