Beware of the Watchdog: Rethinking the Normative Justification of Gatekeeper Liability
One of the prevailing explanations of the corporate scandals of the Enron era and the recent financial crisis is the failure of professional gatekeepers—such as auditors, corporate lawyers, and securities analysts—to detect and disrupt corporate misconduct. The alleged solution to this failure—typic...
| Autor principal: | |
|---|---|
| Tipo de documento: | Recurso Electrónico Artigo |
| Idioma: | Inglês |
| Verificar disponibilidade: | HBZ Gateway |
| Journals Online & Print: | Carregar...
|
| Fernleihe: | Fernleihe für die Fachinformationsdienste |
| Publicado em: |
Springer Science + Business Media B. V
2017
|
| Em: |
Journal of business ethics
Ano: 2017, Volume: 140, Número: 4, Páginas: 705-721 |
| Outras palavras-chave: | B
Accounting standards
B auditor independence B Expectation gap B Role morality and virtue B Professional Ethics |
| Acesso em linha: |
Volltext (JSTOR) Volltext (lizenzpflichtig) |
| Resumo: | One of the prevailing explanations of the corporate scandals of the Enron era and the recent financial crisis is the failure of professional gatekeepers—such as auditors, corporate lawyers, and securities analysts—to detect and disrupt corporate misconduct. The alleged solution to this failure—typically proposed and justified on consequentialist grounds—is to impose legal liability on professionals. The purpose of this paper is to critically examine the normative foundations of gatekeeper liability. In the course of this paper, I shall defend the claim that gatekeeper liability may be morally objectionable not only on grounds of fairness but also on consequentialist grounds. The expected contribution of this paper is threefold. First, it systematizes the framing and moral justification of gatekeeping duties. Second, it calls into question the normative underpinnings for targeting intermediaries instead of primary wrongdoers. Third, it anticipates some negative (and often overlooked) results of gatekeeping strategies in the accounting profession, specifically in the realm of clientele selection, the expectation gap, and auditor compensation. |
|---|---|
| ISSN: | 1573-0697 |
| Obras secundárias: | Enthalten in: Journal of business ethics
|
| Persistent identifiers: | DOI: 10.1007/s10551-017-3460-3 |