Palmer & Harvey: A Case of Governance and Audit Failure

GARROW, Nigel and AWOLOWO, Ifedapo (2018). Palmer & Harvey: A Case of Governance and Audit Failure. Journal of Modern Accounting and Auditing, 14 (7).

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Palmer & Harvey (P&H) is a recent example of a UK corporate failure which raises questions about current corporate governance practice, the quality and integrity of audit reporting, and the “sugar coating” of Annual Reports. P&H is but one example of UK firms currently struggling to survive, or failing. The paper presents some details about the P&H case, and then considers questions about corporate governance practice, and whether it is designed to truly safeguard the interests of stakeholders; it raises questions about conventional audit reporting, and whether it is too limited in its analysis and reporting. The paper recommends a strengthening of corporate governance guidelines and practice within the terms of the current Financial Reporting Council (FRC) review, and a wider adoption of forensic accounting practice and reporting, in part taking account of the impact of behavioural factors in management practice. A wider study is proposed to take this analysis and discussion further.

Item Type: Article
Uncontrolled Keywords: 1501 Accounting, Auditing And Accountability; 1502 Banking, Finance And Investment
Identification Number:
SWORD Depositor: Symplectic Elements
Depositing User: Symplectic Elements
Date Deposited: 25 Feb 2019 10:47
Last Modified: 18 Mar 2021 06:34

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