Regulation of UK Corporate Governance: lessons from accounting, audit and financial services

Abstract

This paper explores current debates and trends in regulation and examines their relevance to the evolution of UK corporate governance codes of practice. In particular, the paper explores frameworks drawn from the regulation of financial services, accounting and audit, and discusses whether there are lessons to be learnt from them for the regulation of UK corporate governance. Because of trends in regulation, and in the light of empirical evidence and recent events, especially post‐Enron, an appropriate structure for the regulation of UK corporate governance might be based on that of financial services.