Governance of professional accounting bodies: a comparative analysis

Abstract

Purpose

This study examines the governance structures, practices and related public disclosures of the world's largest professional accounting bodies (PABs). Key aims are to advance the limited available knowledge and guidance on PAB governance and highlight avenues for further research and debate on how PABs can strengthen their governance arrangements.

Design/methodology/approach

Content analysis of extant governance arrangements for the subject PABs was conducted using a range of secondary data and guided by available international governance frameworks. The authors focused on identifying critical differences across the studied PABs. The governance recommendations and future research themes presented emerged from an analysis of relevant knowledge on governance practices from the academic literature and other sources.

Findings

The paper presents a detailed comparison of PAB governance arrangements across the themes of strategic disclosures, committee arrangements and member engagement. From this analysis, 20 recommendations are presented that seek to fortify the capacity of PABs to uphold their professional and public interest responsibilities.

Originality/value

This is the first paper to systemically examine the governance arrangements of the world's largest PABs. It thus adds to knowledge about the efficacy of extant arrangements in facilitating accountable and transparent self-regulation of PAB responsibilities. Crucial future research opportunities are also highlighted to provoke and guide long-neglected debate on PAB governance.

Citation

Andon, P. and Clune, C. (2021), "Governance of professional accounting bodies: a comparative analysis", Accounting, Auditing & Accountability Journal, Vol. 34 No. 8, pp. 1769-1801. https://doi.org/10.1108/AAAJ-08-2020-4756