One of the standard regulatory reactions to troubling events in the corporate world — such as the collapse of one of Australia's largest insurers, HIH, the Enron failure in the US, and the Polly Peck accounting scandal in the UK — has been regulation that mandates formally independent...

One of the standard regulatory reactions to troubling events in the corporate world -- such as the collapse of one of Australia’s largest insurers, HIH, the Enron failure in the US, and the Polly Peck accounting scandal in the UK -- has been regulation that mandates formally independent...