We expect governments to protect citizens from the adverse consequences of hazardous events. At the same time it is not possible or necessarily in the best interest of citizens for all risks to be removed. A risk-based approach to the design and implementation of regulation can help to ensure...

Internal auditors of large organizations have historically been dominated by managers. Recent changes in federal regulation of financial reporting require managers of publicly held corporations to be dominated by directors. These requirements require a fundamental change in the relationship...