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The corrosive effects of neoliberalism on the UK financial crises and auditing practices: A dead-end for reforms

Sikka, P (2015) 'The corrosive effects of neoliberalism on the UK financial crises and auditing practices: A dead-end for reforms.' Accounting Forum, 39 (1). pp. 1-18. ISSN 0155-9982

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Abstract

The UK's financial sector has been the subject of frauds and crisis during every decade since the 1970s. The crisis has been fuelled by neoliberal ideologies which emphasise light-touch regulation, individualisation, excessive faith in markets and pursuit of private profits, with little regard for social consequences. Auditors are expected to flag matters of concern to shareholders and regulators, but that did not happen in the events leading to the 2007?2008 banking crash or any of the other headline scandals. Despite the failures, banking and auditing reforms continue to be grounded in neoliberal ideology and are unlikely to address the crisis.

Item Type: Article
Uncontrolled Keywords: Financial crisis; Banks; Financial sector; Auditing; Neoliberalism; The state
Subjects: H Social Sciences > HF Commerce > HF5601 Accounting
Divisions: Faculty of Social Sciences
Faculty of Social Sciences > Essex Business School
SWORD Depositor: Elements
Depositing User: Elements
Date Deposited: 14 Apr 2015 10:20
Last Modified: 06 Jan 2022 13:17
URI: http://repository.essex.ac.uk/id/eprint/13519

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