The focus of the proposed Euroconference is on enabling a multidimensional understanding of the consequences for financial reporting, regulation and corporate governance of accelerating economic integration in Europe. The Euroconference will seek to approach this topic with the understanding that in the emerging European economic context, regulatory practices in the field of financial reporting and corporate governance can less than ever be conceptualised as a merely technical phenomenon. The programme of the proposed series of events proposes an exploration of a number of interconnected issues in the fields covered that have become paramount in economic and political agendas across Europe.
During its first event the Euroconference project would thus address the interaction between corporate disclosure, governance systems and accounting regulation. The idea is to look at changes in regulatory spaces as the point of departure for the investigation of the ways in which the transformations of financial reporting attempt to make firms more accountable and visible (and therefore more controllable) to both the external environment and their governing bodies.
Auditing will therefore be a topic of particular interest during the first event given its role in any solution of the enforcement (or self-enforcement) issues. The second event will try and build on the mapping of regulatory frameworks and practices in Europe, in order to challenge the necessity of centrally institutionalised governance and raise the question of whether or not market mechanisms could likewise fulfil the task. Within this perspective, economic analysis will be seen as an important research tool to structure the research process and derive powerful insights into accounting procedures and institutions.
The concluding event will depart from the classic transaction cost argument stating that there will be a trade-off between the archetypal designs of governance. Which will prevail depends on the specific costs and benefits of each and the circumstances encountered in the regulatory environments discussed.