Corporate economic crime, including accounting and auditing fraud and inappropriate behaviour by directors on the boards of US corporations, has resulted in stockholder financial losses and the loss of confidence in investing in the US stock market. We observe the modern corporation with its...

Purpose – The purpose of this paper is to examine the legislative process, in order to determine the likely effectiveness of financial reform efforts in the USA. Design/methodology/approach – Case study of the legislative process, particularly the less visible parts such as rule making, that...

Purpose – The desirability of financial reform to avoid another financial melt‐down is widely accepted, but the likelihood of reform is uncertain. The purpose of this paper is to present a case study of evolution and reform attempts at US mortgage giants Fannie Mae and Freddie Mac and...

Purpose – The purpose of this paper is to examine the legislative process, in order to determine the likely effectiveness of financial reform efforts in the USA. Design/methodology/approach – Case study of the legislative process, particularly the less visible parts such as rule making, that...

Purpose – As a result of scandals concerning major financial crime in the early twenty‐first century, including accounting and auditing fraud and inappropriate behavior by directors on the boards of US corporations, Congress hurriedly enacted the Sarbanes‐Oxley Act (SOX) in 2002. SOX's...