Accounting and auditing is closely related to the quality of data. Two important elements supporting the quality of information are internal controls and materiality. Inspired by Simons (1994), these elements can be considered “basic building blocks”. Internal controls are perhaps the most...

Purpose: This paper investigates the use of management controls when environmental uncertainty and hostility increase abruptly. Specifically, it explores this in the context of the 2008 financial crisis in six banks located in two countries. Design/methodology/approach: The paper is based on 26...

Purpose: This paper aims to explore and explain how administrative controls have been changed as a response to a significant crisis, using the transition of the three largest Icelandic banks from bankrupt to operational entities after the 2008 financial crisis. The Icelandic banks are compared...