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Publication - Professor Michael Jones

    Internal control, accountability and corporate governance: Medieval and modern Britain

    Citation

    Jones, M, 2008, ‘Internal control, accountability and corporate governance: Medieval and modern Britain’. Accounting, Auditing and Accountability Journal, vol 21(7)., pp. 1052 - 1075

    Abstract

    Purpose – The aim of this paper is to compare modern internal control systems with those in
    medieval England.

    Design/methodology/approach – This paper uses a modern referential framework (control
    environment, risk assessment, information and communication, monitoring and control activities) as a lens to investigate medieval internal controls used in the twelfth century royal exchequer and other medieval institutions. It draws upon an extensive range of primary materials.

    Findings – The paper demonstrates that most of the internal controls found today are present in
    medieval England. Stewardship and personal accountability are found to be the core elements of
    medieval internal control. The recent recognition of the need for the enhanced personal accountability
    of individuals is reminiscent of medieval thinking.

    Originality/value – It investigates internal controls in medieval England for the first time and
    draws comparisons to today.

    Keywords - Management accountability, Corporate governance, Internal control, England, Accounting history

    Paper type - Research paper

    Full details in the University publications repository