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Dynamics and limits of regulatory privatization: reorganizing audit oversight in Russia

Alon, Anna, Mennicken, Andrea ORCID: 0000-0002-5658-7678 and Samsonova-Taddei, Anna (2019) Dynamics and limits of regulatory privatization: reorganizing audit oversight in Russia. Organization Studies, 40 (8). 1217 - 1239. ISSN 0170-8406

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Identification Number: 10.1177/0170840619850587


Accounting and auditing are often cited as key sites where business regulation has been privatized, globalized and neoliberalized. Yet, these sites have also undergone a legitimacy crisis in recent years, marked by a shift from self-regulation to increased public oversight. This paper investigates these developments by reference to the evolution of a public/private audit oversight regime (audit of the auditors) in Russia. We show how, in the early stages of post-Soviet reforms, old state-administered forms of financial oversight were replaced with market-oriented arrangements (peer reviews) offered by newly founded private professional accountancy associations as a service to their members. Fifteen years later, the process of regulatory privatization culminated in a reinvigoration of public authority. Our longitudinal analysis highlights the pivotal role of the state in the liberalization of governance by showing how audit oversight privatization was not only enabled by, but also provided a condition for, the strengthening of government actors. We introduce the term ‘legislative layering’ to denote the mechanism that enabled public actors to redeploy themselves in the face of the rising market logic to ensure continuity in their regulatory objectives.

Item Type: Article
Official URL:
Additional Information: © 2019 The Authors
Divisions: Accounting
Subjects: H Social Sciences > HD Industries. Land use. Labor > HD28 Management. Industrial Management
H Social Sciences > HF Commerce > HF5601 Accounting
Date Deposited: 15 May 2019 12:00
Last Modified: 25 Jul 2024 02:24

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