Dr. Vasant Raval is emeritus professor of accounting at Creighton University, Omaha, USA, where he served for over 37 years in various leadership roles and in active teaching, scholarship and service. Prior to his joining Creighton University in 1981, he was associate professor at the University of Windsor, Windsor, Ontario, Canada for six years. His career began as an inspector of income tax with the Government of India, with subsequent job positions in the Tariff Commission of the Government of India and finally, in private industry as a cost and management accountant in a complex textile mill that employed over 5,000 hourly workers in three shifts. Prior to his joining MBA degree program at Indiana State University in Terre Haute, Indiana, USA, in 1971, he had earned Bachelor of Commerce from the University of Mumbai and passed professional examinations leading to certification in management accountancy both from India and the United Kingdom. In 1972, he joined Indiana University's Doctor of Business Administration (DBA) degree program an specialized in accountancy, organizational behavior, and management information systems. Dr. Raval served as a director and chair of the audit committee of the board at two public companies during 2004-2010 period. Combined with his academic pursuits, this led to opportunities for him to grow his insights into governance and contribute to the public domain. The experience combined with study of empirical literature on governance improved his insights and sharpened his ability to separate wheat from chaff. An author/co-author of three books and a monograph, he has published over 50 papers and contributed over 40 columns on two different themes, Information Ethics and, more recently, The (Professional) Practice where he co-authors with a professional leading edge practical insights on various topics. Whereas he taught a broad spectrum of courses over his academic tenure, his most recent offerings can be described as covering three domains: corporate governance, fraudulent financial reporting (and related ethical issues), and accounting information systems, including information security.
What I really like about this book is that it has adopted a pyramid style approach which means that it takes you through the basic foundational concepts and then deals with specific contents available to all the stakeholders like BODs, Shareholders, Internal/External Auditors, etc. Even the compliance part which is mostly theoretical is covered by way of touch-ups to give comprehensive information. What I have enjoyed the most are the variety of case studies both simple and sophisticated, real case studies, ones that are embedded everywhere in the pages of the book to explain different concepts which makes this book accessible even for students to understand this theory in a practical way. Lastly, my favorite chapter is the last chapter on horizons of corporate governance, because it covers the current business environment (including info on technology) in the world at large with its future issues and challenges. This makes it unique and will enrich the reader with regards to what's going on now and what's expected in future. - Alka Adatia, Chartered Accountant and Certified Fraud Examiner