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Accounting Ledger - Photo by Alex Durynin on Unsplash

We are delighted to announce the publication of a new article on our partner platform the Corporate Social Responsibility and Business Ethics Blog authored by Dr. Samar Riaz, Lecturer in Business and Management at the Globe Business College Munich, and entitled "Accounting and Hegemony in Multinational Corporations.

This article illustrates Dr. Samar Riaz’s doctoral research on accounting’s role in reinforcing and challenging hegemonic power structures. Using Nestlé as a case study in Pakistan, the author explores how traditional accounting practices consolidate elite power at the expense of society. He draws on Antonio Gramsci’s concept of hegemony to explain how the ruling class maintains dominance through intellectual leadership and control of the dominant narrative. Samar argues that accounting upholds the interests of the ruling elites, promoting the dominant economic market rationality. He criticizes the historical use of accounting to perpetuate cultural hegemony, including during the colonial era. Accounting and auditing firms are also criticized for failing to identify corporate misconduct and shaping the dominant narrative despite unethical practices. The article emphasizes the importance of counter-accounts that challenge the dominant narrative and provide alternative perspectives. These counter-accounts should represent the voices of those affected by corporate activities and be considered alongside mainstream accounting practices. The collapse of Silicon Valley Bank and the role of accounting firms in hiding information are cited as examples of potential accounting misuse. In conclusion, Samar calls for a more balanced and inclusive approach to accounting that includes counter-accounts. By amplifying diverse voices and perspectives, he believes a fairer future can be shaped by challenging the hegemony of the accounting industry.

Access the article on the Corporate Social Responsibility and Business Ethics Blog here:

Download the article in PDF format:

Samar Riaz (2023) Accounting and Hegemony in Multinational Corporations
Download PDF • 259KB


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