Anyone counting on regulation alone to prevent the world from falling into another financial black hole will be sorely disappointed, a group of experts warned in an article published yesterday by the International Federation of Accountants.

The experts say that all key parties to the financial disaster--from regulators to managers and investors--share the blame and that tighter regulation alone can therefore go only so far to prevent another crisis from materializing. 

Anyone counting on regulation alone to prevent the world from falling into another financial black hole will be sorely disappointed, a group of experts warned in an article published yesterday by the International Federation of Accountants.

The experts say that all key parties to the financial disaster--from regulators to managers and investors--share the blame and that tighter regulation alone can therefore go only so far to prevent another crisis from materializing. 

Culture is one of those corporate intangibles. You can't wrap your arms around it, but it is powerful and of increasing importance--especially as M&A grows and risk management tops the corporate agenda.

"The continuing increase in merger and acquisition activity is heightening the importance of cultural analysis (both for due diligence and post-merger integration purposes). Culture is also an issue in large-scale outsourcing partnerships, which are becoming more prevalent, not to mention more strategically significant," Mark Clemente, president of consulting firm Clemente Communications Group, told CFOZone.