Hard and Soft Controls: Mind the Gap‪!‬

I. INTRODUCTION Jensen's (1993) assertion (1) that making the internal control systems of corporations work is the major challenge that economists and management scholars are facing is, perhaps more than ever, at the heart of the evolution of management science in the 2010's. Internal control can be defined by all the means of control available to managers to enable them to master their organization. But the overall level of control has often proved insufficient, especially in the case of frauds, some of them highly publicized and which have shaken global capitalism. Undoubtedly new shocks will occur. McKesson and Robins (1940), Enron (2001), then the Societe Generate in 2008: So many different factors and circumstances that led these companies and their directors to bear the full brunt of the consequences of the frauds developed therein.