ABSTRACT
This chapter focuses on the governmentality theme espoused by Michel Foucault. It explains how the conception of risk has become deeply implicated in the processes of global governance in general, through practices such as credit rating, accounting and auditing in particular. The chapter attempts to utilize the notions of agonism and parrhesia to highlight the multitude of ways in which governance operates and how the relationships between the governed and the governors can be contextualised. The modernist governance in democratic societies is usually understood to mean some form of authority, or as a set of organising principles and practices related to the concept of 'order' and sovereignty. The chapter shows how the particular form of government Western type societies typically manifest, becomes distanced from the absolutist idea of political power being resident in a formal sovereign. Power views the practices of auditing as one of a series of tactics used by various agents to make firms more efficient.
