In this paper, corporate governance is understood as an ideological perspective of the superiority
given to the interests of a bourgeoisie, the accounting systems being only the place of validation of these
interests. Mixed with the illusion of accounting systems seen as giving informations to shareholders
taken as rational, corporate governance allows to build a better mask of dominant interests by focusing
the attention on conflicts of interests between shareholders and managers. It induces to think that
the structuralization of a device of control by and around the board of administrators could allow a
shareholders activism which would possess a “true” democratic substance, diverting then of the “real”
ideological project of corporate governance. The demonstration ends with a criticism of the role of
auditing firms considered as broadcasting a managerial ideology.