Answer to Question #72338 in Accounting for Brodie

Question

Is consultation always necessary before the timetables for the implementation of corporate governance requirements are developed?

Answer 1

Corporate governance is the mechanisms, processes and relations by which corporation are controlled and directed. Governance structures and principles identify the distribution of rights and responsibilities among different participants in the corporation (such as the board of directors, managers, shareholders, creditors, auditors, regulators, and other stakeholders) and includes the rules and procedures for making decisions in corporate affairs.
Sources:
https://en.m.wikipedia.org/wiki/Corporate_governance