Answer to Question #79108 in Finance for Owen Marsden

Question

What advice on corporate governance requirements could be sought from published sources or the practices of others?

Answer 1

The past two decades has seen corporate governance take an increasingly prominent role within business environment. In the wake of high profile corporate collapses and against the backdrop of the global financial crisis, government, companies and shareholders alike have actively advocated for the adoption of new systems of governance and more robust governance practices. Corporate governance has developed in an ad hoc and iterative manner. However, for the most part companies have embraced the evolution of corporate governance practices – particularly, principles-based approaches to corporate governance – as an important tool to enhance board and management accountability to stakeholders. This paper provides a brief snapshot of some of the notable features of corporate governance.