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Finance & Accounting
Pages 6 (1506 words)
Finance Principles Table of Contents Introduction 3 Principles underlying corporate governance and its importance 3 Combined Code on corporate governance 4 SOX on corporate governance 6 Conclusion 7 References 9 Bibliography 10 Introduction This paper deals with a detailed study on two acts of corporate governance and impact of these on improvement of corporate governance in UK and US based firms.
Stakeholders include all individual and institutions that are financially and non financial associated with the company i.e. from board of directors and top management to shareholders, creditors, suppliers, employees, society and the environment (Ross, Westerfield, & Jordan, 2008, p.7). Corporate governance policies are developed and implemented by mainly the board of directors and top management of companies. Executive directors play important on this business activity. Many executive directors of leading firms of both UK and USA have been criticized for major corporate failure of their organizations. Few of these firms are WorldCom, Enron, Tyco, Fannie Mae, Northern Rock, Freddy Mac, Barings Bank, Royal Bank of Scotland. Principles underlying corporate governance and its importance Corporate governance is generally a set of principles developed by the companies to show its extent of confidence in terms of capability of the company to maintain sustainable interest of all the stakeholders. ...
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