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Finance & Accounting
Pages 4 (1004 words)
Corporate governance comprises of the regulatory and the market mechanism along with the roles and the relationship between the management of a company with its shareholders and stakeholders at large
The concept of corporate governance can be defined as the procedures which are used to direct and control an organisation in alliance with its determined mission and vision. The extended role of corporate governance further exhibits a proper structure specifying the delegation of rights as well as the responsibilities bestowed upon the participants of an organisation including its board members, lower and middle level managers, stakeholders, shareholders and other interest groups (OECD 2005). The corporate governance comprises the three basic factors. In this context, it provides with adequate transparency in its decision-making process. Transparency in turn provides scope for accountability that entails the responsibilities of the decision makers within an organisation. It also provides accountability for the conservation of the concern with respect to the shareholders’ interests as well as the commitment of the organization towards its stakeholders. Indeed, accountants and other financial decision makers play a vital role in determining organizational effectiveness to mitigate such concerns through high degree of ethical commitments. ...
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