Get help now

What Is Good Corporate Governance?

  • Pages 2
  • Words 293
  • Views 606
  • dovnload

    Download

    Cite

  • Pages 2
  • Words 293
  • Views 606
  • Academic anxiety?

    Get original paper in 3 hours and nail the task

    Get your paper price

    124 experts online

    Good corporate governance is characterized by a firm commitment and adoption of ethical practices by an organization across its entire value chain and in all of its dealings with a wide group of stakeholders encompassing employees, customers, vendors, regulators and shareholders (including the minority shareholders), in both good and bad times. To achieve this, certain checks and practices need to be whole-heartedly embraced.

    Some considerations in this respect are outlined below:

    • Codes of conduct and whistle blower policies are important, but more important is how they are communicated and practiced. It is vital for board members and senior management to lead by example
    • The concept of having independent directors is a good one in theory but more important is the process underlying selection of
      independent directors – is this process rigorous, transparent and objective and is it aligned to the company’s needs?
    • It is important to focus on not just earnings but on the sustainability of business models. Focus on not just “How much?”
      but on “How?”, “At what cost?” and “At whose expense?”
    • Rating agencies need to develop criteria that focus on substance rather than the form of governance
    • Compensation of executive directors should flow from an objective performance evalution process conducted by the board
    • Greater transparency and disclosure of executive performance criteria are required which should include financial and
      non-financial measures
    • Regulators should send clear signals that they shall be proactive in imposing substantial penalties for non-compliance, so
      that compliance is strictly adhered to.

    ROLE of Comptroller & Auditor General :  To enhance accountability of the executive to the Parliament and State Legislatures by carrying out audits in the public sector and providing accounting services in the states in accordance with the Constitution of India and Laws as well as best international.

    This essay was written by a fellow student. You may use it as a guide or sample for writing your own paper, but remember to cite it correctly. Don’t submit it as your own as it will be considered plagiarism.

    Need a custom essay sample written specially to meet your requirements?

    Choose skilled expert on your subject and get original paper with free plagiarism report

    Order custom paper Without paying upfront

    What Is Good Corporate Governance?. (2018, Aug 11). Retrieved from https://graduateway.com/role-of-cag-in-meeting-challenges-of-good-governance/

    Hi, my name is Amy 👋

    In case you can't find a relevant example, our professional writers are ready to help you write a unique paper. Just talk to our smart assistant Amy and she'll connect you with the best match.

    Get help with your paper
    We use cookies to give you the best experience possible. By continuing we’ll assume you’re on board with our cookie policy