CORPORATE GOVERNANCE INTERNAL CONTROL

May 29th, 2015
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Aberystwyth University
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Def-Corporate Governance is the application of best Management practices, Compliance of law in true letter and spirit and adherence to ethical standards for Effective Management and distribution of wealth and discharge of social Responsibility for sustainable development of all stakeholders”.

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Corporate governanceDef-Corporate Governance is the application of best Management practices, Compliance of law in true letter and spirit and adherence to ethical standards for Effective Management and distribution of wealth and discharge of social Responsibility for sustainable development of all stakeholders.Corporate governance is concerned with set of principles, ethics, values, morals, rules regulations, & procedures etc. Corporate governance establishes a system whereby directors are entrusted with duties and responsibilities in relation to the direction of the companys affairs.The term governance means control i.e. controlling a company, an organization etc or a company & corporate governance is governing or controlling the corporate bodies i.e. ethics, values, principles, morals. For corporate governance to be good the manager needs to meet its responsibilities towards its owners (shareholders), creditors, employees, customers, government and the society at large. Corporate governance helps in establishing a system where a director is showered with duties and responsibilities of the affairs of the company.The concept of corporate governance is not an end; its just a beginning towards growth of company for long term prosperity.HISTORY & NEED OF CORPORATE GOVERNANCECorporate governance concept emerged in India after the second half of 1996 due to economic liberalization and deregulation of industry and business. With the changing times

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