Regulatory Framework: to ensure corporate governance:

May 29th, 2015
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Corporate governance has also been defined as "a system of law and sound approaches by which corporations are directed and controlled focusing on the internal and external corporate structures with the intention of monitoring the actions of management and directors and thereby mitigating agency risks which may stem from the misdeeds of corporate officers."

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SEMINAR III 12-Nov-2013CORPORATE GOVERNANCECorporate governancerefers to the system by which corporations are directed and controlled. The governance structure specifies the distribution of rights and responsibilities among different participants in the corporation (such as the board of directors, managers, shareholders, creditors, auditors, regulators, and otherstakeholders) and specifies the rules and procedures for making decisions in corporate affairs. Governance provides the structure through which corporations set and pursue their objectives, while reflecting the context of the social, regulatory and market environment. Governance is a mechanism for monitoring the actions, policies and decisions of corporations. Governance involves the alignment of interests among the stakeholders. There has been renewed interest in the corporate governance practices of modern corporations, particularly in relation to accountability, since the high-profile collapses of a number of large corporations during 20012002, most of which involved accounting fraud.Corporate scandalsof various forms have maintained public and political interest in the regulation of corporate governance. In the U.S., these includeEnron CorporationandMCI Inc.(formerly WorldCom). Their demise is associated with theU.S. federal governmentpassing theSarbanes-Oxley Actin 2002,

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