Question

In: Accounting

Is consultation always necessary before the timetables for the implementation of corporate governance requirements are developed?...

Is consultation always necessary before the timetables for the implementation of corporate governance requirements are developed? Discuss in 80 to 100 words.

Solutions

Expert Solution

Solution:-

Corporate governance is the mechanisms, processes and relations by which corporation are controlled and directed. Governance structures and principles identify the distribution of rights and responsibilities among different participants in the corporation (such as the board of directors, managers, shareholders, creditors, auditors, regulators, and other stakeholders) and includes the rules and procedures for making decisions in corporate affairs.

Timetables for the implementation of corporate governance requirements are developed in consultation with stakeholders.

Consultation is an important and valuable part of the Governance document development or review process. Stakeholder are those individual/groups who will be impacted such as staff members, committees etc. Consultation may identify issues that you had not thought of and it will also alert the stakeholders to the pending introduction of a new or amended Governance document.


Related Solutions

List the legal requirements of the framework for China’s corporate governance.
List the legal requirements of the framework for China’s corporate governance.
Corporate social responsibility means that a company should consider a. the legal requirements for corporate governance....
Corporate social responsibility means that a company should consider a. the legal requirements for corporate governance. b. its impact on the personal lives of their employees. c. cost cutting opportunities to increase profit. d. its services to the communities in which they are located.
Go into the details of why is the implementation of corporate governance important? Class: Commercial Finance
Go into the details of why is the implementation of corporate governance important? Class: Commercial Finance
History: Governance has always been an issue, but when and how did modern corporate governance issues...
History: Governance has always been an issue, but when and how did modern corporate governance issues come into being a. What legislation in the mid 19th century gave birth to the Industrial Revolution and the modern corporation? b. What was the implication of the new legislation for: # of owners, and effective governance? How did it affect the connection between Shareholders and their appointed Directors? c. What other Institutions enhanced the growth of LLCs/Corporations? d. 20th century: many management advances:...
You have been hired to undertake a review of the corporate governance requirements of a company....
You have been hired to undertake a review of the corporate governance requirements of a company. The company was started as a private company and has expanded rapidly in the past five years.     The company recently became a publically listed company and the newly created board of directors has concerns that they are unsure of their corporate governance obligations.     The board has given you a very broad brief. Their terms of reference for your reporting requirements encompass describing...
What is corporate governance? What is the role of corporate governance?
What is corporate governance? What is the role of corporate governance?
What is Corporate Governance? Identify the objectives of the good corporate governance.
What is Corporate Governance? Identify the objectives of the good corporate governance.
Explain the evolution of corporate governance. What problems developed? What are the current trends? Discuss the...
Explain the evolution of corporate governance. What problems developed? What are the current trends? Discuss the pros and cons of the shareholder-privacy and director-primacy models of corporate governance. Which does your group prefer and why?
What events and conditions prompted the emergence of Corporate Governance in China? How has it developed...
What events and conditions prompted the emergence of Corporate Governance in China? How has it developed and evolved (if any) over time? Please provide sources if possible! Thank you!
In order to avoid mismanagement, good corporate governance is necessary to enable companies operate more efficiently,...
In order to avoid mismanagement, good corporate governance is necessary to enable companies operate more efficiently, to improve access to capital, mitigate risk and safeguard stakeholders. Based on the above statement, discuss FIVE (5) pillars of good corporate governance practices.
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT