Question

why is corporate governance more important in public listed companies than in private companies? what does accountability mean in the context of corporate governance

Answer 1

• Most essential element in the public sector corporate governance is performance aspect and conformance aspect that is equally important.
• Public sector corporate governance is necessary to improve the quality of service.
• To improve the weakness and failures of private sector practice like collapse and scandal of big corporation, corporate governance (private sector corporate governance) can learn from public corporate governance.
• Public governance gives a new insight to improve governance of the corporation.
• Board accountability is an important thing of strong corporate governance.
• Accountability is about taking responsibility for all of a company's activities and presenting a fair, balanced and understandable assessment of an organization's position and prospects to stakeholders.