English: Corporate Governance (Photo credit: Wikipedia)
Corporate governance is vital to societies that depend on business to create economic wellbeing. Achieving good corporate governance is complex: it involves economics,politics and fundamental aspects of human nature as well as business and markets. Partlyfor the sake of brevity and because the term corporate governance is not just relevant to companies, the word governance is generally used in this paper. Ultimately, governance is about how to make good decisions. As providers of financial information to support better decision making, accountants play a key role in governance.
Capital markets, and attitudes to them, have changed radically in the 20 years since the
present direction of governance was set. ACCA is now questioning whether existing
corporate governance and risk-management frameworks remain fit for purpose in light of
current financial and economic conditions and our experience of how the frameworks have
operated in practice over the past two decades. Although corporate governance has grown
from sound roots, it has become burdened with excessive rules and too much complexity.more
present direction of governance was set. ACCA is now questioning whether existing
corporate governance and risk-management frameworks remain fit for purpose in light of
current financial and economic conditions and our experience of how the frameworks have
operated in practice over the past two decades. Although corporate governance has grown
from sound roots, it has become burdened with excessive rules and too much complexity.more
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