Good Corporate Governance Term Paper by Nicky

A look at the barriers and facilitators to good corporate governance.
# 146408 | 2,050 words | 11 sources | APA | 2010 | US
Published on Dec 26, 2010 in Accounting (Financial) , Business (Actuarial Science) , Law (Business) , Business (Management)


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Description:

This paper examines the elements that promote and discourage responsible corporate governance. Additionally, the paper cites the need for new banking regulations and corporate governance standards. This is further addressed by looking at several components of the modern business environment, such as the role of corporate governance, the need for transparent internal control and transparent reporting, accounting disasters, the Sarbanes-Oxley Act, the transition from ISO to IFRS or the corporate culture and the internal audit process within economic entities. Each of these issues is dealt with in-depth within the text. The paper also includes a list of the actual processes involved in an internal audit which promotes reliable and transparent reporting and a detail discussion of the Sarbanes-Oxley Act, which regulates the US the securities market . The paper concludes by noting corporate scandals which have resulted in the creation and implementation of the Sarbanes-Oxley Act and the transition to the International Financial Reporting Standards.

Outline:

Introduction
The Role of Corporate Governance in Modern Business
Reliable and Transparent Control and Reporting
Corporate Governance and Accounting Disasters
Effects of the Sarbanes-Oxley Act
The Transition to IFRS
Corporate Culture and the Audit Process
Concluding Remarks

From the Paper:

"The twentieth and twenty-first centuries have been filled with cases of corporate fraud, which led to millions of people being negatively affected. Some of the most notorious such situations were encountered at Enron, WorldCom and more recently, Societe Generale. The contemporaneous financial crisis, present at an international level, is increasing the pressure upon corporate players and the temptations to become engaged in illicit actions in order to salvage the company. The means of conducting such operations have become improved throughout the years, and when combined with the still ambiguous legislation, generate a need for more efficient standards to regulate corporate governance..."

Sample of Sources Used:

  • Bautista, L.R., 2004, Implications and Effects of Sarbanes-Oxley Act, Securities and Exchange Commission, Retrieved from http://www.adbi.org/conf-seminar-papers/2006/03/30/1739.implications.effects.sarbanesoxley/ on March 9, 2009
  • Choudhuri, A., January 2006, Corporate Accounting Disasters and the Aftermath: The Role of Risk-Based Internal Audit in Corporate Governance, ICFAI Journal of Audit Practice, VOl. 3, No. 1
  • Coley, J.L., Doyle, J.L., Stettinius, W., Logan, G., 2003, Corporate Governance, McGraw-Hill Professionals
  • Cooper, C., 2007, Extraordinary Circumstances: The Journey of a Corporate Whisleblower, John Wiley and Sons
  • Du Plessis, J.J., McConvill, J., Bagaric, M., 2005, Principles of Contemporary Corporate Governance, Cambridge University Press

Cite this Term Paper:

APA Format

Good Corporate Governance (2010, December 26) Retrieved November 24, 2020, from https://www.academon.com/term-paper/good-corporate-governance-146408/

MLA Format

"Good Corporate Governance" 26 December 2010. Web. 24 November. 2020. <https://www.academon.com/term-paper/good-corporate-governance-146408/>

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