Wednesday, May 15, 2019

Combine Code Essay Example | Topics and Well Written Essays - 1000 words

Combine principle - taste ExampleEvery stakeholders or sh atomic number 18holders shall also have the right to examine the organizations books of mark to its satisfaction. Dialogues and consultation between the room of directors and the stakeholders should not be limited to the annual general membership (AGM) meeting. In the interest of the publics and stakeholders rights, the accurate state and fiscal condition of the organization shall be fully disclosed to the stakeholders. The United Kingdoms Corporate organisation Codes aims to cherish the interest of stakeholders or sh atomic number 18holders of the organization in particular and the publics interest in general. The Governance Code mandates that controls and risk mitigation processes with the aim of harboring the interest of stakeholders are instituted and maintained by the administrator board tasked to manage the affairs of the organization on day to day basis. The executive board are mandated to regularly report incide nts and or explain incidents that would appear to be serious breaches in security. B. Explain why over the last two decades, numerous attempts have been made to improve corporate brass in the UK Organizations that operated in multiple jurisdictions have in the past been threatened by s undersidedals or have been sweep in scandals that affected not only the financial health of the countries where they operate but also the shareholders who are residents of the UK. Foremost of these are financial institutions hold principal offices in the UK or most of its stakeholders are UK residents and the equivalent organizations due to size, operation and influence have threatened the economic health of a country or the region in general if they are not properly managed. Exercising its inherent right to protect the publics interest, the government has been mandated to ensure that corporate governance is properly implemented in every(prenominal) organization where it has jurisdiction. This is to ensure that any financial mismanagement is detected and mitigated before it can adversely affect the entire organization and the country in general. Corporate governance is a set of controls knowing to ensure that all decisions of the executive leadership of an organization are compliant with good governance or if not, the leadership should be able to explain the rationale behind such decisions or directions. The UL Combined Code of Corporate Governance are therefore designed to prevent a national financial crisis that can be rooted from mismanagement or mishandling of funds in particular or the company in general from taking place. Recognizing the need from the experience of other countries, specially the United States, and was affirmed by its make experience in the 2008 financial crisis, the UK reviewed its corporate governance law. The need to improve stricter controls and update the intent and background of the law prompted the review and revision of the UK combined code o f corporate governance. C. Outline the recommendations of the UK Combined Code (2010) concerning the board chairman and briefly discuss why the code does not support board duality. Corporate governance practices have been embedded in corporate structures to make corporate officers more aware of their responsibilities and demand from them answerability and transparency in the performance of their fiduciary functions as well as in

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