Corporate Governance

Definition of Corporate Governance as it relates to Business, Accounting Principles, Internal Audit

Corporate Governance refers to the system of rules, practices, and processes by which a company is directed and controlled. It involves balancing the interests of diverse stakeholders including shareholders, management, customers, suppliers, financiers, government, and the community. Corporate Governance promotes transparency, accountability, fairness, and responsibility in the decision-making process and ensures compliance with laws and regulations. It encompasses internal audit, accounting principles, and business conduct, providing a framework for effective risk management and value creation. In essence, Corporate Governance is about ensuring that a company is run in an ethical, transparent, and accountable manner, with the aim of creating long-term sustainable value for all stakeholders.

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