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About Corporate Governance

Significant business scandals in recent years have seen the topic of corporate governance hit news like never before. Investors and other stakeholders such as staff and investors have expressed concerns about the lack of accountability of the management's higher echelons, especially the board of directors.With increased attention, not only are businesses under strain to name suitable people to the board of directors, the directors themselves are also taking control of the company very seriously. The courts have not shied away from raising the corporate curtain in making executives accountable for unethical business activities in recent years, but the Australian Securities & Investments Commission ("ASIC") has also introduced high-profile prosecution of top flyers.Strong corporate governance demands that executives assume accountability for their decision-making and be responsible to those concerned, including staff, shareholders, investors and regulators.You may find more details about this at stakeholder management theory.

Directors will recognize what the business is doing, behave frankly and in the best interests of the client. The directors must insure that the business maintains correct accounting documents. The supervisors will have first-hand experience of the activities and success of the company when carrying out their duties. They need to hire qualified advisors to help them make choices. We will ought to challenge the company on a daily basis with the lower management and other staff. They will have to follow the requisites of ASIC and the Australian Stock Exchange for listed firms.Who and who are the Directors responsible to?Liability of directors may emerge in several forms, such as: 1. When the officers have behaved dishonestly or fraudulently, the owners will be found liable; 2. Unless the directors permitted the company to operate when it became insolvent, then shareholders may be found liable; 3. Unless the company has not issued sufficient paperwork to the authorities or met with regulatory provisions, instead the directors will be responsible for this.Who should be Managers?Anyone who is older than 18 can be a agent. The employee does not be an undischarged debtor or prosecuted under corporate law of specific crimes such as bribery or offences.