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

Combine Code - Essay ExampleEvery stakeholders or shareholders shall also endure the right to examine the organizations books of account to its satisfaction. Dialogues and consultation between the board of directors and the stakeholders should not be limited to the annual universal membership (AGM) meeting. In the evoke of the publics and stakeholders rights, the accurate state and fiscal condition of the organization shall be fully disclosed to the stakeholders. The get together Kingdoms Corporate Governance Codes aims to protect the interest of stakeholders or shareholders 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 protecting the interest of stakeholders are instituted and maintained by the executive board tasked to manage the personal business of the organization on day to day basis. The executive board are mandated to regularly report incidents 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 governance in the UK Organizations that operated in multiple jurisdictions have in the past been threatened by scandals or have been embroiled in scandals that affected not only the financial health of the countries where they operate further 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 same organizations due to size, operation and figure out have threatened the economic health of a country or the region in general if they are not properly managed. Exercising its intrinsical right to protect the publics interest, the government has been mandated to ensure that corporate governance is properly implemented in every organization where it has jurisdiction. This is to ensure that whatever fin ancial 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 designed to ensure that all decisions of the executive leadership of an organization are compliant with good governance or if not, the leadership should be capable to explain the rationale behind such decisions or directions. The UL Combined Code of Corporate Governance are therefore designed to prevent a bailiwick financial crisis that can be rooted from mismanagement or mishandling of funds in particular or the company in general from taking place. Recognizing the compulsion from the experience of other countries, specially the United States, and was affirmed by its own experience in the 2008 financial crisis, the UK reviewed its corporate governance law. The need to improve stricter controls and update the intent and scope of the law prompted the review and revision of the UK combined code of corporate govern ance. C. Outline the recommendations of the UK Combined Code (2010) concerning the board chairman and briefly establish why the code does not support board duality. Corporate governance practices have been embedded in corporate structures to make corporate officers more awake(predicate) of their responsibilities and demand from them accountability and transparency in the performance of their fiduciary functions as well as in