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Corporate governance is the term used to describe the structure, procedures as well as policies and customs which govern how people manage and direct an organization. Typically, this means creating a long-term vision of the company, establishing and documenting real estate data room procedures that help to achieve it, and regularly reviewing performance and assessing the needs of all stakeholders. Good corporate governance focuses on the principles of transparency, accountability, diversity and fairness.

It is required that businesses provides all pertinent information including financial results meetings, minutes of meetings and their outcomes as well as changes to the normal operation and resignations and replacements of key members of the board and managers. This promotes honesty, integrity and an openness to share both good and negative news with shareholders, staff and vendors, as well as the community and other stakeholders.

In general, the board’s task is to create the system of checks and balances to ensure that shareholders are treated fairly, and management decisions are sound. This also includes overseeing the effectiveness of internal controls to ensure compliance with the law and regulations.

Different models of corporate governance are utilized all over the world. The most common is the Anglo American model that prioritizes the interests of shareholders in the management and decision-making process. This model is widely used by businesses in multiple countries, but there are other governance models that are in use. Although they differ, all share some commonalities and all share the same fundamentals.