Corporate Governance Policies in Ireland - Assignment Example

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The present study “Corporate Governance Policies in Ireland” is an attempt to examine the impact of corporate governance practices implemented by revenue commission in the UK on the customers’/ taxpayers’ satisfaction. Government departments should exhibit transparency…
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Corporate Governance Policies in Ireland
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Download file to see previous pages Corporate governance is a conscious and sustained effort on the part of a corporate entity to strike a judicious balance between its own interest and that of its stakeholders. It is the relationship among various participants in determining the direction and performance of corporations. It is not merely enacting legislation, but instilling an environment of trust and confidence as ethical business behavior and fairness cannot be legislated. It aims at minimizing the chances of corruption, malpractices, financial frauds, and misconduct of management. It provides various codes and regulations to establish an effective governance system and to monitor the performance of corporations in the context of transparency, advocacy, accountability and social contribution to the society. Governance is not just a pious platitude. It is the accumulated outcome of inspiration, influence, wisdom, guidance, and control, which keeps a body or an organization not only moving but also moving on the right track and at the right speed. It is inherent in the very nature of cosmic as well as human systems. However, corporate governance is essentially a state of mind and a set of principles based on relationships. It can work only if the people entrusted with these responsibilities believe in and are committed to the principles that underline effective corporate governance, which is the ultimate analysis, is a way of life and not mere compliance with a set of rules. Ideals of corporate governance primarily need transparency, full disclosure, fairness to all stakeholders and effective monitoring of the state of corporate affairs. It is, thus, concerned with values, vision, and visibility. Sound corporate governance practices lead to greater management accountability, credibility, and enhance public confidence.
Statement of the Problem
With the corporate scandals in early 2000, corporations across the world are under pressure to convince and ensure that the various stakeholders are happy with the system of corporate governance. Many new standards/policies of Corporate Governance (CG) and changes in accounting and reporting. The shared goals of this review are to evaluate the available body of knowledge in this area, to assess the prior research that has already been undertaken and to highlight how the present study is linked to them. It is also hoped that the literature review would help in integrating and summarizing the existing knowledge and would lead to the generation of new ideas.  ...Download file to see next pagesRead More
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