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explain the need for corporate governance?
Corporate governance is about the way in which boards oversee the running of a company by its managers, and how board members are in turn accountable to shareholders and the company. [ This has implications for company behaviour towards employees, shareholders, customers and banks. Good corporate governance plays a vital role in underpinning the integrity and efficiency of financial markets.
Poor corporate governance weakens a company’s potential and at worst can pave the way for financial difficulties and even fraud. If companies are well governed, they will usually outperform other companies and will be able to attract investors whose support can help to finance further growth. There is the need for corporate governance mainly because corporate governance balances the interests of, and relationships between, a company's employees, owners and customers to ensure the long-term sustainability and success of a corporate venture. As corporate governance develops as an independent field of study and professional practice, nearly all aspects of a corporation's operations fall under this umbrella term. Human resources and public relations departments play an increasingly important role in the governance structure of a corporation. As public and legal expectations of corporations evolve, so must a corporation's governance structure. Business ethics are integral to the integrity of a corporate governance structure. Policies and procedures originating from ethical, responsible decisions maintain the immediate and long-term health of a corporate enterprise. ]
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User: explain the need for corporate governance?





Weegy: Corporate governance is about the way in which boards oversee the running of a company by its managers, and how board members are in turn accountable to shareholders and the company. [ This has implications for company behaviour towards employees, shareholders, customers and banks. Good corporate governance plays a vital role in underpinning the integrity and efficiency of financial markets. Poor corporate governance weakens a company’s potential and at worst can pave the way for financial difficulties and even fraud. If companies are well governed, they will usually outperform other companies and will be able to attract investors whose support can help to finance further growth. There is the need for corporate governance mainly because corporate governance balances the interests of, and relationships between, a company's employees, owners and customers to ensure the long-term sustainability and success of a corporate venture. As corporate governance develops as an independent field of study and professional practice, nearly all aspects of a corporation's operations fall under this umbrella term. Human resources and public relations departments play an increasingly important role in the governance structure of a corporation. As public and legal expectations of corporations evolve, so must a corporation's governance structure. Business ethics are integral to the integrity of a corporate governance structure. Policies and procedures originating from ethical, responsible decisions maintain the immediate and long-term health of a corporate enterprise. ]
Expert answered|bongche|Points 1664|

User: What is the purpose of King Code on governance principles(king code 3)?

Weegy: The purpose of King Code on governance principles(king code 3) is to bring IT governance clearly into the corporate governance arena , in the sense that Information systems were used as enablers to business, [ but have now become pervasive in the sense that they are built into the strategy of the business. The pervasiveness of IT in business today mandates the governance of IT as a corporate imperative. ]
Expert answered|bongche|Points 1664|

User: What is the status of King Code on governance principles(king code 3)in south africa?

Weegy: In an Interview with Mervin King, he shared his belief that one of the fundamental mistakes they made in the King II report was to include sustainability as a separate chapter, leading companies to report on sustainability in a silo. [ Instead governance, strategy and sustainability should be inseparable and integrated into the DNA of the company.[4] This principle formed the cornerstone of the King III report which was published in 2009.[12] King III recommends that organizations produce an integrated report in place of an annual financial report and a separate sustainability report. King III further recommends that companies create sustainability reports according to the Global Reporting Initiative's Sustainability Reporting Guidelines.In contrast to King I and King II, King III is applicable to all entities; public, private and non-profit. King encourages all entities to adopt the King III principles and explain how these have been applied or are not applicable. The King III code of governance was applicable from March 2010.King III has incorporated a number of new principles to address key new governance elements not previously included in the King reports. These include: IT governance Business Rescue Fundamental and affected transactions in terms of director’s responsibilities during mergers, acquisitions and amalgamations. The King code of corporate governance is not enforced through legislation. Due to evolutions in South African law many of the principles put forward as part of King II are now embodied as law in the Companies Act of South Africa of 2008. In addition to the Companies Act, there are additional statutes that are applicable to companies and directors that encapsulate elements of the principles of King III such as the Public Finance Management Act and the Promotion of Access to Information Act. ]
Expert answered|bongche|Points 1664|

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Asked 4/21/2012 1:13:27 AM
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