Using best practices as a basis, the Corporate Governance Code outlines the standards for corporate board expectations in protecting shareholder investments. Corporate governance is the system of rules, practices and processes by which a company is directed and controlled. The measure will clarify and simplify corporate governance responsibilities for listed companies. For example, corporate governance became a pressing issue in the United States in the early 21st century, after fraudulent practices bankrupted high-profile companies such as Enron and WorldCom.
The Monetary Authority of Singapore (MAS) today announced the composition of the newly created Corporate Governance Council. Corporate governance of a company is important to investors, as it demonstrates the company's direction and business integrity. The board is tasked with making important decisions, such as appointments of corporate officers, executive compensation, and dividend policy. The intellectual and industrial property rights in the website, including the design of its content, the sui generis right to the underlying databases, the graphic design and the user interface (the look and feel of the website), the underlying computer programs (including source codes and objects) and the various The elements that make up the website (texts, graphics, photos, videos, sound recordings, etc.) (the “content) are owned or managed by the BBVAMF and its licensors.
The Report (Appendix 6 of the Code) must be made available to shareholders and other interested parties, and must be signed by the Board of Directors. Corporate governance is important because it creates a system of rules and practices that determine how a company operates and how it aligns the interests of all its stakeholders. A few months after the supervisory board of the national financial system, Conassif, published its Corporate Governance regulations that contain the international principles and standards that regulated entities must incorporate into their strategies, the Institute of Corporate Governance (IGC) of Costa Rica) has taken the next step in the the country's push to promote best corporate governance practices in all businesses with the publication of this code. What happened at Enron was clearly a lack of corporate governance that should have prevented the creation of these entities that concealed losses.
It provides organizations with greater flexibility in achieving compliance, so that each institution can adopt its own policies and practices, even if not covered by the code, to serve the same purpose. There are certain areas that an investor can focus on to determine if a company is practicing good corporate governance or not. The Monetary Authority of Singapore (MAS), the Accounting and Corporate Regulatory Authority (ACRA) and Singapore Exchange Ltd (SGX) today created the Audit Committee Guidance Committee (ACGC). The board of directors must ensure that the company's corporate governance policies incorporate corporate strategy, risk management, accountability, transparency and ethical business practices.