What are the Key Components of Corporate Governance?
The key components of corporate governance include:
1. Board of Directors: The board is responsible for the overall governance of the company. It provides oversight and guidance to the executive management. 2. Ethics and Compliance: Corporate governance frameworks often include codes of conduct and ethics that guide the behavior and decisions of employees and executives. 3. Stakeholder Engagement: Engaging with stakeholders ensures that their interests are considered in decision-making processes. 4. Internal Controls and Audits: These mechanisms ensure that financial reporting and operational processes are accurate and reliable.