How to renew corporate governance in crisis

by The Best Enterprise Risk Management Framework Executive Summary Data,  November 2nd, 2010.

The total failure of the business strategies of major financial institutions in the recent financial chaos, and called for the unprecedented government intervention on the survival of the global financial crisis to ensure, and raised doubts about the adequacy of corporate governance of financial institutions. The current crisis has also shown that the existence of non-executive directors, the board must protect it as inadequate, especially when manyLack of experience to effectively challenge their colleagues in the Executive.

Although the framework for corporate governance credibility is constantly called into question because of the current financial turmoil, is the most critical period of transition to discard emotion caused by the crisis and remains reasonable. All interested parties, including maps and shareholders should be their roles and responsibilities in what is done to accept and learn important lessons from this crisisto avoid repetition of same mistakes in future.

In response to the economic crisis, many governments have responded to the whole world is currently mainly focused on fiscal and monetary measures to mitigate the effects of the recession. Even if politicians are fast under pressure in the short term, to act, are aware that changes in long-term framework should be developed and for proper consultation and discussion. The directors of the companyshould consider the individual responses to the crisis.

A balanced response from the commission Governance in motion and should be beneficial, especially as the recession continues to unfold. This reaction is likely to maintain confidence in shareholders, other stakeholders to restore and ensure the survival and sustainable solid position at the operational level. The misfortune of some companies has important lessons for directors on corporate governance by allTypes of organizations in all sectors. (continue reading... )

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