ASSIGNMENT COVER SHEET
(to be completed by the student)
AIB student ID number:
Kamla Rampersad de Silva
No. of pages:
I, the above named student, confirm that by submitting, or causing the attached assignment to be submitted, to AIB, I have not plagiarised any other person’s work in this assignment and except where appropriately acknowledged, this assignment is my own work, has been expressed in my own words, and has not previously been submitted for assessment.
(to be completed by the examiner)
Student name:…show more content… Responsibility 8: Corporate Social Responsibility 12
4. Recommendations 12
5. Conclusion 14
6. References 15
Corporate entities of all types need a governing body. In the case of a company, this is its board of directors. Corporate entities governed by a board of directors face the central challenge of the agency issue. Whenever a principal has to rely on agents to handle his or her business, governance issues arise. (Tricker 2012)
Presently, corporate governance is an evolving concept as such there is no fixed definition. However, corporate governance has been defined as, “the system by which companies are directed and controlled.” (The Report of the Cadbury Committee on The Financial Aspects of Corporate Governance: The Code of Best Practice 1993)
Recent high-profile corporate failures, scandals and, in some cases, executive corruption, have focused international regulatory and public attention on the need for having appropriate corporate governance standards and practices. (Leblanc 2005) As such, much emphasis is being placed on board evaluation.
The ‘principles-based’ model of corporate governance is applied in Commonwealth countries. Under this model companies are required to report that they have followed the governance principles laid down in the codes or to explain why they have not. (Tricker 2012)
Guyana being a Commonwealth country is subject to this self-regulatory framework of corporate governance. This paper used the