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Corporate Governance and Legal Accountability A Critical Evaluation of Global Standards and Practices

Alok Gupta

CrossRef DOI : 10.31426/ijamsr.2024.7.11.7911

CrossRef DOI URL : https://doi.org/10.31426/ijamsr.2024.7.11.7911

Download PDF Google Search Abstract

This global study critically analyses corporate governance and legal accountability. One perspective is also examined in the study. Organizations need strong governance structures to handle the complicated and interdependent business environment. These mechanisms should promote honesty, accountability, and integrity. The research examines corporate governance over time, focusing on frameworks like the Sarbanes-Oxley Act and the OECD Principles and stakeholder theory's impact on governance practices. The analysis found that solid internal controls, transparent financial reporting, and diverse, independent boards constitute corporate governance best practices. The paper explores the difficulties of implementing these approaches. These hurdles include leadership buy-in, legislation complexity, and short-term thinking. It also examines the growing importance of ESG (environmental, social, and governance) factors and corporate social responsibility (CSR) in governance frameworks and business sustainability. The essay examines how contemporary developments, such as diversity and inclusion programs and technological advances, may change government surveillance methods. Regulatory agencies and international programs are also highlighted, focusing on how they help build an ethical and accountable community. This research seeks to explore the basic factors that affect corporate responsibility and governance in the modern business environment by incorporating insights from many sources. The research concludes that governance practices must be continually examined and changed to suit stakeholders' shifting expectations and ensure the organization's long-term effectiveness.

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