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This was mainly overcome by sticking to the guidelines provided in the aims and objectives of the report. The time duration to complete this report was also a matter due to a large amount of literature document was to be undertaken. The deadline outlined by the University authorities was strict and the work was expected to be précised. These limitation were eliminated by setting up deadlines, for number or weeks to ensure some productive result.

Conclusion

The objectives of the report were attained by analysing different literature and theoretical background of subject matter. The case studies involved in the report allowed a solid background of examples of two companies who already have experienced Corporate scandals. Both are different from each other, Maxwell is a publishing company and Andersen is in auditing business. But a number of reason from both the failures pointed out were similar. The internal control and dishonesty were mainly lacking in both the cases.

These and other such failure has led the intervening organisation to change the ongoing system to maintained trust and honesty, thus Corporate Governance is changed now and is evolving into a better shape. The combined code of Corporate Governance (1998/2003) and The Turnbull Guidance (1999/2005) are now in place as two concise and informative documents. USA has introduced in the legislation for companies to be enforced by Corporate Governance but in UK the companies on the stock exchange has to declare where they are complying with it or not.

The Cadbury Report (1992) was implemented as the direct response to corporate scandals, which were highlighted through the introduction of Corporate Governance Guidance. The negative effects through Corporate scandals were so many from which the main were job losses and shareholders trust loss but these were also the main idea for intervening the organisations with regards to Corporate Governance.

Recommendations

The discussion on Corporate Governance is widespread in around every country disregards of it is developed or developing. However, there might be different methods of having a check and internal control on different companies in different states due to the countries economic policies as Russia and China are following a different economic ideology as compared to USA and UK. The comparison between these two ideological background of internal control could be useful in line with further changes and evolution to Corporate Governance.

Since past fourteen years, Corporate Governance has evolved a lot, when the Cadbury Report was introduced and for further research, it could be a worthwhile project to analyse corporate governance changes in these years.

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