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rnational issue, as poor corporate governance performance can lead in undermined confidence in capital markets.
The EU has different systems of corporate governance, reflecting difference cultures and therefore the difference as companies and industries should be financed.
Over the last ten years corporate governance codes has been adopted at international and national level, always having a concern towards shareholders interest
The European Commission revised in 2001 some of the main corporate governance codes by a high level group of company law experts (HLG) this revision finished in 2002 and it concluded that the European Commission has not the necessity to develop an European corporate governance code, this conclusion might indicate that failures at international firms is not directly related to the standards of corporate governance.
The (HLG) observed that there are some differences related to company law, but not to corporate governance, as they showed significant convergence. However the EU play an important part in corporate governance , due that, some principles still need to be add at EU level and the following suggestions should be taken into consideration:
Enhancing Corporate Governance Disclosure: companies should include into their annual report and accounts information about corporate governance, showing the shareholders rights, composition of the board. Institutional investors should disclosure their investment policy.
Strengthening Shareholders’ rights: electronic facilities should be provided to shareholders, hence they can access to relevant information and even vote in absentia.
Modernising the Board of Directors: To avoid conflicts of interests such as remuneration of directors, decisions should be taken by non- executives or supervisory directors and shareholders should have the facilities to observe how the performance of the company is linked to the remuneration of directors, a drastic suggestion, which I agree with, was directors disqualification across the EU in case of misleading relevant information.
Co-ordinating Corporate Governance Efforts of Members States: As it was said before there are some differences within company law, therefore EU must work to coordinate corporate governance through company law.

CORPORATE GOVERNANCE IN US

As It was said before corporate governance is an issue which is seeing as an international matter, it can be seen by the recent developments in the United States, when the Sarbanes- Oxley Act was adopted in 2002, Due to a series of scandals, the Act has affected the relationship between the board of directors and chief executive as well as in auditor relations, it has resolved some potential conflicts with management. “Section 404 of that Act, for example, generally requires that outside accountants attest to management’s assessment of the effectiveness of its internal controls and its internal financial reporting procedures”. This regulation has affected the internal culture and control practice of corporations, as a consequence financial information is more accurate and reliable and investors are more confident. In this point it can be argued that corporate governance in US does not need to improve. However the improvements made so far has had some cost as it has increased auditing costs. It is interesting to see how all those changes on regulations improving 本论文由英语论文网提供整理，提供论文代写，英语论文代写，代写论文，代写英语论文，代写留学生论文，代写英文论文，留学生论文代写相关核心关键词搜索。