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Fostering a culture of transparency

Good corporate governance standards alone are not enough to prevent financial scandals. Stakeholders must also actively get involved.

Published Wed, Dec 3, 2014 · 09:50 PM

CORPORATE governance rules and standards by themselves are not able to prevent crises of the kind that occurred during the great financial crisis of 2008, but require stakeholders to ensure that company boards comply with them.

This was one of the hot-button topics at a panel discussion held last month to discuss the key findings of the ACCA-KPMG report, Balancing corporate governance rules and flexibility: A study of requirements across 25 markets.

The moderator of the session, Chiew Chun Wee, ACCA's Asia-Pacific head for policy, said the report found the corporate governance (CG) framework…

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