Corporate governance is a term used frequently, but what exactly does the term mean? An Internet search for the definition of corporate governance returns more than 5,000 results. For the purpose of this article, we will define corporate governance as the culture within an organization that promotes integrity, ethical standards, and corresponding controls that emphasize and demonstrate a commitment to a strong control environment.
This article focuses on strategies nonpublic companies can use to strengthen their corporate governance, starting at the top. Many of these concepts evolved from Sarbanes-Oxley Act requirements and have been adopted by organizations exempt from the act because they are considered to be good business or best practices.
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Length: 2 pages (PDF 90 kB)