Back to: Accounting 101
Welcome back!
Today, we’re going to explore corporate governance, an essential concept for businesses, especially as they grow.
Introduction to Corporate Governance
Corporate governance refers to the systems, rules, and practices that ensure a company is run ethically and in the best interests of its stakeholders.
What is Corporate Governance?
Corporate governance ensures that a company is accountable to its shareholders, employees, and customers. It includes practices like transparency, fairness, and accountability.
Why Corporate Governance is Important:
Good governance leads to better decision-making, improves trust with investors, and ensures the company’s long-term success.
Talking about introduction to corporate governance encompasses the foundation of the subject matter. Corporate governance in accounting is a critical aspect of business studies in Nigerian universities. It refers to the system of rules, practices, and processes by which a company is directed and controlled.
The primary objective of corporate governance is to ensure that a company is managed in a responsible and transparent manner, with the aim of maximising shareholder value while also considering the interests of other stakeholders. In Nigeria, corporate governance is guided by the Securities and Exchange Commission (SEC) Code of Corporate Governance and the Nigerian Code of Corporate Governance.
In Nigeria, students of accounting are taught the principles and practices of corporate governance, including the roles and responsibilities of the board of directors, audit committees, and external auditors.
They also learn about the importance of internal controls, risk management, and disclosure requirements in ensuring good corporate governance. The curriculum typically covers topics such as corporate governance frameworks, board composition and structure, executive compensation, and shareholder activism. Students are also taught how to apply these concepts in real-world scenarios through case studies and practical exercises.
The study of corporate governance in accounting is essential for Nigerian students, as it prepares them to become professionals who can contribute to the development of effective governance systems in organisations.
By understanding the principles and practices of corporate governance, accounting graduates can play a key role in promoting transparency, accountability, and good governance practices in the business community.
This, in turn, can help to enhance the credibility and reliability of financial reporting, and promote investor confidence in the Nigerian capital market.
Evaluation:
Why is transparency important in corporate governance?
This concludes the second semester lesson plan. Each lesson builds on the knowledge gained in the first semester, providing more advanced topics that will help your understanding of accounting.
School Owner? Automate operations, improve learning outcomes and increase your income with Afrilearn SMSGet more class notes, videos, homework help, exam practice on Android [DOWNLOAD]
Get more class notes, videos, homework help, exam practice on iPhone [DOWNLOAD]