Corporate governance is the systematic approach to a corporation’s organizational structure, operations, responsibilities, and regulatory affairs. By way of contract and statute, it defines the roles of individual and business participants in a corporation, from employees and shareholders to creditors and regulators. Efficient corporate governance establishes a mechanism for monitoring the actions of these participants and holding them accountable for such actions. It also allows for proper corporate planning to avoid and plan for situations where such participants commit actions that without proper planning may otherwise damage an organization.
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Sarbanes-Oxley Act of 2002
The Sarbanes-Oxley Act is an attempt by the United States federal government to provide financial transparency and threshold requirements in financial corporate governance, specifically for public corporations. Whether an organization is publicly traded or is a private, single shareholder corporation, it is important to consult with a skilled corporate attorney who can walk a corporation’s officers and directors through its federal and state requirements and assist in preparing the right systematic approach for proper corporate governance.
For more information regarding corporate governance, please see Corporations
and Supporting Corporate Governance, Including Annual State and Federal Filings
Free Corporate Governance Consultation
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