... the best interest of the company and its shareholders. "Corporate governance refers to the way in which companies are governed, and to what purpose", ICSA (2003). A company has a purpose to achieve its objectives and in order to do that it must follow guidelines or rules. Governance helps to provide guidelines and a direction for a firm to meet its objectives. "A company should be governed in a way that moves it towards the achievement of its objectives" ICSA (2003). It has become quite clear in recent years that from the attention that corporate governance is receiving from the media that the subject has become a major issue in the global economy. It is the economy that depends on the companies operating under it, so therefore the extent to how companies are run and how they manage their responsibilities determines the country's competitive and economic position. The companies should ...

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