Sample Assignment on Corporate Governance (Doc)

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CORPORATEGOVERNANCE
Table of ContentsINTRODUCTION...........................................................................................................................1MAIN BODY..................................................................................................................................1Corporate governance work in UK for large listed companies.............................................1CONCLUSION..............................................................................................................................5REFERENCES................................................................................................................................6
INTRODUCTIONCorporate governance is the system through which the organisation or the corporation isgoverned or controlled. It includes the set of practices and processes. Corporate governanceCode UK set out the standards for the listed companies of UK and it emphasis on relationshipbetween companies, shareholders and their stakeholders. It will consider the UK listedcompanies which are Tesco and Sainsbury. Tesco is the British general retailers and thesupermarket which provide variety of food products and other products. Sainsbury is the largestsupermarket chain in UK which provides different products to the customers. These companiesare involved in the same business and the industry. In this assignment it will provide informationabout UK corporate governance code and the developing awareness of the actual corporategovernance disclosures made in UK annual report and accounts.MAIN BODYCorporate governance work in UK for large listed companiesUK Corporate Governance CodeCorporate governance Code set out the standards which are required to followed by theUK listed companies for their good practices. The code focus on application of the principles. Itis the system by which the companies are directed and controlled. The Corporate GovernanceCode is published by Financial reporting council. As per this code, the boards of Directors areresponsible for the governance of their companies. The principle of collective responsibilitywithin the unitary board is successful. Moreover, the Stewardship activities of investors assistion delivering the higher standards of corporate governance (THE UK CORPORATEGOVERNANCE CODE,2018). The Code does not provide the rigid set of rules but instead itprovides flexibility through application of principles. The code contains the five section whichare as follows:Section 1: Board leadership and purposeSection 2: Division of responsibilitiesSection 3: Composition, succession and evaluation Section 4: Audit, risk and internal controlsSection 5: RemunerationsSection 1 – Board leadership and purpose- The principles which are being contained in thissection include the role of the board is to promote long term sustainability of the firm and1
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