Economic Development Of A Country s Economy Essay

We often classify countries and areas in the world by how developed they are, but this is term is relative, depending on your measurement. There are many factors that count towards a country’s economy that is difficult to quantify. The popular measurements for economic development are Gross Domestic Product (GDP), which is the value of all the recognized goods and services produced in a country in a specific period of time usually a year, and Gross National Income (GNI), quantified by the summation of the GDP and the net income acquired overseas (Investopedia). There is GDP per capita which is the indicator of the personal income of the country (Chidakel and Herrero). If we go by these numbers we conclude Africa is underdeveloped because all the numbers are low compared to the known developed countries like Germany, Norway, Canada etc. In Ethiopia the annual GDP per capita is $505 in 2013 (Indicators), while Libya’s annual GDP per capita is $11,964 in 2013 (Indicators) and the United States of America annual GDP per capita is $53,042 in 2013 (Indicators). Libya being one of countries in Africa that are above the average, when compared to the USA it is about 4 times poorer, Ethiopia is about 100 times poorer when compared to the USA, now this comparison does not tells much about the economy in the country, since goods in African countries do not have the same value in Europe or USA, we need to look at the purchasing power parity (PPP). In Ethiopia the GDP (PPP) is 118.2Show MoreRelatedFactors of Economic Development1163 Words   |  5 PagesFactors of economic development Economic development involves actions that are sustained and concerted by policy makers and the entire community. These actions lead to improved standards of living as well as the economic health within a specified area either in the local, regional or global environment. Economic development can also be termed as the qualitative and quantitative changes that occur within an economy. For economic development to take place there has to be contributions by variousRead MoreEssay on India China Economic Growth893 Words   |  4 Pagesabout 1.2 million populations and china with about 1.3 billon population are two big demographic and emerging countries in the world .Over a past few decade Indiaà ¢Ã¢â€š ¬Ã¢â€ž ¢s combination into the economic has been accompanied by remarkable economic growth (World Bank 2011 ¬).India is having the 3th position on the economy in purchasing power parity (PPP) terms (The Economic Times, 2012). Indiaà ¢Ã¢â€š ¬Ã¢â€ž ¢s total GDP (gross Domestic Produ ct) growth was 5.5% in 2012 and inflation rate is was .........(The EconomistRead MoreSingapore s Trade Between Singapore And Japan1367 Words   |  6 Pagesof the worlds leading economic countries accounted for more than three fourths of Singapore s trade in services, while other smaller countries accounted for the remaining one fourth. 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The growing link between these two groups of economies increased eventually in addition to the increase in the rate of dependability amongst them. With the rapid growth in wealth and industrialization of the First World, only a few developing countries managed to have adequate economic growth on the line of the developed countries. Many of the d eveloping countries which were poor at that time still remainedRead MoreChinese Economic Development And Structure Problem986 Words   |  4 Pages Chinese economic development and structure problem Key question: China s economy, (China s economic have increased of Efficiency Analysis .) China s economic high speed growth can be remained? PESTEL China s economic have increased of Efficiency Analysis . After Chine revolution , Chinese economic have increase very fast , take GDP for a example,after economic revolution , about annual growth rate have keep or more than double-digit , this is very crazy. However ,according to the explain

Gender Stereotypes Masculinity And Femininity - 1195 Words

In children films, they makes assumptions of what male and female roles should be. It teaches kids early on that this is how you should act if you fall into a certain gender role. These films reinforce our cultural definition of how we as a society defines masculinity and femininity. It is not necessarily a right thing. But the idea of what a male and female characteristics should have and how they should act is so tightly bound to our western views that it is hard to not have stereotyped gender roles. It is an awful truth, but it needs to be said that the influence of gender roles as a result, influences what happens in children’s movies. It is inevitable to not have stereotype gender roles in our society, because it is a fault that comes with having any type society. We as an advanced westernized civilization have a very different definition of gender roles and what it means to be masculine and feminine. In the article. â€Å"Gender Stereotypes: Masculinity and Femininityà ¢â‚¬  we as a culture define femininity as â€Å"women being passive, dependent, pure, refined and delicate† , but masculinity as men beginning â€Å"active, independent, coarse, and strong† . Culture dictates characteristics of what we associate with each gender. For example in matrilineal societies like the Khasi of Meghalaya in India, the women in the family are more dominant and the men are weaker. Also other cultures acknowledge multiple gender identities, like cross-gender working roles, transvestism, associationsShow MoreRelatedGender And Gender Roles1099 Words   |  5 PagesThe topic of gender roles is a subject that has been discussed and argued upon for several years, regarding the depiction and expectations of what it means to be a man and, conversely, what it means to be a woman. Along with the topic comes what and how society defines masculinity and femininity. Society has given men the title of being masculine due to the reflection of   dominance, st rength, aggressiveness, independence , and the use of interpersonal skills. Whereas society has given females theRead MoreReflections On Gender On Science1652 Words   |  7 Pagesrules of arithmetic. We didn t want it to come out that way, but it did. Weinburg explains that science, like arithmetic is ultimately an objective discourse—free from subjectivity and emotion. However, in Evelyn Fox Keller’s novel Reflections on Gender on Science, she argues against science as being an objectivist ideology. She asserts that science does not encompass the complete truth, but is rather a perverted, masculine discourse. Keller critiques Weinburg’s assertions as faulty, where she arguesRead MoreGender Roles And Expectations Of Romanian Men And Women933 Words   |  4 Pagesgovernance over their bodies, restrictive reproductive policies that emphasized the femininity of women were created. 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They have a strong role inRead MoreEssay on Gender Stereotype538 Words   |  3 PagesGender Stereotype According to the writers in chapter, â€Å"Gender Stereotyping And the Media†, gender stereotypes are harmful to men and women. Gender stereotypes set impossible standards for men and women that lead to unhappiness, loneliness and possibly violence towards themselves. Stereotypes affect relationships between a man and a woman. Moreover, stereotypes dictate the behavior of boys and girls that lead to violence. Rather than combating gender stereotypes, our society reinforcesRead MoreGender Roles And Attitudes Of A Teacher s Practice1189 Words   |  5 Pagespresent essay attempts to demonstrate the stereotypes around gender and and it’s relation to a teacher’s practice. In order for this objective to be met, the theory of gender will be introduced, followed by the stereotypes regarding the gender ‘’roles’’. Moreover the role of culture in the creation of gender roles and how popular culture-media carry stereotypes on children wil l be presented. This aims to show how a teacher can combat or prevent those stereotypes through her thoughtful, careful approachRead MoreReflections On Gender On Science1544 Words   |  7 Pagesrules of arithmetic. We didn t want it to come out that way, but it did. Weinburg explains that science, like arithmetic is ultimately an objective discourse—free from subjectivity and emotion. However, in Evelyn Fox Keller’s novel Reflections on Gender on Science, she argues against science as being an objectivist ideology. She asserts that science does not encompass the complete truth, but is rather a perverted, masculine discourse. Keller critiques Weinburg’s assertions as faulty, where she arguesRead MoreDemographic Forms Customarily Request The Gender Or Sex Of The Individual Completing The Form867 Words   |  4 PagesDemographic forms customarily request the gender or sex of the individual completing the form. Many of these demographic forms use the terms gender and sex interchangeably when referring to the categories of male and female. Michael Kimmel clarifies that â€Å"sex† refers to the biological male and female criteria of chromosomes, chemical organization, and genitalia while â€Å"gender† refers to the differences and expectations associated with each sex (Kimmel, 2013, p. 3). Differential socialization is theRead MoreSocial Construction Of Gender And Masculinity1689 Words   |  7 Pagesattitudes regarding the social construction of gender, specifically masculinity and femininity. Children’s attitudes are influenced by a variety of external sources, but are most strongly influenced by their home life and parents. Parents are responsible for nurturing and teaching children about multiple aspects in life, including gender norms; this occurs both consciously and unconsciously. One-way parents pass on their beliefs about gender and gender norms are through the giving of heteronormative

Things You Wont Like About History Essay Topics and Things You Will

Things You Won't Like About History Essay Topics and Things You Will You receive a preview of your essay and ask to produce corrections if necessary. If you don't learn how to begin your essay or in which to search for supporting info, we'll be thrilled to help you you. If you would like to compose the essay yourself, we believe it would be best to decide on a universal subject or issue. Although writing a history essay can look like a daunting prospect especially if it's the case that you don't feel you're a very good writer, it isn't as bad since most folks would want to imagine. You spend a whole lot of education on writing argumentative essays. In situations when you get to pick the topic for an argumentative essay, you need to be wise and locate a title that will intrigue a reader. You can quite readily become a very good writer when you have the right subjects to work with. If you opt to be an independent essay writer, you can expect the exact same. If you're assigned an essay on something from earlier times and you're permitted to pick your own title, below are some history topics you may want to think of before you commence writing. Thus, our writers are almost always prepared to cooperate together with you throughout the essay writing face. For example, if you ask us to compose a paper on one of many American history essay topics, you can be sure your writing will be consistent with the language style you request. Thus, writing a history paper will surely be fun, if you only opt for a really intriguing history essay topic. Choosing History Essay Topics Select something you're interested in. Write a list of ideas you've got or a list of things you're interested in. The absolute most important thing to keep in mind is you have to select the topic most interesting to you! Keep in mind the big choices you might have remodeled the earlier twelve a very long moment. History Essay Topics - Dead or Alive? Almost everything c an be an issue of History when focused in some specific ways. Advertisement If you would like to experience history, consider staying in historic Kitchener hotels. The conclusion of slavery isn't marked with one specific date, but using a very long procedure and chain of events. History is a subject that's always tightly linked to the idea of time and space. You thought that war may be coming. Among the difficulties with history generally is that folks consider it dull and boring. Maybe you simply do not know the subject well enough, and that's the reason you can't locate the idea for your history essay. Narrowing down a specific era Once you've got a notion of the nation you want to write about, you will then have to select a specific era in that nation's history. There's plenty if useful information regarding the Web. A variety of reasons lead youth from throughout the world to our site. Do not increase your probability of being discontinued from your studies as a result of trusting people who cannot even assist with choosing history essay topics for high school students. Use the aid of true academic experts and receive the service you have earned! The Foolproof History Essay Topics Strategy The Federal Reserve played a huge part in the Great Depression. Social unrest is now a fearful vision. World History Research Papers involve an amazing amount of information. The Importance of History Essay Topics All our writers pass a considerable procedure to look at their abilities. There are lots of selections of topics based on the subject you would decide to compose a paper. In the event you can't find your subject here, don't hesitate to have a talk with our staff and put an order for a customized history essay on your specific subject. The subject for discussion ought to be manageable, i.e. you ought to be in a position to explore the subject in the most detailed way based on the quantity of pages you need to write. What History Essay Topics Is - and What it Is Not Perhaps you still must understand more about the way to compose a history paper. It is an impossible task to write a great history paper if you write about something you find boring and don't care about whatsoever. A superb history paper is inside your reach, hire one of our writers to receive it! Writing a research paper about such a considerable moment in the American history can be quite advantageous there's already plenty of research on the matter.

Development of Corporate Governance-Free-Samples-Myassignment

Question: Outline the development of Corporate Governance from the traditional approach through to the modern approach. Discuss the characteristics and principles of each approach. Answer: Introduction Corporate governance is the process by which corporate organisations are monitored and administered. Corporate governance is needed for the modern organizations to maintain a balance between the organizational goals and the interest of stakeholders of the organization. After globalisation, the work environment of corporations has changed. With the increase in opportunities, the accountability of the corporation has also increased. Large corporate and even small organisations have collapsed due to the lack of proper governance. The factors that are accountable are: the motive of social welfare and their responsibility, delegation, autonomy, authority, power and other disclosure agreements and their legitimacy. The collapse of the corporations like Enron, Lehman Brothers, Robert Maxwell due to fraudulent cases are the most important and noteworthy instances (Agrawal and Cooper 2017). These collapses have shaken the roots of the respected governance bodies. The Regulations and codes of ethics have been redefined after the government has learnt the lesson because of major losses in the economy and job cuts. The scandals have made people aware of the fraudulent ways of the company standards and procedures to be checked (Solomon, 2013). The scandals Enron is a company in Houston founded established by Kenneth Lay and Jeffrey Skilling in the year 1985. It became the largest energy providing organization in USA. Later on the company expanded to Oil and natural gases division, broadband and internet connections, Electricity, water and paper trading (Agrawal and Cooper 2017). This expansion helped the company to diversify in the global international market. After the bankruptcy, the analysis revealed that the company has significant problems regarding the dealings reported on directors. Different questions were raised regarding Enrons managerial problems and corporate ethical approaches they took when they were in active business. It showed several unethical means that was employed by the organisation over the years. In 2001, the company announced a major loss and was coaxed to admit their false account and profitability information of $600 million (Fox et al .2016). The accounting method of Enron was very unethical as they presente d non-transparent financial statements. In accrual accounting method their recorded cost and revenue were also incorrect and misleading. The hidden debt, taking excessive risks, violation in formation of balance sheets, disclosure of minimal details, overstated equity and profits to engage more shareholders were the unethical approaches adopted by the organization. These helped them to hide their losses for a short period but the strategy failed. The proliferation of the company books, checks and balances were detected to be filled with unethical practises and also a major cause of the breakdown in corporations governance (Shrives and Brennan 2015). The trials in court after the companys decline highlighted major issues that were overlooked by the civil lawyers. Excessive use of power by the CEO, private undisclosed partnerships was also the cause of the Enrons fall. The Parmalet Diarys scandal was a result of a failure in the governance and accounting discrepancies in privately owned corporate entity (McAlister et al. 2016). The Italian Food companys governance failed due to the founders unethical practises. He controlled the shareholders and channelled their resources illegally. This was also done at the expense of minority shareholders resources. The monitoring and controlling process failed leading to the Parmalats crisis. The Organizational structure was at fault as both the CEO and the owner held the position of chairperson as per the codes of Parmalat Finanziaria (McAlister et al. 2016). The lack of compliance of the companys independent policy related to the controlling of shareholders interests affected the company. The monitoring structure of the companys governance framework, made the abuse of power and fraudulent activity to rise easily in that situation. A similar case can be discussed form the UK. The infamous case of Robert Maxwell and his media corporation is a perfect example of the failure in governance framework. In order to survive in the sector he adopted fraudulent practises. It was estimated that they stole 727 million Euros from the pension funds of the two public companies as well as the assets from the companies (McAlister et al. 2016). The undivided control in operation in the Maxwell Communication and governance ultimately caused the downfall of the company. The non-executive directors were involved in the function of performing independent function. The auditors were involved in providing non-transparent information of financial activities and practises. The pension fund trustees also failed to observe the money laundering activities of the companies by transferring the money from one unidentified account to another (Eling and Marek 2014). This scandal also helped in raising the issues related to corporate governance ethics and codes. It was also reasoned that leadership of the company was very much incapable of using the stewardship of the company and making it properly function under their guidance (McAlister et al. 2016). During the recession years 2008-2009, Lehman Brothers collapsed because of the reasons aforementioned (Eling and Marek 2014). The unethical business practises of the top executives in the board and auditing firms were the reason of the collapse of the company. The discrepancies in the transaction and imbalance in the balance sheet drew attention of the company. The financial information was not disclosed then. Later on, the corporation got involved in a debt of $ 613 billion where unsecured creditors in different countries owed money from them (Eling and Marek 2014). The traditional approach The corporate governance is a considerably old concept, evolving after the private organisations were established. The firms provided value of control regarding governance and ethics. Most importantly, the problem of monitoring and directing the process is one of the most important parts of governing the organisation (Akinteye et al. 2015). The traditional approach also included the overview of the agency problem; ownership and control of the large publicly held corporation were also questionable. The legislative power of the company was directed by the economic policies set by government (Zalata and Roberts 2016). Traditional approach emphasises on the models that only takes into consideration the exchange and transactions taking place in the market among the investors, customers, suppliers, employees and other groups (Larcker and Tayan 2015.). The two tier models were responsible for the being the foundation of governance structure of companies. It also takes into account the agenc y costs and transactional cost related to the financial structure of the company. It also includes the legal responsibilities of the directors as well as the shareholders legal mechanisms used in business. The corporate laws started to reform after 2004 (Shrives and Brennan 2015). The alternative models were also adopted during this time. There are two types of theoretical framework, one is of broader view and the other is of narrower view. Thus, considering all factors, the models were defined for providing a solution for the companies that wants to enter the industry. The theoretical framework of the governance structure is one of the most important part to be considered. The traditional approach to share ownership and Anglo-American corporate governance goes by the transactional and agency theory of system (Shrives and Brennan 2015). In the modern joint stock market of America, the 910 companies were included. In the perspective of UK, corporate governance was functional and the role of board of directors and owners, chief executives were defined perfectly. The focus was on the activism of the shareholders instruments. The transparency and financial reporting were there but the Financial Reporting Council did not play its part effectively (Zalata and Roberts 2016). The companies that were involved in Financial Crisis were involved in breaking the codes of ethics and illegal activities. Implementation of the European Union Audit Regulations and Directives Section C3 reviewed the changes in information that the companies started to send regarding solvency, liquidity, viability and risk management and investment changes (Akinteye et al. 2015). The scandals related to those data provided in the companys journals were wrong which later stimulated in their downfall. The structure of the corporate governance was also at fault the company. Many companies were characterised as family owned and then different kinds of features were seen in the process. The traditional approach to corporate governance is based on the agency theory, which takes into consideration the factors of financial paradigm and economic factors. The agents that are considered in this supervisions and control structure are stakeholders of the organization (Zalata and Roberts 2016). The principles that are used in this structure are the delegation of the everyday decision making system, related to the shareholders. In this theory, shareholders wealth maximisation was an important motive of building the rules of corporate governance. The managers play with egoism and are known for being short-termism according to this traditional approach that has affected the company (Akinteye et al. 2015). The reduction in shareholders welfare is known as the residual loss in this theory. Transaction cost theory, takes into account the important element of the behavioural theory and its components. The resources of the market that are used to coordinate the transaction among the companies are related costs control theory of transaction. Internalisation of the transaction related activities is of utmost importance in this regard. The bounded rationality is an essential part of this theory (Shrives and Brennan 2015). According to this theory, the managers are individuals who are opportunistic by nature. The modern approach Stakeholders theory was developed considering the individual entities. Incorporation of corporate accountability is one of the most important elements in this concept. The broad research and unified approach of this theory makes it more relevant in the current time. This research takes the best out of the traditional approach of the corporate governance as well as incorporates philosophy, ethics, political theory, economical factors and stakeholders of the organisation (Dimopoulos and Wagner 2016). The commonality acknowledged in this theory is in the exchange relationship among the stakeholders. The stakeholders are shareholders, employees, suppliers, customers, creditors and all the personnel directly or indirectly related to the company. The modern approach of corporate governance is of the following factors. They are supervision, cooperation and information exchange, coordination, decision-making, consulting, supervision. These significant matters are considered in this report. The task in hand is more considered in this process, emphasis is given on the situation of economic, financial, organisational, and market. There is one theory that needs to be taken into consideration in defining the modern approach, the stewardship theory (Larcker and Tayan 2015). The function of this theory is to consider the supervisory board in relation with management. The main factor that is considered in the modern approach is the motivation factor. The agent motivation was purely financial. The behavioural approach was not considered in the old age. This gave an outcome in the governance structure, which was less effective in nature. The stewardship theory talks about the control mechanisms of the individuals in situational factors. The situational factors talks about the trust, employee engagement, collectivism, power distance and collaboration needs of the company (Boreiko and Murgia 2016). This is the main contrast from the agency theory. The governance of the companies is mainly based on the guidelines of Corporate Governance given by the OECD org amended on 2004 (Larcker and Tayan 2015). This organisation dictates the basic rules of the governance structure, accountability limitations. The following is the features, which need to be considered. The key ownership functions, rights and regulations of the companies regarding their shareholders are to be decided first. Treatments should be similar for all shareholders and not based on their ownership of shares Roles are correctly defined by this process Responsibility of the companys body (Dimopoulos and Wagner 2016) The recently added feature of social welfare that is included in the corporate structure depicts that the governance must give emphasis in planning the welfare of the society. The modern approach has different views that are presented to the government. The new recommendations presented have considered different holes that have been identified from the previous mishaps in corporate governance. The Hample report, Cadbury report and Higgs report were presented based on the modernisation of the corporate governance spirit (Boreiko and Murgia 2016). Different factors involved in this new method of calculation of directors remuneration are also given in the approach. Corporate social responsibility, social welfare improvement in pension fund regulations and other rules regarding corporate governance needs to be adopted. Shareholders reports, trustees role, responsibilities, and information that need to be presented in the report and other aspects of the company should be transparent accor ding the new approach. The impact of the new approach helps in combining the codes in UK Companys directors and institutional investors relationship. Pro activism of the shareholding governance is also considered in the matter. Critical discussion in the differences among the approaches used in UK and US corporate governance The separation in the ownership and control was incorporated as an essential policy in the new approach. The companies, which was in major need of improvement learnt from the scandals that plagued the noted companies as discussed above. This also affected the economy of those countries immensely. The scandals also involved major theft in some cases. Different reports on the failure issues were presented in the federal government of USA, they presented the Sarbanes-Oxley Act 2002 in USA after the report was submitted, Higgs report in January 2001, and Smiths Report was presented in UK around that time (Al-Najjar and Abed 2014). Lack of solid foundations in UK government officials lead the investors to believe that they can earn huge profits and this helped them earning profit after investing in technological stocks. This was a good incident that happened in the late 1990s (Akinteye et al. 2015). The unlimited liability of the investors implied that the policies were not effective regarding investments. The Limited Liability act 1855 helped the company to rip off all the shareholders to earn profits that was due for the shareholders(Al-Najjar and Abed 2014). There have been significant influences of the collapse of Giant Corporation like Enron and WorldCom, which made it necessary to redefine the possible changes in the governance structures. The Hampel Report 1998 presented in the Britain is a successor of the Cadbury report. The report is based on the regulation of directors remunerations. This also summarizes the best practises of the UK companies. The UK companies defined separate rules in their report of governance. The common rules for directors fiduciary duties, Companies act and documents 1985 and listing rules in UK are different than the US regulations, that includes the SOX act 2002 (Honor et al. 2015). The Sarbanes-Oxley Act 2002 is detailed regulation listed for the companies in US and is very different from the rules of comply and explain in UK (Al-Najjar and Abed 2014). The US regulations depend on the fines, penalties and imprisonment for violating the requirements of SOX act. The securities act 2004 consists of audit, in vestigations and community requirements of the companies in UK (Armstrong et al. 2015). The committee has greater power in this regard. However, the establishments of the PCAOB (Public Company Accounting Oversight Board) have the ultimate power regarding all the auditors and US security law (Bushee et al. 2013) in the country. The provisions stated in the states regulation in SOX, that there must be mandatory rotations in the audit partners but the restrictions in non-audit services. The external auditors can provide only the non-audit services. However, in US the auditors or the audit partners of the company can provide the audit and non-audit services (Bain and Band 2016). The CEO and CFOs of the company must regularly certify the reports to help the company mitigate the penalties of false credit citations or engaging in criminal activities (Zalata and Robert 2016). However, in UK the directors report must contain the statement of the directors regarding relevancy of the audit inf ormation or false information given in the report. It is criminal offense for the company to make a false statement. The US legislations contain the prohibition act effective on insider trading during the pension fund scandal that happened in the country. The board does not specify it but the companies must go by the pension part 5 of the criminal justice act 1993 or Market Abuse Regime (Elmagrhi et al. 2017). However, the rules of management report and internal audit attested that the management report given in US SOC and SEC and adoption of codes of ethics is essential but it does not have any equivalent rules in UK regulations. In UK, it is expected that the companies will maintain the minimum ethics as a matter of fact (Carberry et al. 2017). Issues in the approaches as well as the benefits For a company it is essential to incorporate corporate governance in the operations of the business. Both of the discussed regulations, SOX in US and Smith, Higgs, Cadbury, Greenburg report in UK and other reports has very important part in the corporate governance (Tricker and Tricker, 2015). The separation in the roles of CEO, CFO, chairman and board of directors have provided the companies with an advantage of taking different perspectives and thus form different viewpoints. The codes of corporate governance and ethics in other companies are strictly maintained after the scandals of the companies discussed above. The main issue in modern approach of corporate governance is, it does not identify consistency and significance in the relationships between performance of the firm and executives remuneration (Elmagrhi et al. 2017). The monitoring and the evaluation system is also given lesser emphasis in the acts that needs to be implemented. The Cadbury Act in UK does not consider the accounting standard changes that are modified after the commencements of the report (Denis 2016). The share repurchase from the shareholders are also an issue in corporate governance approach, which should be considered. These issues have been highlighted in this framework. Conclusion The constant update of the corporate governance ethics and codes of practice along methodical review of corporate governance structures are necessary to avoid downfall of companies like Enron in the future. The concept of corporate governance deals with the changes in the approach of the top level management along with the effective implementation of human resource in the company. The approach to use the penalties, fines and restrictions in case of illegal activities and breach of any contract is effective. The use of rational external auditing partners and the tight control in the internal audit members in both the countries, especially the US regulations are very essential and effective. This provides the company to safeguard the information as well as provide a transparent report. References Agrawal, A. and Cooper, T., 2017. Corporate governance consequences of accounting scandals: Evidence from top management, CFO and auditor turnover.Quarterly Journal of Finance,7(01), p.1650014. Aguilera, R.V., Desender, K., Bednar, M.K. and Lee, J.H., 2015. Connecting the dots: Bringing external corporate governance into the corporate governance puzzle.Academy of Management Annals,9(1), pp.483-573. Akinteye, S.A., York, D.O. and Quat-Ullah, H., 2015. Corporate Governance Mechanism: An Investigation of the Internal Audit Function Quality in Nigerian Listed Firms.International Journal of Business and Social Science,6(1). Al-Najjar, B. and Abed, S., 2014. 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