Principles and Recommendations Proposed in a new Code of Corporate Governance

Author:Bill BOWMAN, AmCham Romania

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Keywords:accountability, Audit Committee, Board of Directors, independence, responsibility, transparency, Supervisory Board

Abstract:
The article highlights the special importance that companies should give to addressing corporate governance principles and good practices and the interest of promoting them in our country, based on the general premise that in market economies companies should strive to achieve long term viability while optimising returns for shareholders over time.\r\nCompanies pursue a variety of roles and objectives in the social environment in which they are active. The social dimension consists of gaining increasing attention from companies, investors and public opinion. Diversity is a fact that must be duly recognised, even when it complicates matters. Nevertheless, there is a number of underlying general corporate governance principles that apply - or should apply - to all companies, such as integrity, transparency in decision making, proper supervision. These requirements were included in the Code of Corporate Governance recently prepared by the American Chamber of Commerce in Romania, which establishes a set of principles and recommendations for joint-stock companies registered in Romania and for all the members of AmCham Romania.\r\n\r\n

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