Corporate governance - an obligation or an option?

Author:PhD. Alexandra LAZÄ‚R



Keywords:governance code, the general meeting, shareholders rights, stakeholders, transparency, responsibility

In accordance with the Accounting regulations conform with the Forth Directive 78/660/EEC, companies whose securities are admitted to trading on a regulated market should disclose information about the corporate governance practices. This information is included in the administrators’ report, as a distinct section of that report.\r\n\r\nThe information needed to be presented is based on the corporate governance code to which the company is subject, and/or the corporate governance code which the company may have voluntarily decided to apply. \r\n\r\nThese requirements are mandatory for listed companies, but the other entities can establish such principles.\r\n\r\nIn this view, the company can base on the OECD Principles of corporate governance or the Guidance on good practices in corporate governance disclosure, issued by United Nations Conference on Trade and Development. It must observe, also, the provisions of the Company law no. 31/1990, republished, with subsequent amendments.\r\n