Glasgow, United Kingdom

Corporate Governance and Accountability

Master's
Language: EnglishStudies in English
Subject area: economy and administration
Qualification: MSc
Kind of studies: full-time studies
Master of Science (MSc)
University website: www.gla.ac.uk
Accountability
In ethics and governance, accountability is answerability, blameworthiness, liability, and the expectation of account-giving. As an aspect of governance, it has been central to discussions related to problems in the public sector, nonprofit and private (corporate) and individual contexts. In leadership roles, accountability is the acknowledgment and assumption of responsibility for actions, products, decisions, and policies including the administration, governance, and implementation within the scope of the role or employment position and encompassing the obligation to report, explain and be answerable for resulting consequences.
Corporate Governance
Corporate governance is the mechanisms, processes and relations by which corporations are controlled and directed. Governance structures and principles identify the distribution of rights and responsibilities among different participants in the corporation (such as the board of directors, managers, shareholders, creditors, auditors, regulators, and other stakeholders) and includes the rules and procedures for making decisions in corporate affairs. Corporate governance includes the processes through which corporations' objectives are set and pursued in the context of the social, regulatory and market environment. Governance mechanisms include monitoring the actions, policies, practices, and decisions of corporations, their agents, and affected stakeholders. Corporate governance practices are affected by attempts to align the interests of stakeholders. Interest in the corporate governance practices of modern corporations, particularly in relation to accountability, increased following the high-profile collapses of a number of large corporations during 2001–2002, most of which involved accounting fraud; and then again after the recent financial crisis in 2008.
Governance
Governance is all of the processes of governing, whether undertaken by a government, a market or a network, over a social system (family, tribe, formal or informal organization, a territory or across territories) and whether through the laws, norms, power or language of an organized society. It relates to "the processes of interaction and decision-making among the actors involved in a collective problem that lead to the creation, reinforcement, or reproduction of social norms and institutions." In lay terms, it could be described as the political processes that exist in between formal institutions.
Accountability
Moral conduct includes every thing in which men are active and for which they are accountable. They are active in their desires, their affections, their designs, their intentions, and in every thing they say and do of choice; and for all these things they are accountable to God.
Nathaniel Emmons, reported in Josiah Hotchkiss Gilbert, Dictionary of Burning Words of Brilliant Writers (1895), p. 1.
Accountability
Think of three Things, whence you came, where you are going, and to whom you must account.
Benjamin Franklin, Poor Richard's Almanack (1755), based on Pirkei Avot, 3:1.
Accountability
When illusions are over, when the distractions of sense, the vagaries of fancy, and the tumults of passion have dissolved even before the body is cold, which once they so thronged and agitated, the soul merges into intellect, intellect into conscience, conscience into the unbroken, awful solitude of its own personal accountability; and though the inhabitants of the universe were within the spirit's ken, this personal accountability is as strictly alone and unshared, as if no being were throughout immensity but the spirit and its God.
Henry Giles, reported in Josiah Hotchkiss Gilbert, Dictionary of Burning Words of Brilliant Writers (1895), p. 2.
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