Corporate Governance

Current State, Challenges and Way-Forward

In today’s global environment, all businesses are exposed to immense risks. In general, profit maximization is a major task of most corporations, in the eyes of the stakeholders. In such a scenario the role of corporate governance is essential in providing an appropriate level of control. Corporate boards are entrusted with a very difficult task to perform. The increasing pressure has led boards to gauge their performance and see how they can act as a value adding contributor to the success of the company.

To highlight the current state of Corporate Governance in Pakistan and to suggest a way forward in the country’s present scenario, Mr. Asad Ali Shah presented a paper on the topic Corporate Governance-Current State, Challenges and Way-Forward in a seminar organized by The Institute of Chartered Accountants of Pakistan.

The presentation walks through the changes brought about in the revised Code of Corporate Governance 2012 and also hints at the weakness in the enforcement of the code and suggests an approach to governance beyond compliance.