Codes of Corporate Governance

Running head : CODES OF CORPORATE GOVERNANCE

Comparative Analysis of Codes of Corporate Governance Implementation in the United Kingdom and South Korea

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Abstract

The principal objective of this essay is to provide a comparative analysis of the application of codes of corporate governance in the United Kingdom (UK ) and South Korea , with particular emphasis to the code of board balance and independence and the code of audit committee and auditors . The essay undertakes a comprehensive assessment of the compliance and limitations of the application of these particular codes

br of corporate governance in the UK and South Korea and how the codes impact on companies and investor confidence in these two countries .Introduction

Codes of corporate governance refers to the set regulations which guide the performance of all activities that board of directors undertake on behalf of a company with a view of ensuring beneficial actions geared towards safeguarding the interests of stakeholders of the company in terms of providing direction , exercising authority and implementing oversight over the management (Sobel , 2005 . Codes of corporate governance provide local and international investors with the opportunity to derive important judgements about the commitment of companies and corporations in advancing the interests of shareholders (Shabbir Padgett , 2005 . The codes of corporate governance evidently impact on the performance of complying companies by regulating management and financial reporting activities of companies but also build investor confidence in the particular companies by providing accounting-based performance of the companies (Aguilera , 2005

The continued significance of sound management policies...