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8) Discuss the Wates principles for improving corporate governance standards for private companies. (250 words)

Topic– corporate governance.

8) Discuss the Wates principles for improving corporate governance standards for private companies. (250 words)

Reference

Reference

Directive word

Discuss- this is an all-encompassing directive which mandates us to write in detail about the key demand of the question. we also have to discuss about the related and important aspects of the question in order to bring out a complete picture of the issue in hand.

Key demand of the question.

The question wants us to write in detail about the Wates principles which are aimed at improving corporate governance standards for private companies.

Structure of the answer

Introduction– write a few introductory lines about the  Wates principles. E.g these are the principles forwarded by the Financial Reporting Council (FRC) of the UK and are a significant step in the direction to address the perceived issue of corporate governance standards in large private companies etc.

Body-

Discuss in points the Wates principles. E.g The code creates an obligation to report to society as a whole as the price they pay for the use of societal capital and the privilege of limited liability”

  • Principle one: Purpose
  • Principle two: Composition
  • Principle three: Responsibilities
  • Principle four: Opportunity and risk
  • Principle five: Remuneration
  • Principle six: Stakeholders

Conclusion– based on your discussion, form a fair and a balanced conclusion on the given issue.

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