Corporate Governance, Financial Accounting Information and Control Mechanisms: A Way to Combat Corruption

Abstract

Purpose: Corporate governance has recently attained huge attention in corporate law and is considered an antidote to combat corporate corruption. The study aims to examine the relationship between; accounting information, corporate control mechanisms and corruption.
 Design/Methodology/Approach: It conducts a critical evaluation of the relevant literature that interrogates the contribution of good corporate governance of the financial accounting information as the use of externally reported financial accounting data in both direct and indirect ways.
 Findings: Results suggest that corporate control mechanisms are the most effective tools for reducing corruption from the supply side. These mechanisms are essential for improving the operation of securities markets, which in the uncertain environment of this era seek accurate and reliable information based on transparent financial statements.
 Implications/Originality/Value: This study will help to understand the significance of implementing corporate governance regulation, corporate control mechanisms and accounting information that can help eradicate corporate corruption. The use of transparent financial accounting information in corporate control systems improves the governance process efficacy, avoiding corporate corruption. It will suggest that corporate governance and control procedures can curb the offence of bribery and fraud by acting as a deterrent to corruption.

Analytical Study of Financial Accounting and Management Trends Based on the Internet Era

“…Financial accounting plays a pivotal role in enterprise management and can provide useful information to decision-makers through various accounting procedures, actively participate in the management decisions of the enterprise, improve the efficiency of production and operation activities of the enterprise, and promote the healthy and normal development of the market economy. Therefore, financial accounting is crucial and indispensable in the course of the development of enterprises [ 16 ].…”

Corporate Social Responsibility: A Commercial Law Perspective

“…Realize equality, the final requirement of the constitution, Article 38, requires that the government of Pakistan be responsible for the welfare of all of its people, irrespective of gender, caste, creed, or ethnicity. The protection of the children's rights and women's rights, which are disproportionately susceptible to manipulation at the workplace, is a fundamental component of CSR, reflected in these constitutional provisions (Ali & Khan, 2022). They are restricted in that they ban employers from acting in specific ways rather than pushing firms to promote welfare by actively investing in their business areas.…”

Explicating the contextuality of corporate governance through ownership structure and family management: evidence from an emerging economy

“…The corporate governance literature contends that founding families, business groups and networks possess substantial equity ownership in emerging economies such as Pakistan (Ali and Khan, 2022; Fariha et al , 2021). This aspect adds a new dimension to principal–principal conflicts, and surprisingly, it is a relatively underexplored phenomenon in agency-grounded research.…”