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Regulatory frameworks - Coggle Diagram

- - - - The US adopts a very approach to governance as part of the Sarbanes Oxley regulations: the 'comply and sign' approach.
      - A comply and sign approach is more prescriptive. Organisations must comply to the letter of the rule, with no exceptions.
      - Accountable individuals (usually the board of directors) are required to personally sign off the effectiveness of an organisation's governance arrangements.
      - If the organisation is then found to not have effective governance they can face fines or even imprisonment
      - The 'comply and sign' approach ensure maximum compliance. But it is much less flexible than a 'comply or explain' approach.
- - - - Shareholder rights and the fair treatment of shareholders
      - The board of directors
      - The role of the company secretary
      - Incentive arrangements
      - Risk management and internal controls
      - The disclosure of information