Statement by PricewaterhouseCoopers (2008)

In view of the current economic downturn, corporate governance, and the reporting of that governance, may become a more pressing issue for listed companies; particularly insofar as it relates to going concern reporting, risk management, internal controls, board balance and directors remuneration.

ICSA, The Chartered Governance Institute, believes that good governance is important as it provides the infrastructure to improve the quality of the decisions made by those who manage businesses. Good quality, ethical decision-making builds sustainable businesses and enables them to create long-term value more effectively

Corporate governance has been highlighted as an important factor in alleviating or reducing the risk of corporate failure. Evaluate which aspects of corporate governance are likely to guard or protect against corporate failure.