bdo benchmarking task essay
When deemed in general terms Turnbull described it as: “All impact on affecting the institution processes, including those for appointing the controllers and/or government bodies involved in organising the production and sale of very good and services¦.. it includes all kinds of firms whether or not they are incorporated under city law. (Turnbull, 2002: 181) Factoring in all other explanations, in its simplest terms it is usually defined as the “exercise of power more than corporate entities (Clarke, 2004).
It is not just like the management as well as the running with the company, it is concerned with how the Board of Directors, whom are the governing body of the company, regulate management, since it is they who also are responsible pertaining to holding the management of the company liable and making sure the company is being ran in many ways which is good towards the investors and other stakeholders.
It is the Directors’ responsibility to formulate strategy and policies pertaining to the ompany and to identify the course the supervision should take the organization in and the Directors have overall responsibility for the performance with the company (Tricker, 2012).
While the phrase ‘corporate governance’ wasn’t gave until the 1960’s and not widely used until the 1980’s, it has genuinely been in a gradual procedure for evolution considering that the 16th century and partnership trading. One of the major developments in world economies which brought the advantages of corporate governance to the conscience was the advantages of limited liability businesses in the nineteenth century.
What this meant was the moment companies were incorporated that they became a different legal enterprise, separate using their shareholders and with comparable legal rights to get, sell and transfer stocks and resources, to employ persons and to prosecute and be sued in the name of the company. This intended the liability for just about any company financial obligations lay together with the shareholders rather than the administration or the organization. Add to this the fact that due to introduction in the stock market, stocks could be easily bought and sold, that means the shareholders could be great in amounts and have a huge geographical pass on.
Due to the fact that almost all corporate entitites need to governed, the ramifications of this had been that the supervision (executive control) and the shareholders (owners) were often segregated (Tricker, 2012). Situations honestly, are wherever corporate governance is deemed to be most necessary because there is a root supposition, that users of administration who do not own the firm are likely to be even more reckless with someone else’s money, i. at the. the company’s, than they would be with their own funds (Having Their very own Cake, 2013). This is known as the agency problem, which will be broadened upon afterwards.
Electing a Board of Directors with the interest in the shareholders in the forefront of their mind, allows members to indirectly oversee the actions undertaken by management, in order to ensure that while agents from the shareholders, the management is definitely performing based on the best hobbies of the organization (Lashgari, 2004). 1 . installment payments on your Selection of a Case Company However , as Turnbull pointed out in ‘Corporate Governance: Its scope, concerns and theories’ (2002), having a limitation of simply publicly traded businesses in research of company governance, restrictions the quality of any onclusions drawn about the most efficient agreements for corporate institutions regarding good governance practices plus the effect they have on a company’s performance. Since Jensen stated in 93: “Privately held entities can provide the many form of business. (Jensen, 1993, offered in Turnbull, 2002). It absolutely was with this in mind i chose BDO LLP UK (BDO), which is an designed partnership company in the UK, which can be owned and ran by its members/partners. It is a company which offers economic accounting, review, tax and business agency services (BDO LLP UK website, 2013).. 3. Regarding the UK Economic Accounting and Audit Sector With the ever increasing focus on company governance for companies around the world, not just in the united kingdom, audit companies such as BDO, KPMG and Deloitte are becoming more important since it is there task to ensure that companies are adhering to restrictions laid out in the united kingdom Corporate Governance Code (2010, revised in 2012). It may naturally follow that taxation companies may have extremely good business governance methods put in place, however , this is not always the case.
As 2000 there have been a number of high profile scandals within the International Business Financial Accounting industry, for example , Enron were found to get inflating revenues and concealing debts and there was also the Bernard Madoff “Ponzi Scheme, the place that the real scandal was that the robbing of millions of pounds worth of people’s funds, escaped the attention of auditors and regulators. ). Due to such scams, many nationwide regulators executed new company governance requirements to improve specifications (Mitchell Truck der Zahn, 2009).
In the UK new regulations with regards specifically to audit businesses were also presented, targeted straight at some group of businesses. As of First month of the year 2010, 95% of the auditing operate the UK had been carried out by eight firms, BDO being one. It was deemed that this sort of companies got built after their popularity to gain prominence in the UK marketplace and the Financial Reporting Council (FRC) experienced it was in the Public’s fascination for these companies to be transparent and in order to keep public trust be exemplars of ideal corporate governance practice.
This kind of led to the introduction of the Taxation Firm Governance Code (2010) by the Start of Chartered Accountants in britain and Wales (ICAEW), which drew by aspects of the 2010 UK Code and established principles such as the scheduled appointment of 3rd party non-executives in the governance structure of their business. While these kinds of rules did not apply beyond the targeted companies, it had been the hope of the ICAEW that it gives a benchmark of good governance for other companies to follow (ICAEW website, 2013). With this sort of a striking statement being created about the value of corporate and business governance from this field of work, it seemed to me to become an obvious decision to choose one of many 8 businesses on the ICAEW’s list intended for my case-study. 1 . four. About BDO LLP UK As thorough earlier BDO LLP UK is a great incorporated collaboration company in the united kingdom, which is owned or operated and ran by their members/partners also it gives financial accounting, audit, tax and organization consultancy providers.
It is the 6th largest accountancy firm in the UK and is an associate of the BDO International Network, which alone is the fifth largest accounting organisation in the World. In an attempt to enter the top 5 big businesses in the UK, BDO LLP UK completed a merger with PKF, a rival organization, in April 2013 (Keynote, 2013). Following researching BDO LLP UK, it became clear that corporate governance was of the most importance towards the company.
Not only did it possess specific areas on their website committed to corporate governance and corporate interpersonal responsibility it also had a number of relevant publications regarding business governance. 1 article for instance , ‘Making Internal Audit Relevant’, discussed the high quality of corporate governance in britain found by studies completed by the FRC, it went on to say that the was underpinned by the UK Corporate Governance Code and this it was vital in maintaining the attractiveness from the UK market, to inspire new expenditure (BDO LLP UK site, 2013).
My own research also found that BDO had performed a joint study with all the Quoted Firms Alliance, which considered the introduction of a mandatory corporate governance code for small and mid-capital audit firms in the UK. Just like a point of fact, it was a proposition that 92% of this sort of companies agreed with. One of the main indications that BDO think corporate governance is vital for the success of a company is that they produce a transparency survey, which has an appendix of the statement of compliance together with the Audit Organization Governance Code (2010).
They have also attended great lengths to create a summary report news for businesses that they audit, detail any changes to corporate governance regulations and focusing on command and effectiveness, reporting, risk, audit, remuneration and investor relations (Corporate Governance to get TMT Businesses, 2012). It seems like to be a fascinating idea to think about a company whom places a lot emphasis on very good corporate governance, not only for itself but also the companies it works for, to see if they actually comply entirely with the unique codes and if they are in fact “exemplars of good practice.. Theories of Corporate Governance There are various hypotheses and sagesse with regards to business governance, all of these, as a ordinaire, have put a basis for the introduction of different business governance systems around the world (Lashgari, 2004). This kind of paper will appear at a number of these theories and how they connect with BDO, to achieve a better understanding of the governance standards at BDO. installment payments on your 1 . Organization Theory
Inside the 1930’s, Berle and Means published ‘The Modern Corporation and Private Property’, it supplied the initial debate about the organization dilemma and place a basis for organization theory. That they suggested that where ownership is segregated from management or is definitely widely spread, it becomes tough for keepers to have an effective check on the autonomy of corporate managers. The organization dilemma was further enhanced in the 1970’s, when hypotheses were delivered to the fore suggesting brokers (managers) are usually self-interested and may serve their particular interest just before those of the principle (owners).
Such ideas also advised that in order to counter this matter companies need to incur organization costs, for instance , to create offers to align the eye of the agent with the firm and the cost of monitoring the conduct of agents. Many other theorists have trouble with agency theory because it will not even attempt to explore the possibility managers are not self-interested and opportunistic. Yet , they cannot refuse that it features een very influential in developing market-based governance components and board-based governance systems. Due to BDO being an designed partnership and their shares if she is not publicly traded, all of us will only consider the board-based mechanisms (Having Their Cake, 2013). Agency theory has caused internal change of planks, there has been a rise in executive talk about options schemes, meaning that managers are offered equity in the company they are going to manage, to be able to “align their very own interest (Having Their Dessert, 2013).
Company theory has also led to the introduction of independent nonexecutive directors onto Boards of Directors, to be able to ensure the actions of the management happen to be being completely monitored by the board themselves and position of planks have been tremendously elaborated, they may be becoming more associated with the setting of aims of corporations and monitoring of virtually any actions used by management and stricter provisions have been set up to ensure the parting of the roles of chairmen and chief executive (Cadbury Committee, 1999).
The moment applying agency theory to BDO, you can actually see that there exists a situation of agency and principle, together with the fact that there are 193 companions in the company and only 5 partners whom are portion of the Leadership Group (LT- management) which is accountable for the overall supervision of the business and is chaired by the Handling Partner. It is additionally noticeable from other 2012 ‘Transparency Report’ that members in the LT have been completely partners in the company for a number of years, with currently the shortest term being more than a decade.
This could be considered good governance by BDO because so that you can avoid the agency dilemma, that they ensure their very own management crew is made up of lovers, whose interest is already aligned with the interests of the business. The transparency report likewise states that BDO possess a Partner Council (equivalent into a Board of Directors) which is independent from the LT and responsible for the complete governance, specifically the oversight and accountability of the LT. They are also responsible for choosing people of the LUXURY TOURING and for choosing independent nonexecutive directors, that there are 2 at BDO.
These independent nonexecutive owners sit on the LT and report to the partner authorities of virtually any issues of compliance with governance, guidelines and types of procedures, for which they are responsible for offering information on to the LT. The Partner Council is chaired by the Older Partner who have performs a client facing role and is accountable for managing all decisions. He also attends LT conferences in a nonexecutive capacity to assist in his oversight role from the governance from the company (Transparency Report, 2012).
As we can see the supervision team is subject to a lot of oversight and monitoring by the Partner Council plus the roles in the Senior Partner and Handling Partner will be completely separate, this is every a way of guaranteeing the company provides a high common of governance and to as well ensure the management is acting in the best interest of the all of the owners. BDO goes to a big effort in organising their very own governance framework in order to avoid the problems arising from the agency issue. 2 . 2 . Resource Dependence Theory
This kind of theory originated from studies performed by Pfeffer and Salancik (1978), they suggest that plank members and nonexecutive company directors can provide a strong with a essential set of assets. Non-executive owners are appointed with the expectation that they will support the business with its concerns and to be considered a source of expertise which professionals can bring up for expertise and suggestions and they can even be a source of contacts and information that they can have gained through their very own past knowledge (Having Their very own Cake, 2013).
At distinct stages inside the life-cycle of companies, they have very different needs from their non-executive directors. To young entrepreneurial companies, nonexecutive directors can be a cheap way to obtain legal, economical or operation management expertise, while widely listed companies are in need of network connections such directors can offer, for example , causes of finance.
They will also provide the main advantage of attaching favorable comments to their firm. Mature businesses, with which we could most concerned because BDO falls in that category, can use nonexecutive directors for their relevant market or bureaucratic experience and from the customer confidence which is often gained as a result person’s good reputation being affiliated to their company (Having Their Dessert, 2013).
Making use of this theory to the impartial nonexecutive administrators of BDO, we can clearly see through the Transparency Record (2012) that both have connection with past nonexecutive director tasks and equally bring their particular experience in a relevant discipline, Lesley MacDonagh with a dangerous of connection with law and business management which the lady gained from being a Controlling Partner at Law firm Lovells and God David Currie having connection with business supervision from eing a Dean of Cass Business School and a past Chief of OFCOM and this individual also has sound knowledge of the legal program from becoming a member of your house of Lords. This places all of them perfectly for their positions of overseeing the governance of and organization management of BDO. installment payments on your 3. Stewardship Theory This theory, which usually originated from the works of Donaldson (1990), suggests that owners can include motives that are ‘pro-organizational’ and counters the assumption by simply agency theorists that administration aims happen to be based in self-interest and are certainly not aligned with those of the shareholders.
Donaldson even will go as far as to suggest that bad investor assumptions of the managing will have the other effect as to the was meant and can truly weaken the leadership of any company by simply weakening the management’s power when splitting the decision producing power between your board plus the management.
Donaldson also put forward the theory that inside managers and administrators have probably spent their very own lives earning a living for the company they govern also because of this not only have a solid understanding of how a company can be ran, consequently are able to make superior decisions, but as well they will possess naturally developed a strong holding and personal purchase in the success of the business.
He also points out that decisions created by a panel of outsiders could be of a lower quality because they might not able to to fully be familiar with company since they would not need the same relaxed knowledge sources and might lack any information which could let them know of the in-text nature of any business situations. All of this in turn could lead to low organization performance (Nicholson and Kiel, 2007). As was previously stated, BDO provides a LT which can be made up of partners who have been working for the company within a particular discipline and have been somebody for a number of years.
The field they can be responsible for as part of the LT is pertinent to the discipline they have been previously working in, for example the Head of Audit and Tax, Paul Eagland has become a Tax Partner for 18 years. This ensures that virtually any decisions that are to be made will be informed while using necessary knowledge to make the correct decision intended for the company. As well, as has become stated previously working for the organization has very long has built a solid affiliation for the company and its success.
Based on the non-executive director element of the board, it is made up of both independent people who come from outside the business (such as i have said previously) and Directors including the Senior Spouse who has been with the organization for a number of years, this permits for any spaces in the familiarity with the owners to be protected because there is an overlap between your meetings in the LT and the Partner Authorities when the Older Partner rests in upon LT conferences as a great affiliated non-executive director.
This kind of ensures that the company is rehearsing good governance and that the plank cannot be misinformed by the supervision as to the way the company will be ran of course, if the passions of the other Associates are being looked after (Transparency Report, 2012). 2 . some. Stakeholder Theory Freeman (1980’s) put forward a complete new thought in terms of corporate and business governance hypotheses, he asserted that it must not simply be just the shareholders’ or perhaps partners’ pursuits which should be considered when making business decisions, this individual suggested that companies should be ran with the interests coming from all stakeholders in mind.
Other stakeholders include staff, who have invested their time and skills inside the company and possess an used interest in you’re able to send success, to make certain that they ensure job security. This kind of, Freeman classes as a direct interest in the success of the company, different direct stakeholders include customers and suppliers. What Freeman classed since having a great indirect involvement in the functionality of the firm includes the community as a whole and the environment (Having Their Cake, 2013).
We have a major problem with this theory, which is that it is hard to operationalize because it is difficult to make a decision the excess weight that should be provided to different stakeholders but accepting this problems, some theorists have recommended that while eventually they are responsible to the shareholders, they must consider the interests of other stakeholders when making decisions.
This demand for ‘stakeholder value’ is legitimised through a range of examples, take globalisation; the spread of business and corporations around the world has led to environmental damage, a rise in corporate file corruption error and abnormal executive pay has been, for example with RBS, to come hand-in-hand with company downsizing which has a direct impact on workers.
In the name of good corporate governance, the increase in the value of stakeholder interests has led to an increase in business ethic codes and heightened corporate and business practice presence and corporate reports of cultural responsibility and environmental things (Having Their very own Cake, 2013). According to BDO’s web page and their Openness Report (2012), the company usually takes the pursuits of various stakeholders into account when creating decisions about how the business is run, in many different ways, through policies and procedures: 5. Ethical Requirements
The company provides a Professional Services Manual and an Examine Manual, that contain rules concerning ethical carry out of staff, management and Partners. It can be easily accessible within the company intranet and is supplemented with training and is built to comply with Intercontinental and UK Ethics Criteria. The Companions and personnel sign total annual declarations as to their conformity to the code and the company has an Integrity Partner who will be tasked with providing advice as to correct ethics and also with preserving compliance. * Client Human relationships
BDO offers 5 core values which will all lovers and personnel are dedicated to, they are; trustworthiness and ethics, taking personal responsibility, common support and strong and private client associations. To aid in these values and help produce quality in order to clients, the company has strong client and engagement types of procedures. They accomplish risk assessments on every potential client, contracts a contract and this helps to ensure that not merely is the firm secure but also that they provide the client together with the sufficient regular and amount of staff they are needing.
The HOURS department also offers clear policies and techniques when it comes to recruitment in schooling, to ensure the business has a sufficient number of staff who will be competent and meet the required ethical criteria, all in the name of providing a quality service to clients. * Staff Relationships BDO have an comprehensive culture with regards to recruitment and training and development, it offers every employee with the same opportunities to progress regardless of distinctions. They have strong policies and procedures regarding regular evaluations, which are performed bi-annually.
They also seek to take up the most relevant recruitment assortment tools, in order to ensure the fit and quality of those becoming a member of the company. In addition they provide employees with ‘learning maps’ and ‘career and gratification wheels’, which in turn helps with profession development and ensures special offers only occur when the staff member is ready. This most aids in the achievements of the company. 5. Corporate Interpersonal Responsibility BDO actively support and develop the local community, they have a well established network of over 20 champions in the UK, requested with “stimulating local suggestions and initiatives to help developing the community.
They have a Community Volunteering Policy, allowing for employees for taking 6 times a year to volunteer, and they are not limited to volunteer by certain organisations. It can be whatsoever is important to them. BDO ensure the negative effect their organization has on the environment is reduced and have an Environmental Policy which can be seen at the stick to address: http://www. bdo. uk. com/about-us/corporate-social-responsibility/environment. Taking into consideration this, it can be said that with regards to ‘stakeholder value’ BDO procedures good corporate and business governance.. BDO Governance in Practice 3. 1 . Transparency Statement Due to the EU’s 8th Enquête on transparency reporting getting adopted, in April 08 the Professional Oversight Plank published the Statutory Auditors (Transparency) Instrument (2008), necessitating auditors of companies with a public interest to publish gross annual transparency reports. It also comprehensive requirements that such information must satisfy, including devices of quality control, self-reliance practices and procedures and information about the firm, i. electronic. he framework and the administration. The BDO Transparency Survey (2012) is available at: http://static. bdo. uk. com/assets/documents/2012/09/Transparency_Report_for_the_52_weeks_ended_29_June_2012. pdf file. Transparency reports are used to show the quality of review processes and practices of your company and are generally used to inspire a high level of confidence and trust via stakeholders as well as the business community. BDO as well provided a statement of conformity with the Review Firm Governance Code (2010), which can be observed in Appendix A.
The openness includes details of the Governance Structure with the UK Organization, including the management and implementation of independent non-executive owners, the principles of the business, the Internal Quality Control Program, the Risk Administration Control Program and details the policies and types of procedures regarding freedom, whistleblowing, professional development and partner remuneration. 3. installment payments on your Statement of Compliance while using Audit Organization Governance Code One of the most important aspects of the Transparency Record is the Affirmation of Complying with the Review Firm Governance Code.
A number of the key areas of which include conformity with: * the owner answerability principle- the Partnership Authorities reviews decisions made by the Leadership Crew, the supervision * the management principle- strategic and operational command is furnished by the LT * the professionalism principle- the whole firm is focused on quality job and professional judgement and values. The firm’s administration and the Head of Risk and Quality reinforce the right ‘tone on the top’, instilling professional and ethical values in the company.
BDO staff are expected to comply with an internal code of conduct 2. the Engagement of independent non-executives principle- BDO designated Independent Non-Executives in Come july 1st 2008, abide by the same freedom requirements since our companions and personnel and they have sufficient knowledge and knowledge to command the value of the lovers * the Compliance Principle- BDO include policies and procedures to ensure they conform to professional criteria and relevant legal and regulatory requirements * the whistleblowing policy- all actions arising away of happenings of whistleblowing, are reported to the Head of Risk and Top quality who will call and make an annual statement the Internal Reporting Principle- LT, Partnership Council, Audit Committee and Risk Committee come with information punctually and in a form and of a quality which enables them to discharge their very own duties * the Financial Statements Principle- BDO post annual audited financial statements in accordance with UK GAAP Whilst BDO provide a very clear statement about how compliant they are according to the Audit Firm Governance Code, we must consider the FRC’s ‘BDO LLP- Taxation Quality Inspection, 2013’ which will considered the corporate governance compliance of BDO in order to get a real understanding of their standard of corporate governance compliance. three or more. 3. FRC Annual Overview of BDO
The FRC identified that generally in most areas there were appropriate plans and procedures in place for its size and client base and so they found that all the transactions that were manufactured in the Visibility Report had been consistent with all their understanding of BDO’s policies and procedures from the firm. Nevertheless , when the FRC reviewed the audits BDO carried out themselves on other companies, they found that a quantity of governance requirements were not being adhered to: 2. Firstly, these were not always offering a high normal of top quality auditing, faltering to challenge explanations and inputs from managers, they did not always report the disclosure deficiencies which were identified for the Audit Panel and there was a lack of sufficient communication with the Audit Panel with regards to inaccurate information, which usually led to safeguards that had been applied not being properly assessed. Secondly, the FRC found the fact that audits are not always being reviewed carefully enough and audit quality issues and omissions in reports weren’t being discovered. * Additionally, BDO were found to not have complied fully with ethical requirements in a number of various ways; * The organization plan inferred that service fees should be arranged lower if non-audit fees are likely to be received, this moves against their particular required honest standards and the own * Performance evaluation criteria such as the cross-selling of non-audit services * The list of agencies which associates held stocks and could generate a conflict of pursuits was not current. A more robust set of methods was suggested to ensure that this list was kept updated in future Last but not least, the Internal Top quality Review was not of a sufficient standard, it did not supply a sufficient amount of detail and clarity of explanations of significant results. 4. Conclusion We can see that BDO go to great lengths to try and make sure that they are totally compliant with corporate governance codes and regulations, not merely with their plans and procedures and the method the company is usually managed nevertheless also with governance structure in the company as well as the values and focus of the aims and objectives in the company. They also have a strong concentrate on transparency and ethics within in their business and this can be linked to all their value of providing great customer customer relationships with professionalism, trustworthiness and honesty.
They also go to great plans to aid the businesses with which they will work, in complying with corporate governance codes, again this is done up the brand of developing excellent quality and trustworthy consumer relationships, to be able to maintain and improve the success of their business. However , as we can see in the FRC review, there are gaps in their governance compliance, especially with interior reporting and ethical specifications, but it will have to be seen in the coming years of evaluations if the embrace transparency and an even greater focus on corporate governance will bring about BDO shutting such spaces. 5. Bibliography * BDO LLP UK, ‘Transparency Report’, 2012, Available at: http://static. do. uk. com/assets/documents/2012/09/Transparency_Report_for_the_52_weeks_ended_29_June_2012. pdf format [Accessed 02 May possibly 2013]. 2. BDO LLP UK Website, 2013, ‘About Us’, Available Online at: http://www. bdo. uk. com/about-us/corporate-social-responsibility/environment [Accessed 02 May 2013]. * BDO LLP UK, 2012, ‘Corporate Governance for TMT Businesses’, Available Online in: http://static. bdo. uk. com/assets/documents/2012/03/Corporate_Governance_for_TMT_Businesses. pdf [Accessed 02 May 2013]. * Crump, R., Might 2012, ‘Mid-cap market calls for mandatory governance code’, Economical Director Site, Available Online by: http://www. financialdirector. co. k/financial-director/news/2180374/mid-cap-market-calls-mandatory-governance-code [Accessed 02 Might 2013]. 5. Financial Confirming Council, 2013, ‘BDO LLP: Audit Quality Inspection’, FRC Website, Available on the web at: http://www. frc. org. uk/Our-Work/Publications/Audit-Quality-Review/Public-Report-BDO-LLP. aspx [Accessed 02 May possibly 2013]. 2. ICAEW, 2013, ‘The Review Firm Governance Code’, ICAEW Website, Available Online at: http://www. icaew. com/en/technical/corporate-governance/audit-firm-governance-code [Accessed 02 May well 2013]. 2. Keynote, 2013, ‘Accountancy Promoting Report’, Available Online at: https://www. keynote. company. uk/market-intelligence/view/product/10674/accountancy? edium=download [Accessed 02 May 2013]. * Dr Lashgari, M., 2004, ‘Corporate Governance: Theory and Practice’, The Journal of American Academy of Business, Cambridge, Available Online at: http://tharcisio. com. br/arquivos/textos/13200724. pdf format [Accessed 02 May 2013]. * Mitchell Truck der Zahn, J-L. T., 2008, ‘Special Issue about: “Financial Revealing, Transparency and company Governance: Concerns in Risky International Markets’, International Record of Accounting, Auditing and Performance Evaluation, Vol. 7, Nos 1/2, pp: 61-93, Available Online at: http://www. inderscience. com/info/ingeneral/cfp. php? id=962 [Accessed 02 May well 2013]. 2. Roberts, M. ‘The Hypotheses behind Company Governance’, Having Their Pastry website, Available Online at: http://www. havingtheircake. com/content/1_Ideas%20that%20shape%20the%20world/fact%20and%20opinion/The%20theories%20behind%20corporate%20governance. lnk [Accessed 02 May 2013]. * Turnbull, S., 2002, ‘Corporate Governance: Its range, concerns and theories’, Company Governance: A global Review, Quantity 5, Issue 4, Available on the web at: http://onlinelibrary. wiley. com/doi/10. 1111/1467-8683. 00061/pdf [Accessed 02 Might 2013]. * Tricker, L. I., 2012, ‘Corporate Governance: Principles, Policies and Practices’, Oxford School Press: Birmingham, (2012). 2.
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