TAILIEUCHUNG - Accounting for Good Corporate Governance

Increased effectiveness and efficiency In the end, a BPO arrangement is a tightly managed performance environment driven by a business partner who is assessed, and even paid, according to contract performance. With Accenture's finance and accounting BPO work with Microsoft, a monthly balanced scorecard rates all of the services that Accenture provides—both consulting and outsourcing. For the outsourcing arrangements, 50 percent of the scorecard rating is based on execution excellence (according to service level agreements), 25 percent on business value delivered to Microsoft, including the creative ideas and process changes recommended, and 25 percent on customer satisfaction. According to Taylor. | Shil N. C. 2008 . Accounting for good corporate governance JOAAG Vol. 3. No. 1 Accounting for Good Corporate Governance Nikhil Chandra Shil1 Abstract Good corporate governance GCG is a mandatory requirement in today s corporate world by every stakeholder groups. Failure of giant corporate groups in last two-three decades strengthens the demand further. And surprisingly in some of such failures accounting as a discipline is held liable. The way accounting is practiced or the interpretations that may give different prescriptions in similar situations are some dark areas that may open some scope for the corrupted accountants. Still the author believes that such claim against accounting is undue and unfounded. The paper is an earnest effort to uncover the issue and to protect it from such unfounded critics. It covers the concept of corporate governance its legal framework its current status and how accounting may be practiced to protect corporate from corruption by establishing governance. Keywords corporate governance accounting comply-or-explain Sarbanes-Oxley SOX 1 Senior lecturer of Accounting Department of Business Administration East West University Dhaka Bangladesh. Email nikhilacc@ 22 Shil N. C. 2008 . Accounting for good corporate governance JOAAG Vol. 3. No. 1 JOAAG Introduction Good corporate governance GCG in a corporate set up leads to maximize the value of the shareholders legally ethically and on a sustainable basis while ensuring equity and transparency to every stakeholder - the company s customers employees investors vendor-partners the government of the land and the community Murthy 2006 . GCG is a must for ensuring the required values to different stakeholder groups. It enhances the performance of corporations by creating an environment that motivates managers to maximize returns on investment enhance operational efficiency and ensure long-term productivity growth. Consequently such corporations attract the best talent on a global basis. It

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