2.3. Corporate Governance, Risks and Controls (GRC)
According to a quote from the Cadbury Report, Corporate Governance is ‘the system by which companies are
directed and controlled’. In Malaysia, the Malaysia Code of Corporate Governance (MCCG) which was initially
issued in 2000 and revised several times in 2007 and latest revision in 2012, sets out the principles and best practices
on structures and processes for public limited companies to achieve good governance. However, it does not limit
other types of companies to adopt the code. As defined by the MCCG, Corporate Governance is ‘the process and
structure used to direct and manage the business and affairs of the company towards enhancing business prosperity
and corporate accountability with the ultimate objective of realising long term shareholder value, whilst taking into
account the interests of stakeholders’
2.3. Corporate Governance, Risks and Controls (GRC)
According to a quote from the Cadbury Report, Corporate Governance is ‘the system by which companies are
directed and controlled’. In Malaysia, the Malaysia Code of Corporate Governance (MCCG) which was initially
issued in 2000 and revised several times in 2007 and latest revision in 2012, sets out the principles and best practices
on structures and processes for public limited companies to achieve good governance. However, it does not limit
other types of companies to adopt the code. As defined by the MCCG, Corporate Governance is ‘the process and
structure used to direct and manage the business and affairs of the company towards enhancing business prosperity
and corporate accountability with the ultimate objective of realising long term shareholder value, whilst taking into
account the interests of stakeholders’
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