STRENGTHENING CORPORATE GOVERNANCE

Abstract

The major Corporate scandals which dates back to Ralph Nader to Enron has shaken the investors confidence world over leading to a sluggish growth, creating acute unemployment and loss of face. The purpose of the article is to provide suggestions on strengthening corporate governance. The main research methods that were used in the article are general scientific methods of analysis and synthesis, as well as comparative analysis, which became the basis for obtaining research results. To come out from such situation we need to have fusion of Blue Ribbon Committee report and Sarbanes Oxley Act requirements. Both of these can act as a guiding force to emerging economies of Eastern Europe to come to terms with corporate pitfalls. The Lawmakers as well regulatory agencies in Romania can take a cue from them in strengthen the financial disclosure norms in their Corporate Laws as well in standards of professional body of auditors.