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Corporate Governance: A Case Study

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Corporate Governance is the set of rule, customs, policies and laws and regulations affecting the way a corporation is focused, administered or controlled (Stiglitz, 1999). Corporate Governance comprises the relationships among the many players involved (the stakeholders) and the objectives for which the organization is controlled. The key players are the shareholders, management and the Board of Directors. Other stakeholders include employees, suppliers, customers, banks and other lenders, regulators, the environment and the community at large.
Corporate Power deals with matters of accountability and fiduciary obligations, essentially addressing the application of rules and mechanisms to enable good conduct and protection of shareholders …show more content…

Institutional pressures can include external or internal sources (Mihret, et al., 2010). According to DiMaggio & Powell, (1983), there are three institutional pressures coercive, normative, and mimetic. Similarly, Arena & Azzone, (2007) identified the institutional pressures that impact both individuals in part and organization as a whole as rules and regulation (coercive isomorphism); selections of other organizations (mimetic isomorphism); and discussion or professional bodies (normative isomorphism). Isomorphic processes can increase the efficiency of IA activities of an organization. Because being similar to other organizations in their industry rewarded organizations (DiMaggio & Powell, 1983). This comparison can make easier to deal with other organizations to attract career- minded staff, to be recognized as genuine and trustworthy, and to fit into administrative eligibility (Abu-Azza, 2012). Coercive isomorphism is a pressure which applied to establish IAD (Al- Twaijry, et al. …show more content…

It has a positive relationship with institutional changes due to an organization’s recognition of professions (Abu-Azza, 2012). There are two aspects of professionalization which are important for sources of isomorphism (DiMaggio & Powell, 1983). First professional is the formal education which is provided by higher education professionals. To this regard, internal auditors must undertake courses about internal auditing in higher education institution level. Secondly, training programs produced by professional institutions. In this regard, internal auditors must qualify like a Certified Internal Auditors (CIA) or establish a chapter of the IIA in their organization. Therefore, higher education and professional training institutions are important for the development of organizational departments like internal

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