ABSTRACT
The Romans, meanwhile, established a legal system, a set of rules governing the Roman people since the founding of Rome, which lasted until the sixth century, when the Emperor Justinian made a monumental compilation of all Roman law. Legal regulations and internal company policies, as well as the values and principles on which organizations are based, provide the framework, the border, and the limit in the business field. The civil law system, operating in over 70 countries, is based on a very detailed set of laws that are organized into a code that reduces the interpretation. In the United States, the shareholders of Caremark International Inc. launched a lawsuit alleging that the company’s board of directors breached their duty of care by failing to put in place adequate internal control systems. The complexity increases when a company is listed on the stock exchange or provides a public service with additional specific regulations to be filled.
