ABSTRACT
This conclusion presents some closing thoughts on the concepts discussed in the preceding chapters of this book. The book explores that enhanced accountability provides better corporate governance as accountability is so critical to corporate governance. Cadbury Report states that 'The issue for corporate governance is how to strengthen the accountability of boards of directors to shareholders'. The Financial Reporting Council states that corporate governance can be defined as 'a means to establish a system of control between the board and management as well as accountability from the board to the shareholders'. The book explains the four stages of accountability in corporate governance, namely boards reporting information to accountees, boards explaining and justifying their actions, accountees being able to question boards as to what they have done, the imposition of consequences on boards. It discusses several accountability mechanisms and recognises that many of them have flaws, thus it is necessary to have several mechanisms operating, and that mechanisms must be effective.
