20. The company should inform their financial stakeholders about relevant aspects of their business in a rational, precise and appropriate manner and should disclose such information in harmony with applicable law and agreements.
21. The company should keep accurate records of their activities and should observe to confession standards in harmony with applicable law and industry canons. Competitive advantage for government collaboration
22. The company should act in accordance with the composition and governance systems of the countries in which they operate. They do not seek to influence the upshot of public …show more content…
(NYSE:C) has a single tier board structure with several Committees for managing the governance affairs and for omission of management. As per the corporate governance guidelines of Citigroup, the standing committees of the Board are the Executive Committee, the Audit Committee, the Recruits and Reimbursement Committee, the Nomination, Governance and Public Affairs Committee and the Risk Management and Finance Committee. The presence of these Committees highlights the critical areas requiring supervision by the board. The philosophy of Citigroup Inc. (NYSE:C) emphasizes its focus on shareholder’s interests. As per the guidelines of the company, “the Board of Directors’ primary responsibility is to provide effective governance over the Company’s affairs for the benefit of its stockholders, and to consider the interests of its diverse electorates around the world, including its customers, employees, suppliers and local communities”. The board keeps a close tab on the functioning of the management and the recent exit of CEO of the company (Vicar Pundit), was reported to be a case of the board being disgruntled with management’s strategic management approach. Other companies like Bank of America Corp (NYSE: BAC) have similar board structures and